The difference between your taxable income and your income tax will be your net income. Net income is what’s left over after all business expenses are paid. It is a number that is useful to the business owner for the purpose of analysis and study. The...
Finally, the balance sheet provides a snapshot of your startup’s financial position at a given moment in time. It lists your assets (cash, inventory, equipment, etc.), liabilities (loans, accounts payable, etc.), and equity (money invested by you or other investors). These are the direct costs...
I'm assuming that to be the wrong thing to do, because the "Child Support/Other Current Liabilities" account balance has not been offset by the amount of the check payment submitted to the state already. Customers MUST be given ways to contact these departments directly. It's absolutely insane...
Most corporations use loans to fund their daily business activities, but interest payments on such loans are not considered a core activity of the corporation. The company prepares its financial statements for the first quarter of the year and wants to determine how much interest paid on...
