Answer:
unit of account, a store of value, and a medium of exchange.
Explanation:
Functions of money
1. Medium of exchange : money can be used to exchange for goods and services. For example, money serves as a medium of exchange when you pay $20 for your favourite jeans
2. Unit of account : money can be used to value goods and services, For example, $20 is the value of your favourite jeans
3. Store of value : money can retain its value over the long term, this it can be used as a store of value
It is true that Costs, also called differential costs, are the additional costs from selecting a certain course of action.
<h3>What is
differential costs?</h3>
Differential cost serves as the difference between the cost of alternative decisions.
Therefore, It is true that Costs, also called differential costs, are the additional costs from selecting a certain course of action and the cost do take place when a business have several similar options,
Learn more about differential costs, at
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Owner's equity at the beginning of the year is
Assets-liabilities
60,000−17,000=43,000
Owner's equity at the end of the year is
Beginning balance+revenues-expenses+additional investment-withdrawal amount
43,000+48,000−36,000
+8,000−9,000
=54,000
Owner's equity changed by
ending balance-beginning balance
54,000−43,000=11,000. ..answer
This is an example of outsourcing, which is when domestic jobs are sent to countries overseas to take advantage of the lower costs.
There is some information missing and I looked up it. If the numbers are not exactly the same, you adjust them to your question.
- The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $166,436.
- The bank collected $26,500 on a $25,000 note, including interest of $1,500.
- A check for $4,000 returned with the statement had been incorrectly recorded by Pala Medical Co. as $400. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account.
-
Bank service charges for June amounted to $55.
Answer:
June 30, 20Y1
Dr Cash 26,500
Cr Notes receivable 25,000
Cr Interest revenue 1,500
Dr Cash 3,600
Cr Accounts receivable 3,600
Dr Bank fees expense 55
Cr Cash 55
If a balance sheet were prepared for Pala Medical Co. on June 30, 20Y1, what amount should be reported as cash?
$166,436 + $26,500 + $3,600 - $55 = $196,481
