Answer:
Accounts receivable - Audrey's Antiques $3036 Dr
Service Revenue $3036 Cr
Accounts Receivable - Michael's Motors $680
Service Revenue $680
Explanation:
Both the services are provided on account which means that the services are provided on credit and cash against these services are yet to be received. Thus we debit the accounts payable that will be creadted because of these services and credit the service revenue.
The company gives 8% trade discount for sevices above $1000 and as Audrey's Antiques receives services of $3300 it will receive the trade discount while Michale's motors will not receive it.
The trade discount is provided on the list price and it is not recorded in the books of accounts. Thus the service provided to Audrey's will be recorded at 3300 - (3300 * 0.08) = $3036.
The fundamental belief behind the market-oriented US economy is that firms are in the best position to know if their actions will cause antitrust laws to be being broken and allow them to work more efficiently. This is further explained below.
<h3>What is an
Economy?</h3>
Generally, the status of a country in terms of commodities and services production and consumption.
In conclusion, Firms are in the best position to ascertain the effect of their actions on the economy.
Read more about Economy
brainly.com/question/2421251
#SPJ1
Answer:
$4,953
Explanation:
Given by the question, we have:
+) Present value of annuity = $17,400
+) Return on the investment = annual interest rate on the loan = 9.4%
The type of this annuity is annuity due.
We have the equation to calculate the present value of annuity due as following:
PV Annuity Due = P × [1 - (1 + r)^(-N)]/r × (1+r)
=> P = PV Annuity Due ÷ {[1 - (1 + r)^(-N)]/r × (1+r)}
In which:
+) P: Annual payment
+) r: annual interest rate = 9.4% = 0.094
+) N: Number of payments = 4 (As the loan is repaid in 4 payments)
+) PV Annuity Due = 17,400
=> P = 17,400 ÷ {[1 - (1 + 0.094)^(-4)]/0.094 × (1+0.094)} ≈ $4,953
Micky can receive a total deduction of an IRA contribution.
Individual Retirement Accounts (IRA) offer tax advantages for retirement financial savings. You may contribute up to the most amount allowed by the internal revenue carrier each year. There are several forms of IRAs available: conventional IRA. Contributions commonly are tax-deductible.
An individual Retirement Account (IRA) is a tax-advantaged funding account designed that will help you keep toward retirement. IRAs are one of the simplest ways to keep and make investments for destiny. It allows your cash to grow on a tax-deferred or tax-free foundation, depending on the kind of account.
Few mutual funds have minimums of $1,000 or more, so you need to account for that as you choose your investments. The IRS doesn't require a minimum quantity to open an IRA. However, a few providers require account minimums, so if you've only been given a small amount to invest, discover a provider with a low or $0 minimum.
Learn more about Individual Retirement Accounts here brainly.com/question/1637877
#SPJ1
The answer to the question is "It would be probably high".
If you get your first credit card while you are a full-time student, what you can expect about the card's ARP (Annual Rate Percentage) on outstanding balances is would be probably high.