<h3>Answer:</h3>
Under the periodic inventory system.
What is periodic inventory system?
Under the periodic inventory system, the cost of goods sold determined at the end of an accounting period by adding the net cost of goods purchased to the beginning inventory and subtracting the ending inventory.
Answer:
An expert, more generally, is a person with extensive knowledge or ability based on research, experience, or occupation and in a particular area of study.
Explanation:
Answer:
Uncle accounting:
Cash Note Payable
DEBIT CREDIT DEBIT CREDIT
450 450
Bank Accounting
Cash Note Receivables
DEBIT CREDIT DEBIT CREDIT
450 450
B.- False
Explanation:
The uncle will see a decrease in their assets (cash) and a decrease i ntheir liabilties(Note payable)
Therefore their net equity (wealth) will remain the same
The bank will record the collection from their client and decrease their receivables.
Answer:
The correct answer is letter "C": realization.
Explanation:
Realization is the transformation of assets into cash as a result of sales. Realization typically is recorded in the company's accounting book for advance payments for goods, services, delayed payments, and multiple deliveries. It does not represent part of the equity of a company until the cash is received. Thus, should not appear in a partnership equity statement.
Answer:
<em>Future Value of the Investment</em>
<em>Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth in the future. </em>