The purpose of the control account is to keep the general ledger nice and clean without any details, yet contain the correct balances to be used in the financial statements.
Answer:
Agents and brokers
Explanation:
Agents and brokers connect buyers and sellers. They are contracted by either sellers or buyers to help them increase sales or find items to buy. Agents and brokers act on behalf of their clients.
Wholesalers and retailers take ownership of the goods they sell. They first buy the goods, which gives them title to the goods before selling to retailers or consumers. Agent and brokers do not buy goods. They look for buyers or sellers for their clients' merchandise.
Answer: $5,000
Explanation:
given data:
tax ratio = 80%
valuation of the house = $250,000
tax rate = $2/$100.
solution:
total annual tax
= $250,000 /$100
= $2500
total tax rate = $2/$100
= $2 * $2,500
= $5,000.
therefore, the total tax due to be payed annually is $5000. This would have not been the case if it has been 80% generally.
Your bank account has 3,500 in it. You add 2,000 to your account because someone gave it to you. That will leave you with 5,500 But, its time for you to make out your monthly bills. So take your 5,500 in your account and subtract 2,500. it will leave you with a cash balance of 3,000.
Answer: excused by Delta's failure to pay.
Explanation:
Delta Construction Corporation hires Eagle Electrical Company, as a subcontractor, to wire its new office building. After the completion of the work, Eagles is owed more than $50000.
Eagle's suspension of work is most likely due to the excuse by Delta's failure to pay. Delta has a right to pay up the money owed to Eagle. Lack of payment can lead to court cases.
