Answer:
2021: 675
2022: 2,025
Explanation:
The Company loaned in the month of October 2021, so three months interest income will be recognized calculated as follows:
27,000 * 10% (3/12) = 675
On 1 October 2021, the Company accepted 12 months note so it means that the loan was repaid on 30 September 2022, thus 9 months interest revenue will be recorded:
27,000 * 10% (9/12) = 2,025
C) do not count because the jeans are not a necessity
Answer:
The answer is given below;
Explanation:
Highlight Construction Company
Summarized Income Statement
For the year December 31, 2014
Amount in $
Sales Revenue 117,000
Expenses (86,200)
Net Income before taxes 30,800
Income Tax Expense (30,800*30%) (9,240)
Net Income <u>21,560</u>
As per requirement of the question, only summarized income statement is prepared.
Answer:
the journal entry to record petty cash expenses should be:
Dr Delivery expenses 100
Dr Postage expenses 40
Dr Office supplies expenses 35
Cr Cash 175
Explanation:
When money is missing in a petty cash fund, e.g. imagine it was $2 short, you can use the cash short and over account which is used to balance minor differences.
<u>Explanation:</u>
Stakeholders are the group who show interest in the company and their business or job has impact on the happenings of the company. The stakeholders of the company can be internal stakeholders or external stakeholders. Internal stakeholders have more impact than the external stakeholders.
Internal stakeholders are employees, investors and owners. External stakeholders are outside the company they also get affected due to business decisions. They are suppliers, creditors, and public group.The government, community and trade associations are also included as external stakeholders.