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1 year ago

What are some tips for self-employed people to get one month ahead how to budget irregular income

1 answer:

3 0

Self-employment is an individual business or contract by a person. Some tips like a zero-based budgeting plan, no over-expenses, and saving can be used for budgeting.

<h3>What is budgeting?</h3>

Budgeting is the development of plans and strategies to save the funds and their employment in wise use. It can also be called a spending plan.

For a self-employed person to save money, they should use a zero-based budgeting strategy, not overspend in case of over-earning and save some amount of money every time by default.

Learn more about budgeting here:

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Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Cash flows= $8,000

Grow at a rate of 4% per year indefinitely.

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Present Value= periodic payment/ (i - g)

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B) i= 13%

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2 years ago

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1 year ago

On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,874. Cash receipts yet to be de

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Answer:

<u>Bank Reconciliation Statement</u>

Balance at bank as per the Cash Book (updated) $7,885

Add Unpresented Cheques $1,355

Less Bank Lodgements not yet credited ($3,268)

Balance as per bank statement $5,972

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Interest Earned $39 (credit)

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Bank $28 (credit)

Explanation:

<em>Step 1 Bring the Cash Balance in the Cash Book up to date</em>

Debit :

Balance as at August 31, 2021, $7,874

Interest Earned $39

Totals $7,913

Credit:

Bank service fee $28

Balance Up dated (Balancing figure) $7,885

Totals $7,913

<em>Step 2 Prepare the Bank Reconciliation Statement</em>

<u>Bank Reconciliation Statement</u>

Balance at bank as per the Cash Book (updated) $7,885

Add Unpresented Cheques $1,355

Less Bank Lodgements not yet credited ($3,268)

Balance as per bank statement $5,972

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3 years ago

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B. The method of charging their clients

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3 years ago

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