a policy intended to make housing affordable for the poor (i.e., rent control) has had the net effect of shifting resources away from the building of: non-luxury apartments for the poor.
Rent controls force landlords to cost apartments below the equilibrium index. an instantaneous effect could be a shortage (excess demand) of apartments, because the number of apartments demanded is bigger than the amount supplied at the regulated price.
Rent control may be a price ceiling imposed by the government. A price ceiling could be a government-imposed limit on how low a price is charged and kept for an honest person. A price ceiling or price cap could be a regulation that creates it illegal to charge a price on top of a specified level.
When a price ceiling is applied to a housing put up for sale is termed a rent ceiling. If the rent ceiling is ready above the equilibrium rent, it's no effect. The market works as if there has been no ceiling. Rent control could be a broad term for legislation that limits rental rates during a city or state.
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an effective income shifting strategy for a corporation and an employee-owner involves generating a tax for one party while generating taxable for the other party.
An effective income shifting strategy for a corporation and an employee-owner involves a tax for one party deduction and for the other party income.
What is effective income ?The link or ratio between the sale price of a property's worth and its effective gross lease payments is known as effective gross income. The estimated income from all real estate businesses after allowing for vacancy and collection losses.
How do you calculate effective gross income?The effective gross revenue of a rental property is computed by adding the prospective gross rental income to other income and removing the vacancy and credit charges. EGI is critical in establishing the value of a rental property as well as the genuine positive cash flow it can provide.
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Keesha's employees rarely, if ever, disagree with her because they worry about her negative reactions and tantrums. this is an example of which of the factors in the corruption cycle?
If Keesha's employees rarely, if ever, disagree with her because they worry about her negative reactions and tantrums. this scenario is an example of compliance factors in the corruption cycle: compliance.
What is compliance?Compliance can be defined as the process in which a person comply or adhere to something or adhere to the rules and regulation that are imposed on them.
The scenario is an example of compliance factors in corruption cycle based on the fact that her employee comply with her behavior by rarely disagreeing with her or having any form of disagreement with her because they worry about the negative reactions and tantrums or anger she may likely display whenever they disagree with her.
Therefore If Keesha's employees rarely, if ever, disagree with her because they worry about her negative reactions and tantrums. this scenario is an example of what is called compliance factors in the corruption cycle: compliance.
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ace co. settled litigation on february 1, year 2, for an event that occurred during year 1. an estimated liability was determined as of december 31, year 1. this estimate was significantly less than the final settlement. the transaction is considered to be material. the financial statements for year-end year 1 have not been issued. how should the settlement be reported in ace's year-end year 1 financial statements?
The settlement be reported in Ace's Year 1 financial statements is in both disclosure and an accrual.
What a Disclosure is?Disclosure is the process of making data or information known to the public. Proper exposure by pots is the act of making its guests, investors, and judges apprehensive of material information.What happens in Disclosure?Disclosure is the delivery or product of documents by a party to a case to the other parties in the case( rule 210). Disclosure is intended to help surprise at the trial, inform the parties of the issues to be disputed at the trial, and to help the parties to resolve controversies of fact.Learn more about Disclosure here:
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debt analysis springfield bank is evaluating creek enterprises, which has requested a $4,000,000 loan, to assess the firm’s financial leverage and financial risk. on the basis of the debt ratios for creek, along with the industry average and creek’s recent financial statements (following), evaluate and recommend appropriate action on the loan request.
Through data analysis,The appropriate action on the loan request on the debt ratios for the creek is 0.730
Loans are one of the most popular types of unsecured loans that offer instant liquidity. However, because personal loans are unsecured loans, the interest rates are higher than secured loans.
Debt ratio Creek Enterprises Ind.av.
Total Liabilities/Total assets (16500000+20000000)/50000000=
0.73 0.51
Times interest earned Ratio
Operating profit /Interest expense 3000000/1000000=
3 7.3
Fixed payment coverage ratio
Operating profit before lease & interest expenses/(Lease+Interest) expenses (3000000-200000)/(1000000+200000)=
2.33 1.85
The debt level is too high, going by the industry average.
Naturally, the no.of times debt-interest expenses are covered by the operating income is less than almost half of the industry figure, for the metric.
Other fixed payments seem to be high for other industry peers as seen by the difference (7.3& 1.85)between fixed PMT. Coverage & interset coverage
whereas,
They are not much for Creek. Also, the lease payments will be over by another couple of years.
