Answer:
D). <em>Spending more money than you make and acquiring debt</em>
Answer:
$200,000
Explanation:
Here, in the solution the tax effects are ignored as tax rate is not provided.
Since accrual basis is the acceptable basis, we have:
All the revenues and expenses are to be recognised in the period it belongs to, and not when the actual cash payment is received or made.
Total revenue earned in 2015 = $400,000
Total expense (Wages of employees) for 2015 = $200,000
Therefore, net income for 2015 = $400,000 - $200,000 = $200,000
Note: It is of no relevance that when actual cash was realised from debtors and when actual payment was made to employees.
Answer:
The correct option is B,cash at bank.
Explanation:
In creating the fund,cash of $800 needs to made available to the petty cash account.
In order to achieve this,the cash is moved from the cash at bank to petty cash which effectively means that the cash at bank the giving account should be credited while the receiving account,the petty cash account is debited.
Option B is correct since it is the account meant to be credited in order that the petty cash fund account can be created
Answer:
<em>a. Par value is $10, and market price is $19. b. Par value is $5, and market price is $20.</em>
Explanation:
<span>b. interest rates increaseincrease causing planned investment to decreasedecrease, which causes a decreasea decrease in aggregate demand.</span>
