Basics
How do I calculate the amount of sales tax that is included in total receipts?
To calculate the sales tax that is included in a company’s receipts from items subject to sales tax, divide the…
August 16, 2021 · Boomi NathanAuthor: Boomi Nathan
J. BoomiNathan is a writer at SenseCentral who specializes in making tech easy to understand. He covers mobile apps, software, troubleshooting, and step-by-step tutorials designed for real people—not just experts. His articles blend clear explanations with practical tips so readers can solve problems faster and make smarter digital choices. He enjoys breaking down complicated tools into simple, usable steps.
Basics
What is the cost of goods sold?
The cost of goods sold is the cost of the merchandise that a retailer, distributor, or manufacturer has…
August 16, 2021 · Boomi NathanBasics
What is the difference between the cash basis and the accrual basis of accounting?
Under the cash basis of accounting… 1. Revenues are reported on the income statement in the period in which the cash is…
August 16, 2021 · Boomi NathanBasics
What is the distinction between debtor and creditor?
A debtor is a person or enterprise that owes money to another party. (The party to whom the money is…
August 16, 2021 · Boomi NathanBasics
What are accruals?
Accruals are adjustments for 1) revenues that have been earned but are not yet recorded in the accounts, and 2) expenses that have…
August 16, 2021 · Boomi NathanBasics
What is the difference between accounts payable and accounts receivable?
Accounts payable are amounts a company owes because it purchased goods or services on credit from a supplier or vendor. Accounts receivable are amounts…
August 16, 2021 · Boomi NathanBasics
What is the purpose of subsidiary ledgers?
A subsidiary ledger contains the details to support a general ledger control account. For instance, the subsidiary ledger…
August 16, 2021 · Boomi NathanBasics
What is a general ledger account?
A general ledger account is an account or record used to sort and store balance sheet and income statement transactions. Examples of general…
August 16, 2021 · Boomi NathanBasics
Underwriting Agreement
After the determination of the Issue Price and allocation of our Equity Shares but prior to filing of…
August 16, 2021 · Boomi NathanBasics
Under Writing of Shares and Debentures
Underwriting is an agreement, with or without conditions, to subscribe to the securities of a body corporate when…
August 16, 2021 · Boomi Nathan