Answer:
Debit Accounts Receivable for $104,700; and Credit Sales Revenue for $104,700.
Debit Cash for $85,400; and Credit Accounts Receivable for $85,400.
Explanation:
The (summary) journal entries to record the items noted will look as follows:
<u>Particulars Debit ($) Credit ($) </u>
Accounts Receivable 104,700
Sales Revenue 104,700
<u><em>(To record net sales (all on account) for the year.) </em></u>
Cash 85,400
Accounts Receivable 85,400
<u>(Collections on accounts receivable during the year.) </u>
Answer: 97.99
Explanation:
The one-year forward rate that an investor would be indifferent between the U.S. and Japanese investments will be:
= Spot rate × (1 + Japanese rate / 1 + U.S rate)
= 101 × (1 + 1% / 1 + 4.1%)
= 101 × [(1 + 0.01) / (1 + 0.041)]
= 101 × (1.01/1.041)
= 101 × 0.9702209
= 97.99
Answer:
Money management skills are the abilities to control your spending and money and be able to prepare for the future.
Explanation:
by preparing for the future, I mean saving up your money while still using enough so you have food and clothes and other necessities. and by being able to control it, I mean not spending your money on useless things like a box chicken or fancy luxurious scissors.
Answer:
The value of this employee benefit today is closest to $17,758.66
Explanation:
Crane Flight services per week contribution C = $25
Discount rate per r=4.75%
Discount rate per week r= 4.75% / 52 =0.0913%
Total Payment N = $52 * 22 years = $1,144
Current value of employee benefit P = C*(1+r)*(1-(1+r)^-N)/r
P=25*(1+0.0913%)*(1-(1+0.0913%)^-1144)/0.0913%
P = 25 * (1.000913) * (1 - (1.000913)^-1144)/0.000913
P = 25 * (1.000913) * 1 - 0.3520453/0.000913
P = 25 * (1.000913) * 709.6985
P = 17758.661368
P = $17,758.66
Answer: In addition to paying the salaries of government workers, your tax dollars also help to support common resources, such as police and firefighters. Taxes fund public libraries and parks. Taxes are also used to fund many types of government programs that help the poor and less fortunate, as well as many schools! Taxes are important to federal, state, and local governments. They are the primary source of revenue for the corresponding level of government and fund the activities of the governmental entity.
Explanation:
