The official record of every company activity is a journal entry. A transaction is, in the broadest sense, any financial activity that has an impact on the firm.
a) Journalize the entry for the purchase of stock as shown below:
Date
Feb. 22
Accounts Titles and Explanation
Investment in shares of E Co. (12,000*$50 +$120)
Debit (S)
$600,120|
To Cash
$600,120
(To record the purchase of 12,000 shares and commission of $120)
b) Journalize the entry for the entry for the receipt of dividends as shown below:
Date
June. 22
Accounts Titles and Explanation
Cash Dr. ($1.40*12,000). $16,800
To Dividend. $16,800
(To record the receipt of dividend)
c) Journalize the entry for the entry for the sale as shown below:
Date
12-Nov
Accounts Titles and Explanation
Cash (4,000*$62 - $100)
$247,900
Profit on sale
$47,860
To Investment in shares of E Co. $200,040
(To record the sale of shares)
Working Note:
Cost of shares sold-
$600,120 12.000 shares -x 4,000 shares
= $200,040.
Profit on sale $247.900-$200,040
= $47,860
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if households saved each additional dollar of income they received, the slope of the consumption function would equal group of answer choices one. a positive number less than one. zero. a positive number greater than one.
if households saved each additional dollar of income they received, the slope of the consumption function would equal positive number less than one.
The consumption function, often known as the Keynesian consumption function, is a mathematical expression expressing the functional connection between total consumption and gross domestic product. The link between consumer spending and the different factors influencing it is known as the consumption function in economics. At the level of the household or family, these variables may include income, interest rates, age, education, and family size. According to Keynesian theory, consumption of goods and services results in a decrease in production if it does not boost the demand for such commodities and services.
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spirit airlines has wall monitors that show media interactions in real time. as a message appears on the screen, the system recognizes whether the comment is positive or negative so the spirit team can respond to customers and ensure that they have a positive experience. this is an example of .
Social media monitoring is the example of given question.
What is social media monitoring?Social media monitoring is discovering out what is being said about a company, person, or product on various internet and social media platforms. How you market your e-commerce company may be impacted by social media listening. Companies that actively watch social media look for words or phrases that are linked to their brands on digital media channels.
Social media monitoring may give you a glimpse into what is said about your company in real time by gathering publicly available information and organizing it in a way that supports your interests. You may improve your e-commerce company's internet presence by using social media monitoring tools.
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suppose that we have a stock that is priced at $157.50 and has a deltaof 2/8. the risk free rate is 1%. the stock up factor is 1.13. and the value of the call option in the up state is $9. what is the price of this call? a. $1.25 b. $3.67 c. $4.23 d. $4.52
Using the Black-Scholes formula, the price of the call option is $4.52.
The Black-Scholes model is a mathematical model used to price options, which are financial derivatives. It is a partial differential equation (PDE) describing the price of the option over time. The model takes into account the current stock price, the strike price of the option, the interest rate, the volatility of the underlying asset, and the time remaining until expiration. The model is used to calculate the theoretical price (also known as the fair value) of a call or put option. It is widely used in the options market, both by traders and financial analysts.
The price of the call option in the up-state can be calculated using the Black-Scholes formula for a European call option with the following inputs:
Stock price: $157.50
Delta: 2/8
Risk-free rate: 1%
Stock up-factor: 1.13
Using the Black-Scholes formula, the price of the call option is $4.52.
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when pete mills went to withdraw $3,000 from the nationwide fidelity mutual fund, he was informed that the fund would charge 4 percent of the amount withdrawn. what is the dollar amount of the withdrawal charge?
The amount withdrawn = $3,000
Charges on withdrawal = 4%
We need to divide this percentage by 100% and multiply by the amount that was withdrawn in order to determine the dollar amount that will be charged on it.
Withdrawal charges = (4/100)*3000
= $120
So, the amount of the withdrawal charge = $120
When a loan is terminated or returned in full or in part before the mutually agreed-upon maturity date, some banks charge their clients a withdrawal fee or compensation. The compensation is equal to the interest the bank would no longer receive, therefore it reflects lost revenue for the bank.
In urban areas there are three free transactions per month; in non-metro areas, there are five. After that, cash withdrawals will be charged Rs 21 plus any relevant taxes, while non-financial transactions would be charged Rs 8.50 plus taxes.
