Answer:
A relevant account from the chart of accounts
Explanation:
QuickBooks is an accounting software that is designed to assist users with little accounting experience manage their financial records.
Transactions in QuickBooks are classed as products and services. These are mapped to relevant accounts in the chart of accounts.
For example mapping can be done to asset or liability accounts.
When mapping there are three classes products and services can be mapped to:
-Inventory
-Non inventory
-Services
When setting up new product and service the appropriate class is chosen and relevant account is assigned to the product or service.
For example sales tax is mapped by default to sales tax payable account.
Answer:
The amount of rent expense that will be reported on the Year 1 income statement is $1,800
.
The cash outflow for rent that would be reported on the Year 1 statement of cash flows is $5,400.
Explanation:
Though the amount paid was paid on October 1, Year 1 it will only be expensed from October to December for year 1.
The duration of the payment is 12 months, hence
Monthly amortization = $7,200/12 = $600
Rent expense for year 1 = $600 × 3 = $1,800
The ending balance in the prepaid rent account will be
= $7,200 - $1,800
= $5,400
This will be the cash outflow for rent that would be reported on the Year 1 statement of cash flows.
Because sometimes the check written after the statement closing dates.
Lets say a company do a closing statement on December 26.
A check written between that date until the end of period ( December 26 - December 31), that transaction simply won't appear on the book because the company already closed the statement on December 26
Hey There!:
Sample Mean = 4.4823
SD = 0.1859
Sample Size (n) = 7
Standard Error (SE) = SD/root(n) = 0.0703
alpha (a) = 1-0.99 = 0.01
t(a/2, n-1 ) = 3.7074
Margin of Error (ME) = t(a/2,n-1)x SE = 0.2606
99% confidence interval is given by:
Sample Mean +/- (Margin of Error)
4.4823 +/- 0.2606 = (4.222 , 4.743)
Hope this helps!
Answer:
Gravity models are used to find location that minimizes the cost of transporting raw material from the supplier and finished goods to the markets served. This model also assumes that the transportation cost grows linearly with the quantity shipped.
Explanation:
hope it will helpful
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