Answer:Double-entry bookkeeping, in accounting, is a system of bookkeeping where every entry to an account requires a corresponding and opposite entry to a different account. The double-entry has two equal and corresponding sides known as debit and credit. The left-hand side is debit and right-hand side is credit.
Explanation:
Considering the situation described above, the answer to this question is an example of quantitative research.
This is because quantitative research is a type of research that seeks to measure and interpret numerical data.
It is carried out by gathering, assessing, and decoding numerical data. These data can be responses from people, which are then ranked based on number of respondents on each response.
Thus, in this case, the options that ranked highest in number would be the option the researcher would pick.
Hence, in this case, it is concluded that the correct answer to the question is Quantitative Research.
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Answer: True
Explanation:
A small business loan is known to be a loan given to an individual in order to start a business. The loan is used for running the day today activities of the business. The borrower that is the business owner reaches an agreement with the lender to repay the loan with interest over a specified period of time.
Answer:
April,
- Sales is zero
- Net income is zero
- Net cash flow is an outflow of $100,000 (used in the purchase of raw materials)
May,
- Sales is $150,000
- Net income is $500,00
- Net cash flow is zero
And in June;
- Sales is zero
- Net income is zero
- Net cash flow is an inflow of $150,000 (amount received from customers)
Explanation:
In April, the company purchased raw materials (Sugar and Peppermint) for $100,000. The entries posted are debit to Inventories and Credit to Cash account (both amounting to $100,000 each).
As such in April,
- Sales is zero
- Net income is zero
- Net cash flow is an outflow of $100,000 (used in the purchase of raw materials)
It produces its candy and sells it to distributors in May for $150,000, but it does not receive payment until June.
When the sale is made in May, the entries required is Debit accounts receivables $150,000 and Credit Sales revenue $150,000. Also, Debit cost of goods sold $100,000 and Credit Inventories $100,000.
Net income is the difference between sales and cost of sales.
As such in May,
- Sales is $150,000
- Net income is $500,00
- Net cash flow is zero
For June,
Payment for goods sold in May were received, entries posted are debit to cash account and a credit to accounts receivables (both balance sheet accounts), hence;
- Sales is zero
- Net income is zero
- Net cash flow is an inflow of $150,000 (amount received from customers)
Answer:
Alternatives :
1. Bank Overdraft facility
2.Suppliers Credit
Cost determination :
1. Bank Overdraft facility = Interest rate charged on the facility by the bank
2.Suppliers Credit = Opportunity cost of losing the early settlement discount.
Explanation:
If the company can not access sufficient external financing, consider internal sources such as bank overdraft or suppliers credit.
The cost of bank overdraft is evaluated based on the interest rate charged by the bank whilst the cost of the suppliers credit is determined by considering the opportunity cost of losing the cash discount available.
