What are the rights of incidental beneficiaries?

In QuickBooks Online, the Products and Services list contains the items that will appear on your client's purchase and sales tra

fenix001 [56]

Answer:

A relevant account from the chart of accounts

Explanation:

QuickBooks is an accounting software that is designed to assist users with little accounting experience manage their financial records.

Transactions in QuickBooks are classed as products and services. These are mapped to relevant accounts in the chart of accounts.

For example mapping can be done to asset or liability accounts.

When mapping there are three classes products and services can be mapped to:

-Inventory

-Non inventory

-Services

When setting up new product and service the appropriate class is chosen and relevant account is assigned to the product or service.

For example sales tax is mapped by default to sales tax payable account.

7 0

3 years ago

Read 2 more answers

Jason Graham's startup, which is in the electronics industry, was launched on January 1, 2009. However, prior to its formal laun

Bas_tet [7]

Answer:

C) sweat equity

Explanation:

The definitions ok sweat equity are:

1. Increase in the value of a business (beyond the money invested) created by the unpaid mental and / or physical work of the founder / owner.

2. Increase in the value of a property (beyond its purchase price) created by the hard work of the owner / occupant in improving its comforts and / or appearance.

3. An additional percentage of a company's common stock (common stock) allocated to senior executives (beyond their current stock) as additional motivation to continue working hard for the success of the company.

8 0

3 years ago

Read 2 more answers

Consider a risky portfolio. The end-of-year cash flow derived from the portfolio will be either $120,000 or $300,000 with equal

Ivanshal [37]

Answer:

a. If you require a risk premium of 8%, how much will you be willing to pay for the portfolio?

the expected value of our portfolio = ($120,000 x 50%) + ($300,000 x 50%) = $210,000

the current market price of the investment = $210,000 / 1.13 = $185,840.71

discount rate = 5% + 8% = 13%

b. Suppose the portfolio can be purchased for the amount you found in (a). What will the expected rate of return on the portfolio be?

13%, it should be equal to the discount rate

c. Now suppose you require a risk premium of 15%. What is the price you will be willing to pay now?

the current market price of the investment = $210,000 / 1.21 = $175,000

discount rate = 5% + 15% = 20%

d. Comparing your answers to (a) and (c), what do you conclude about the relationship between the required risk premium on a portfolio and the price at which the portfolio will sell?

the higher the risk premium, the lower the market price of the portfolio

4 0

3 years ago

Journalize the following transactions assuming a perpetual inventory system:

natulia [17]

Answer:

May 5

Merchandise Inventory $6,000 (debit)

Freight Charges $100 (debit)

Accounts Payable : Archie Co. $6,000 (credit)

Cash $100 (credit)

May 12

Accounts Payable : Archie Co. $2,500 (debit)

Merchandise Inventory $2,500 (credit))

May 14

Accounts Payable : Archie Co. $3,500 (debit)

Discount Received $70 (credit)

Cash $3,430 (credit)

Explanation:

May 5

Recognize the Assets of Merchandise and a Liability : Accounts Payable : Archie Co. as a result of purchase.

Also Recognize the Freight Expenses since this is a F.O.B delivery

May 12

De-recognize the Liability : Accounts Payable - Archie Co. and the Merchandise Inventory asset to the extend of Merchandise returned to Archie Co.

May 14

De-recognize the Liability : Accounts Payable : Archie Co. of $3,500 and the Cash assets to the extend of Payment made to Archie Co less cash discount of $3,430 .

5 0

3 years ago

Barin Retail Outlets incorrectly recorded inventory in 2016. Rather than recording ending inventory as $960,000, Barin's accoun

Dennis_Churaev [7]

Answer:

Please see attachment

Explanation:

Please see attachment

8 0

3 years ago