That said, going by the debt & interest coverage ratios of the company &its peers, the loan request cannot be conceded--as already the company has a high level of liabilities, including fixed commitments like finance leases.
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Which demographic groups does Women in Motion serve?
Demographic groups do Women in Motion serve, Akela Peoples is an award-winning teacher and entrepreneur who has helped over 20,000 young women create career plans.
Demographic evaluation is the take a look at a populace primarily based totally on elements including age, race, and gender. Demographic information refers to statistically expressed socioeconomic records including employment, education, income, marriage rates, start rates and loss of life rates.
Examples of diagnosis. It is included. Demographic studies consist of 5 simple themes. Distribution over a geographical area. its composition (including age, gender, race, and different characteristics); modifications in populace size, distribution, and composition over time; Determinants and outcomes of populace growth.
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What Imagine that you get to interview a quality control manager who is in charge of examining a product, food, drink, or service that you know really well. Explain what details this person should look for when performing a quality control check. Be as specific as you can.
1 paragraph pleasee
This person should look for high-quality product delivery and continuous quality improvement through the use of external processes when performing a quality control check.
What is mean by quality control?The procedure a business uses to ensure that its products uphold its standards is called quality control. To guarantee that everyone on a production team has consistent, reliable information about a product's quality, a quality control function requires a great attention to detail and excellent communication skills. If you have experience with particular products or industries and can maintain your focus for extended periods of time, you could appreciate working in quality control.The reviewing phase and the testing phase are the two phases of quality control. The reviewing phase involves making a plan for testing and reviewing the product's requirements, design, and code. Units, systems, and their integration, as well as product functionality and user acceptance, are first tested during the testing phase.Learn more about quality control here:
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During the annual planning meeting with her executive leadership team, mieko, president of a rapidly growing company, expressed her vision for expanding company operations across the globe. Mieko’s long-term vision is an example of e-commerce.
During the annual planning meeting with her executive leadership team, the president of a rapidly growing company Mieko expressed her vision of expanding company operations across the globe. The long-term vision of Mieko's is an example of e-commerce, which is a false statement.
The phrase "e-commerce," sometimes known as "electronic commerce" or "internet commerce," refers to the transfer of funds and data for the purpose of conducting business over the internet.
The Mieko vision of expanding company operations across the globe is an example of global expansion. A growth strategy known as "global expansion" entails bringing operations, goods, and services from a domestic market to target markets abroad.
During the annual planning meeting with her executive leadership team, mieko, president of a rapidly growing company, expressed her vision for expanding company operations across the globe. Mieko’s long-term vision is an example of e-commerce. T/F
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of the department’s methods for determining whether licensees are in compliance, which is used to review a licensee’s progress on taking corrective action based on a deficiency?
Texas House of Representatives of the department’s methods for determining whether licensees are in compliance, which is used to review a licensee’s progress on taking corrective action based on a deficiency.
A lien foreclosure is one of two methods a government agency can use to address delinquent taxes on the property. The other is called selling tax deeds. A statutory lien is first imposed on the taxpayer's assets. The Department of Savings and Mortgages is a Texas agency under the supervision and jurisdiction of the Texas Finance Commission.
Mortgage licensing is overseen by the Nationwide Multistate Licensing System, commonly referred to as NMLS. NMLS will license future her MLOs that meet the requirements.
A Texas Financial Institution shall not permit an employee subject to the registration requirements of this part to act as a mortgage lender for the Covered Financial Institution unless registered with the Registry in accordance with this part.
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What others changes could lisa make possitively affect her budget
Some other changes that Lisa can make to positively affect her budget include:
Setting up budgeting goalsSetting up a monthly review How can be budget better?You did not include the whole question so I will give a general overview.
In order to be able to come up with a good budget, one thing that we need to do is to set up some budgeting goals. We need to figure out why we are budgeting and what we hope to gain for it. Having a reason for budgeting makes it easier to budget because we know what we are working towards.
It is also important to set up a monthly review of our budget to see how well we are doing with it. This monthly review will show if we are sticking to the budget and what we can do to be better at the budgeting process. Budgeting is not easy the first couple of times so we need a review to keep us on track.
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After the adjusting entries have been completed, the adjusted balance in the prepaid rent account represents the _____
The modified balance in the Supplies Expense account, following the adjustments, represents the cost of the supplies: -used during the accounting period.
Because the trial balance—the initial pulling—adjusting entries are required. may be brought on by rendered services that haven't been billed yet.
