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Adding the two variables together, we get an overall variance of $4,800 (Unfavorable). Management should address why the actual labor price is a dollar higher than the standard and why 1,000 more hours are required for production. The same column method can also be applied to variable overhead costs. It is similar to the labor […]

This journal entry is made to eliminate the dividends payable that the company has made at the declaration date as well as to recognize the cash outflow that is not an expense. Since accountants at Your Co. have already created the liability (Dividends Payable) and have not yet paid the cash dividend, no accounting financial […]

But with the right accounting or invoicing software for small businesses, filing tax information can be a simple and streamlined process. QuickBooks makes this process even easier thanks to a huge range of integrations and plug-ins you can use, with familiar names such as PayPal, Shopify and MailChimp all present and accounted for. Zoho Books […]

I hoped Intuit would have brought them out of hiding by now (they’re under the More/All icon). The apps support most of the features you need to get your accounting work done remotely, however. The core home page now shows customizable shortcuts, a task list, bank account balances, and more charts and graphs than in […]

Whichever calculation yields a higher number reflects the better liquidity position of the company. The cash ratio or cash coverage ratio is a liquidity ratio that measures a firm’s ability to pay off its current liabilities with only cash and cash equivalents. The cash ratio is much more restrictive than the current ratio or quick ratio because no […]