For a person who travels often, the main consideration in purchasing a computer would be portability.
What does portability mean in it?
If a computer program can be used in an operating system other than the one it was designed for without requiring extensive rewriting, it is said to be portable. The process of porting entails carrying out any work required to enable the computer software to function in the new setting.
What are the most important considerations when comparing computer systems?
The speed and storage capacity of the computer are among the more crucial factors. These factors are categorized under the term "computer specifications," which is used to describe how well a computer will function.
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Answer: See explanation
Explanation:
The journal entry will be prepared as follows:
May 1:
Dr Account receivable $36000
Cr Sales $36000
(To record sales)
Dr Cost of goods sold $23540
Cr Inventory $23540
(To record cost of goods sold)
August 30:
Dr Cash $10380
Dr Allowance for doubtful accounts $25620
Cr Account receivable $36000
(To record collection and written off)
December 8:
Dr Account receivable $25620
Cr Allowance for doubtful accounts $25620
(To record reinstatement)
Dr Cash $25620
Cr Account receivable $25620
(To record collection)
Answer:
c) keep a portion of deposits in reserves but lend out the rest.
Explanation:
Fractional reserve banking -
It is the system , where the fraction of the bank deposits are backed by the actual cash money on hand and is for the withdrawal purpose .
This helps to expand economy of the country , by lending more .
The bank reserves certain amount with itself and the rest amount is given for the lending purpose .
Answer: 1, 2, and then 3
Explanation:
To adjust a partner's basis in the partnership, first increase the basis for a share of ordinary business income as this adds to their interest.
Then decrease for share of separately stated loss items as these are losses and will reduce the basis. Finally decrease the basis for any distributions because distributions reduce a partner's interest.
Answer:
Debit Credit
July 2021
Cash 17,500
Loan payable 17,500
June 30, 2022
Loan Payable 17,500
Interest payable 2,100
Cash 19,600
Adjusting Entry's
Debit Credit
Interest expense 1050
Interest Payable 1050
Explanation:
Interest for the year = 0.12*17500=2100
Interest expense 2021= 6/12*2100= 1050
