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Providing Disaster Relief through Charitable Organizations: Working with Volunteers Internal Revenue Service

However, they cannot deduct overhead costs such as depreciation, maintenance, repairs or license or registration fees. Most public charities are qualified organizations, as are many nonprofit private foundations. If you are uncertain whether an organization qualifies to receive deductible donations, you should ask the organization for a copy of the IRS letter approving the organization’s […]

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Gross Profit Ratio with Examples, Formula, and More .

Put simply, a company’s net profit margin is the ratio of its net profit to its revenues. Profitability ratios are useful because you can compare performance to prior periods, competitors, or industry averages. But keep in mind that some industries have seasonal fluctuations in profitability. It is typically used to evaluate how efficiently a company […]

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4 2 Discuss the Adjustment Process and Illustrate Common Types of Adjusting Entries Principles of Accounting, Volume 1: Financial Accounting

Double-entry bookkeeping requires that all accounting transactions have equal debits and credits. Accountants may use different types of trial balances for specific accounting tasks at different times. The purpose of an Unadjusted Trial Balance is to provide a snapshot of the company’s financial position at a specific point in time, showing the total debits and […]

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