This is true. You can use the acronym FANBOYS to remember <span />
B. To see where most of your money is going
I'm taking the test right now on apex.
Answer:
June 1 2020
No entry
September 1, 2020
Dr Cash $1,980
Dr Accounts receivable $300
Cr Sales revenue $1,730
Cr Unearned sales revenue $550
September 1, 2020
Dr Cost of goods sold $1,140
Cr Inventory $1,140
October 15 2020
Dr Cash $300
Dr Unearned service revenue $550
Cr Accounts receivable $300
Cr Service Revenue $550
Explanation:
Preparation of the journal entries for Geraths in 2020
June 1 2020
No entry
September 1, 2020
Dr Cash $1,980
Dr Accounts receivable $300
($1,730+$550+$1,980)
Cr Sales revenue $1,730
($1,980/$2,610*$2,280)
($1,980+$630=$2,610)
Cr Unearned sales revenue $550 ($630/$2,610*$2,280)
September 1, 2020
Dr Cost of goods sold $1,140
Cr Inventory $1,140
October 15 2020
Dr Cash $300
Dr Unearned service revenue $550
Cr Accounts receivable $300
Cr Service Revenue $550
Answer:
0.73 or 73%
Explanation:
Return on investment (ROI) shows the benefit an investor receives in relation to their invested amount. It is expressed as a ratio or a percentage of the net income against the investment's cost.
It is calculated using the formula below.
ROI = returns( profits)/ cost of investments.
For Lena, the cost of investment is $52,000( cost of the degree). The returns for one are the earnings in the year, which is $38,000.
ROI= $38,000/ $52,000
ROI =0.73 or 73%
A few of the following can be considered major factors in failure of small businesses:
-Lack of financial planning: when a business is born it needs to critically plan out the first few years of running. Small business often fail to plan out for the future and have less working capital at hand.
-Lack of expertise: small business cannot afford specialist managers and this may be a reason for failure
-no investment in marketing and research can also be a reason.
