The credit balance in cash short and over at the end of an accounting period is reported as an expense on the income statement.
Income is the consumption and savings opportunity that a business captures within a specific time frame, usually expressed in money. Income is difficult to define conceptually and definitions vary by region.
The definition of income is the amount of money received by an individual, group or business during a specified period. An example income is an annual salary of $70,000.
Income is money received by an individual or business in return for providing work, producing goods or services, or investing capital. While individuals usually earn their income through wages or salaries, businesses generate income from the sale of goods or services that exceed their production costs.
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Answer:
Least Market Risk - Fitcom Corp. as it has the lowest beta.
Explanation:
According to the given table, as we can see that there are 4 types of stock, 4 investment, 4 beta, and 4 standard deviations. Now, as per the requirement of the question the least market risk to the portfolio of the stock is Fitcom Corp. as it has the lowest beta that is 0.50.
Therefore the right answer is Fitcom Corp.
Answer: c. small changes in economic growth rate lead to large GDP changes over time.
Explanation:
If there is even a small change in the rate at which the economy is growing, this increase will increase by even more the year afterward and then even more as time goes on. This is because the interest is being compounded overtime.
Look at the future value formula that shows compounding for instance:
Future value = Amount * (1 + rate) ^ number of periods
Assume even a change of 2% in the growth rate. In 30 years, this rate would have increased the economy by:
= 1 * ( 1 + 2%)³⁰
= 1.81
Which is a rate of:
= 1.81 - 1
= 81%
What started off as only 2% became 81% in 30 years. This is what compounding does.
Answer:
The correct answer is Option A.
Explanation:
The concept of double entry says for every debit entry, there must be a corresponding credit entry. This is necessary for the journal entries to balance, that is, the total of the debit balance must always equal the credit balance.
The building purchased by BOC is an asset. So there is need to debit that account to recognize the asset. Since there was an outflow of cash to the tune of $50,000, we need to credit cash while the remaining balance being financed by mortgage will be credited to recognize the liability.
Answer:
$522
Explanation:
Calculation to determine How much did he pay if payment was made during the discount period
Amount paid =$550-(5%*$550)
Amount paid=$550-$28
Amount paid=$522
Therefore the amount he will he pay if payment was made during the discount period is $522