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what kinds of information does your sales team likely need included in each persona? the size of the target market represented by each persona the full name, title, and direct phone number of the persona so that they can reach out and initiate a sales conversation the goals and challenges the persona typically has that your product can help with their quota for the number of sales they need to close with that persona each quarter
The scope of the target market that each persona represents. The persona's full name, title, and direct phone number so they may get in touch with them and start a sales conversation
A target market is a particular group of people with common traits to whom a company offers its goods or services. Target markets assist businesses fully comprehend their potential clients so they may develop marketing strategies that support their commercial and marketing goals. For instance, the target market and audience for a children's toy may be boys aged 9 to 11 and the parents of those boys. It can also be described as the group of consumers who are most likely to be affected by marketing initiatives. The buyer persona is separate from the target market. Geographical, demographic, psychographic, and behavioural segments make up the four target markets. Demographic, psychographic, behavioural, geographic, and firmographic segmentation are the five categories of market segmentation. The portion of a market that a company thinks will provide it the best chance to sell is known as a primary target market. The largest market segment may not always be the primary target market. For instance, men under 50 may make up the majority of golfers.
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PT: True or False: Point transfers can be initiated for frequent flyer/guest accounts whose account names differ from MR Account.
False , Point transfers cannot be initiated for frequent flyer/guest accounts whose account names differ from MR Account.
What does MR Account mean?
MR Account is an abbreviation for Money Reimbursement Account. It is a type of bank account used to hold funds set aside for the purpose of reimbursing employees or customers for specific expenses incurred. This type of account enables businesses to easily manage, track, and control the expenses for which they are responsible.
What is an Bank Account?
A bank account is a financial account held at a financial institution, usually a bank, that allows the account holder to deposit and withdraw funds. Bank accounts are used to save money and make payments. They are also used to gain access to other financial services such as overdraft protection, loans, and credit cards.
Therefore the answer will be False as point tranfer cannot be initiated for frequently flyer guest account whose name differ from MR account.
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the market for corporate control serves as a means of governance when a. internal controls have failed. b. the top management team's interests and the owners' interests are aligned. c. the firm is overpriced in the market. d. the corporation has greatly exceeded performance expectations.
The market for corporate control serves as a means of governance when internal controls have failed. Option A
What are internal controls?Generally, An entity's board of directors, management, and other people are the ones who carry out the process of internal control.
This process is aimed to offer reasonable confidence that information is trustworthy, accurate, and timely. pertaining to conformity with the relevant rules, regulations, contracts, policies, and procedures.
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g describe what a merger is and then explain the difference between a vertical merger and a horizontal merger. do some searching and give one example of a recent merger of 2 companies.
When two competing companies that sell the same products or services merge, this is referred to as a horizontal merger and a vertical merger is a merger of companies that operate at different stages of production.
A merger is a business transaction in which two existing, independent companies join forces to form a new, single legal entity. Mergers are entirely voluntary. Both companies are typical of comparable size and scope, and both stand to benefit from the transaction.
From start to finish, the merger and acquisition process encompasses all of the steps involved in merging or acquiring a company. This includes all activities such as planning, research, due diligence, closing, and implementation, which we will go over in detail in this article.
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How is the marketing department involved in the technical and marketing development stage of the product development process?.
The most effective promotion mix for the fresh product is determined via product prototype testing with target consumers.
What does the term "marketing" mean?The process of generating, conveying, delivering, and exchanging products and services that are valuable to customers, clients, business partners, and society at large is known as marketing.
Which four sorts of advertising are there?It explains the marketing mix. The four Ps are the following: product, selling prices, venue, and promotion. They represent a "marketing strategy," or the set of strategies and tactics used by marketers to achieve their marketing objectives. In 1960, E officially came up with the 4 Ps.
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a $5000 investment earns 7.2% annual interest, and an $8000 investment earns 5.4%, both compounded annually. how long will it take for the smaller investment to catch up to the larger on
It will take 3.23 years for the smaller investment to catch up to the larger one with $5000 investment earning 7.2% annual interest, and an $8000 investment earning 5.4%, both compounded annually.
Give a brief account on compound interest.In other terms, compound interest is interest on principal + interest and refers to the addition of interest to the principal amount of a loan or deposit. Reinvesting interest, or adding it to the lent capital rather than paying it out or requiring payment from the borrower, results in interest being earned on the principal amount plus previously accumulated interest in the next period. In economics and finance, compound interest is common.
In contrast to simple interest, which doesn't compound because past interest isn't added to the principle for the current period, there is compounding with compound interest. The simple annual interest rate is calculated by dividing the period interest by the number of periods in a year.
