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Question: ACCOUNTING HELP..A General Ledger for month 1 to 31st march is being made?

where do dese go

6.Depreciation. A standard depreciation amount of $350.00 for Equipment, Furniture & Fittings and Motor Vehicle is applied each month so that the monthly and year-to-date profit figures are more accurate. This amount is posted as a Debit to Depreciation Expense and a Credit to Accumulated Depreciation.
7.Cash At Bank. A download of the bank statement showed that all cash receipts and payments had been processed. One item not yet accounted for was Bank Charges of $28.00. GST is not charged on this item.
8.The owner, James Hing, drew out $1000 in March from the business for personal expenses.
9.Entries for Depreciation and Drawings are made through the General Journal and worksheet.

END OF MONTH ADJUSTMENTS or DURING THE MONTH and CLOSING

for more details on the assignment go2

http://dayalaman.250free.com/ICCAcctAssignment_a06.htm

Answer: 6) Debit the Depreciation expense by $350 and credit the Accumulated depreciation also by $350.
7)Credit the cash at bank account by $28.
Debit the drawings account by $1000

Wajahat Ali: Fighting Wells Fargo and Foreclosure

Could it be that the best chance to save a young family from foreclosure is a 28-year-old Pakistani American playwright/attorney who learned bankruptcy law on the internet?

(Personal Finance Budgeting) – GET YOUR FREE SOFTWARE HERE

Question: IF this is true, what do you think will happen if HIS (SWT) neighbors turn in 0bama (SWT)?

Rats! City to Pay for Informing on Tax Cheats
The reward would amount to some sort of percentage
By ANDREW GREINER
Updated 9:27 AM CDT, Tue, Oct 27, 2009

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You dirty rat.

Chicago and Cook County residents aren’t the only ones about to get shocking tax news; the city is debuting a “tax whistle-blower” plan that could turn neighbor against neighbor in Chicago’s business community.

The folks at city hall will pay cash bounties to informants who turn in Business Tax cheats around the city. The reward would amount to some sort of percentage of the tax money that the city recovers.

“It’s just another way of bringing people into compliance,” Revenue Department spokesman Ed Walsh told the Sun-Times.

http://www.nbcchicago.com/news/local-beat/A-City-of-Stool-Pigeons-66367287.html

Answer: So the government is telling it’s citizens to rat each other out now?

Sure hope this doesn’t go federal, then we could be really screwed. (more so, of course)

BUSINESS IN BRIEF 18/8

The Cuu Long Joint Operating Company said it has discovered oil and gas at the Su Tu Nau (brown lion) 3X oil field off the southern province of Ba Ria-Vung Tau .

Luscombe: Year-end Tax Planning for 2009

Question: Small Business owner Resignation?

I have a small business in Canada with a partner. I have been out of Canada the past two years, and I don’t know what has been happening in the company, I am resigning as President and Director of the Company now threw a notary public and alll papers are ready to be signed. Well this be a problem for me in anyway with Goverment or Taxes or anything else or am I exempt from everything in the company and I have nothing to do with its past or future?

Answer: The past might be a problem and would be up to a judge, but you’re free and clear for the future.

If the past ever made it into court, they would examine whether you knew or should have known what was going on. If your partner was up to something underhanded and was very good at disguising it, you would most likely not be considered liable. As partner, you had a certain role that carries certain expectations of knowing what’s going on in the company, but again if your partner was careful and you weren’t just turning a blind eye, then you’re 99% okay.

Canada existing home sales fall, sales tax blamed

Canada existing home sales fall, sales tax blamed

Tax in Canada

Question: How much should this person get taken out for federal withholding tax weekly?

Single person, with 8 allowances. Earns $1600 weekly. We had a secretary doing mess ups with the company, and when I try to calculate this persons federal taxes for payroll, I am confused due to the high earning and the percent crap you have to do. Does anyone know how I calculate this for federal withholding taxes, or where online can I get a calculator to help me?? Anything would be helpful…thanks.

Answer: That’s $83,200 a year. So that would put them in the 25% federal income tax bracket, plus a 7.65% payroll tax.

That’s $27,164.80 in total taxes, so that’s $522.40 total withholding every week. I hope this helps.

Six tips for students with a summer job

Schoolâs out and many students now have a summer job. Some students may not realize they have to pay taxes on their summer income. Here are the six things the IRS wants everyone to know about income earned while working a summer job.

Question: How much should I pay for a design project that’s ALREADY finished?

My friend has done some design work for a company I have started. For various reasons, we did not agree on a price when he began the work. Now the work is coming on completion, and after discussions I have agreed to pay him a fair price.

The work included creation of a simple corporate website using WordPress with a customized template, logo design, and business card design. He lives in China and has much less living expenses than someone in the West.

Any suggestions?

Answer: Tell him to estimate how many hours he spent making it, then pay him a wage for the time spent. Split it into blocks of 8 or 9 hours and pay him per day.
This is the only real way to do it fairly

Back to Work f0r ‘Mad Men’

“Mad Men” is being given a fresh start as it returns for a fourth season.

Easy Spreadsheet to Track Income Expenses and Profit