Depreciation Recapture: Definition, Calculation, and Examples

If you hold the remainder interest, you must generally increase your basis in that interest by the depreciation not allowed to the term interest holder. However, do not increase your basis for depreciation not allowed for periods during which either of the following situations applies. In some cases, it is not clear whether property is […]

The Tribune looked at where most Salt Lake City crimes happen Heres what we found.

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SG&A: Selling, General, and Administrative Expenses

SG&A is also one of the first places managers look to when reducing redundancies after mergers or acquisitions. That makes it an easy target for a management team looking to quickly boost profits. It was first registered in September 1988.[2] It is administered by the Singapore Network Information Centre.[2] Registrations are processed via accredited registrars. […]

What Is an Indirect Cost? Definitions, Calculations, & More

A charitable organization may have a salaried employee who works in three areas of the organization. This employee’s salary is a common cost that will be allocated to the three areas. Direct business expenses may qualify for deductions, helping you reduce the amount of taxes you have to pay for operating and profiting from your […]

What is Journal & How to Prepare Journal Entries in Accounting

In purchase journal transactions of merchandise purchased on credit for sale are recorded. An asset purchased on the account is not recorded in the purchase journal. Here it should be mentioned that most of the business organizations of our country are of small or medium size. These organizations maintain cash book for recording daily cash […]

Accrued Revenue Definition, Examples with Journal Entry

For service contracts that operate under ASC 606 guidelines, accrued revenue occurs once all contract obligations have been met, not when an invoice is sent or payment is received. It is reported as a current asset on the balance sheet under the assumption that the company will receive it in the near future, often within […]