Answer:
Accounts Debit($) Credit($)
Cash 10,750
Common Stock 10,750
<u>Being cash invested for common stock</u>
<u> in the business</u>
Office Supplies 312
Cash 312
<u>Being office supplies purchased with cash</u>
Office Equipment 5,945
Account Payable 5,945
<u>Being office equipment purchased on credit</u>
Cash 1,268
Fees Earned 1,268
<u>Being cash received on service rendered </u>
<u>to a customer</u>
Account Payable 5,945
Cash 5,945
<u>Being settlement of amount owned for </u>
<u>office equipment</u>
Account receivable 2,279
Fees Earned 2,279
<u>Being recognition of amount owned </u>
<u>by customer</u>
Rent Expense 525
Cash 525
<u>Being cash paid for rent</u>
Cash 957
Account Receivable 927
<u>Being cash collected for account receivable</u>
Dividend 900
Cash 900
<u>Being dividend paid with cash</u>
Explanation:
Journal entry entries are used to record accounting effect of business transactions. General journal has two sides that make up debit and credit.
Entries on the debit side are assets or expenses while entries on the credit sides are liabilities, equity and income.
Journal also has a narration for each accounting event to provide information about the entry.
The condition of uninsured people in the United States is very well written in the paragraph where it highlights the fact that uninsured people are less likely to receive care and more likely to have poor health status.
<h3>
What do you mean by medically uninsured?</h3>
In the US, more or less than 50 million do not have health insurance, and an additional 10-20% of people do not have insurance.
Uninsured are not eligible for Medicaid, which is the safety net for most Americans, because they do not qualify for country-based benefits, dependent assistance families, or do not meet other financial or class conditions.
The financial burden of medical care is high on uninsured individuals. It is told that most of them disappear as they do not have enough money to cover the high medical expenses.
Thus, we can say that uninsured people are less likely to receive care and more likely to have poor health status due to lack of finance.
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Answer:
numerous cost pools and numerous cost drivers
Explanation:
Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.
In Financial accounting, one of the most widely used activity-based costing technique is the time-driven activity-based costing.
Time-driven activity-based costing (TDABC) avails business owners the opportunity of reporting their costs on an ongoing basis (real time) which give details about the various cost of doing business, as well as the time spent on them respectively.
Cost pool is simply the amount of money spent by a firm on a particular activity.
Generally, an activity-based costing uses numerous cost pools such as manufacturing cost or customer services and numerous cost drivers such as direct labor hours worked, number of changes used in engineering department, etc.
Answer: e. stimulate primary demand
Explanation: Customers knowing about the benefits of a particular product(s) could drastically increase primary demand, advertising is a means to make customers know of such benefits or passage important information to potential customers about a product.
From the information given, the total interest payable on the mortgage is 290, 659.84 See the calculation and analysis below.
<h3>What is the calculation on the above mortgage scenario?</h3>
We are given
Vacation Home purchase amount = $250,000
Down payment = 20% i.e. $235,000 X 20% = $50,000
Loan Amount = $250,000 - $50,000
Rate = 7%
Period = 22 years = 22 x 12 = 264 monthly installment
Monthly installment = $1,858.56 (See attached spread sheet).
Recall that Total interest paid
= Monthly Installment X N - Principle loan amount
Hence,
1,858.56 x 264 - 200,000
= 490,659.84 - 200,000
Total interest paid = 290, 659.84
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