Answer:
Explanation:
The journal entries are shown below:
1. Petty cash A/c $1,100
To Cash A/c $1, 100
(Being the petty cash fund is established)
2. Office supplies A/c Dr $614
Miscellaneous selling expense A/c Dr $200
Miscellaneous administrative expense A/c Dr $145
Cash short and over A/c $26
To Petty cash A/c $985
(Being the expenses are recorded)
The Cash short and over is computed below:
= $1,100 - $115- $614 - $200 - $145
= $26
Answer:
The situation is called insolvency. bank is unable to pay to depositor.
Explanation:
The situation is called insolvency. insolvency is refer to the situation when debtor is unable return its debt. The same is happened in the given situation. In the above case due to not paid by manufacturing unit, bank is unable to pay to depositor.
Insolvency is refer to that critical condition when debtor unable to pay amount to depositor. In the above given case even if bank want to sell its all assets it cannot cover its liabilities.
Answer: the correct option is E.
Explanation: Direct marketing can be referred to as an advertising strategy that implements an individual distribution of a sales pitch directly the to potential customers. The delivery systems used here, include, mail, e-mail, texting, and calls.
This method of marketing is called direct marketing because it is usually carried out without the use of middleman such as advertising media. This is because it will make no economical sense to utilize the media to market to just one particular customer.
Therefore, the direct method of marketing is not used in combination with other forms of promotional media.
Answer:
A= $4,838.95 monthly
Explanation:
Giving the following information:
She is currently planning to retire in 30 years and wishes to withdraw $10,000/month for 20 years from her retirement account starting at that time.
First, we need to calculate the amount needed for retirement:
FV= 10,000*12*20= 2,400,000
Now, we can use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
Effective rate= 0.02/12= 0.0017
n= 12*30= 360
A= (2,400,000*0.0017)/[(1.0017^360)-1]
A= $4,838.95 monthly
Answer:
The euro has gained strength against the dollar.
Explanation:
Exchange rate is a measure of the value of one countrie's currency compared with another. For example how many dollars can be exchanged for a euro.
Most exchange rates are free floating, meaning their value is determined by market forces (demand and supply).
Some countries however peg their currency value.
So in this scenario Thomas is giving more dollars for fewer euros because the euro has more value.
