Answer:
i wanna say Utopia (number 39 lol)
Explanation:
Just look at him
Answer:
Journal entry to eliminate Sale to Peter Company
Debit : Sales Revenue (Sally Company ) $50,000
Credit : Cost of Sales (Peter Company) $50,000
Explanation:
Peter Company and Sally Company are in a group and Peter Company is the Parent whilst Sally Company is the subsidiary.
For 2019 Eliminate an Intragroup Transactions that occur between Peter Company and Sally Company.
Answer:
$17,600 ; $29,000
Explanation:
The computation of the net income is shown below:
Based on Cash basis
= Received cash - Expenses incurred in cash - prepaid expenses
= $56,000 - $26,900 - $11,500
= $17,600
Based on Accrual basis
= Revenue earned - expenses incurred
= $64,000 - $35,000
= $29,000
The cash expenses incurred is
= $35,000 - $8,100
= $26,900
Answer:
The answer is b
Explanation:
Demand for money is the situation in which money are held in cash form without spending it. The demand for money is a derived demand in the sense that people do not spend all their salaries when they receive it at the end of the month. The portion of their salaries which they do not spent immediately they are received is what we referred to as the demand for money. There are three reasons for holding money which are
Transaction motive :This is the desire to keep money in order to meet the day to day transaction of business such as buying of foodstuff and to meet other family need .
Precautionary motive : This is the desire to keep money in order to meet the unforseen circumstances which are not planned for but which immediately occur, such as sickness, unexpected visitors, breakdown of one's car,
Speculative motive :This is the desire to keep money with the hope of using the money in making quick money. It is a money held with the hope of giving it out in form of loan if the interest is high and at a short period of time.for instance purchasing shares at a lower prices and re-selling it at higher prices .it also includes buying goods at a lower prices and re-selling at a higher prices for example cars.
A number of separate but interdependent budgets that formally lay out the company's sales, production, and financial goals and that culminates in a cash budget, budgeted income statement, and budgeted balance sheet is master budget.
The lower-level budgets, cash flow projections, budgeted financial statements, and financial plans of an organisation are all included in the master budget, which is a thorough financial planning document. It is often created by a company's budget committee under the direction of the budget director.
To know more about Master Budget here
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