In almost every developed nation today, it is true that (more than half) are college students.
In the initial year, since I plan to put down $1000 and borrow $4000, then the inflow from the bank will be +$4000.
The timeline from my perspective will be:
Year 0
Cash flow +$4000
Year 1
Cash flow -$1000
Year 2
Cash flow -$1000
Year 3
Cash flow -$1000
Year 4
Cash flow -$1000
The timeline from the bank's perspective will be:
Year 0
Cash flow -$4000
Year 1
Cash flow +$1000
Year 2
Cash flow +$1000
Year 3
Cash flow +$1000
Year 4
Cash flow +$1000
I'm conclusion, it should be noted that the net cash flow for the bank in year 0 will be $-4000. This is the amount that was lent out by the bank.
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Answer:
1. Journal - Closing Entries
Date Account Titles Debit Credit
Sales Revenue $970,000
Income summary $970,000
(Closing of revenue account)
2. Closing the expenses accounts as necessary
Journal - Closing Entries
Date Account Titles Debit Credit
Income summary $888,000
Cost of goods sold $670,000
Salary expenses $150,000
Rent expenses $47,000
Interest expenses $21,000
(Closing of expenses account)
3. Closing net Income
Journal - Closing Entries
Date Account Titles Debit Credit
Income summary $82,000
Retained earning $34,000
Dividends $48,000
(Closing of net income)
The answer is we educators....
Answer:
An Insurance aging report can be printed in <u>landscape</u> format, listing all companies alphabetically
Explanation:
- Print - Select this option to print the Insurance Aging report.
- NOTE: This report should be printed in a landscape format instead of a portrait format.