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3 years ago

The price of money borrowed or saved is called _____. interest loan money supply

1 answer:

7 0

The price of money borrowed or saves is called INTEREST.

When you borrow money, interest is also paid on the principal. When you save money, interest is earned on the savings. This is the price of money borrowed or saved.

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Torres Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that T

Karo-lina-s [1.5K]

Answer:

Torres Company received $4,800 on May 12.

Explanation:

When The Sale was made, the following entries apply :

Trade Receivable $5,000 (debit)

Sales Revenue $5,000 (credit)

Cost of Sales $3,000 (debit)

Merchandise $3,000 (credit)

Freight Expenses $110 (debit)

Cash $110 (credit)

When Campbell Company returned Merchandise :

Sales Revenue $200 (debit)

Trade Receivable $200 (credit)

When Campbell Company pays for the goods

The payment is made 2 days out of the discount period, therefore not eligible for discount.

Settle amount in full less Return Allowance of $200

Trade Receivable $4,800 (debit)

Cash $4,800 (credit)

Conclusion :

Torres Company received $4,800 on May 12.

6 0

3 years ago

Comparing how many dollars it takes you to run your car each year to annual earnings on a job insteadof keeping track of costs i

stepan [7]

Answer:

Explanation:

Money has several functions, one of its principal function is using it as unit of account. By comparing the amount in dollars spent on running a car yearly to annual earnings instead of keeping track in terms of gasoline cost and quarts of oil shows that money has been used as a unit of account.

This means that the amount of gasoline gallons bought and quarts of oil has been essentially replaced by the cost of these purchases and hence avail is the power to use money as a unit of account

5 0

3 years ago

The consumer sales promotion that involves the use of a brand-name product in a movie, television show, video game, or a commerc

Marianna [84]

Answer:

The answer is option (C) product placement.

Explanation:

Product placement is a strategic advertising technique in which companies, firms and businesses subtly promote their products or brands through a non-traditional advertising technique such as appearance of the product or brand in films, video games, movies, television show or a commercial for another product.

In other words, companies, firms and businesses are said to have carried out product placement when they pay for their products or brands to appear or to be featured in films, video games, movies, television show or on a commercial for another product.

8 0

3 years ago

What are four things a great résumé shows employers?

DaniilM [7]

Training, education, or experience to validate you can do the job you are applying for
Experience
Achievements
Reliable

8 0

3 years ago

Devin Company has the following data for their budget and actual performance. Actual Master budget Master Budget Variance Sales

snow_tiger [21]

Answer:

The operating income master budget variance 6687 Unfav

Explanation:

Devin Company

Actual Vs. Budget Performance Report

For the year

Actual Master Master Budget

Performance budget Variance

Sales 150,298 155,842 5544 Unfavorable

Variable Costs 65,548 63,937 1611 Unfav

Fixed Costs 12,007 12,475 468 Fav

Operating Income 72743 79430 6687 Unfav

The operating income master budget variance is unfavorable because actual operating income is less than the budget operating income .

When the actual sales revenue is less than the budgeted revenues the variance is unfavorable.

When the actual costs are more than the budgeted costs the variance is unfavorable, and favorable when the actual costs are less than the budgeted costs.

6 0

3 years ago