Successful business people never take their eye off the one thing that made them successful in the first place: the primary function of any business is making money. You can't make money without customers or clients (unless you're in the business of robbing banks or bribing politicians).
Answer:
Explanation:
The ending retained earnings = beginning retained earnings + net income - Dividends Paid
Net income = ending retained earnings - beginning retained earnings + Dividends Paid
= $833,000 - $724,000 + $50,000
= $159000.
Therefore, the net income for the year is $159000.
Answer:
False
Explanation:
False because the income, expenses accounts are closed to profit and loss account or income summary.
they are closed by transferring the credit balances in revenue a/c and debit balnace in expenses a/c to clearing account income summary.
The assets and liabilities , common stock, equity account are not closed.
The correct answer is installment credit. The explanation is below.
Installment credit allows you to purchase an item and then pay for it in installments. The reason that this would be the best option for you is that you do not have the money now to make the purchase, but you are able to make smaller monthly payments in order to purchase a computer.
Installment credit is better than revolving credit for new borrowers. Revolving credit would allow you to charge additional purchases on your revolving credit account. The installment plan only finances one item, rather than like a credit card, which is how revolving credit works. You would not choose non-installment credit because this would require you to make this payment all at once in a short period of time. It would not allow you to spread the payments out over time.
