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Prepaid Expenses Examples, Accounting for a Prepaid Expense

Consider a company that pays $90,000 upfront for a three-year software subscription. At the end of the first year, $30,000 remains in the prepaid asset account as a current asset, while the remaining $60,000 is classified as a non-current asset. Proper classification allows stakeholders to assess long-term financial commitments with...

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What is time and a half pay + how to calculate it

If you work Saturdays, Sundays, or holidays, you're not legallyentitled to any special pay. Despite the lack of any legal requirement, holiday pay is commonly offered by most employers, to incentivize workers and keepthem happy. If you receive an hourly wage of $17 per hour, your time and a half...

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