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<u>Explanation:</u>
Payables control accounts helps to maintain each supplier account as a separate subsidiary ledger and reducing the amount of postings in the general ledger. Receivables control account is useful to maintain the credit sales through separate subsidiary ledger.
When there is a control account then the the trial balance of the firm can be easily prepared by seeing the general ledger.
Book keeping errors can also be identified by reconciling the balance on accounts payable and general ledger accounts.
Yes it does because it helps us to be aware on the things that we should know on how to raise the animals with care.
Taxes levied on the sale, manufacture or use of specific items such as liquor, cigarettes, and gasoline are known as <u>selective sales taxes</u>, as well as <u>excise taxes.</u>
So, there aren't taxes on a whole bunch of products, but rather on a selected few, which (in the case of alcohol and cigarettes) are considered detrimental to the society and thus people who want to use them have to pay a little bit more in order to have that commodity.
Answer:
$368,000
Explanation:
In order to appraise the property using the capitalization approach, we must first determine a net cash flow:
net cash flow = $48,000 - $3,600 - $15,000 = $29,400
Now we calculate the property value using the perpetuity formula:
property value = net cash flow / capitalization rate = $29,400 / 8% = $367,500 which we must round up to $368,000
A property is being appraised using the income capitalization approach. Annually, it has an estimated gross income of $48,000, vacancy and credit losses of $3,600, and operating expenses of $15,000. Using a capitalization rate of 8%, what is the property's value (rounded up to the nearest $1,000)?
