Answer:
Date Particulars Debit Credit
Inventory 40,000
Accounts Payable - Gita 30,000
Bank 10,000
Accounts Receivable - Jeewan 7,000
Sales 7,000
Cost of Goods sold 10,000
Inventory 10,000
Accounts Payable - Gita 15,000
Discount Received 1,000
Cash 14,000
Cash 6,500
Discount Received 500
Accounts Receivable - Jeewan 7,000
Explanation:
It is required to record journal entries of given transactions. It is shown on the question that transactions includes purchase, sales, cash receipts and cash payment. The first transaction describe that business purchase goods from Gita while in second transaction it shows the business sold goods on Credit. The third transaction indicates business paid cash to accounts payable and received discount. The fourth transaction indicates that business received cash from Jeewan a Receivable and received discount from them.
Explanation:
In this case, Joe and his team are likely to face a known risk, which is configured as a risk that the project manager knows exists, exemplified in the question as the team's concern about a very expensive and time-consuming product to produce.
When the risk is known, it is possible for professionals to be able to identify and plan actions in advance to find solutions to this type of risk.
Therefore, it is necessary that in every project there is an area dedicated to risk management, because in every project there are internal and external factors that can influence or change the life cycle of a project. The importance of identifying such factors and their causes is an important step in risk management.
Answer:
$60,410
Explanation:
The computation of the maximum borrowing amount is shown below:
= Home worth for today × borrowing percentage - remaining mortgage balance
= $164,000 × 68% - $51,000
= $111,520 - $51,000
= $60,410
We simply take the difference between the borrowing amount and the remaining mortgage balance in order to find out the maximum borrowing amount
Answer:
$52,000
Explanation:
Given the below data
Cash collected(Sales)
= $72,800
Expenses paid = $21,000
Depreciation expenses = $4,400
Increased in accounts receivable = $4,200
Molly's accrued net income is calculated as;
Sales
$72,800
Less expenses
($21,000)
Cash income
$51,800
Less depreciation
($4,400)
Add accounts receivable
$4,200
Less reduction in prepaid expense
($1,500)
Add reduction in Accrued liabilities
$1,900
Accrual basis net income
$52,000
Note*
We added depreciation because it is an expense hence reduces
Increase in accounts receivable means that some sale have been made but not yet paid for; meaning sales increases and was added.
Reduction in prepaid expenses means that some previously paid expenses were not recognized, hence needed to be recognized now. This will however be added to expenses.
Reduction in accrued liabilities means that expenses incurred in previous period have now been paid off hence must be reduced from cash expenses.
Answer:
Many people like to look at short-term rather than long-term when it comes to financing. Additionally, I would say the lack of financial literacy plays into why people don't choose to invest for the future. It really depends on the socioeconomic status a person is in because some may struggle to make ends meet and can't afford to invest for the future. I would definitely lean towards lack of financial literacy because you'd be surprised how people know more about irrelevant matters than crucial information necessary for decision making.
It would be less hard for me because of the resources around me that help me understand my options and how to manage my money. For people like my parents who lack these resources and knowledge, they are less inclined to invest because they don't know how investments work.
Explanation:
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