Answer:
The correct answer would be, Credit always goes on the right side.
Explanation:
General Ledger is the set of accounts that businesses keep and maintain to have a record of their financial transactions. These ledger accounts help the accountants to make the financial statements and reports of the organization. Each account contains full detail about the specific account title. For example there would be a general ledger of Cash and this ledger will record all cash related transaction, and in the end will tell you the balance of cash account.
The format to write the ledge is to make a T account, and write Debit on the left side and credit on the right side, and record the transactions.
Answer:
4. general partnership.
Explanation:
A general partnership is when at least two people come together to form a business. These partners would have unlimited liabilities.
A sole proprietorship is A form of business owned by one person who has unlimited liabilities.
A corporation is a a form of business owned by many people known as the shareholders. The shareholders have limited liability.
A limited liability company is owned by at least two partners that have a limited liability.
A limited partnership is a type of partnership with two types of partners- the limited partner and the general partner. The limited partner has limited liability and he is not involved in the daily running of the business while a general partner has unlimited liabilities and she is involved in the daily running of the business.
I hope my answer helps you
<span>The primary purpose of measuring the overall level of prices in the economy is to</span> allow for the comparison of dollar figures from different points in time.
Answer:
the client should wait 10 more years until the contract is worth $180,000 since he will earn a slightly higher interest rate
Explanation:
we must determine the effective interest earned by the client if he accepts the company's proposal:
future value = present value x (1 + r)ⁿ
121,000 = 100,000 x (1 + r)⁵
(1 + r)⁵ = 121,000 / 100,000 = 1.21
⁵√(1 + r)⁵ = ⁵√1.21
1 + r = 1.0389
r = 0.0389 = 3.89%
if the client waits 10 more years until he is able to annuitize the account, he should earn:
180,000 = 100,000 x (1 + r)¹⁵
(1 + r)¹⁵ = 180,000 / 100,000 = 1.80
¹⁵√(1 + r)¹⁵ = ¹⁵√1.80
1 + r = 1.03996
r = 0.03996 = 4%
Answer:
once you adopt an accounting principle or method, continue to follow it consistently in future accounting periods so that the results reported from period to period are comparable.
Explanation:
