To be a regular bookkeeper, a high school diploma or the equivalent of one is the minimum requirement. Some employers are willing to hire people who don’t have any previous experience in bookkeeping and instead provide on-the-job training (OJT). It’s always a good idea to do some level of onboarding...
total equity effectively represents how much a company would have left over in assets if the company went out of business immediately. A company's equity position can be found on its balance sheet, where there is an entry line for total equity on the right side of the table. First...
After the company formation, Speakers, Inc. needs to buy some equipment for installing speakers, so it purchases $20,000 of installation equipment from a manufacturer for cash. In this case, Speakers, Inc. uses its cash to buy another asset, so the asset account is decreased from the disbursement of cash and...
An ordinary annuity is a series of recurring payments that are made at the end of a period, such as payments for quarterly stock dividends. An annuity due, by contrast, is a series of recurring payments that are made at the beginning of a period. So, for example, if you...
It is a multifaceted process that demands a blend of data-driven insights and ethical considerations. Named after the Italian economist Vilfredo Pareto, this framework suggests that an outcome is considered efficient when no individual or party can be made better off without making someone else worse off. It focuses on...
The following are selected journal entries from Printing Plus that affect the Cash account. We will use the Cash ledger account to calculate account balances. Note that this example has only one debit account and one credit account, which is considered a simple entry. A compound entry is when there...