Interest Expense: Calculation, Formula and Examples

If a company has zero debt and EBT of $1 million (with a tax rate of 30%), their taxes payable will be $300,000. The formula for calculating the annual interest...

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5 Ways to Calculate Sales Tax

There are often multiple tax rates per ZIP code, county, and city. Therefore, more accurate rates are determined based on street address. To address this concern, American policymakers adjusted...

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Calculate the Value of Your Paper Savings Bonds

The present value of the interest payments and the capital gain are added to compute the bond’s YTM. If the bond is purchased at a premium, the YTM calculation...

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What is Accounts Payable: Definition, Process, and Examples

Accounts Payable and Receivable are usually different departments in larger companies. However, smaller businesses may combine their accounts receivable and accounts payable into one department. They are typically responsible...

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The Complete Guide to Accounting for Your Manufacturing Businesses

The manufacturing account accumulates costs of production and is only used by a manufacturing business. The trading account is used to determine the gross profit on finished goods and...

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How to Apply for the CPA Exam: Step-by-Step Guide

Whether you have a business or are thinking about starting a business, let Rosedale & Drapala handle all of your, tax and accounting needs. We have been working with...

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Retained earnings definition

Any item that impacts net income (or net loss) will impact the retained earnings. Such items include sales revenue, cost of goods sold (COGS), depreciation, and necessary operating expenses. For...

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