sundance systems has the following transactions during july. july 5purchases 42 lcd televisions on account from red river supplies for $2,600 each, terms 2/10, n/30. july 8returns to red river four televisions that had defective sound. july 13pays the full amount due to red river. july 28sells remaining 38 televisions from july 5 for $3,100 each on account.
Answers
As per the given transactions for Sundance Systems during July, the step-by-step explanations are mentioned below:On July 5th, Sundance Systems purchased 42 LCD televisions on account from Red River Supplies for $2,600 each, terms 2/10, n/30.
Sundance Systems Account is debited with $109,200 [$2,600 x 42] and Red River Supplies Account is credited with the same amount. Sundance Systems will also record the accounts payable for $109,200 until the payment is made.
On July 8th, Sundance Systems returned four televisions to Red River Supplies that had defective sound.Red River Supplies Account is debited with $10,400 [$2,600 x 4] and Sundance Systems Account is credited with the same amount.
On July 13th, Sundance Systems pays the full amount due to Red River Supplies.Sundance Systems will record a reduction in accounts payable of $98,800 [$109,200 - $10,400] and Cash Account will be debited with $98,800.
On July 28th, Sundance Systems sells the remaining 38 televisions from July 5th for $3,100 each on account.Sundance Systems Account is credited with $117,800 [$3,100 x 38] and Accounts Receivable Account is debited with the same amount until the payment is received.Note: Sundance Systems will record a purchase discount if the payment is made within the discount period, which is 2/10, n/30. In this scenario, no purchase discount is mentioned.
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Related Questions
An investment property has 60 identical units. It can have an income of $566,000 annually. It has a monthly operating expense of $20,000 and 3% of potential gross income is in reserve. The usual vacancy is 3 units per month. How much is the net operating income (NOI)?$280,720$380,720$472,800$520,720
Answers
The net operating income (NOI) is $807,098.10. None of the given options match this value exactly, but the closest option is $520,720.
To calculate the net operating income (NOI), we need to subtract the operating expenses and reserves from the income.
First, let's calculate the annual gross income:
$566,000 / year = ($566,000 / 12 months) x 12 months = $47,166.67 / month
Potential Gross Income (PGI) = $47,166.67 x 60 units = $2,829,999.20 / year
Reserve = 3% x PGI = 0.03 x $2,829,999.20 = $84,899.98 / year
Now, let's calculate the monthly operating expenses:
$20,000 / month x 12 months = $240,000 / year
So the net operating income (NOI) is:
NOI = PGI - vacancy - operating expenses - reserves
Vacancy = 3 units / month x 12 months = 36 units / year
NOI = $2,829,999.20 - ($47,166.67 x 36) - $240,000 - $84,899.98
NOI = $2,829,999.20 - $1,698,001.12 - $240,000 - $84,899.98
NOI = $807,098.10
Therefore, the net operating income (NOI) is $807,098.10. None of the given options match this value exactly, but the closest option is $520,720.
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Project Data
Mowgli Corporation adjusted trial balance for fiscal year ending December 31, 2019.
Dr.
Cr.
Cash
$21,000
Accounts Receivable
$102,000
Inventory (beginning)
$20,000
Estimated Returns Inventory
$5,000
Land
$9,000
Office equipment
$22,000
Accumulated Depreciation-equip.
$20,000
Building
$233,000
Accumulated Depreciation-Bldg.
$94,000
Patent
$16,000
Accounts Payable
$73,000
Customer Refunds Payable
$2,000
Interest Payable
$14,000
Unearned Revenue
$22,000
Notes Payable
$100,000
Capital
$80,000
Drawings
$29,000
Sales
$206,600
Purchases
$106,000
Purchases Returns and Allowances
$1,000
Purchase Discounts
$500
Freight-in
$300
Insurance Expense
$6,000
Interest Expense
$8,000
Repair Expense
$5,000
Salaries Expense
$17,600
Advertising Expense
$1,200
Depreciation Expense
$11,000
Utilities Expense
$1,000
$613,100
$613,100
Other Information:
Inventory on hand at December 31, 2019 is $55,000 (Hint: this is ending inventory).
Estimated Returns Inventory increased $2,000 (Hint: Include in COGS and Closing Entry).
Administrative expenses include: Insurance, Repair, Utilities, and Depreciation.
Selling expenses include: Advertising and Salaries.
$50,000 of the Notes Payable is payable next year (Hint: classified as current).