Supplies become expenses once they have been consumed. If supplies have a large financial worth, they may qualify as current assets. Small businesses might enter the quantity of unspent supplies in the asset account under Supplies on their balance sheet if the cost is significant.
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A key benefit of collaboration is _______________, which focuses on deriving better and more unique ideas for products and services.
A key benefit of collaboration is innovation, which focuses on deriving better and more unique ideas for products and services.
What is collaboration?
Meaning of Collaboration - The best way to define collaboration would be to outline it as the process of two or more people or organizations working together to complete a task or achieve a goal. It is also defined as two or more people working together to achieve shared goals.Consider creating a content marketing strategy. It requires multiple teams to provide input, make requests, or share information. These typically include the content team (team leads, writers, editors), SEO experts, marketing team, product managers, and customer facing teams. Working together allows you to leverage all of these diverse skill sets and knowledge pools to create a comprehensive content strategy that is designed to achieve business goals.To learn more about collaboration, refer to:
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What is the latest stage during which a buyer can terminate the buying decision process?.
Purchase is the latest stage during which a buyer can terminate the buying decision process?
What do you mean by purchase?
A purchase involves the acquisition of goods or services in exchange for payment of some kind. Payment is usually by cash or credit (to be paid later). A purchase may also be part of a barter transaction where various non-monetary assets are exchanged, or it may be in exchange for the assumption of a liability.Purchasing is a key part of the manufacturing process, where raw materials need to be obtained and transformed into finished products.To learn more about purchase, refer to:
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Switzerland is much smaller than the united states but its population density is much greater. Although switzerland’s gdp is much smaller than the united states’ gdp, its _______ is slightly higher.
Switzerland is much smaller than the united states but its population density is much greater. Although Switzerland's GDP is much smaller than the united states' GDP, its GDP per capita is slightly higher.
Gross home Product (GDP) in step with capita shows a country's GDP divided by its total population. The table beneath lists international locations inside the global ranked via GDP at purchasing electricity Parity (PPP) in step with capita, at the side of the Nominal GDP per capita. As a result, higher GDP consistent with capita is often related to high-quality results in a huge range of regions consisting of higher fitness, extra schooling, or even more lifestyle delight. The USA. The united states of the USA is a North American nation that is the arena's most dominant economic and navy strength. Likewise, its cultural imprint spans the world, led in large element by using its popular culture expressed in song, movies and television.
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How does federal financial aid for a trade school compare to federal financial
aid for a college?
A. Federal financial aid applies only to college attendance.
B. Federal financial aid is available for both trade schools and
colleges.
O C. Federal financial aid is merit based only for colleges.
D. Federal financial aid applies only to trade school attendance.
The correct option would be "Federal financial aid is available for both trade schools and colleges."
Federal Student Aid pays for tuition and fees, lodging and board, books and supplies, and transportation for students enrolled in qualified courses at enrolling postsecondary schools (recognized four-year or two-year public or private academic institutions, career schools, or trade schools).The majority of federal assistance is based on need. Grants, loans, and work-study funding are the three most frequent sources of financial assistance. The primary purpose of Government Student Aid is to ensure that all qualified Americans get federal financial help (grants, loans, and work-study programs) for postsecondary education.Federal Student Help (FSA), an office of the United States Department of Education, is the nation's largest supplier of student financial aid.Thus this is the meaning of Federal Student Aid.
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Answer: Federal financial aid is available for both trade schools and colleges.
Explanation: I took the test and got it right
At the end of march, paul’s painting hired five temporary employees to work on a project that began on april 5 and ended on april 28. Paul’s received 100% of the total payment for the project on may 3. In this situation, both ________ accounting and gaap require that paul’s recognize the employees’ total salary expense in ________.
accrual-basis; April.
The country autarka does not allow international trade. In autarka, you can buy a wool suit for 3 ounces of gold. Meanwhile, in neighboring countries, you can buy the same suit for 2 ounces of gold. This suggests that?.
International trade is prohibited in the nation of Autarka. A wool outfit costs 3 ounces of gold in Autarka. The same suit, however, can be purchased in nearby nations for 2 ounces of gold. This implies that Autarka should import gold in trade because it is less expensive in its neighbours.
More about imports:
A component of world commerce, imports denote the movement of tradable goods into an economy. It takes a country's trade balance into consideration, which aids in the analysis of its trading status at a given time. Either a trade surplus or a trade deficit is calculated for this trading condition.
