Sum both the Total Products and Total Labor cells and enter the value into the Subtotal cell. Add on any Sales Tax to the Subtotal, and enter the result into the TOTAL cell. Below, enter how many days the customer has to pay the invoice in full followed by any comments or instructions for the client. This can include…
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The currencies inside the lockbox should be equal to the ending balance. Every month, or as cash is needed, the custodian should summarize the petty cash log by expense account and record a journal entry debiting each expense and crediting petty cash. With a petty cash fund in place, you can pay for small expenses…
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Microsoft spent $29.5 billion on research and development (R&D), over $24.4 billion on sales and marketing costs, and $7.6 billion on general and administrative costs. Total operating expenses are computed by summing all these figures ($74.1 billion + $29.5 billion + $24.4 billion + $7.6 billion) to arrive at $135.7 billion. Accounts provide the foundation for…
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