Railroad Fund – Update on 02/24/2020
In my prior article in this series, I mentioned an existing problem and that was the lack of volatility in the market. Today, I got what I wanted.
Transportation
Transportation as used in business is a term reflecting costs tied to tractors, trailers, trucks, autos, and other forms of transportation items (aircraft, marine, and rail cars). Depending on the nature of the particular industry, transportation costs may be assigned to cost of sales or in the overhead section of the income statement.
Bookkeeping – Other Transportation Costs (Lesson 63)
There is much more to transportation with bookkeeping than accounting for vehicle operations, addressing mileage reimbursements or tracking auto costs related to owners and family members. Bookkeepers must track the following too:
Bookkeeping – Mileage Reimbursement (Lesson 61)
Some small businesses manage transportation costs in incremental payments by utilizing mileage reimbursement. It is a very advantageous system if used correctly. Other small businesses augment their existing vehicle fleet by paying employees via mileage reimbursement for the use of the employee’s automobile.
Mileage Deduction – Rate for 2015
On December 10, 2014, the Internal Revenue Service announced the mileage rate deduction for 2015. They increased the amount allowed 1.5 cents to 57.5 cents per mile. How do you calculate and use the mileage rate formula for tax purposes?
Cost per Mile – The Basic Formula
In any industry, especially transportation, it is essential for the owner of a business to understand how much it costs per mile to operate his vehicle, trucks or fleet. The formula looks simple and in reality it is; but you must understand the underlying elements to truly appreciate and comprehend the calculation.
The Fixed Assets Section of the Balance Sheet
The fixed assets section of the balance sheet is one of the easiest sections to read and understand. This article is written to describe and illustrate some simple examples of the fixed assets section.
