Answer and Explanation:
Given that
The Sale is made for $900
Terms 2/10, n/30 that means if the payment is made within 10 days than 2% discount is eligible and the total credit period allowed is 30 days
Now the journal entry to record the receipts of a payment within discount period is
Cash Dr $882
Sales discount $18
To Account receivable $900
(Being the cash received)
Answer:
The manager for what ever business there in should reach sufficient standards for the clients and to make clients feel good and there actually getting something good out of He/Hers Company.
Explanation:
Answer:
The correct answer is letter "B": cash budget.
Explanation:
General-purpose financial statements are those reports that can be issued during a period to provide investors and managers relevant information to make decisions on the company's operations. Those reports are the <em>balance sheet, income statement, owner's equity statement, retained earnings, </em>and <em>the cash flow statement.
</em>
As its name says, <em>the cash budget is an estimate of the inflows and outflows of a company for a given period. This budget is not a financial statement.</em>
Answer:
Paying salaries to employees is a cash out flow and an operating activity
Receiving cash for services it will perform in the future is a cash inflow and an operating activity
Pays back principal on a bank loan evidenced by a promissory note is a cash outflow and a financing activity
Sells equipment previously used in business for cash is a cash inflow and an investing activity
Cash purchase of equipment to be used in business is a cash outflow and an investing activity
Payment of cash dividend to the stockholders in a cash outflow and a financing activity
Explanation:
Answer:
Maximum size of home loan than can afford is $209,471
Explanation:
Rate of interest on borrowing = 4%
Per month rate (r) = 4% / 12 = 0.33%
n = 30*12 = 360 months
Maximum size of home loan than can afford =
= $1000 * PVAF (0.33% , 360)
= $1000 * 209.47135
= $209471.35
= $209,471
Maximum size of home loan than can afford = $209471
Note: Monthly payment * PVAF( r, n)
PVAF at (0.33% , 360)
PVAF = 209.47135