<span>Money is anything that people are willing to accept to use for payment for goods and services.The purpose of money can be described as follows:
</span>store of value - money is a way of saving for future purchases
unit of account - money <span>represents the real value (or cost) of any economic item.</span><span>
medium of exchange- </span>Money serves as a medium of exchange.
Answer:
$18,000 F
Explanation:
Actual overhead– Overhead Budgeted=
Overhead Controllable Variance
Actual overhead=$194,000
Overhead Budgeted=$212,000
$194,000–$212,000
=$18,000 F
(40,000 ×$3.80) + $60,000
=$152,000+$60,000
= $212,000
Therefore the manufacturing overhead controllable variance is $18,000 F
The court would rule in sue's favor because courts seldom inquire into the adequacy of consideration.
In contracts, <em>consideration </em>just means the <em>exchange of things of value</em>. There has to be an exchange of things of value for there to be an enforceable contract, and in this case a watch was exchanged for money. It is rare for courts to rule on how much consideration is expected because people are generally free to set their own prices and not sell if the price is too low. That is not for a court to decide (in most cases).
Answer:
Date General Journal Debit Credit
Dec 31 Supplies expenses $2,300
(1,650+3,800-3150)
Supplies $2,300
(To record the supplies used during the period)
Dec 31 Insurance expenses $1,650
Prepaid expenses $1,650
(To record the insurance expired for December)
Dec 31 Salaries expenses $15,300
Salaries payable $15,300
(To record the unpaid salaries)
Dec 31 Deferred revenue $1,150
(3450/3 months)
Rent revenue $1,150
(To record the revenue earned during the period)
