Answer:
Debit cards are assigned to checking accounts, and since they have become more popular, the amount of currency in the economy has decreased while the amount of checking account deposits has increased.
Explanation:
Actual currency (bills and coins) and checking accounts are part of the M1 category of the money supply, since both are considered completely liquid.
Answer:
a. Contribution Margin = $21,200
Explanation:
Contribution margin = Sales Value - Variable Expenses
Here it is provided that
Sales for Jones = $40,000
Less: Variable Expenses
Cost of goods sols = ($4,800)
Variable Promotion costs = ($8,000)
Variable Sales Commission = ($6,000)
Net Variable Expenses = ($18,800)
Contribution Margin = $40,000 - $18,800 = $21,200
<u>Answer:</u>$50000
<u>Explanation:</u>
Recovery period of the asset means that the company starts to realize its depreciation for the assets. In the recovery period the taxpayer will start to write off the asset with the depreciation value calculated using the useful years of the asset.
Half year convention means that the assets have been used for the first half of the year and the rest of the depreciation amount will be deductible at the end of the year. So the entire useful value of the asset is taken for the amount of cost of recovery in the year 2019.
Human risks are anything a person could do to make you lose money or do poorly like cancelling appointments last minute and leaving negative online reviews.
Natural risks are forces of nature that could cause problems such as if a storm floods the doggy day care.
Economic risks are changes in the economy, so if there is a recession more people will stop wanting to pay for doggy daycare to save their money.
Answer and Explanation:
The journal entries required to adjust the balance of cash as follows:
1. Cash Dr $1,128
To Notes receivable $1,100
To Interest revenue $28
(Being the cash is recorded)
Here cash is debited as it increased the assets and credited the notes receivable and interest revenue as it decreased the assets and revenue
2. Service expense Dr $78
Account receivable Dr $280
To cash $358
(being the cash paid is recorded)
here service expense and account receivable is debited as it increased the expenses and assets and credited the cash as it decreased the assets