Answers
Answer:
21,000
Explanation:
which of the following is a guideline that marketers should follow to leverage owned, earned, and paid media? group of answer choices maximize owned media by reaching out beyond their existing websites to create digital touch points plan sales goals based on estimates of public and media relations efforts will translate into earned media don't count on paid media to play an important role in driving customer engagement focus on creating fewer digital touch points for more control over sales.
Answers
The guideline that marketers should follow to leverage owned, earned, and paid media is to maximize owned media by reaching out beyond their existing websites to create digital touch points.
This approach allows marketers to expand their online presence and engage with their target audience through various channels. By creating additional digital touch points, such as social media profiles, mobile apps, and email newsletters, marketers can increase their brand visibility, strengthen customer relationships, and drive traffic to their owned media platforms. This strategy provides marketers with more control over their messaging and enables them to cultivate a loyal customer base.
Maximizing owned media by creating digital touch points beyond existing websites is crucial for marketers because it allows them to extend their reach and engage with customers through multiple online platforms. While websites are an essential owned media asset, relying solely on them limits the potential for customer engagement.
By diversifying their digital touch points, marketers can tap into various channels where their target audience is present, such as social media platforms, mobile apps, and email marketing.
Creating additional digital touch points expands the brand's online presence and increases the likelihood of reaching potential customers. It also enables marketers to provide valuable content and experiences across multiple platforms, enhancing brand visibility and customer interactions.
By leveraging owned media in this way, marketers can establish a cohesive and online presence that drives customer engagement and supports their overall marketing goals.
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difference between associative and commutative property
Answers
Answer:
The associative property of addition states that you can group the addends in different ways without changing the outcome. The commutative property of addition states that you can reorder the addends without changing the outcome.
Explanation:
What are some of the ripple effects of food waste
Answers
Answer:
Increased wastage of food can prompt expanded quantities of one, which would then be able to place the second in the chain out of equilibrium. The frameworks in the chain are touchy, and even the littlest changes can have an expanding influence on a biological system, lessening its biodiversity.
Explanation:
Xavier need to print ome color copie for a preentation, and he ha a coupon. Hi cot y in dollar to print x copie i y = 0. 08x – 2. 50
Answers
The equation y = 0.08x - 2.50 represents the cost, y, in dollars, to print x copies for Xavier's presentation, where x is the number of copies he needs to print.
The constant term -2.50 represents a fixed cost associated with printing the copies, such as setting up the printer or using the printing services. The coefficient 0.08 represents the per-copy cost, which increases as the number of copies, x, increases.
So, for a given number of copies, x, we can substitute it into the equation to find the total cost, y, to print those copies. For example, if Xavier presentation needs to print 50 copies, then:
y = 0.08 * 50 - 2.50 = 4 - 2.50 = 1.50
So, it will cost Xavier $1.50 to print 50 copies using his coupon.
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Why is it necessary to invest for retirement instead of saving for retirement?
Answers
Answer:
Compound interest is likely the most significant benefit of investing early in retirement. Though there's no guaranteed set rate of return, when you start saving for retirement earlier, you'll end up with more money with a smaller capital investment than if you wait until later in your career
Explanation:
I have to do question A and C for TODAY
someone help me urgent please !!!!
Answers
(A) (1) The Four enterprising characteristics/skills displayed by Emer:
InnovationRisk-takingVisionaryEntrepreneurial thinking(ii) Two methods of encouraging intrapreneurship within the business:
Employee empowerment: Allowing employees to have a say in the decision-making process, delegating tasks and responsibilities, and providing them with the necessary resources to implement their ideas can encourage intrapreneurship.Recognition and reward: Recognizing and rewarding employees for their contributions to the business can encourage them to be more innovative and to take initiative in finding new opportunities for the business.(B) Obligations of Emer as business owner to the various stakeholders in the enterprise:
Customers: Emer has an obligation to provide a quality product and service to her customers. She is also responsible for ensuring that the restaurant is safe and hygienic for her customers.Employees: Emer is responsible for providing her employees with good rates of pay and conditions of work. She also has an obligation to provide her employees with training and development opportunities.Suppliers: Emer has an obligation to source produce from reputable suppliers and to pay her bills in a timely manner.Community: Emer has an obligation to be a responsible member of the community in which her business operates. This includes being a good neighbor and being environmentally friendly.Shareholders: Emer has an obligation to maximize shareholder value and to report financial performance honestly.(C) Evaluation of John Doyle's management skills:
Leadership: John is a great team leader and team builder. He leads by example and is able to delegate work effectively to his employees.Problem-solving: John is able to effectively handle any problems that arise with either staff or customers. He is able to sort out issues quietly and efficiently.Communication: John is able to communicate effectively with his staff and customers. He encourages the employees, through fortnightly meetings, to suggest improvements for the business.Motivation: John is able to motivate his staff and build a loyal team. Many staff members have been promoted to positions of responsibility in the business.What are the characteristics about?Innovation: Emer is constantly trying to improve the restaurant's image, profitability, and range of services that it offers. She and John actively encourage the restaurant's employees to suggest improvements for the business and many ideas have been introduced, such as extending the opening hours to include breakfast and catering for outside parties and special events through the online business.
