Are sales discounts reported as an expense? AccountingCoach

You can find it on Accountingcoach.com . Are sales discounts reported as an expense? Definition of Sales Discounts. Sales discounts are also known as cash discounts or early payment discounts.Sales discounts (along with sales returns and allowances) are deducted from gross sales to arrive at the company's net sales.

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Why would someone buy a bond at a premium? AccountingCoach

7 days ago Why would someone buy a bond at a premium? A person would buy a bond at a premium (pay more than its maturity value) because the bond's stated interest rate (and therefore its interest payments) are greater than those expected by the current bond market. It is also possible that a bond investor will have no choice. For example, if you wish to purchase a bond maturing in 8 years with a specific

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How is a voucher used in accounts payable? AccountingCoach

6 days ago How is a voucher used in accounts payable? Definition of Voucher. A voucher is often a prenumbered form used in the accounts payable department to standardize and enhance a company's internal control over payments to its vendors and service providers.. Example of a Voucher. You could think of the voucher used in accounts payable as a cover sheet to which necessary supporting documents and

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Should a cash discount be recorded as a reduction to an

7 days ago Should a cash discount be recorded as a reduction to an expense? Yes, a cash discount should be a reduction to an expense. After all, accountants define cost as the cash amount (or cash equivalent amount) at the time of the transaction. To illustrate, let's assume that your company receives marketing consulting services and is billed $10,000 with terms of 1/10, net 30.

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Calculating the Present Value of a 9% - AccountingCoach

5 days ago Calculating the Present Value of a 9% Bond in an 8% Market. The present value of a bond is calculated by discounting the bond's future cash payments by the current market interest rate.. In other words, the present value of a bond is the total of:

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What is a trade discount? AccountingCoach

4 days ago What is a trade discount? Definition of Trade Discount. A trade discount is a routine reduction from the regular, established price of a product. The use of trade discounts allows a company to vary the final price based on each customer's volume or status. Note that trade discounts are different from early-payment discounts.

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What is the difference between an invoice and a voucher

6 days ago What is the difference between an invoice and a voucher? Definition of an Invoice. An invoice received from a vendor is a billing for goods or services that it had provided. The vendor's invoice will include the quantities of the items provided, brief descriptions, unit prices, amount due, credit terms, where to remit payment, etc.

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What should be the entry when goods are - AccountingCoach

4 days ago Definition of Goods Purchased at a Discount There are two common types of discounts for companies buying goods to resell: Trade discount Early payment discount Examples of Entries for Goods Purchased at a Discount Trade discount. Some suppliers have catalogs with prices before any discounts. Let'

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Amortizing Bond Discount Using the Effective Interest Rate

6 days ago The effective interest rate is multiplied times the bond's book value at the start of the accounting period to arrive at each period's interest expense. The difference between Item 2 and Item 4 is the amount of amortization. The following table illustrates the effective interest rate method of amortizing the $3,851 discount on bonds payable:

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What is a cash discount? AccountingCoach

4 days ago Definition of Cash Discount A cash discount is a deduction allowed by some sellers of goods or by some providers of services in order to motivate customers to pay within a specified time. The cash discount is also referred to as an early payment discount. The sellers and providers offering a cash

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What is the tax advantage when bonds are issued instead of

6 days ago What is the tax advantage when bonds are issued instead of stock? The tax advantage of issuing bonds (or other debt) instead of stock results from the interest paid by the company being a deductible expense on its federal and state income tax returns. Dividends paid to stockholders are not a deductible expense, since dividends are a distribution of profits to the owners of the corporation.

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Is the sales tax on merchandise purchased for resale

7 days ago Is the sales tax on merchandise purchased for resale included in inventory? In our state, sales tax is paid only by the end customer. In other words, a retailer does not pay sales tax on merchandise that is purchased for resale.

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What are accruals? AccountingCoach

6 days ago What are accruals? Definition of Accruals. The accounting and bookkeeping term accruals refers to adjustments that must be made before a company's financial statements are issued. Accruals involve the following types of business transactions: expenses, losses, and liabilities that have been incurred but are not yet recorded in the accounts, and; revenues and assets that have been earned but

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Credit Risk and Allowance for Losses AccountingCoach

5 days ago Credit Risk. When a seller provides goods or services on credit, the resultant account receivable is normally considered to be an unsecured claim against the buyer's assets. This makes the seller (the supplier) an unsecured creditor, meaning it does not have a lien on any of the buyer's assets—not even on the goods that it just sold to the buyer.

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What is the difference between dividends and interest

5 days ago What is the difference between dividends and interest expense? Dividends are a distribution of a corporation's earnings to its stockholders. Dividends are not an expense of the corporation and, therefore, dividends do not reduce the corporation's net income or its taxable income. When a dividend of $100,000 is declared and paid, the corporation's cash is reduced by $100,000 and its retained

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Calculating the Present Value of a 9% Bond in a 10% Market

5 days ago Calculating the Present Value of a 9% Bond in a 10% Market. Let's assume that a 9% $100,000 bond is prepared in December 2018. By the time the bond is offered to investors on January 1, 2019 the market interest rate has increased to 10%.

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Calculating the Future Value of a Single Amount (FV

4 days ago Calculating the Future Value of a Single Amount (FV) If we know the single amount (PV), the interest rate (i), and the number of periods of compounding (n), we can calculate the future value (FV) of the single amount. Calculations #1 through #5 illustrate how to determine the future value (FV) through the use of future value factors

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Present Value Frequency of Compounding AccountingCoach

5 days ago "AccountingCoach PRO is an exceptional service. It not only provides all the essential material to succeed in learning accounting and finance, but also explains all the relevant details that make the difference when you need to understand the complexity of accounting systems.

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Bonds Payable Explanation AccountingCoach

4 days ago Did you know? To make the topic of Bonds Payable even easier to understand, we created a collection of premium materials called AccountingCoach PRO.Our PRO users get lifetime access to our bonds payable cheat sheet, flashcards, quick test, business forms, and more.

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What is the effective interest rate for a bond

8 days ago What is the effective interest rate for a bond? A bond's effective interest rate is the rate that will discount the bond's future interest payments and its maturity value to the bond's current selling price (current market price or present value). The effective interest rate is a bond investor's yield-to-maturity. It is also referred to as the

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