Budgeting period is an allocation of time to plan for your money and how or where it's gonna be used. There are two types of budgeting period: Short term and Long term.
Short-term Budgeting period
This budgeting period covers from 6 months to a year, depending on the nature of the business. For seasonal businesses, it should cover at least one seasonal cycle. For wholesale and retail businesses, 6 month is enough.
Long-term Budgeting Period
This covers more than a year of operating. It focuses on the futuristic performance of a business or company. Factors used are market trends, economic growth, inflation rates and industrial production. These factors help foresee profit or problems that may arise. Consequently, this will also help you in your present decisions.
I'm not sure if there's ONE correct answer for this question.
the family should call 911 immediately, or another emergency phone hotline if needed. an allergic reaction is most likely happening, which is understandable because some allergies can actually be passed genetically.
let me know if this helps.
To add to my last answer: A Pure Market System is a more concise answer.
Answer:
Explanation:
note to be paid with three equal payments @ 6% interest at the end of each year.
Amortization Schedule
Year Opening Interest 6% 3 equal Paments Repay Closing
1 8000000 480000 2666667 3146667 5333333
2 5333333 320000 2666667 2986667 2666667
3 2666667 160000 2666667 2826667 0
Journal Entries
January 1, 2018
Loan Receivable 8000000
Bank 8000000
Amount given as Loan
December 31, 2018
Cash 3146667
Interest Income 480000
Loan Receivable 2666667
To record the repayment and interest income
December 31, 2020
Cash 2826667
Interest Income 160000
Loan Receivable 2666667
To record the repayment and interest income