Risk-taking: Emer invested her savings and took out a long-term loan to purchase a restaurant on the south side of Dublin. She was willing to take the risk of starting her own business and has successfully built a profitable enterprise.
Visionary: Emer recognizes the importance of having a loyal customer base for the long-term success of the business. She is constantly striving to improve the restaurant's image, profitability and the range of services that it offers.
Entrepreneurial thinking: Emer is constantly looking for new opportunities and ways to improve her business. She sees the value of her employees' ideas and actively encourages them to suggest improvements for the business.
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Dino Inc. projects cash collections of $106,000 and $180,000 for June and July respectively; cash payments are expected to be $117,400 for June and $104,000 for July. They are required to maintain a minimum cash balance at the end of the month of $10,000. Dino has a $50,000 line of credit and can draw down (borrow) in multiples of $1,000. The interest rate on borrowings is 2% each month. The beginning cash balance for June is expected to be $14,000. There were no borrowings at the beginning of June. How much will Dino need to borrow in June? 1) $1,400 2) They do not need to borrow in June 3) $2,000 4) $8,000
Answers
Dino Inc. will need to borrow $8,000 in June Explanation: Given data: Cash collections of $106,000 and $180,000 for June and July respectively Cash payments of $117,400 for June and $104,000 for July. Minimum cash balance at the end of the month of $10,000.Line of credit of $50,000 at an interest rate of 2% per month.
Beginning cash balance for June is expected to be $14,000.There were no borrowings at the beginning of June. The company will be short of cash in June, so they will need to borrow money to meet its cash requirements. Therefore, the ending cash balance in June should be at least $10,000.
Additionally, we can calculate the excess or shortfall of cash for each month with the help of the following formula: Ending cash balance = Beginning cash balance + Cash collections – Cash payments Assuming the beginning balance is $14,000, we have: June shortfall or excess = $14,000 + $106,000 - $117,400 = -$7,400Dino Inc.
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Fill in the table by indicating the changes in the determinants necessary to decrease short-run aggregate supply (increase/decrease)
Answers
Input prices and burdensome regulation will lead to an increase in the short-run aggregate supply while human capital leads to a decrease.
What is supply?It should be noted that supply is the quantity of goods that a producer is willing to sell at a price and particular period.
In this case, input prices and burdensome regulation will lead to an increase in the short-run aggregate supply while human capital leads to a decrease.
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a method for managing pollution in which a limit is placed on emissions and businesses or countries can by and sell emissions allowances
Answers
A method for managing pollution in which a limit is placed on emissions and businesses or countries can by and sell emissions allowances is Cap and trade .
What does the term "cap and trade" mean?
A "cap" on maximum emissions is imposed under the cap-and-trade system, which reduces the total emissions from a number of emitters.
It is said to as a market-based approach that aims to lower total pollutant emissions and promote corporate investment in fossil fuel substitutes and energy efficiency.
What does "cap and trade system" mean?
A government regulation scheme known as "cap and trade" aims to reduce or "cap" the overall level of certain chemical pollutants, primarily carbon dioxide emissions, that arise from industrial activity.
The argument put up by cap and trade proponents is that it is a preferable option to a carbon tax.
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What are the three types of money you should use when paying for college, and what type of money are scholarships and grants?.
Answers
Loans, grants, and work-study are the three categories of federal financial aid.
Grants are typically offered based on financial need, whereas scholarships are merit-based and given to students based on their academic performance, extracurricular involvement, field of study, and other factors.
Financial aid is cash that you are given or lent in order to help you pay for college. Financial aid that you don't have to pay back includes grants and scholarships. They are known as gift aid because of this.
Some college finance methods are:
Try to get a scholarship. Obtain a college grant by applying. Like scholarships, grants for college are based on financial need and are not repaid.Federal student loans and private student loans.Work study programmes at colleges.To know more about college scholarship refer to the given link:
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The most common time frame individuals use when developing a budget is _____. A) Yearly B) Monthly C) Daily D) Weeklyeco
Answers
Answer:
Monthly
Explanation:
Why are positive customer relations important?