To solve the question :
Use the compound interest formula:
A = P(1+i)^n
A = amount
P = principal
i = interest per compounding period
n = number of compounding periods
The totals would be equal if the smaller investment eventually catches up to the larger one. As a result, when we combine the two, we get an equation in which n, or the number of periods, is the only unknown.
T = 5000(1.072)^n=8000(1.054)^n
Solve for n:
(1.072/1.054)^n = 8000/5000
take logs and apply laws of logarithm,
n × log(1.072/1.054) = log(8000/5000)
n = log(8000/5000)/log(1.072/1.054)
I get approximately n = 28.
Substituting the value of n in the equation :
T = 5000(1.072)^n=8000(1.054)^n
T = 2.61 = 8.43
T = 3.23
Therefore, it will take 3.23 years for the smaller investment to catch up to the larger one.
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what type of disability income insurance pays a lump sum enabling certain businesses to cover the cost of purchasing a disabled business owner's interest in the business?
Through the payment of a lump sum reward, Disability Buy-Sell insurance enables the insured's business partners to acquire his or her share of the company.
The disability policies come in two different varieties. Two years are the maximum payment period for short-term plans. For a few months to a year, on average. Benefits under long-term insurance may last a number of years or until the disability is resolved. As the name suggests, disability insurance is a type of insurance that provides benefits in the event that a policyholder becomes the disabled and is unable to work or generate an income.
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In each of the following independent situations, determine the dividends received deduction for the calendar year C corporation. Assume that none of the corporate shareholders owns 20% or more of the stock in the corporations paying the dividends. Income from operations Expenses from operations Qualifying dividends Almond Corporation 700,000 (600,000) 100,000 Banana Corporation $800,000 (860,000) 100,000 Cherry Corporation $900,000 (910,000) 100,000 Click here to view the dividend received deduction table. a. The dividends received deduction for Almond Corporation is b. The dividends received deduction for Banana Corporation is c. The dividends received deduction for Cherry Corporation is 70,000 X 70,000X 63,000 X
Dividends Almond Corporation=[tex]700001.2,[/tex], Banana Corporation=[tex]800001.72,[/tex] Cherry Corporation=[tex]900001.82[/tex]
Dividends received deduction =total ordinary dividends./ qualifying for this deduction*"percent qualifying for deduction
dividends Almond Corporation= [tex]700,000 +600,000/100,000*20%=700001.2[/tex]=[tex]700001.2,[/tex]
Banana Corporation=[tex]800,000+860,000/ 100,000 * 20%=800001.72[/tex]=[tex]800001.72,[/tex]
Cherry Corporation
[tex]=900,000 +91 0,000/100,000*20%=900001.82[/tex]=[tex]900001.82[/tex]
A corporation that gets dividends from other corporations in which it owns stock is entitled to a tax deduction known as the dividends-received deduction under U.S. federal income tax law. This deduction aims to lessen the effects of supposed triple taxation. If not, the corporation that made the earnings would be taxed first, followed by the corporate shareholder, and finally the individual shareholder. Although Congress permitted the double taxation of companies, it did not intend for a triple tax to be imposed on corporate profits at every stage of distribution. The consolidated return regulations, which permit related firms to file a single consolidated return for U.S. federal income tax purposes, are complemented by the dividends-received deduction.
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Dora Hernandez is paid $10 per hour. During the week ended 11/30, Dora worked 25 hours. Assuming a 6.2% social security tax, the company would withhold ___ from Dora's gross pay for social security taxes.
Assuming a 6.2% social security tax, the company would withhold $15.50 from Dora's gross pay for social security taxes.
Tax collection makes reference to the policy action and personal conduct to ensure that taxpayers pay the right amount of tax at the right time and by obtaining the right tax credits. Tax is a compulsory financial charge or other tax imposed by a government entity on taxpayers to finance public expenditures and other expenditures.
In the period between 3000 and 2800 BC, ancient Egypt saw the first recognised taxes. Tax evasion and resistance to taxes are both illegal and subject to punishment. Taxes can be paid in cash or in labour equivalents, and they can be direct or indirect taxes.
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he expected price level is assumed to be constant along a given short-run aggregate supply curve. true false
True. The supply curve displays the amount of Real GDP delivered at various prices while the demand curve can move up and down the aggregate supply curve.
Why is the aggregate supply curve for the short term positive?Because the quantity supplied rises when the price rises, the aggregate supply curve in the short run has an upward slope. Businesses only have one fixed factor of production in the short term (usually capital ). The output and real GDP increase at a given price as the curve moves outward.
