Give journal entries to record the above and prepare the balance sheet of the company. In this case, the $5,000 will directly add to the balances in the inventory account. Likewise, on October 12, 2020, the company can check how much…

You can deduct half the expense of meals when meeting clients, discussing projects, or traveling for business purposes. Additionally, keep notes on the purpose of each service, especially if the expense covers multiple activities, to clarify its business relevance during tax…

Form is the official IRS audit letter for reconsideration that gives taxpayers the opportunity to explain which decisions they disagree with upon receiving results from an IRS audit. This allows additional time for any necessary appeals, assessments, and the issuance of…

A startup in its own right, Mercury Bank launched in 2019 and is hyper-focused on product design and user experience. The online-only banking option offers an easy-to-use platform, quick sign-up process and a suite of free or low-cost services for its…