A budget can help teens start to discern between genuine needs and wants and will show them where their money is going each month. A good budget will provide for both needs and at least some wants and should be flexible and relatively easy to use and understand.
Answer:
Year end journal entries are given below in explanation
Explanation:
a. Company provided service to customer which means that company has earned revenue
Account Dr Cr
Accounts Receivable 2200
Sales/Revenue 2200
b. Wages expense have incurred but are not paid yet. Thus, its Liability should be booked.
Wages Expense 1200
Wages payable / Liability 1200
c. The company has taken loan from the bank. Interest due on the loan is 416 but are not paid yet.
Interest Expense 416
interest Payable 416
d. The company had contract for lawn service. To book the expense of lawn service
Lawn Service Expense 520
Lawn Service Payable 520
e. The company has also made some investment. $ 220 is earned on that investment. to book the non operating income
Interest revenue receivable 220
Interest revenue - Non operating income 220
f. Salaries of Supervisor is due on 31 st December but are not paid yet.
Salaries Expense 920
Salaries payable 920
Answer:
yes, what else do you want to tell me
Based on the type of cost that the original cost of the machine is, we can say that it represents a sunk cost.
<h3>What is a sunk cost?</h3>
This is a cost that a business has already incurred as regards a certain investment or asset. This cost cannot be recovered and so should not have any weight on future decisions made.
The original cost of the existing machine of $10,000, is a sunk cost because the company has already incurred it and cannot recover it.
Find out more on sunk costs at brainly.com/question/24976252.
