Answer:
Explanation:
2/10 , n/30 is a credit term arrangement where the seller agrees with the buyer that if payments are made within 10 days after purchase , he will enjoy a 2% discount or otherwise pay the full invoice amount at 30 days.
As Jepson paid on the 18th of the same month which is 9 days after purchase , he is entitled to 2% discount on the sales.
<u>Journal Entry</u>
September 8
Credit Sales - $9,600
Debit receivable = $9,600
September 18
Debit Cash - $9,408
Debit sales discount - $ 192
Credit receivable - $9,600
Answer:
The answer is "50%"
Explanation:
Modify the state budget Act of 1974 to boost the FY in 1994 and 1995. It is the maximum federal debt quantity and also to set these other quantities for FY 1996 to 1998. Repudiates in the 1994 and 1995 boundaries on consumption spending.
In the Act of 1993, it modifies the 1986 active losses restrictions so, that it allowed rental damages from other revenues to also be deducted from persons who significantly participated such rental properties.
The person may allocate 50% to his time towards services rendered throughout a tax year from the business.
Exactly, when someone buys an insurance policy that person is making sure that whatever happens to him/her, there is the policy to compensate for something that will be lost. He/she is transferring the risk away and pass it on to the insurance company for safekeeping.
Answer:
$112,807
Explanation:
To calculate the amount of money you borrowed, you have to use the formula to calculate the present value:
PV=FV/(1+r)^n
PV= pressent value
FV= future value= 647,514
r= rate= 6%
n= number of periods of time= 30
PV=647,514/(1+0.06)^30
PV=647,514/(1.06)^30
PV=647,514/5.74
PV=112,807
According to this, you originally borrowed $112,807 for this house.
Answer:
1. Dividends = It will be classified as <u>dividends.</u>
2. Rent Revenue = It will be classified as <u>revenues.</u>
3. Advertising Expense = It will be classified as an<u> expense.</u>
4. Stock holders pay cash into business = It will be classified as <u>Issuance of stock.</u>
<u></u>
Dividends are the share of revenue distributed to stockholders.
Revenues are income earned by the company.
Expense are the outflow of cash or bank payments for running the business.
Issuance of stock refers to collection of money by the company through issuing equity or preference shares.
