Each party has legal obligations in the agreement/contract, and which they connectedly exchanged of value whether it was a product, service, money, etcetera.
For the purpose of accounting, there are three types of expenditure. These are Capital Expenditure, Revenue Expenditure, and Deferred Revenue Expenditure.
Capital Expenditure is the amount incurred in acquiring long term assets like land, buildings, equipments (which are used for the purpose of earning revenues). These costs are reflected in the account of Property, Plant and Equipment.
Revenue Expenditure is cost incurred in one accounting year wherein the benefits are also enjoyed in the same period only. It does not increase the earning capacity of the business, instead, it maintains the existing earning capacity of said business. This expenditure is recurring in nature like salaries and wages, selling and distribution expenses.
Deferred Revenue Expenditure is a revenue Expenditure which has been incurred within the current accounting year but its benefit will be extended to a number of years. This cost is charged to the Profit and Loss account. Example of this is advertising cost.
Answer:
$44,100
Explanation:
Larry Bar
Investment in Cash - Receptionist's salary+Sales of custom frame = Cash account balance
Investment in Cash $40,800
Paid $2,000 Receptionist's salary $2,000
Sales of custom frame $5,300
Hence:
$40,800-$2,000+$5,300
=$44,100
Cash account balance will be $44,100
Answer:
Bail
Explanation:
Bail is just a measure of cash that is saved with the court to guarantee that you appear for all court procedures. You can post your bail in real money with the court, and you will at that point be discharged from authority.
In the event that the litigant needs more money to post the whole bail, the court will acknowledge a bail security.
The reason for bail is to guarantee that a respondent returns for future court appearances.