by Admin Temporal | Feb 10, 2022 | Bookkeeping
Double time is another method of calculating overtime pay, but it is less common than time and a half. While the FLSA does not require double-time pay, some union contracts do. Using this method, employees receive double their regular hourly rate for every hour worked...
by Admin Temporal | Abr 28, 2021 | Bookkeeping
This means that the higher the average receivable amount within a period with constant revenue, the longer the company has to wait for payment. To calculate the Days Sales in Receivables Formula, you need to follow a few simple steps. By understanding this formula,...
by Admin Temporal | Mar 25, 2021 | Bookkeeping
In a corporation, the amount in the income summary jumps to the balance sheet. It increases — or in the case of a net loss, decreases — retained earnings. When dividends are declared by corporations, they are usually recorded by debiting Dividends Payable and...
by Admin Temporal | Mar 3, 2021 | Bookkeeping
This data provides the foundation for your financial statements, but it does not break down transactions by accounting cycle. There are five sets of columns, each set having a column for debit and credit, for a total of 10 columns. The five column sets are the trial...
