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All the sales on account for June are shown in this journal; cash sales are recorded in the cash receipts journal. The sales journal has five columns to record the necessary information relating to credit sales. A sales journal is…

Many applicants have reported that IRS lost their passports or other valuable and the importance of other comprehensive income hard-to-replace identification documents. Consider getting certified copies or using one of the application methods listed below, rather than mailing original identification…

If you estimated your earnings too low, again complete another Form 1040-ES worksheet to recalculate your estimated tax for the next quarter. You want to estimate your income as accurately as you can to avoid penalties. You had no tax liability for the…

Positive shareholder equity means the company has enough assets to cover its liabilities. Negative shareholder equity means that the company’s liabilities exceed its assets. For example, a ratio like return on equity (ROE), which is a company’s net income divided…