All categories

3 years ago

Of money's three functions, the one that distinguishes money from other assets is:

Business

1 answer:

NNADVOKAT [17]3 years ago

5 0

Answer:

Medium of Exchange

Explanation:

The main function that distinguishes money from other assets is that everybody accept the money as a medium of exchange, either for our job or to buy things that we are interested.

Always through history the main function of money was to be a medium of exchange because at the begining money didn't exist so you needed to use different things, first salt, then precious metal and today money as we know.

You might be interested in

Commenced business with cash of Rs 20,000 and Goods worth Rs 25,000

nevsk [136]

Explanation:

$\sf \green{25000 - 20000 = \longrightarrow 5000}$

7 0

2 years ago

During its first year of operations, Marigold Corporation had the following transactions pertaining to its common stock. Jan. 10

RideAnS [48]

Answer:

Journalize the transactions is given below

Explanation:

given data

Issued = 66,500 shares

cash = $6 per share

Issued = 41,500 shares

cash = $8 per share

solution

we get here Journalize the transactions

and we assuming that the common stock has a par value of $6 per share

Jan. 10 cash is 66,500 × 6 = 399000

and cash for July 1 is = 41,500 × 8 = 332000

and common stock = 41,500 × 6 = 249000

paid in capital excess = 332000 - 249000 = 83000

Date Account Titles Debit Credit

Jan. 10 cash 399000

common stock 399000

July 1 cash 332000

common stock 249000

paid in capital excess 83000

8 0

3 years ago

Granite Company purchased a machine costing $128,000, terms 3/10, n/30. The machine was shipped FOB shipping point and freight c

Alborosie

Answer:

machine enter the accounting at 138,210 dollars

Explanation:

cost: 128,000 x ( 1 - 3%) = 124,610

shipping cost: 2,800

installation cost: 10,800

total incurred cost

to leave the machine

ready for use: 138,210

The damge are expenses for the period as they arent a necessary cost to utilize the machine.

The company used the discount price over the list price as this is the atual cost incurred

8 0

3 years ago

A portfolio is made up of stocks a, b, c, and d in the proportion of 20%, 30%, 25%, and 25% respectively. the nondiversifiable r

kow [346]

The portfolio beta would simply be the summation of the weighted average of each beta.

Where weighted average of each beta is calculated as:

Stock weighted average = Stock proportion * Individual beta

Therefore,

Stock A beta weighted average = 0.2 * 0.4 = 0.08

Stock B beta weighted average = 0.3 * 1.2 = 0.36

Stock C beta weighted average = 0.25 * 2.5 = 0.625

Stock D beta weighted average = 0.25 * 1.75 = 0.4375

The summation of all betas yield the overall portfolio beta:

Portfolio beta = 0.08 + 0.36 + 0.625 + 0.4375

Portfolio beta = 1.5025 ~ 1.5

4 0

3 years ago

A.Red Company has excess cash to invest and pays Ş 50.000 to buy Ş 50.0000 face value, % 5 five-year B Company’s bonds July 1, 2

likoan [24]

Answer:

Dr Bond investment $50,000

Cr cash $50,000

Dr cash $1,250

Cr interest revenue $1,250

Dr cash $50,000

cr bond investment $50,000

Explanation:

On July 1 2019,Red company would have parted with cash of $50,000 which means that cash account should be credited with $50,000 while bond investment account is debited with same amount

On receipt of first interest payment of $1,250 (5%*$50,000*1/2) cash is debited with $1,250 while interest revenue is credited with the same amount.

Upon receipt of face value at redemption,the journal entry would be opposite of the initial one

4 0

2 years ago