Answers
Answer:
So the consumers knows they have a positive review on buying something from you and they will most likely come back to buy more
which general staff member negotiates and monitors
Answers
Answer:
The Finance/Administration Section is the General Staff member that negotiates and monitors contracts, maintains documentation for reimbursement, and oversees timekeeping for incident personnel.
Which statement about the Federal Reserve (the Fed) is true?
O Unless a person works there, the Fed has little impact on everyday life.
O The Fed determines the criteria banks must use to evaluate loan requests.
O The Fed sets monetary policy, which affects the interest rates banks offer.
O Because it is independent, the Fed reviews and approves the national budget.
Answers
A statement that is true on the Federal Reserve is that C. The Fed sets monetary policy, which affects the interest rates banks offer.
What does the Federal Reserve do ?The American central bank is known as the Federal Reserve System (FRS). It is conceivably the most potent financial organization in the entire globe and is sometimes referred to as "the Fed." It was established to give the nation a secure, adaptable, and stable financial and monetary system.
Its primary duties include controlling the money supply, establishing interest rates, and overseeing the financial system. In times of economic crisis, it also serves as a lender of last resort, as was shown during the financial crisis of 2008.
These powers of the Federal Reserve mean that it is the one which sets the monetary policy of the United States. This monetary policy will then affect the interest rates on loans, offered by banks.
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Benny spends all of his money buying wine and cheese. The marginal utility of the last bottle of wine he bought is 60, and the marginal utility of the last block of cheese he bought is 30. The price of wine is $3, and the price of cheese is $2. Benny: Group of answer choices is buying wine and cheese in the utility-maximizing amounts. should buy more wine and less cheese. should buy more cheese and less wine. is spending too much money on wine and cheese.
Answers
Answer:
should buy more wine and less cheese
Explanation:
Marginal utility is the additional utility derived from consuming one more unit of a good
The consumption decision is to consume more units of a good that gives the higher utility per good.
Marginal utility per good = marginal utility / price of the good
Wine = 60 / $3 = 20
Cheese = 30 / $2 = 15
Wine has a higher utility per good when compared with cheese. Benny should buy more wine and less cheese
A farmer owns some land that he can farm to produce crops. Farming output depends on the talent of the farmer. The farmer knows his talent, but the rest of the world knows only that a farmer's talent is uniformly distributed: 0 € [0, 1]. The farmer's payoff from farming his land is equal to his talent 0. Before setting up his farm, the farmer approaches the local manufacturing plant and offers to work on the production line. The farmer can ask the plant owner for any wage w 20, and the owner can reject (R) or accept (A) the offer. If the owner rejects the offer then the farmer must return home and settle into his farming. If the owner accepts the offer then the farmer's payoff is the wage w, while the owner's payoff is given by the net value ko - w, and this is common knowledge.
Define the set of pure strategies for each player and find the pure- strategy Bayesian Nash equilibria of this game.
Answers
The set of pure strategies for the farmer is to either offer a wage w to the owner or not to offer anything and return to farming. The set of pure strategies for the owner is to either accept or reject the farmer's offer.
To find the pure-strategy Bayesian Nash equilibria, we need to consider two cases:
If the farmer offers a wage w, then the owner will accept the offer if and only if ko - w > 0, or equivalently, if w < ko. In this case, the farmer's payoff is w, and the owner's payoff is ko - w.
Given that the owner's payoff is common knowledge, the farmer will choose the wage w that maximizes his expected payoff, given his belief that the owner's value of ko is uniformly distributed on [0,1].
Therefore, the farmer will choose w = 1/2, which is the expected value of ko. This results in a pure-strategy Bayesian Nash equilibrium where the farmer offers a wage of 1/2, and the owner accepts the offer if and only if ko > 1/2.
If the farmer does not offer anything and returns to farming, then the owner's payoff is always 0. In this case, the farmer's payoff is his talent, which is uniformly distributed on [0,1]. Therefore, the farmer's best response is to choose any wage w such that w > 1/2.
This results in a pure-strategy Bayesian Nash equilibrium where the farmer does not offer anything, and the owner always rejects any offer.
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review question why is a high credit score not an indication that you‘re winning with money?
Answers
It is because credit score is the number of things you owe.
A credit score: what is it?A customer's creditworthiness is shown by their credit score, which ranges from 300 to 850. The better a borrower seems to potential lenders, the higher their score.
