Posts by Carol Price4

ruggedcyclist74 said:Honestly, if you could see how perfectly my dear husband roasts chicken... with potatoes... there's truly nobody better; I could spend a hundred years trying and still never manage to get it that juicy yet crispy.

And since it's such a cardinal sin to skip lunch, for heaven's sake Jessica Grant56, 😲 why don't you just cook it on Sundays at the very least????????

😂 Well, now you tell me, Jessica Grant56... you asked for it, and now you've got it, 🤣

rapidsailor94 said:Mr. Darcy,
Thanks so much for the reply—it really clears things up for me. So, we actually can file for a VAT refund from Italy?!

First thing you should do is check the FedEx database using the VAT ID to make sure they're actually registered...

Here’s something for the deep thinkers..😁

absurdity.com

Daniel Reed68 said:Hi there,

I’m picking up an acquisition from the USA later this month, but we have to deal with excise taxes on certain goods. I read somewhere that those excise taxes actually get rolled into the base amount when calculating the sales tax at the time of purchase. If anyone out there knows the specifics of how that works, I’d really appreciate some help.

2. Tax Base for Goods Acquired within the European Union
Section 34.
(1) The tax base for acquiring goods within the European Union is determined based on Section 33 of the Domestic delivery law. In cases involving the acquisition of goods under Section 9, paragraphs 3 and 4 of this Law, the tax base shall be the purchase price of said or similar goods—or, if that price isn't known, the total costs established at the time of delivery.
(2) Included in the tax base as described in paragraph 1 of this section are any excise taxes that the acquirer is required to pay or has already paid for goods subject to such taxes within the European Union.
(3) If the acquirer manages to get a refund for excise taxes paid in the member state where the shipment or transport began after the acquisition has taken place, the tax base for the acquisition will be reduced accordingly.

Ashley Vaughn79 said:I wasn't quite sure where to ask, but this thread felt like the right place to start.

First off, I want to give you all a shout-out; I've been lurking here for a while now, and your posts have honestly been such a huge help. 🙂

The thing that’s really weighing on me is dealing with testing during job interviews.
Yes, you read that right. 😁

Even though I have plenty of experience in accounting and handling year-end closings, the truth is, I am terrible at solving textbook problems.
They leave me feeling pretty lost. 😵

So, if I may, I'll just put together a little practice test myself, like...

1. On March 4th, 2013, a company buys a piece of machinery for $10,000.00 plus $2,500.00 in sales tax. Show the journal entries.
2. The machine is put into service immediately, and the bill is paid via the business checking account. Show the journal entries.
3. Calculate the depreciation through the end of 2013 and show the journal entries.
4. The machine is leased to a customer, and an invoice is issued for $ $333 plus sales tax. Show the journal entries.
5. The customer pays the invoice into the business checking account.
6. Cash in the amount of $ $167 is withdrawn from the checking account for office supplies.
7. FedEx is a business partner; the bill is for $300.00 plus sales tax, and it's paid in cash from the petty cash drawer. Show the journal entries.
8. Based on the data above, prepare a balance sheet.
9. Calculate the equity.

That’s the kind of stuff I run into...

And what absolutely, terribly confuses me is how to actually solve them. 😁

How do you guys tackle these?

For example, the entry for the first problem should probably look like...
Debit: Construction in Progress $10,000.00
Debit: Sales Tax Receivable $2,500.00
Credit: Accounts Payable $12,500.00

I suppose that would be correct if the company interviewing me uses a specific standard chart of accounts, but I'm never sure if I should write out both the account numbers and names, or just the numbers, or... what if I can't remember a specific account number but I know it has a zero balance?

And then there's the part about putting a balance sheet together...
Should I just build it based on the accounts—like how it comes out of accounting software (which is honestly easiest for me)—or should I try to match the format used for IRS filings (which I only fill out once a year and truly cannot construct from memory if I'm just sitting there with a blank sheet of paper, a pencil, and maybe a calculator)?

And if I decide to go with the IRS style... do I need to list every single line item and just fill in the ones with values, or do I just fill in the relevant ones and act like the rest don't exist?

Also, this part: "Calculate the equity" (yes, that's exactly how it's phrased)... what exactly do they mean by that? 😕
Equity?
Do they mean net income?
Book value or tax value?

Anyway, well... now that I've vented a bit 🙈 I would love it if someone could share some experience. Or even just a kind word. 😁
It would be great to hear from someone who has been on the other side of the interview table and watched people struggle through these tests.

Am I the only one who gets tripped up by these kinds of questions? 😳

Any help, thoughts, or advice would be appreciated.
I hope someone writes back. 😁

Thanks in advance. 🙂

So, equity is assets minus liabilities—easy enough—but where are they hiding the starting bank balance or the cash on hand? Hehe, I just love it when people hand out these half-baked problems and leave you to figure out the rest...

It's just a standard balance sheet organized by account type, but honestly, who actually memorizes every single line item?
Good luck, seriously.

Jessica Grant56 said:I can probably just make you a spare key, so go ahead and head in...

🙂🙂🙂

If anyone has an entry for the ripup—shoot me a DM...

Henry Edwards33, I think you grabbed the wrong quote there— 🙂 honestly, it might be time to just head to the casino, you missed your window, haha

Richard Howard55 said:Fine. Writing the text on an invoice is easy enough. But I wasn't suggesting it was weird; I was talking about the scenario where someone who isn't even in the VAT system ends up filing a VAT return and a consolidated report.

