Hariette should choose cash basis of accounting when she runs the profit and loss report. A company's reporting guidelines and practices for revenues and expenses make up its accounting method. Cash accounting and accrual accounting are the two primary accounting techniques.
Revenues and costs are recorded in cash accounting when they are received and paid. There are three different accounting methods: modified cash basis, cash basis, and accrual basis. Let's briefly review the fundamentals before we discuss which types of firms use certain accounting techniques.
If you only consider popularity, accrual accounting comes out on top since it is both the most popular and the most accurate techniques.
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Answer:
Check: 5,269.04
Explanation:
We will multiply each computer by the list price. Then, apply the order discount of 20%. Finally the invoice discount of 3% for payment within 10 days
7 computer x 970 dollars each = 6,790
20% Discount for quantity:
6,790 x 20% (1,358)
Invoice nominal: 5,432
discount within the first 10 days:
5,432 x 3% (162.96)
final amount: 5,269.04
Answer:
The value of the inventory on November 8 after the sale is $276.
Explanation:
Detailed steps are attached below
Demand and supply are creating customers who are educated about their needs and all the available options for meeting those needs.
Demand is when people are willing to buy and pay for goods and services at a certain time, while supply is the amount of goods and services available by suppliers to consumers.
There is usually an interaction between the sellers of a resource and the buyers for that resource hence supply create and make available resources while demand pay for the available resources.
Therefore, Demand and supply are creating customers who are educated about their needs and all the available options for meeting those needs.
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