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A security pays $100 monthly for the next 10 years and the appropriate nominal interest rate is 12%. What is the present value of this security?.
In the event where a security pays $100 per month for the following ten years and the acceptable nominal interest rate is 12%.The present value of this security $6,970.052203.
It is necessary to apply the time value of money principle when determining the equal present value of a series of projected cash flows..The applicable interest rate has the biggest impact on the calculations.N = 10 * 12 = 120 payments will be made.
The periodic interest rate is I/Y = 12%/12, which equals 1%.
PV = PMT/r*[1-1/ (1+r) n] where PMT = 100 and FV = 0
PV = 100/0.01 *[1-1/(1+0.01)120]
PV = 10,000 * 0.6970052203
PV = 6,970.052203 PV = $6,970.052203.
As a result, his present value is $6,970.052223.
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problems created by differences between countries' antitrust rules, labor laws, patents, copyrights, taxes, product liability, and child labor laws relate to which forces in the global business environment? multiple choice question.
troubles created with the aid of variations between countries' antitrust regulations forces in the world business environment.
The world business environment can be defined as the environment in exclusive sovereign countries, with elements exogenous to the domestic environment of the organization, influencing choice making on resource use and capabilities.
What is an example of world enterprise environment?An example of a global commercial enterprise environment is the United States. The United States is one of the most powerful countries in the world, with a sturdy and secure financial system that has been developing for decades. This makes it one of the exceptional locations to do business in phrases of steadiness and growth.
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https://brainly.com/question/12249460#SPJ4Ceteris paribus means:______.
a. other things constant.
b. let the buyer beware.
c. making all the necessary changes.
d. for certain parameters.
Ceteris paribus means a. other things constant.
What does ceteris paribus mean?
Ceteris paribus is a Latin expression that normally means "all other things being equal." In economics, it serves as a shorthand expression of the effect one financial variable has on another, delivered all other variables remain the same.
In economics, the belief of ceteris paribus, a Latin phrase indicating "with other things the same" or "other things being equal or held steady," is important in deciding causation.
The assumption in economics is that nobody else changes in a given situation but for the stated change.
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________ is the sequence of value-adding activities performed to develop, produce, market, and service a product.
A Value Chain is the sequence of value-adding activities performed to develop, produce, market, and service a product.
It includes the steps right from the manufacturing of goods or services till reach the customers.
Value Chain: From a product's original design to its delivery to a consumer, there are a number of sequential processes that make up a value chain. The supply chain outlines every stage of production, including the sourcing, manufacturing, and marketing phases, where value is added.
Example: design, production, distribution, and so on.
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Alpine Stables, Inc. , is established in Denver, Colorado, on April 1, 2017, to provide stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April 2017 are provided for your review. A. Received contributions from five investors of $ 60,000 in cash ($ 12,000 the following), a barn valued at \,000 , land valued at $ 90,000 , and supplies valued at $ 12,000. Each investor received 3,000 shares of stock with a par value of $ 0. 01 per share. B. Built a small barn for $ 62,000. The company paid half the amount in cash on April 1,2017 , and signed a three-year note payable for the balance. C. Provided $ 35,260 in animal care services for customers, all on credit. D. Rented stables to customers who cared for their own animals; received cash of $ 13,200. E. Received from a customer \ ,400 to board her horse in May, June, and July (record as unearned revenue). F. Purchased hay and feed supplies on account for $ 3,810 to be used in the summer. G. Paid $ 1,240 in cash for water utilities incurred in the month. H. Paid $ 2,700 on accounts payable for previous purchases. I. Received $ 10,000 from customers on accounts receivable. J. Paid $ 6,000 in wages to employees who worked during the month. K. At the end of the month, purchased a two-year insurance policy for \,600. L. Received an electric utility bill for $ 1,800 for usage in April; the bill will be paid next month. M. Paid $ 100 cash dividend to the following of the five investors at the end of the month. Required:
(d) Write a short memo to the five owners offering your opinion on the results of operations during the first month of business
A short memo to the five owners on the results of operations during the first month of business is as follows:
To: Stockholders (Alpine Stables, Inc.)
From: Analyst
Date: October 31, 2054
Subject: Business Performance in the First Month
The company earned $39,420 in net income before taxes and retained earnings of $38,920 for April 2017.
These show an impressive performance, with more than 98% reinvested from the company's earnings.
Currently, the company has almost $80,000 in working capital, showing its ability to settle its debts without recourse to additional debts. See Notes below.
