Answer:
I used an excel spreadsheet to record this transactions on an accounting equation.
Practice Makes Perfect, Inc.
Income Statement
For the month ended July 31, 202x
Revenues $2,000
Expenses:
- Advertising expense $500
- Rent expense $1,000
- Wages expense $1,000
- Supplies expense $300
- Depreciation expense $750
- Interest expense $417 <u> ($3,967)</u>
Net income ($1,967)
Practice Makes Perfect, Inc.
Balance Sheet
For the month ended July 31, 202x
Assets:
- Cash $99,783
- Accounts receivables $1,800
- Supplies $1,700
- Pianos $47,250
Total assets $150,533
Liabilities:
- Accounts payable $2,500
- Notes payable $50,000
Total liabilities $52,500
Stockholders' equity
- Common stock $100,000
- Retained earnings ($1,967)
Total stockholders' equity $98,033
Total liabilities + equity $150,533
Answer:
Role-Based Access Control (RBAC)
Explanation:
Instead of assigning access for each user account individually, Role-Based Access Control (RBAC) is a more efficient and easier-to-manage approach.
In computer systems security, role-based access control or role-based security is an approach to restricting system access to authorized users. <u>It is used by the majority of enterprises with more than 500 employees,</u> and can implement mandatory access control or discretionary access control.
Hence, access need not be assigned for each user individually.
Answer:
A. Telephone expense is debited $82; accounts payable is credited $82.
Explanation:
Mr. Peabody has incurred a debt of $82 on telephone expenses. His expenses have increased by $82, and his debts(liabilities) have also increased by $82.
An increase in expenses is recorded by debiting the relevant expense account. Mr. Peabody will debit the telephone expense account by $82.
Liabilities have increased by $82. An increase in liabilities is recorded by crediting the liabilities account. Mr. Peabody will complete this transaction by crediting the liabilities account by $82.
Answer:
1. 7.2
2. 9
Explanation:
take 72 and divide by number of years
72/x= ROI
Answer:
$2200000
Explanation:
Given: Beginning inventory= $500000.
Inventory purchased= $2000000 with discount of 10%.
Freight cost= $200000.
Ending Inventory= $300000.
Cost of goods sold= 
⇒ Cost of goods sold= 
⇒ Cost of goods sold= 
⇒ Cost of goods sold= 
Opening parenthesis
⇒ Cost of goods sold= 
∴ Cost of goods sold= 
Hence, $2200000 is the company’s 2017 cost of goods sold.
