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Category Archives for Financial Accounting Topics

Recording Payroll and Payroll Liabilities

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

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Recording Warranty Expenses and Liabilities

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

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Introduction to Bonds

A bond is a liability companies use when a large amount of cash is needed. Rather than go to a bank or other lender, a company will issue bonds and sell them to the public. By selling bonds on the open

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Simple Interest Calculations

Most interest calculations that you will encounter are simple interest calculations. In a simple interest calculation, interest is calculated for a defined period of time based on the outstanding balance.

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Present Value and Bond Issue Prices

Let me ask you a question: Would you give someone $40,000 today to receive $40,000 back in 10 years? I imagine that your answer is most likely NO. Why not? There are probably a number of reasons. You

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Introduction to Stockholders’ Equity

When you see the term stockholders’ equity, you should instantly think of a corporation. That is because corporations are the only type of entity that have stockholders. Partnerships have partners.

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