Regards,
Transaction Analysis:Cash $60,000 Barn $120,000 Land $90,000 Supplies $12,000 Common Stock $150 Additional Paid-in Capital $281,850
Barn $62,000 Cash $31,000 Note Payable $31,000
Accounts Receivable $35,260 Service Revenue $35,260
Cash $13,200 Service Revenue $13,200
Cash $2,400 Unearned Revenue $2,400
Supplies $3,810 Accounts Payable $3,810
Utility Expense $1,240 Cash $1,240
Accounts Payable $2,700 Cash $2,700
Cash $10,000 Accounts Receivable $10,000
Wages Expense $6,000 Cash $6,000
Prepaid Insurance $9,600 Cash $9,600
Utility Expense $1,800 Accounts Payable $1,800
Dividend $500 Cash $500
Trial BalanceAccount Titles Debit Credit
Cash $34,560
Accounts Receivable 25,260
Supplies 15,810
Prepaid Insurance 9,600
Land 90,000
Barns 182,000
Common Stock $150
Additional Paid-in Capital 281,850
Dividend 500
Note Payable 31,000
Accounts Payable 2,910
Unearned Revenue 2,400
Service Revenue 48,460
Utility Expense 3,040
Wages Expense 6,000
Totals $366,770 $366,770
Income StatementService Revenue $48,460
Utility Expense 3,040
Wages Expense 6,000 9,040
Net income $39,420
Dividends (500)
Retained Earnings $38,920
Cash $34,560
Accounts Receivable 25,260
Supplies 15,810
Prepaid Insurance 9,600
Total current assets $85,230
Note Payable $31,000
Accounts Payable 2,910
Unearned Revenue 2,400
Total liabilities $36,310
Working Capital = $79,920 (Current assets - Current liabilities)
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alice is an employee of valley company. alice properly completed her form 1040 tax return and received a refund from the irs of $1,244. alice had income tax withholdings during the year of $4,782. alice's tax liability for the year was:
alice is an employee of valley company. alice properly completed her form 1040 tax return and received a refund from the irs of $1,244. alice had income tax withholdings during the year of $4,782. alice's tax liability for the year was $3538.
Tax liability of alice is calculated as:
Total liability- refund initiated
= 4782-1244
= $3538
Tax liability is the total amount of tax which is owed in a given period by the individuals and the organizations to federal or state as well as local governments. For businesses the tax liabilities are short-term liabilities which are recorded on a balance sheet and paid within a year.
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jones company sold goods for $10,000 on account. the cost of the goods was $7,000. the journal entry to record the cost of the goods sold would be: answer unselected date accounts debit credit sales revenue 7,000 accounts receivable 7,000 unselected date accounts debit credit accounts receivable 7,000 sales revenue 7,000 unselected date accounts debit credit cost of goods sold 7,000 finished goods inventory 7,000 unselected date accounts debit credit finished goods inventory 7,000 cost of goods sold 7,000
Jones Company sold goods for $10,000 on account. The cost of the goods was $7,000. The journal entry to record the sale at retail price would be Accounts Receivable $10,000, Sales Rev $10,000.
What's account?In secretary, an account refers to means, arrears, income, charges, and equity, as represented by individual tally runners, to which changes in value are chronologically recorded with disbenefit and credit entries. These entries, appertained to as bulletins, come part of a book of final entry or tally.What's called retail price?Retail prices are the prices that the guests buying goods at retail outlets pay. Consumers respond to a lower retail price by switching their purchases of the manufacturer's product to the lower- priced retailer.Learn more about retail price here:
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One of the factors contributing to the financial crisis of 2007-2009 was the widespread issuance of subprime mortgages. How does this demonstrate adverse selection?.
Lenders loaned money to a pool of potential homeowners with the highest credit risk and lowest net wealth.
What was the financial crisis of 2008?Early in the twenty-first century, a catastrophic global economic catastrophe known as the Global Financial Crisis (GFC), or the Financial Crisis of 2008, took place. After the Great Depression, it was the worst financial catastrophe ever (1929). A "perfect storm" of predatory lending to low-income homebuyers, excessive risk-taking by international financial institutions, and the fall of the US housing bubble resulted from these factors. The value of mortgage-backed securities (MBS) related to American real estate as well as a massive network of derivatives connected to those MBS fell. The collapse of Lehman Brothers on September 15, 2008, and the ensuing global banking crisis caused enormous harm to financial institutions all around the world.
