It is the medium of exchange. It serves as the mediator instrument used to encourage the deal, buy or exchange of products between parties. For an instrument to work as a medium of trade, it must speak to a standard of significant worth acknowledged by all gatherings. In present-day economies, the medium of trade is money.
Answer: B
Before any actual work is begun you need to have a formal application so there’s something to be worked with.
Answer:
$28,300
Explanation:
Calculation to determine the net debt
Using this formula
Net debt=(Short-term interest bearing debt +
Long-term interest bearing debt+Non-interest bearing liabilities)-Cash and equivalents
Let plug in the formula
Net debt=($ 3,000 +$25,000+$ 1,500)-$ 1,200
Net debt=$29,500-$1,200
Net debt=$28,300
Therefore Net debt is $28,300
Answer:
Date Accounts Titles Debit Credit
Dec-31 Salaries expense $2,300
Salaries payable $2,300
Dec-31 Depreciation expense $200
(Furniture
)
Accumulated depreciation $200
(Furniture)
Dec-31 Insurance expense $450
Prepaid Insurance $450
Dec-31 Supplies expense $80
Supplies $80
Answer: $5,000
Explanation:
Per the requirements of qualified plans that permit loans, the maximum amount that an individual can withdraw is whichever is lesser between $50,000 and 50% of their Vested Account Balance.
Vance in this scenario has a vested account balance of $40,000.
50% of that would be $20,000.
That means that he can be loaned $20,000. However, he already has an outstanding loan balance that must be accounted for of 15,000.
Subtracting those figures we have,
= 20,000 - 15,000
= $5,000
The maximum loan that Vance can take from the qualified plan is $5,000