What are the main variables that will impact aggregate supply in the short term?Factor costs, transient supply shocks, government actions with short-term consequences, and expectation of price level are among the factors influencing the short run aggregate supply.
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Barry, Inc.'s sales equal $30,000 and cost of goods sold equals $10,000. Its beginning inventory was $800 and its ending inventory is $1,200. Barry's inventory turnover ratio equals _____ times.
a. 15
b. 10
c. 5
Inventory turnover for Barry is 10 times.
Calculation for the number of turns is as follows:A financial metric known as inventory turnover is used to determine how frequently inventory is sold or used during a specific time period. It is provided as the ratio of average inventory to cost of sales for the time period.
Given data use for calculation of Barry's inventory turnoverA $10,000 cost of goods sold.
Initial stock value: $800
Inventory closing equals $1,200
Average inventory is ($800 + $1,200)/2, =$1,000.
Inventory turnover ratio is $10,000/$1,000= 10.
This means that the Barry's inventory turnover ratio is equal to 10 times.
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or a monopoly, the marginal revenues per unit fall ___ the price per unit when the price ___, the monopoly gives up some revenue or units it could have sold at higher prices
Or a monopoly, the marginal revenues per unit fall below the price per unit when the price decrease, the monopoly gives up some revenue or units it could have sold at higher prices.
In a monopoly, due to the fact the rate adjustments as the amount offered adjustments, marginal sales diminishes with every extra unit and could continually be identical to or much less than common sales.
The key distinction with a wonderfully aggressive company is that withinside the case of best competition, marginal sales is identical to rate (MR = P), even as for a monopolist, marginal sales isn't always identical to the rate, due to the fact adjustments in amount of output have an effect on the rate.
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ch9 to avoid being influenced by the activities of competitors, a market plan should not include a competitive analysis
avoid being influenced by the activities of competitors, a market plan should not include a competitive analysis. The given statement is false.
What are the different types of competitive analysis methods?A competitive analysis is a strategy that entails investigating the main rivals to learn about their goods, sales, and marketing strategies. Conducting a competitive market analysis has many advantages, including helping businesses implement stronger business strategies, fend off rivals, and gain market share. The assessment of the advantages and disadvantages of present and potential competitors is known as competitive analysis in marketing and strategic management. This analysis offers both an offensive and defensive strategic context to pinpoint opportunities and threats.
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a firm that wants to distribute its products as widely in a market as possible would use a(n) distribution strategy.
A firm that wants to distribute its products as widely in a market as possible would use a(n) intensive distribution strategy.
In the field of business, such a strategy in which a product made by an organization is sent to as many outlets as possible in order to get a wide marketing target is referred to as an intensive distribution strategy.
Intensive distribution is done when you want to increase the sales of a product and want to distribute the product widely in the market of a place.
An intensive distribution strategy is used by firms in order to make a wide appreciation of their product. A selective distribution strategy is a strategy that sells products to a specific outlet.
The question will correctly be written as:
a firm that wants to distribute its products as widely in a market as possible would use a(n) ................ distribution strategy.
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despite the considerable emphasis that most companies and other types of organizations put on communication, why do you think that many employees feel there is inadequate communication with and from their managers? 2. assume that you are now working in the first, truly management position in your career. what is likely to be the most important communication issue/problem you will face in the first few months in that position? 3. will the probable continued increase in electronic communication within and between organizations be likely to increase or decrease the communication issues/problems faced by the typical manager? explain the reasoning behind your answer. 4. how can knowledge of the basics of negotiation assist managers in doing their day-to-day activities, especially in regard to exercising leadership and influence? can you provide examples?
A showcasing supervisor accepts that neglected correspondence is viewed as more sound than paid structures.
What is an ad?
All an ad can be characterized collectively as purchaser advancements programs that are planned and created with the sole aim of making the different labor and products that are being presented by a business firm become known, famous, and recognizable to its clients and possible clients.
we can assist a business with firming in the accompanying positive ways:
To create store traffic.
To improve brand dependability.
What is the public connection?
The public connection can be characterized as a type of customer advancement that is normally founded on neglected correspondence.
In light of the director's thought, we can surmise and sensibly find that advertising will be the most proper limited-time structure.
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is a group incentive program that measures improvements in productivity and effectiveness and distributes a portion of each gain to employees. group of answer choices commission sharing profit rate gainsharing merit rate group bonus
Gainsharing is a group incentive program that measures increases in productivity and effectiveness and distributes a part of each to employees/working professionals.
