There is a lot of important terminology when referring to stock and stock transactions. Therefore, I felt that it needed its own post. Here is a breakdown of the important terms you should know in regards
What is a warranty?
Most of the products we purchase come with some type of warranty. A warranty is guarantee that the manufacturer of the product will repair or replace the product for a certain period
In the previous post, we defined and calculated gross pay, payroll taxes, and net pay. In this post, we will discuss how to record the paycheck and the employer taxes.
You might be wondering why this is
Payroll is one of the most complicated areas of accounting because of all the rules and regulations surrounding payroll. Not only do we need to calculate taxes, but we also need to subtract things like