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How are leasehold improvements an asset?

Leasehold improvements are expenditures relating to the alteration or modernization of the leased asset that appreciably prolongs the item’s period of use...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What is a petty cash book Class 11?

The cash book that records payments of small expenses of small denomination such as postage, stationery, conveyance, etc. This cash book is maintained by ...

What is considered indirect labor?

Indirect labor is the cost of any labor that supports the production process, but which is not directly involved in the active conversion of materials int...

Is depreciation included in selling expense?

Typically, depreciation and amortization are not included in cost of goods sold and are expensed as separate line items on the income statement. However, ...

Can I use car loan for personal use?

Purpose of availing the loan – It is to be noted that a car loan cannot be used to purchase anything else other than the car using the borrowed amount. A ...

What is the journal entry for commenced business with cash?

For real accounts : Debit what comes in and credit what goes out . For personal accounts : Debit the receiver and credit the giver. Applying the Rules : D...

What debt is created when a business makes a purchase on account?

The debt created by a business when it makes a purchase on account is referred to as an: account payable. What is a debt that a business owes? Liabilities...

What is monetary theory of business cycle?

The monetary theory states that the business cycle is a result of changes in monetary and credit market conditions. This results in the growth of an econo...

How do you calculate interest on a land contract?

To calculate the interest payment, multiply the amount financed by the interest rate, and divide the result by the number of installments in a year. For e...

What is the cost of samarium per 100 grams?

samarium: price conversions and cost Price per units of weight 1.96 100 grams 4.89 250 grams 7.82 400 grams 9.78 500 grams How much does samarium weigh? S...