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It might not seem obvious by looking at a profit and loss statement, but the final figure at the bottom (i.e., the total profit or the total loss) may be very different from the actual amount of cash that’s made or lost. The income tax line represents the total amount of taxes paid by the…

Content How to Simplify Your Real Estate Accounting Needs Income & Expense Guide Company Itemize All Incoming and Outgoing Transactions How To Choose Real Estate Accounting Software Best for Large Real Estate Businesses The best real estate accounting software allows investors to get performance dashboards at the portfolio and property level online and generates informative…

An excise tax equal to 10% of the excess benefit can be imposed on the participation of an organization manager in an excess benefit transaction between an applicable tax-exempt organization and a disqualified person. This tax, which can’t exceed $20,000 for any single transaction, is only imposed if the 25% tax is imposed on the…

Corporations that are C-corps in most states face a more cumbersome and costly incorporation process than those that are S-corps. According to the IRS, an S corporation can have a maximum of 100 shareholders. A C-corporation may issue stock certificates to the general public and accept unlimited shareholders. Similar to articles of incorporation, this document…

On the income statement, the $50k is recognized as revenue per accrual accounting policies but recorded as accounts receivable too since the payment has not yet been received. On the other hand, if a company’s A/R balance declines, the invoices billed to customers that paid on credit were completed and the money was received in…

On the income statement, the $50k is recognized as revenue per accrual accounting policies but recorded as accounts receivable too since the payment has not yet been received. On the other hand, if a company’s A/R balance declines, the invoices billed to customers that paid on credit were completed and the money was received in…

If a company has 100 shares outstanding and it announces it will pay $1,000 in dividends to its shareholders, the pro rata amount that each share is worth is $10. If a shareholder owns five shares, they will receive $50 in dividends. When a company pays dividends to its shareholders, each why does gaap require…

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