Hariette should choose cash basis of accounting when she runs the profit and loss report. A company's reporting guidelines and practices for revenues and expenses make up its accounting method. Cash accounting and accrual accounting are the two primary accounting techniques.
Revenues and costs are recorded in cash accounting when they are received and paid. There are three different accounting methods: modified cash basis, cash basis, and accrual basis. Let's briefly review the fundamentals before we discuss which types of firms use certain accounting techniques.
If you only consider popularity, accrual accounting comes out on top since it is both the most popular and the most accurate techniques.
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The risks diagnosed from beyond encounters are inward risks, for example, value danger, plan risk, execution risk, useful gamble, and so forth.
Nevertheless, positive dangers can not be distinguished and connected with dubious economic occasions and are from the place of the mission where there aren't always yet enough records to apprehend what modifications would possibly appear. Such dangers are a) market chance coming from outside contests, mortgage charge changes, credit inaccessibility, unusual trade vacillations, and so forth.
Governance change risks from the corporation's execution on CSR problems, morals, emblem picture, notoriety, and so on. c) legal gamble to abrupt claims, non-compliances, and so on d) Political gamble because of development in authorities strategies, guidelines, change in government itself, and so on.
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Answer: See explanation
Explanation:
The amount of depreciation for the month of January using the straight line depreciation method will be:
= (Cost - Salvage Value) / Life of Assets / 12 Months
= ($64,800 - $0) / 6 Years / 12 Months
= $10800/12
= $900 per month
The adjusting entry for depreciation on January 31 will be:
Dr Depreciation Expense - Computer Equipment $900
Cr Accumulated Depreciation-Computer Equipment $900
(To record the depreciation expense)
The formula is
I=prt
I interest paid 1120
p principle 32000
T time 4/12
R annual percentage interest rate?
Solve for r
R=I÷pt
R=1,120÷(32,000×(4÷12))
R=0.105×100
R=10.5%
After the sale, salespeople should only follow up with the buying center members who are directly involved in the use of the product.
The members of the buying center will be responsible for making decisions regarding variables that allow the monitoring of factors such as:
- Direct buyback
- New task
- Modified buyback
- Product type
This monitoring will help to understand consumption and satisfaction trends so that the purchase and sales strategy is carried out more effectively and aligned.
Therefore, salespeople should follow up after the sale only with buying center members, who will provide them with guidance to make more sales of certain most consumed products.
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