Best Rated threads in General Accountingshow all threads

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Application of customer payments against Invoices
Please assist in confirmation of GAAP - If a customer has multiple open invoices of varying age, makes a payment, references an invoice number on the check - is payment applied: - To oldest invoice -...
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Self-Directed IRA LLC -- finding a NJ accountant
I created a Self-Directed IRA and formed a "Self-Directed IRA LLC" in New Jersey. I already bought one investment property in the name of the SDIRA LLC (a tenant-occupied duplex in New Jersey). Now, I...
 
LLC and Guaranteed Payments
Hello, I've recently created an LLC and have been researching Guaranteed Payments, Member Draws, and EOY Member Distributions and found conflicting data. 1.) Does an multi member LLC defaulting to be...
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Accounting Treatment of License Fee
Is the local license fee paid by a restaurant considered an asset or an expense?
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Lessee, Lessor, and Variable Interests
Have a question about a case I am doing in class: FastCar Parts, a manufacturer of automotive engines, is a nonpublic entity that leases a building from a related party, RE Properties, LLC. RE is...
 
Stuck on a problem for 3 hours!!! Please help!
Could someone please help me with this problem. It's part of an assignment for school and I've gone through 3 accounting books and 3 hours and keep coming up $2 off somehow. It's a pretty basic...
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Bookkeeping disclaimer
Hi, Looking for a sample of a bookkeeping disclaimer I can add to contracts. I want something along the lines of receipts and invoices are entered in accordance to what the client has provided. They...
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Maximizing Efficiency and Minimizing Risks: A Quick Guide to Paying Offshore Contractors (2023 Update)
I have an S-Corp in Virgina, USA. I need to pay a person (independent contractor) in Egypt $2,000 for some work they peformed in Egypt for me. The Egyptian person has a Citibank personal account. What...
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Discipline an independent contractor
Hi, How do I discipline an independent contractor who is doing work for me? I currently have an independent contractor who allegedly asked someone for marijuana while working for me. I did not witness...
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Accounting jobs suck!
As Rusty has found out, an n of 1 is in no way typical of what amounts to the present situation in the accounting profession. Now if you give him a job..........
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CPA exam question
Dear all, I am preparing for the CPA exam now and I was a little confused with the concept "float." Here is the question: Assume that each day a company writes and receives checks totaling $10,000. If...
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Is 'cash' 'real' or 'personal' property?
Consider a hypothetical commercial real estate property. The land, building, improvements, and rights to use them represent 'real property' The inventory, desks, chairs, and other assets on the...
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"Easiest" state to get CPA license in?
All states require a bachelors in Accounting, not must a business degree with an accounting major. This adds up to about 24 semester hours of accounting. You then have to take the test and get...
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GAAP Requirements for Bill/Invoice?
RocIt's a public University, but part of a state system, and I'm quite sure that while GAAP may not strictly required, the state legislature and others have a general expectation that the fiscals are...
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What does "the large print giveth and the small print taketh away" means?
Hello everyone, This is my first question to this group. I'm translating an financial text book from english to my language. Now I've got a sentence which I can't make understand its real meaning....
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Payroll Manager, Duluth, GA to $60K
Payroll Manager, Duluth, GA to $60K Well established corporation in the Duluth area has need for Payroll Manager. This position will supervise small staff and be responsible for the accurate and...
 
Taxes in P&L statement?
I'm a officer/founder of a small C corp. Another person is responsible for the bookkeeping (who is not an accountant, but an engineer) with the help of a CPA. Every quarter the "bookkeeper" generates...
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Retrospective Purchase Order
Hi, can you explain me what excatly Retrospective PO is and when it's created? thanks
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Mileage Reimbursement Accounting
Hello all, I'm a pastor who receives a monthly reimbursement for business miles traveled. I manage my personal finances in Quickbooks. My question is: How do I account for this check in Quickbooks? I...
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solutions manual for intermediate accounting 12e, kieso, weygandt, warfield
Hi, I am a senior majoring in finance, and I am currently taking intermediate accounting. If someone has an electronic copy of the solutions manual for this book and is willing to provide it, I would...
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