Autor: admin

Instead, you report taxes you’ll pay in the near future as a liability on the balance sheet. If you’re due a tax refund but you haven’t received the check, list the pending refund as an asset on the balance sheet rather than as income on the income statement. Many investors look at earnings per share…

Similarly, the IRS Form W-2 is entitled Wage and Tax Statement. The company makes payment of January salary in February, however, we need to record the expense in January to prepare the financial statement. Most of the company pays employees at the end of the month or even the beginning of next month. Merit Pay…