They can probably just check if the business owner actually accounted for the sales tax... whereas here, it has to show up as an acquisition on our end.

Richard Howard55 said:So, Carol Price4 found it and posted the link. Check response number 18.

My eyes nearly popped out of my head when I read that interpretation.

Apparently, an entrepreneur who isn't even registered for sales tax will still have to file a sales tax return and a summary report during the months they provide services within the USA.
Instead of just citing a specific code on the invoice, they'll have to write out the full text and the article explaining the exemption.

Isn't that bizarre? 😕

From what I gathered, you need to list both Section 90(2) and Section 17(1)—🤷
Section 17(1) covers the transfer of tax liability, while Section 90(2) handles the actual exemption.

Just look at that last sentence...

Richard Howard55 said:I was asking whether I actually need to request a VAT ID if I'm invoicing a service to Austria—especially since I'm not even registered for VAT myself (just a small business, under $76667).
One answer I found on the IRS website totally confused me, so I sent them an inquiry, but they haven't gotten back to me at all.

If anyone knows the deal, let me know... 🙂

You definitely need it if you're invoicing a business, but if you're billing a private citizen, you should probably check with their local IRS office to see if there are any obligations involved... check out item no. 18.

http://www.irs.gov/VAT/....07.2013.).pdf

Seriously, if you can't see it—here, I'm sending you a ☕ ....🤣

Jessica Grant56 said:Thanks for clearing that up.🙂 It’s actually pretty simple... though now I'm left wondering 😂—I mean, I'll try, but seriously—why aren't there any smileys for peppers, Luke, or tomato salad??? 🙂 Still, I'm very 🙂 and sending you your favorite one... 🙂 (is that supposed to be a dig?!???)

And what about this other thing?!? Come on, we really have nothing to talk about... or anyone to talk to. Who needs what?? Luke! And water.

Oh, wait, I almost forgot... She says you're being SHREWD, so maybe Luke is up to something suspicious here?!?

Noooooo way, you finally figured out the emojis.... 😁

I can't wait for those 300-sentence essays of yours—let's see how they look with all these new additions.🤣

Wait—I didn't even mention Techno, so am I just advertising it now? Nice one! I guess I should have been praising Pepper instead—that would’ve definitely triggered a wave of bitter laughter from everyone...

Seriously though, we need to come up with a special nickname for Terry Johnson3 since we already have Pepper.

From here on out, Terry Johnson3 is being renamed *Onion*—because he’s so intense that users end up tearing up just trying to work with him. 🤣

Jessica Grant56 said:Honestly, you just have to push his buttons a little—then there he is.

He’s definitely lurking—just waiting to jump out from nowhere,🤣

You drop some brilliant insights and then—poof—he vanishes again! 🙂

Henry Edwards33 said:Not me. If you have a link, send it over. 😁

Look, I'm sorry, but that isn't my concern.

You guys are all way too sensitive and high-strung. 😛

What spam? What topic?

Don't be so dramatic; your favorite forum buddy loves you...

I'm just overwhelmed by all this affection... 🙂

Here’s a snippet from an email...

The new American labor laws—man, things are changing fast.
Labor Law Studies and Legal Practice Essentials

Dragan Zlatović, Ivan Malenica, JD

It’s a gorgeous hardcover—book format 6.7 x 9.4, beautifully sewn, and even features a ribbon marker. Plus, the layout is super clean and easy to read—comes in at 818 pages.

This book offers a top-tier analytical look at the new American labor laws—breaking down all those heterono and autonomous regulations within employment relationships—including every single amendment up through mid-2013. It’s packed with over 200 rulings and excerpts from recent court cases and federal agency opinions, too. The whole thing is split into four sections covering individual and collective labor law, plus a deep dive into specialized areas like civil service rules, foreign worker regulations, employment for artists, public institution directors, minor labor laws, and even things like bankruptcy proceedings, worker rights, safety standards, mobile workers, and whistleblowers. I've attached a quick overview of the table of contents! — Honestly, this is the go-to manual used by the US Department of Labor inspectors.

I've also got three PDFs to go along with this—if you want to dive into the nitty-gritty, just shoot me a DM with your email and I'll send them over.

Jessica Grant56 said:I don't know, the thought just kind of hit me out of nowhere... Just imagining three little bell peppers—like that user 3 from Salem over on this forum—chatting away in the middle of the night... Honestly, I'm checking out. Full throttle, I'm gone.

P.S. A little flower and a treat for all you bell peppers to go with your coffee. Maybe some chocolate too, if you're feeling fancy.

So, where are you running off to now, right when things are getting good?

It can't be that you're actually scared of three bell peppers... we aren't habaneros, for crying out loud!😂

Jessica Grant56 said:Are you seriously breaking the rules the admin set up? This honestly feels like a blatant advertisement!

Nah, Jessica Grant56—that was all happening before Disney bought out the rights to the show🤣

Lilli actually got an email explaining everything—it’s not even called Pup anymore... it's Paprika now
Why'd you even post this before the email went out...😁

Ugh... seriously... if they sent an email for every single little update, our inboxes would just explode...

Has anyone else been hit up with an offer for that labor law textbook they claim the Department of Labor actually uses?

restlesstiger102 said:Does anyone here 😁 happen to know the best way to vet a company based in China? I want to make sure I'm dealing with a legitimate operation rather than some
fly-by-night scam.

The main agency helping foreign businesses find partners in China is the CIA (Trade Information Center)

China Information Center - CIA
To search for companies in China—check out fdi.gov.cn
For a list of state-owned enterprises—try gov.cn