Bookkeeping

How to Calculate Amortization: 9 Steps

How to Calculate Amortization: 9 Steps

This is a $20,000 five-year loan charging 5% interest (with monthly payments). To calculate amortization, start by dividing the loan's interest rate by 12 to find the monthly interest rate. Then, multiply the monthly interest rate by the principal am...
The Differences in Wages Payable & Wages Expense
Employment Law 101: Accounting for Vacation Pay
Accrued expenses

Accrued expenses

Accrued salaries refers to the amount of liability remaining at the end of a reporting period for salaries that have been earned by employees but not yet paid to them. This information is used to determine the residual compensation liability of a bus...
How Do You Record Adjustments for Accrued Revenue?