Category: Bookkeeping

To calculate the depreciation expense for the first year, we need to apply the rate of depreciation (50%) to the cost of the asset ($2000) and multiply the

If a company buys a new vehicle for its fleet, the vehicle is considered a capital expenditure. Capital expenditures are defined as the costs of purchasing and upgrading

It monitors and reports disbursements and receipts from the accounts, ensuring proper fund allocations. The branch follows cash basis accounting, which means it involves recording cash at the