People who make goods and services are called PRODUCERS.
They are called producers because they produce the goods and services needed by the consumers.
Consumers are people who requires the goods and services provided by the producers.
Andrew writes a check for $1,299 which is the medium of exchange.
What is the way of transaction ?
- A sale is a completed agreement between a buyer and a dealer to change goods, services, or fiscal means in return for plutocrats.
- The term is also generally used in commercial accounts. As a business secretary, this plain description can get tricky.
- A sale may be recorded by a company before or later depending on whether it uses an addendum account or cash account.
Here,
Andrew can easily determine that the price of the computer is more than the price of the vacation = Unit of Account
Andrew has $1,574 in his checking account
= Store of value
Andrew writes a check for $1,299
= Medium of exchange
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Answer:
Debit Bad Debts Expense $12,475
Credit Allowance for Doubtful Accounts $12,475
Explanation:
Calculation for estimated bad debts expense:
Explanation
Accounts receivable * Sales uncollectible
$445,000×0.025
=11,125
Hence:
11,125 +Allowance for Doubtful Accounts 1,350
=$12,475
Therefore the estimated bad debt will be:
Debit Bad Debts Expense $12,475
Credit Allowance for Doubtful Accounts $12,475
The dividend will be $4.015
<u>Explanation:</u>
The given data is: Initial dividend given is = $3 and growth rate given is = 6%
the following formula is used in order to calculate the dividend
dividend at time 5 = d0 multiply with (1+growth rate) power 5
= $3.00 multiply with (1+0.06) power 5
=>$3.00 multiply (1.33822558)
=>$4.015 (rounded to two decimals).
<u>Note :</u> The dividend is the amount that is paid by the company to its shareholders. The amount of dividend may vary from year to year depending upon the profitability level of the company that it earned during the year.
Accounting is the course which will be most helpful.
Accounting is one of the courses that are offered in high school along side others courses such as Business management, Consumer education, Entrepreneurial skills and so on in the "business section".
- Finance means the act of managing of money by individuals, governments or large companies. individual with this skills are highly sought for to help the organization manage its resources effectively.
In conclusion, Accounting teaches a wide range of money management skills, how to record transaction for future purpose, so, the most helpful course for a person wanting a career in finance is "Accounting"
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