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Charles Lutwidge

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Charles Lutwidge is a writer with a passion for helping small businesses succeed. Having worked at multiple startups, Charles understands the unique challenges that entrepreneurs face. He writes about a wide range of topics, from management to bookkeeping to technology — all with a focus on helping business owners overcome key obstacles to growth.

Email: charles@bookstime.com
Phone: 8889026657

October 09, 2020

Charles Lutwidge
Amortizing Bond Premium with the Effective Interest Rate Method

Amortizing Bond Premium with the Effective Interest Rate Method

Premium Bonds Let’s assume that the business offers a bond with an interest of 10%, while the investment of similar risk in the market is 8%. Rationally, the investor would certainly choose to invest in the bond. However, the business managers..

Reading Time 3 mins
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October 09, 2020

Charles Lutwidge
Federal Insurance Contributions Act (FICA)

Federal Insurance Contributions Act (FICA)

What is FICA? The Federal Insurance Contributions Act (FICA) is a U.S. tax law that pays for Social Security and medical assistance programs. The Social Security Service pays pensions and survivors’ benefits, as well as benefits for the disabled. Medicare pays..

Reading Time 4 mins
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October 09, 2020

Charles Lutwidge
Minimum Wage and Overtime Pay

Minimum Wage and Overtime Pay

The United States of America is a large, diverse country, with many regions differing significantly in socio-economic and cultural terms. In general, the local population has a good standard of living, and a stable wage for the average American is considered..

Reading Time 4 mins
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Articles

September 29, 2020

Charles Lutwidge
Income Summary Account

Income Summary Account

Accounting requires all accounts to be balanced in such a way that there is no unrecorded amount of money left over when accessing the books. This requires following the rules for debits and credits, depending through which account the money is..

Reading Time 3 mins
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Articles

September 28, 2020

Charles Lutwidge
Statement of Stockholders Equity

Statement of Stockholders Equity

Definition Equity is the residual interest in the assets of a business after deducting all of its liabilities. It represents the claims of the owners on the assets of the company. Equity capital includes funds directly invested in the company by..

Reading Time 3 mins
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Articles

September 27, 2020

Charles Lutwidge
Cash Flow from Operating Activities

Cash Flow from Operating Activities

Company executives are interested in financial security and business stability, which is largely determined by the generated cash flow. In the course of its activities, an enterprise or company generates various cash flows. They can have a different focus – the..

Reading Time 3 mins
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Articles

September 26, 2020

Charles Lutwidge
Balance Sheet Template and Structure

Balance Sheet Template and Structure

Balance sheet – What is it? Everything in business, as in life, must be balanced. However, in business, this means something else. Even if you are not an accountant, you probably have heard about a Balance sheet as a thing that..

Reading Time 3 mins
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September 25, 2020

Charles Lutwidge
Cash Short and Over Account

Cash Short and Over Account

Overview Cash includes coin, paper money, checks, and money orders. Money on deposit with a bank and other financial institutions that are available for withdrawal is also considered cash. Cash is the asset most likely to be stolen or used improperly..

Reading Time 3 mins
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Articles

September 25, 2020

Charles Lutwidge
Dividends Account – Explanation and Example

Dividends Account – Explanation and Example

Definition Every once in awhile, a company may decide to distribute some of its earnings to its stockholders/shareholders. In financial accounting, they are referred to as dividends. They can happen frequently, such as every quarter, or a corporation may decide to..

Reading Time 3 mins
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