Answer:
B. Annuity due
Explanation:
Annuity Due
This is the repetition of money paid that is made at the beginning of each defined period. Period could be monthly, quarterly, yearly and so on. A common example used in explaining this is Rent paid at the beginning of each month. Annuity due have all payments in the same amount, like in this case, Janis is going to be paid $500 a month for 48 months. Meaning the amount tonbe paid doesnt changes. Also another characteristic of annuity payments is that all payments are paid at thesame time interval. Again, here, Janis is being paid every month at the same time interval NOT, today monthly and the next payment weekly.
It is a series of payments that is made or received over a predetermined period of time.
Answer:
In Barton and Barton Company's general journal, entry required include:
Debit Retained Earnings Account with $8.2 million
Credit Opening Inventory with $8.2 million
Being reversal of overstated inventory due to change from FIFO to Average cost method.
Explanation:
The debit entry to the Retained Earnings Account will reduce the balance by $8.2 million. The effect of overstating the closing inventory is overstatement of the net income because the cost of sales was understated as a result of the inventory overstatement.
The credit entry to the Opening Inventory reduces the balance to the new balance based on the average cost method of $23.8 million.
The FIFO cost method or First-In, First-Out method is an inventory costing method that assumes that goods that were bought first were the ones to be sold first. The inventory cost is therefore valued with the most recent quantity and cost price.
On the other hand, the Average Cost Method, also called the Weighted Average Cost Method, calculates the inventory cost by adding all the period's inventory and dividing it by the quantity for the period. This gives an average cost which is in turn used to multiply the quantity of inventory at the end of the period to obtain the inventory cost.
Both methods are estimates that produce different results and affect the reported net income differently. There is always the need for consistency in choosing the method to apply so that reported net income is not unduly distorted.
Answer:
The amount of accounts receivable which is to be reported on the company's budgeted balance sheet for August is $150,000
Explanation:
For computing the account receivable balance for the august month, the following adjustment is required which is shown below:
= August sales × credit sale percentage
where,
August sale is $200,000
And, the credit sale percentage is 75% because 25% is cash sale and the remaining 75% is a credit sale
So,
the accounts receivable would be equals to
= $200,000 × 0.75
= $150,000
Hence, the amount of accounts receivable which is to be reported on the company's budgeted balance sheet for August is $150,000
One should write a functional (skills) resume when you are making a career change.
<h3>What is a resume?</h3>
A resume is a document that outline information about a job applicant including his or professional experience.
The document also contains applicant work skills and background details.
Hence, one should write a functional (skills) resume when you are making a career change.
Learn more about resume here : brainly.com/question/14178136
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