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Including ______
in a sales strategy is important.
A. customer rewards
B. employee feedback
C. customer support
D. employee support
on december 31, 2019, akron, inc., purchased 5 percent of zip company’s common shares on the open market in exchange for $16,000. on december 31, 2020, akron, inc., acquires an additional 25 percent of zip company’s outstanding common stock for $95,000. during the next two years, the following information is available for zip company: incomedividends declaredcommon stockfair value (12/31)2019 $320,0002020$75,000$7,000380,000202188,00015,000480,000 at december 31, 2020, zip reports a net book value of $290,000. akron attributed any excess of its 30 percent share of zip's fair over book value to its share of zip's franchise agreements. the franchise agreements had a remaining life of 10 years at december 31, 2020. assume akron applies the equity method to its investment in zip account:what amount of equity income should akron report for 2021?on akron's december 31, 2021, balance sheet, what amount is reported for the investment in zip account? assume akron uses fair-value accounting for its investment in zip account:what amount of income from its investment in zip should akron report for 2021?on akron's december 31, 2021, balance sheet, what amount is reported for the investment in zip account?
Investing is an effective way to put your money to work and potentially build wealth. Smart investing may allow your money to outpace inflation and increase in value. The greater growth potential of investing is primarily due to the power of compounding and the risk-return tradeoff.
An investment is an asset or item acquired with the goal of generating income or appreciation. Appreciation refers to an increase in the value of an asset over time. When an individual purchases a good as an investment, the intent is not to consume the good but rather to use it in the future to create wealth.
purchase price of 25%interest
carrying amountof 5%interrest ($380*5%)
The total fair value of As investment of the Z account
Net book value($290.000*30%)
Franchise agreement
The remaining life of the franchise agreement
annual amortization($27000-10mears)
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In the context of the management skills of a successful supervisor, ________ involve the ability to see the relationship of the parts to the whole and to one another
Conceptual skills are the capacity to understand how the various components fit together to form the total.
These competencies reflect a manager's capacity to compile and evaluate data in order to enhance organisational performance. They comprise the capacity to view the business as a complete and comprehend how diverse components match together to function as a cohesive whole.
The process of planning, organising, directing, and controlling staff actions in conjunction with other resources in order to achieve organisational goals is known as management.
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If buyers and sellers both expect future prices to increase, what will happen to the current equilibrium price?.
Expected future price increases of goods by consumers, other things being equal, will increase the current price and increase the current quantity exchanged.
An increase in demand leads to an increase in the equilibrium price, all other things being equal. You will have more to deliver. A decrease in demand leads to a decrease in the equilibrium price. supply will decrease.
Equilibrium price. In the event of a product exchange, the agreed price is known as the equilibrium price or market liquidation price. This price arises from the intersection of supply and demand, as shown in Figure 1. In Figure 1, both buyer and seller are willing to exchange quantity Q at price P.
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consider the following transactions. receive cash from customers, $15,300. pay cash for employee salaries, $9,300. pay cash for rent, $3,300. receive cash from sale of equipment, $8,300. pay cash for utilities, $1,300. receive cash from a bank loan, $4,300. pay cash for advertising, $7,300. purchase supplies on account, $3,300.
A cash t-account posts all cash receipts and payments in the t-accounts. Cash is an asset account and therefore, it has a normal Debit balance. It is the rule that all increases in assets are debited and all decreases in assets are reduced. Therefore, receipts of cash are debited and payments of cash are credited.
Cash
Beg. bal.| 8,300} 9,300} 2)
1) 15,300} 3,300) 3)
4) 8,300} 1,300) 5)
6) 4,300} 7,300} 7)
The end. balance 15,000
1. Received cash from customers is cash receipt and it is debited.
2. Paid cash to employees for salaries is the payment of cash and it is credited.
3. Paid cash for rent is the payment of cash and it is credited.
4. Received cash from the sale of equipment is cash receipt and it is debited.
5. Paid cash for utilities is the payment of cash and it is credited.
6. Received cash from the bank loan is cash receipt and it is debited.
7. Paid cash for advertising is the payment of cash and it is credited.
8. Purchase of supplies on the account does not include any receipt or payment of cash. Therefore, it is not considered in the cash t-account.
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What is the annual fee for this credit card?
Personal finance
Answer:
The annual fee on a credit card is the money you have to pay once in a year to be eligible for using the credit card and avail its benefits and rewards. The annual fee varies from one credit card to another and one cardholder to another.
Explanation:
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