Why it is important for a business to identify the direct variable and indirect fixed costs?
When you have a business, you have direct and indirect costs. Tracking these expenses is key to having up-to-date books, receiving tax deductions, and mak...
Knowledge Base
Latest insights and tutorials from the The Daily Horizon team.
How do I account for services rendered?
Service Revenue Journal Entries The journal entry for services rendered for cash is to debit Cash and credit Service Revenue. Cash is an asset account hen...
Read More →What are the sources of finance for a public limited company?
Internal sources are the major traditional sources of finances for public limited company. They include personal savings, working capital, retained profit...
Read More →How do I write a letter to Dear Sir?
Forms for signing off a letter vary depending on how you addressed it. The rule is that if you addressed it ‘Dear Sir’, then you sign off ‘Yours faithfull...
Read More →How do I calculate price per ounce?
Divide the price of the object by the number of ounces the object weighs. In the example, $200 divided by 10 oz. equals $20 per ounce. How many pounds is ...
Read More →What is a good total margin?
An NYU report on U.S. margins revealed the average net profit margin is 7.71% across different industries. But that doesn’t mean your ideal profit margin ...
Read More →How does cash flow statement affect balance sheet?
The cash flow statement shows the cash inflows and outflows for a company during a period. In other words, the balance sheet shows the assets and liabilit...
Read More →What is a gross income example?
Your gross income is the amount of money you earn before anything is taken out for taxes or other deductions. For example, even though your monthly salary...
Read More →WHO issues debit and credit note?
A debit note is issued by the customer or buyer of the goods to the supplier or the seller of the goods whereas a credit note is issued by the supplier or...
Read More →What does commercial mean in zoning?
Commercial: An area allowed for commercial activities like retail stores and offices; Industrial: Property used for manufacturing purposes; Agricultural: ...
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