The accounts receivable credit column of the cash receipts journal is "posted in summary at the end of the month and by individual amounts on a daily basis".
<u>Option: D</u>
<u>Explanation:</u>
In general ledger the sums in the debit and credit column are reported personally. The calendar of receivable accounts is lists of all clients 'accounts, account balances, and total amount due. Here the accounts receivable credit column are those in which the cash receipts journal column is the sums that are added separately to the receivable ledger accounts. Although debit column accounts payable are those in which cash payments journal column is the sums that are added separately to the accounts payable ledger.
Answer:
a raw material or primary agricultural product that can be bought and sold, such as copper or coffee. Or It Can Be a useful or valuable thing, such as water or time.
Explanation:
Answer:
C) Orally at the first contact and in writing at the first physical meeting
Explanation:
Since Fred is a buyer's agent, when he approaches a seller (the owner himself or a seller's agent), he has the legal obligation to disclose who he is to the seller. He doesn't necessarily have to say who his client is, but me must inform that he is a buyer's agent. If Fred contacts the seller by phone, he must disclose the information orally, or if he personally meets the seller, he must disclose the information in writing. Even if Fred disclosed the information by phone, he must still do it in writing if he meets with the seller on a later appointment.
Answer:
Holding period return = 4.94%
Explanation:
Given that :
Allan purchased 800 shares of stock on margin for $31
And He sold it at the rate of $33.50 after five months.
Initial Margin requirement = 65%
Maintenance Margin = 30%
Interest Rate on Margin loan = 7.5%
The Holding period return can therefore be calculated by the formula:
Holding period return = (sale price - purchase price - interest paid )/Purchase price
where ;
31 × 800 = 24800
Interest for five month = 5/12
Holding period return = (33.50-31)×800 - (7.5% ×24800× 5/12) / 24800
Holding period return = (2000-775)/24800
Holding period return = 0.0494
Holding period return = 4.94%
Answer: <u>Memos omit a closing signature.</u>
<u />
<u>(I took the test and this was the answer)</u>
