Answer:
a. Cash 7,000 Accounts Receivable 7,000
Explanation:
As for the information provided, the payment is received for a sales made in last month, and thus entry at the time of sales shall be:
Accounts Receivables A/c Dr. $7,000
To Sales $7,000
Therefore, when the amount is collected today it will increase cash by debiting cash for the same amount.
Further, balance of accounts receivables will be decreased by crediting such account.
Therefore, correct option is
a. Cash 7,000 Accounts Receivable 7,000
What is the minimum monthly gross income you need to be able to afford the above and still save $100 a month set all to zero except $800-$999 medicare $100, internet $50, telephone $50. food $600.The amount paid to an employee in a month before taxes or other deductions is known as gross monthly income.
The amount is specified in both job offer letters and paychecks. Overtime, bonuses, and commissions are all possible sources of additional gross monthly income. Gross pay is related. Your gross income will also help you budget and figure out how much money you'll have to save for retirement.
To learn more about gross income, click here
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Answer:
Measured over equal time periods.
Explanation:
To get an understanding of the <u>rate</u> of return you first need to lay down a period of time that you can use as a baseline when comparing the return of each investment.
Answer:
Tax shield on depreciation = 600
Explanation:
given data
new piece of equipment = $11,000
salvage value = $1,000
marginal tax rate = 30%
average tax rate = 20%
time period = 5 year
to find out
net effect of annual depreciation on the free cash flow
solution
we know here cost of asset and Salvage value so we get depreciation cost
depreciation cost is = 11000 - 1000 = 10000
and
annual depreciation = 2000
so that Tax shield on depreciation will be
Tax shield on depreciation = 2000 × 30%
Tax shield on depreciation = 600
Answer:
= (0.043 , 0.257)
Explanation:
p = 9/60 = 0.15
Z score for 98% confidence interval = Z0.01 = 2.33
The Confidence interval = (p + Z0.01 * sqrt(p * (1 - p) / n))
= (0.15 + 2.33 * sqrt(0.15 * (1 - 0.15) / 60))
= (0.15 + 0.107)
= (0.043 , 0.257)
