For liabilities and equity accounts, however, debits always signify a decrease to the account, while credits always signify an increase to the account. A T-account is an informal term for a set of financial records that uses double-entry bookkeeping. Once journal entries are made in the general journal or subsidiary journals, they must be posted and transferred […]
In the US, public companies are obligated to report their number of shares outstanding as part of the SEC’s filing requirements. Therefore, the total number of shares outstanding of Apple Inc. at the end of the year 2016 is 5,336.16 million. Therefore, the total number of shares outstanding of Walmart Inc. at the end of […]
This is because anyone can fill it out and withdraw money from your bank account. A simple rule to remember would be to treat checks like cash. This is why employers ask for a voided check to set up direct deposit, not a blank one. You may be asked to send a voided check if […]
Should the payment qualify as a tax-deductible purchase for the payer, the individual will require the receipt when itemizing deductions on their income tax return. A simple receipt template ensures that you provide customers with documentation of the transaction. You can fill and send the template online, or download, fill in, and print it for […]
This limitation is due to the banking industry’s regulatory rules, not fund accounting. Fund accounting should never use liabilities to manage fund balances. A liability is something an organization (or person) owes to someone else. Placing the Youth Fund money in a liability account doesn’t make sense. It’s not a liability, yet it is done […]
Because ensuring that all Oregonians have a real opportunity to thrive requires public policy grounded in facts. Though Oregon tax law is no longer explicitly racist, it continues to entrench and even deepen racial disparities that are the result of past and present policy choices. From Jesus to Adam Smith, there is wide agreement that […]