Answer: Pharaohs journal $
Date
December 31, 2017
StaffBonusexpensesDr384,900
Accruede liability Cr384,900
Narration. Staff bonus due as at date.
February 15,2018
Accrued liability Dr 384, 900
Bank Cr. 384,900
Narration. Payment of staff bonus due
Explanation:
In line with the acrual concept of recognising expenses at the period they are due for payment. The staff bonus will be recognized as an expense to the income statement in 2017 and accrued as liability in the balance sheet if it's not paid.
The payment in 2018 will be a debit to the liability account and credit to the cash or bank account.
The equation of (ending value minus beginning value) and income return totalled, then divided by beginning value is used to find "rate of return".
<h3>What is income returns?</h3>
The portion of a fund's total returns that came through income distributions is known as the income return. For bond funds, income return will frequently be larger than capital return, while for stock funds, it will typically be lower. The fund's total return is calculated by adding the income return and the capital return together.
Rate of Return- The net gain or loss of an investment over a given time period, stated as a percentage of the investment's starting cost, is known as a rate of return (RoR).
Some key features of rate of return are-
- ROI is computed by first dividing the net return by the investment's cost, then multiplying the result by 100. This new number, which represents the net return, is then obtained by subtracting the investment's original value from its final value.
- According to conventional thinking, a fair return on an investment in stocks is one that is at least 7 percent annually. Additionally, this relates to the S&P 500's average annual return when inflation is taken into account.
To know more about internal rate of return, here
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Answer: 1 E, 2 C, 3 A, 4 F, 5 D, 6 B
Explanation:
Purchase requisition - A document used by department managers to inform the purchasing department to place an order with a vendor.
Purchase order - A document used to place an order with a vendor that authorizes the vendor to ship ordered merchandise at the stated price and terms.
Invoice - An itemized statement of goods prepared by the vendor listing the customer's name, items sold, sales prices, and terms of sale.
Receiving report - A document used to notify the appropriate persons that ordered goods have arrived, including a description of the quantities and condition of the goods.
Invoice approval - A checklist of steps necessary for the approval of an invoice for recording and payment; also known as a check authorization.
Voucher - An internal file used to store documents and information to control cash disbursements and to ensure that a transaction is properly authorized and recorded.
<span>The market structure for which economists have the least precise model of price determination is oligopoly.
</span><span><span>Oligopoly is a market structure in which a small number of firms has the large majority of market share.</span></span>
Answer:
1. The elasticity of demand for movie tickets must be INELASTIC.
2. Demand curves become LESS elastic in the long run. This means that the ticket price increase will likely be MORE profitable in the long run.
Explanation:
1. As demand is inelastic, the percentage of price increase will be greater than the decrease in the quantity of tickets demanded, and consequently profit will increase.
2. In the long term, demand becomes inelastic. Consequently, in the long term the percentage of the price increase will continue to be greater than the percentage of decrease in the quantity of tickets demanded.
