Best Rated threads in General Accountingshow all threads
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Accounting adjustment
Hi dears, could you please help me to understand these concepts, these are some adjustments that i have never faced and i dont know how should i change my new blalnce sheet and what is going in debit...
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17 years ago
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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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18 years ago
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Proper Treatment of Section 179 in Accounting System
If we use Section 179 to expense the current year's assets, should we be reporting the Section 179 expense on the income statement in a separate expense account that runs in parallel to the current...
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15 years ago
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Cash deposit or withdrawl & reporting to IRS
I know that Bank of America or Washington Mutual automatically report to IRS if cash deposit is at least $10,000. How about withdrawl? If u withdrawl more than $10,000 at one time, will it get...
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16 years ago
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Self-Directed IRA LLC, SS-4 questions, etc.
I recently opened a Self-Directed Traditional IRA account at a custodian trust company in the mid-west, and I am in the process of having my IRA funds from elsewhere rolled over into my Self-Directed...
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16 years ago
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Journal entries for law firm
Greetings Lawyer practices real estate law, litigation, etc.. What would be the journal entries for the following transactions in a law firm? Lawyers uses the accrual method of accounting 1) Lawyer...
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17 years ago
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Can anyone help me? I don't know if I have to put an adjustment entry for this.
These are all the adjustments needed: Additional Information: a. Merchandise inventory, Dec.31 - 200,000 b. Inventory of office supplies as of Dec. 31 - 2000 c. Accrued Salaries as of Dec. 31 - 9000...
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11 years ago
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What are the differences between CDOs and CMOs?
I am thinking that CDO/CMO are a subsect of MBS, but the basic principles behind them are the exact same. The CDO/CMO is an MBS which has tranches (classes), and this is what seperates them. However,...
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15 years ago
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IRC Code 414(u) military deferral, Rev Proc 96-49, CFR 1002262, IRC 414 (U)(3), DOL Reg. 20 CFR 1002.265(c)
IRC Code 414(u) military deferral, Rev Proc 96-49, CFR 1002262, IRC 414 (U)(3), DOL Reg. 20 CFR 1002.265(c) I was doing some research on these topics. I have a brother in the military. Does anyone...
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16 years ago
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TAX-ID? Federal ID? EIN? Social security number? what to use for small business?
I am in the process of purchasing a tiny neighborhood market that also sells beer & lottery. It'll be a sole proprietorship under my name. Me and my wife will be the only ones working(no employees). I...
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16 years ago
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Age 48 an dam completing my accounting degree-bachelors-any suggestion
Hello: I am 48 years old and am finishing my bachelors degree in accounting. Any advice on how to move into the field at my age. I feel that age plays a big role in accounting???help thanks Gary
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17 years ago
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Journal entries for retainers
I need to bill a client for a retainer of 50,000. Additionally, we owe them rent of 5,000. What are the journal entries to record the issuing of the invoice and what are the journal entries to record...
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10 years ago
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