Answer:
Hello There!!
Explanation:
It is a type of loan that's used to finance property.It is an agrement between the person that borrows it and the person that lends it
hope this helps,have a great day!!
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Prices tend to drop when supply increase. More rare or hard to get something is (with high demand) then the pricier it is.
The steps involved in closing the books are as follows:
Closing the Revenues
Closing the Expenses
Closing the net income
Closing the dividend and withdrawals
The most important output of the accounting cycle is the financial statement like balance sheet and Income statement. If the books were never closed, then the business would never be able to know the financial position for a particular accounting period.
Answer:
The Money Market.
Explanation:
The Financial markets can be broadly classified into two categories: Capital Market and Money Market. This classification is based on the maturity period of Financial instruments that trade in these markets. Lets study these two types of markets in detail:
<u>Money Market</u>
It is a market in which securities with a maturity of less than one year are traded. This is highly liquid market since the investors are repaid with the invested amount within one year of time. Due to a short duration, the instruments traded in this market are exposed to lower interest rate risk. A popular example of money market instrument can be Treasury Bills.
<u>Capital Market</u>
The securities that are traded in capital market are long-term and have a maturity of more than one year. The securities of capital market offer beefy returns to the investors due to higher duration and interest rate risks. If the security is of equity nature, then the market is termed as stock market. And if the traded security is bond, then we refer to it as a bond market. Examples of capital market instruments are shares and bonds.
Answer:
: $4,610
Explanation:
The allowance for uncollectible accounts should be 2% of accounts receivable. So first we wil find out the 2% of $268,000.
($268,000 x 2%) = $5,360
Then we will subtract the $750 allowance for uncollectible accounts before any adjustments.
$5,360 - $750 = $4,610
The amount of the adjusting entry for uncollectible accounts would be: $4,610.
