The best way to generate word of mouth advertising is to start first with family and friends. In order for you to spread, you have to begin with the people who are comfortable with you. From there, you can let them spread the word of your product or service and then get referals so more people will know about what you are doing. This is the essence and concept of networking or referal selling. You start of with the people you know and then branch out later on.
False, Nathan should not include this in his budget.
When budgeting, there are several things that one should include such as:
- net income
- debt repayments
- food
- utilities
- insurance
- savings and others
Notice how one should include their net income not their gross income. Net income is what comes after tax and this is the disposable income that a person has and can spend from.
In conclusion, Nathan should only include his net income and as this commission is before taxes, he should not include it.
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Answer:
The book value of the machine at the end of year 2 is $35,000
Explanation:
Straight line method depreciates the asset on its useful life after deducting salvage value from the cost of the asset.
Depreciation per year = ( Cost of Machine - Residual Value ) / Useful life
Depreciation per year = ( $42,000 - $7,000 ) / 10 years
Depreciation per year = $3,500 per year
Book value of machine at the end of year 2 = $42,000 - ( $3,500 x 2 )
Book value of machine at the end of year 2 = $42,000 - $7,000
Book value of machine at the end of year 2 = $35,000
True , True , True , True , True
Answer: See explanation
Explanation:
a. Determine the net income for July using the cash basis of accounting.
Revenue = $3800 + $1100 + $5100 = $10000
Less: Expense = $1200
Net Income = $10000 - $1200 = $8800
b. Determine the net income for July using the accrual basis of accounting.
Revenue = $8600 + $3800 = $12400
Less: Expense = $1300
Net income = $12400 - $1300 = $11100