It is a contract that expresses the vendor's assistance to the client in terms of particular advantages to the client's business. The payment the client will make in accordance with the vendor's efficacy in providing certain business benefits is also specified in such a contract.
The main components of this paradigm are, in ascending order:
Defining and choosing business metrics Benchmarking client metrics Creating key performance indicatorsAssessment of investment choicesDevelopment of profit-sharing contracts Financial engineeringService provisionMetrics reassessment and modificationLearn more about gainsharing here:
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g the market quantity in a perfectly competitive market is 600. if there are 3 firms in a costless cournot-style oligopoly in this market, what quantity will be sold?
Answer: 450
Explanation:
work retirement plan provides a lump sum at retirement that is dependent on the employee choices, the market, and employer contributions hdfs
Work retirement plan provides a lump sum at retirement that is dependent on the employee choices, the market, and employer contributions hdfs Increasingly, employers are making to be had to their employees a one-time fee for all or an element in their pension.
This is referred to as a lump-sum payout option. If you pick a lump-sum payout as opposed to month-to-month payments, the obligation for handling the cash shifts out of your enterprise to you.
In addition, in a conventional 401(k) plan, employers have the choice of creating contributions on behalf of all participants, making matching contributions primarily based totally on employees' optional deferrals, or both.
An enterprise-backed retirement plan is a place of business gain provided with the aid of using a few businesses to assist offer people with profits in retirement. Employer-backed plans take one-of-a-kind forms, however they healthy broadly speaking into categories: Defined gain plans, which promise people a selected quantity of retirement profits.
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Bree's Bait Shop is a successful store that specializes in highly effective fishing tackle. Bree has employed a high-tech computer tracking system that allows her to separate her customers into two different groups of consumers with differing price elasticities of demand. She is interested in increasing her profits through price discrimination and approaches your marketing firm for advice. Assuming her demand curve is downward sloping, you tell her there is one more crucial piece of information you must have in order to advise her. You ask her: a. What is your current profit? b. What are your fixed costs? c. Are you able to prevent selling between customers? d. Are you currently producing where P=ATC?
CURRENT PROFITS potential in the case of every Company the income which may additionally lawfully be dispensed at the expiration of every economic length before making any provision for open reserves but aside from any open reserves or balance.
What are fixed costs?Fixed charges are expenses that are impartial of volume. Fixed charges tend to be costs that are based totally on time rather than the quantity produced or sold through your business. Examples of fixed fees are lease and rent costs, salaries, utility bills, insurance, and mortgage repayments.
Examples of constant expenses are rent and rent costs, salaries, utility bills, insurance, and loan repayments. Some kinds of taxes, like commercial enterprise licenses, are additionally fixed costs. Since you have to pay constant charges regardless of how a good deal you sell, you ought to be cautious about adding fixed costs to your small business.
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https://brainly.com/question/3636923#SPJ4carrie likes to shop at her local discount retailer because it has a policy of always having the lowest list price on an item instead of relying on putting items on sale at various times. what kind of pricing policy does this store use?
Carrie likes to shop at her local discount retailer because it has a policy of always having the lowest list price on an item instead of relying on putting items on sale at various times. functional.
Cut price stores focusing on a selected assortment of goods inside a retail category are known as “category killers.” Examples of those consist of IKEA for domestic furnishings, Staples for office merchandise, and domestic Depot for hardware and construction materials.
It is one of the biggest bargain shops in the america, and its purple bull's-eye emblem is familiar in the course of the usa. company headquarters are in Minneapolis, Minnesota. Banker and actual estate investor George Draper Dayton included target in 1902 as Goodfellow Dry goods.
Present day bargain stores may also range from area of expertise shops (inclusive of bargain bookstores) to main discount chains that normally promote a extensive sort of products inclusive of hard items (e.g., primary electronics, car supplies, toys, and small appliances), gentle items (e.g., garb, bedding, and tub products), groceries.
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a fast food chain empowers their customer service employees by giving them a $10 allowance for resolving each customer’s complaint. for example, when a customer calls about a misplaced order, the customer service employee can use the $10 to place a new order for them, without having to ask for supervisor approval. this practice has been shown to increase both customer and employee satisfaction. which type of empowerment is this? group of answer choices transactional psychological structural transformational motivational
This practice shown in the example is Structural motivation and has been shown to increase both customer and employee satisfaction.
