Answer:
$50,000
Explanation:
Based on this information, the cash collected from accounts receivable during the period is $50,000. This can be calculated in the following way. Since the Company started the period with a $14,000 debit balance and ended that period with only $8,000 it means that $6,000 was used. Since it was used, it means that it was deducted from the actual collected total. Therefore to find this total we add these $6,000 to the revenue for that period which was $44,000. This totals up to $50,000.
Answer:
d.
Explanation:
Based on the information provided within the question it can be said that the correct steps that are used by the FASB in developing GAAP (generally accepted accounting principles) would be the following: issuing a discussion memorandum, issuing an exposure draft, and issuing a statement of principle. This collection of accounting rules was then adopted by the U.S. Securities and Exchange Commission.
Answer:
D. The present value is the value in the future of a sum of money to be received today and in general is less than the future value
Explanation:
Answer:
Private property and protection of property rights are important because it helps the economy deal with the issue of resource scarcity by ensuring its use is controlled through ownership. The private owner of a resource is expected to act in their self-interest to develop products
