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How do you prorate a refund?

Pro Rata Cancellation The return premium (or refund) is calculated by taking the number of days remaining in the policy period, dividing that by the total...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What are the portfolio weights of each stock?

The calculation is simple enough. Simply divide each of your stock position’s cash value by your total portfolio value, and then multiply by 100 to conver...

What can an accountant help me with?

What does an accountant do? 14 things you didn’t know an accountant could do. Accountants do more than you think. Launch a startup. Help with business str...

Would it be a good idea to allow business some flexibility or creativity in preparing financial statements?

GAAP helps maintain the relevancy of the information provided in the financial statement. The reason why flexibility or creativity should not be allowed i...

What does the statement of cash flows show?

A cash flow statement is a financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company. The cash flow state...

Is purchase account real or nominal?

The Purchase Account is a Nominal account and the Creditors Account is a Personal account. Applying Golden Rule for Nominal account and Personal account: ...

Are LLC payments guaranteed?

Any member of an LLC can receive a guaranteed payment — as long as the company’s operating agreement allows them. Be sure to clearly outline all payment s...

Is certificate of deposit an asset?

Because they have value and are owned by the company, certificates of deposit are considered assets. As assets, their value is displayed on the balance sh...

Is cash collection an operating activity?

Examples of the direct method of cash flows from operating activities include: Cash collected from customers. Interest income and dividends received. What...

How do I write an Acknowledgement letter for receiving money?

Dear Sir/Madam, This is acknowledge that we received USD ________ [enter amount received in written] from [Name of the company] in cash for the implementa...