Answer:
Oct 1.
Cash $19,900 (debit)
Common Stock $19,900 (credit)
Oct 3.
Office Furniture $2,100 (debit)
Trade Payable $2,100 (credit)
Oct 6.
Trade Receivable: N. Fennig $3,250 (debit)
Revenue $3,250 (credit)
Oct 27.
Trade Payable $900 (debit)
Cash $900 (credit)
Oct 30.
Salary Expense : Administrative Assistant $2,650 (debit)
Cash $2,650 (credit)
Explanation:
In all non-cash entries remember to observe the <em>Accrual</em> or <em>Matching</em> Principle.Thus, transactions must be recorded when they accrue or incur not when they are paid.
Answer:
$2722.82
Explanation:
Present value of loan = $1,000 * [(1+5%)^3 - 1]/ 5%
= $1,000 * (1.157625 - 1) / 0.05
= $1,000 * 0.157625/ 0.05
= $1,000 * 3.1525
= $3152.50
The present value of loan before bank restructuring is $3152.
Future value = Cash flow / (1+r)^n
= $3152 / (1+0.05)^3
= $3152 / (1.05)^3
= $3152 / 1.157625
= $2722.82
Therefore, the final payment required to pay to make indifferent for both payment is $2722.82
I will not be able to illustrate the graph in the dialog box but instead, the writer will describe the long-run equilibrium of transnet. Long-run equilibrium in economics focuses on the period of time where the resource is still available and what is its costs and quantity produced.
A. Companies have the information they need to effectively satisfy wants and needs in the marketplace.
Basically, "hearing the voice of the consumer" means taking the information that they have about what people want and actually putting the preferences of the consumer first.
Answer:
LIFO
Explanation:
It will be the one that give higher Cost of goods sold. We also know that:
Cost of goods sold = Opening Inventory + Inventory Purchases - Closing Inventory
So this means the lower the closing inventory the higher the cost of goods sold and in time of price increases it will be more appropriate to use LIFO method which will reduce the Closing Inventory and this will increase the cost of goods sold and thus decrease in profit. This reduced profit means that the tax expense will also be lower in value.
Similarly the second attractive option will be the Weighted Average and the least attractive option would be FIFO costing method.