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What Is the Interest Coverage Ratio?

Juin 19, 2024 |

If you have another loan of $5,000 with a 5 percent monthly interest rate, you will owe $250 extra after the interest is processed. Ultimately, you must allocate a percentage for your varied taxes and any interest collected on loans or other debts. Your net income is...

What is a Sole Practitioner?

Avr 29, 2021 |

While freelance solicitors are not treated as ‘sole practitioners’ under our rules, they are under the MLR. To operate a professional business as a sole practitioner, individuals must have the proper business licenses, permits or certificates. For instance, many...

Recording a bank adjustment

Jan 28, 2021 |

The adjustments made in journal entries are carried over to the general ledger that flows through to the financial statements. In this case, if the error is due to the bank’s fault, it should be included in the bank reconciliation as the reconciliation item; and no...

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