401(k) plans<span> which are offered by for-profit companies, 403(b) plans are only available to employees of tax-exempt organizations. These are usually either schools, hospitals or religious groups. The names simply refer to the section of the tax code that outlines these plans. So Hopefully, He may go with 401k</span>
2 advantages a large company would have over a smaller company is, the large company would have more business then the smaller company. Another advantage is maybe their products.
Answer:
The entry to record the payment:
Debit Accounts Payable $10,000
Credit Purchase discount $300
Credit Cash $9,700
Explanation:
Credit terms of 3/10, n/30 means that 3% discount for the payment within 10 days and the full amount to be paid within 30 days.
On January 1, the company purchase inventory:
Debit Inventory $10,000
Credit Accounts Payable $10,000
The company makes the payment on January 10 and takes the appropriate discount:
3% x $10,000 = $300
The entry to record the payment:
Debit Accounts Payable $10,000
Credit Purchase discount $300
Credit Cash $9,700
C serve only as investors, as general partners take on all the risk and operation of the company, while limited partners invest their money, but don’t take part in the decisions of the company.
Hope this helps!
Total period cost for September is 292,000
