Answer: Budgeting helps to plan, coordinate , delegate responsibility and enhancing clarity in pursuit of an organisation.
Explanation: Every budgets is principally prepared to achieve a set target but there some limitations which makes it difficult for some companies to prepare and follow through with a budgeted plan action. Some of these limitations at any given point in time affect the activities of the organisation. It may be traced to Production capacity, shortage of labour, materials, space, Finance and customer demand. This limitation can at any point in time affect the overall plan of the organisation making it difficult to achieve their set target .
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
Percentage of savings off=45%
Explanation:
Savings=discount×Original item price
First save=(25/100)×179.99=$44.9975
Additional save=(20/100)×179.99=$35.998
Total savings=(44.9975+35.998)=$80.9955
Percentage of savings=(Total saving/Original price)×100
(80.9955/179.99)×100=45%
Answer:
Debit Accounts Receivable, $225; credit Fees Earned, $225
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