Author: Obotu Agape Oguche

Process costing is a type of cost accounting method that is used to determine the cost of a product at

A bank service charge journal entry is part of a bank reconciliation process. Businesses usually discover that at the end

There are financial metrics that allow investors to assess a company’s ability to provide its investors with an acceptable return

The predetermined overhead rate formula can be used to balance expenses with production costs and sales. For businesses in manufacturing,

Does bonus depreciation have a limit? Bonus depreciation was enacted by Congress’ Job Creation and Worker Assistance Act of 2002

In an ongoing effort to help small businesses, the Internal Revenue Service (IRS) permits business owners to claim first-year bonus

Bonus depreciation was enacted by Congress’ Job Creation and Worker Assistance Act of 2002 as an additional first-year depreciation allowance

Whether you manage a rental property or you are a personal property owner, understanding how rental property bonus depreciation works

The adjusting entry for uncollectible accounts is essential in order to match bad debts with the sales of the period

Taxpayers can take bonus depreciation on residential rental property improvements but not on the actual rental property. There are qualified

Congress’ Job Creation and Worker Assistance Act of 2002 enacted a tax incentive that allows a taxpayer to expense the

When a business uses the accrual accounting method, several year-end adjusting entries must be made to the profit & loss

What qualifies for bonus depreciation? When you purchase properties for your business, such as a computer or vehicle, that last

At the end of an accounting period, adjusting journal entries may be required when reviewing your financial records. Adjusting entries

Claiming bonus depreciation can be a beneficial tax break option for business taxpayers that purchase equipment, furniture, and other fixed

For taxpayers, knowing how to calculate bonus depreciation is essential. Depreciation in accounting is a way of allocating the cost

At the end of an accounting period, the amount of liability that remains for salaries that have been earned by

Can you take bonus depreciation on rental property? According to the Internal Revenue Service (IRS), bonus depreciation permits business taxpayers