What is meant by motivation?The word "motivation" comes from the noun "motive," which describes a person's needs, wants, or motivations. It is the process of inspiring people to act in order to accomplish the goals. The desire for money and success is one of the psychological elements that affects people's behavior in the context of career objectives.
What purpose does motivation serve?Each of us have a unique quality that is mirrored in our motivation, allowing us to accomplish significant objectives like increased performance, better health, personal growth, or a sense of purpose. Through motivation, we are able to affect our ideas, feelings, and behaviors.
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For the last 20 years, terry has made regular quarterly payments in the amount of $308 into an account paying 1.5% compounded quarterly. if, at the end of the 20 year period, terry stops making deposits, transfers the balance to an account paying 5.5% interest compounded annually, and withdraws a annual salary from the account, determine the amount that he will receive every year for 10 years. round to the nearest cent.
Terry has been making consistent quarterly deposits of $308 into an account paying 1.5% compounded quarterly for the past 20 years.
Briefing:-Calculate Terry's yearly wage for the next 10 years if, at the end of the 20-year period, he stops making deposits, moves the balance to an account yielding 5.5% interest compounded annually, and withdraws an annual salary from the account. $3,803.97, rounded to the nearest cent.
Compound interest is determined in what manner?When calculating compound interest, the initial principal amount is multiplied by one along with the annual interest rate raised to the number of compound periods minus one. The resulting value is then reduced by the full initial loan amount. Ms. Katie Kernel Investopedia, 2019. "Copyright."
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EX 9-4 Capital and revenue expenditures OBJ. 1 Warner Freight
Lines Co. incurred the following costs related to trucks and vans
used in operating its delivery service:
1. Changed the oil and greased the joints of all the trucks and
vans.
2. Changed the radiator fluid on a truck that had been in
service for the past four years.
3. Installed a hydraulic lift to a van.
4. Installed security systems on four of the newer trucks.
5. Overhauled the engine on one of the trucks purchased three
years ago.
6. Rebuilt the transmission on one of the vans that had been
driven 40,000 miles. The van was no longer under warranty.
7. Removed a two-way radio from one of the trucks and installed
a new radio with a greater range of communication.
8. Repaired a flat tire on one of the vans.
9. Replaced a truck’s suspension system with a new suspension
system that allows for the delivery of heavier loads.
10. Tinted the back and side windows of one of the vans to
discourage theft of contents.Classify each of the costs as a
capital expenditure or a revenue expenditure.
Revenue is the entire amount of income generated through the sale of goods or offerings related to the employer's primary operations. revenue, also known as gross sales, is frequently known as the "top line" as it sits on the pinnacle of the profits announcement.
Capital is a wide term which can describe anything that confers value or gain to its owners, consisting of a manufacturing unit and its equipment, intellectual belongings like patents, or the financial belongings of a commercial enterprise or an person.
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when it comes to obtaining information about employees, an ethical approach is a. informed consent. b. economic efficiency.
Informed consent is a moral strategy but when comes to getting employee information.
How would you define "economic"?Economics is the study of scarcity and how it impacts the utilization of resources, the creation of goods and services, the growth of production and welfare through time, as well as a wide range of these other complex issues that are very significant to society.
What is an example in the economy?Farmers lower the price of something like the crop as corn production rises so they may sell their harvest. When there is an excess of supply compared to demand, such as the amount of grain required to feed the nation's population, output must be squandered, which costs farmers money.
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which of the following is true of closing entries? a.retained earnings is not involved in the entry. b.retained earnings may be debited or credited. c.retained earnings is always credited. d.retained earnings is always debited.
retained earnings are always credited as true of closing entries.
closing entriesAn accounting cycle is a multi-step process that records, summarise, and arranges your financial activities into financial statements. After the majority of the cycle has been finished and financial statements have been prepared, the final stage in the process is known as shutting your books. Making closing entries to move temporary account balances into the firm's permanent accounts is shutting your accounting books.
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chandni owns a frozen yogurt shop. due to fluctuations in seasonal demand, her business has struggled. if chandni fails to repay her bank loan, what will the lending institution do to recover its loss?
The lending institution will sell the mortgage or claim the collateral in order to make up for its loss.
What is the short definition of a mortgage?When you and a bank enter into a mortgage, the lender is granted the power to seize your properties if you are unable to pay back the loan amount plus interest. To purchase a property or borrow more money against value of the home you currently own, you can use a mortgage loan.
What exactly is a mortgage?A mortgage payment with real estate as the security. Mortgages can be used to finance existing housing that the customer already owns, despite the fact that most people think of them being employed to pay for the purchase of either a property.
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