1. Be descriptive but not too general or vague. Don't choose a name that is too vague or too meaningful.
2. Use related words in a creative way.
3. Keep it simple.
4. Don't copy your competitors.
5. Avoid using your own name.
6. Choose a name that's scalable.
7. Make sure you have a related domain.
Answer:
Allison should record the purchase at $5880
Explanation:
The net method for recording purchases implies that the purchases is recorded net of the envisaged cash discount on the transaction since the purchaser believes they would settle their account before the cash discount period expires.
Based on the above, the purchases would be recorded as shown below:
cost of purchase=original purchase value*(100%-discount rate)
original purchase price is $6,000
discount rate is 2%
cost of purchase=$6000*(100%-2%)
=$6000*98%
=$5880
Answer:
$14,900
Explanation:
not-for-profit organization will report the investments at the fair value of the investments end of year, in the year-end statement of financial position.
Here,
Investment Fair value (end of year)
Stock A (100 shares) $51
Stock B (200 shares) $49
Stock A = (100 * 51) = $5,100
Stock B = (200 * 49) = $9,800
Total Investment fair value at end of year = $14,900
$14,900 will be the amount reported in stock investments in the year-end statement of financial position.
Answer:
$210,000 is the capital balance of Heflin after acquisition by Mahar
Explanation:
In this question we are asked to calculate the capital balance of Heflin given the data in the above question.
Firstly, we identify the capital account of Heflin before the acquisition. From the question, this is equivalent to a value of $280,000
Now, we calculate the proportionate capital transferred. That is same as 25% of the total; 25/100 * 280,000 = $70,000
The ending capital of Heflin after acquisition would be mathematically = Capital account of Heflin before admission - Ending capital of Heflin after admission= $280,000 - $70,000 = $210,000
Answer and Explanation:
The recording and the computations are as follows
a. The recording of the October revenue transactions are shown below:
DATE INVOICE NO. ACCOUNT DEBITED POST.REF.
ACCOUNT REC. DR. FEES EARNED CR.
Oct 2 321 Pryor Co.
380
Oct 3 322 Armor Co.
540
Oct 14 323 Pryor co.
190
Oct 24 324 Rose co.
790
Oct 31 1900
b) Now the total amount for account receivable and fees earned is
Account receivable = 1900
Fees earned = 1900
c) The October 31 balance is
October 31 balance
= $380 + $190 - $380
= $190
