The value of what businesses provide to other businesses is captured in the final products at the end of the production chain. During the production chain the product goes through various steps to reach its end result. Each step in the chain adds more value to the product. Once it reaches the end of the chain the true test is the value it provides to business that ends up using the item. An example of this is a home being built. During each stage of the home building process the home is getting closer to its true test, when the owners move in. From the floor being poured to the walls going up, each step makes the house closer to becoming someones home.
Answer:
Journal Entries
Date Account Titles and Explanation Debit Credit
Oct. 1 Cash $34,040
Common Stock $34,040
(To record the cash is invested in the business)
Oct. 2 No Journal Entry $0
Oct. 3 Office Furniture $4,110
Accounts Payable $4,110
(To record the purchase of office furniture on account)
Oct. 6 Accounts Receivable $10,780
Service Revenue $10,780
(To record the services provided but cash is not yet collected)
Oct. 10 Cash $165
Service Revenue $165
(To record the services provided by cash)
Oct. 27 Accounts Payable $690
Cash $690
(To record the payment made on accounts payable
relating to office furniture)
Oct. 30 Salaries Expense $2,740
Cash $2,740
(To record the payment of salaries to the assistant)
Disability income insurance will provide income to a disabled or ill person with a waiting period before income is received. Commonly, when a person applies for disability income insurance and is taking out money from the government for disability there is a period of waiting. During this period they review all information given and decides whether or not the person applying actually qualifies for the funds they are wanting to receive. Most states have a set time frame they have to wait and also a set time frame of how long people can receive funds for.
Answer:
Luke's net tax due or refund is $2,900
Explanation:
In order to calculate Luke's net tax due or refund we would have to make the following calculation:
Luke's net tax due or refund=Luke's non refundable credit+income taxes withheld from his salary
Luke's non refundable credit=non refundable personal tax credit-gross tax liability
Luke's non refundable credit=$2,400-$1,800
Luke's non refundable credit=$600
Therefore, Luke's net tax due or refund=$600+$2,300
Luke's net tax due or refund=$2,900
Luke's net tax due or refund is $2,900
Answer:
The correct answer is entrepreneurs are born, not made.
Explanation:
Entrepreneurs, social psychologists and economic theorists have speculated on whether entrepreneurs are born or made, in other words, if you are predisposed to become an entrepreneur because of your genetic constitution, or if that provision comes from your environment, conditioning or other external factor.
For most entrepreneurs, it is comforting to think that business men and women are made, that even if they lack the "right" DNA, practice, experience and sufficient conditioning to be a success.