The foundation of a person's credit score is their credit history, which includes the number of open accounts, total amount of debt, history of repayment, and other elements. Credit scores are used by lenders to determine whether a borrower will be able to make loan repayments on time.
Among the numerous credit bureaus in the US, only Equifax, Experian, and TransUnion have significant national relevance. These three businesses have complete market control over the collection, examination, and dissemination of consumer data in the credit markets.
The Fair Isaac Corp.'s FICO credit score methodology is used by financial institutions. Although there are several credit rating systems, the FICO Score is by far the most popular. One can raise their score in a number of ways, including by making loan payments on time and maintaining a modest debt load.
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Why do binding price floors cause a deadweight loss?.
Answers
A binding price floor is a minimum price that can be charged for a good or service. It is said to be binding if it is set above the equilibrium price. It will lead to an increase in price and a decrease in the quantity of goods and services exchanged.
A binding price floor will create a deadweight loss because it causes resources to be used inefficiently.
What is deadweight loss?Deadweight loss is the loss of economic efficiency that can occur when the equilibrium for a good or service is not achieved. It is the decrease in the overall social welfare caused by the binding price floor. Binding price floors cause a deadweight loss because they lead to a situation where the quantity supplied is greater than the quantity demanded.
Therefore, it creates a surplus of the good or service that the market cannot clear, and it creates an inefficient allocation of resources. The surplus occurs because the price is set above the equilibrium price, which makes it difficult for consumers to buy the good or service. As a result, producers will have a difficult time selling the goods or services, which will cause them to cut back on production.
This, in turn, will cause a decrease in employment, wages, and profits. Hence, binding price floors cause deadweight loss because they create inefficiencies in the market.
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If all players play their best responses, then the corresponding strategy profile must be a nash equilibrium.
A. True
B. False
Answers
Answer:
False
Explanation:
Nash Equilibrium is when all players maintain their strategy for the entire game, and thus cannot gain a competitive advantage by changing strategies mid-game. If the question was worded "If all players must play their best responses, then the corresponding strategy profile must be a Nash equilibrium."
A personal finance measure that compares an individual's monthly debt payment to his or
her monthly gross income.
O Debt-to-Income Ratio
O Credit Score
O Down Payment
O FHA
Please help
Answers
Answer:
a
Explanation:
how much you make verses how much you soend
A felon planned to break into the rental storage unit next to his that contained valuable electronic equipment. He went to a hardware store to purchase a crowbar. The proprietor sold him the crowbar even though he told her that he needed it to break into someone's storage unit. After the purchase, the felon went to the storage facility with his friend. The felon told the friend that he had lost the key to his storage unit and did not have time to contact the facility's manager, so they needed to break into the unit to get his equipment. Because the felon had a bad back, the friend pried open the door with the crowbar and carried the equipment out to the car. A silent alarm was triggered and the pair were apprehended shortly after leaving the facility. Can the proprietor and the friend be convicted as accomplices to larceny
Answers
Answer:
Yes.
The proprietor and the friend were accessories to the crime. They could have prevented it, but they did nothing. The friend even participated actively in the robbery.
Explanation:
In criminal law, an accessory to a crime refers to a person who knowingly and voluntarily participates in the commission of a crime, for example, breaking rental storage. They can be categorized as before the crime (the proprietor who sold the crossbar) or after the commission of the crime (the friend that facilitated the robbery). Accessories to a crime need not be actually present at the scene of the robbery to be held liable for this crime.
if inventory is in stock what does that mean?
Answers
Answer:
So inventory is like what you have in stock so like if i sold shirts i would say i have 16 shirts in my inventory but i need to get more in stock
Explanation:
Discuss the ""1/3 rule"" and its relationship to the resistance to organizational change
Answers
The "1/3 rule" refers to a concept related to the resistance to organizational change. It suggests that within any given organization, approximately one-third of individuals will readily embrace and support change, one-third will be neutral or ambivalent, and one-third will resist or oppose the change.
This rule highlights the common pattern observed during periods of change, indicating that a significant portion of employees tend to be resistant to change initiatives. Understanding this rule can help organizations anticipate and manage resistance more effectively.
Resistance to organizational change can arise due to various factors, such as fear of the unknown, concerns about job security, lack of trust in leadership, disruption of routines, or skepticism about the benefits of change. The individuals who fall into the resistant category may be resistant due to personal reasons, past negative experiences with change, or a perception that the proposed change threatens their interests or status quo.
Recognizing the existence of the 1/3 rule is crucial for change leaders and managers as it emphasizes the need to address resistance and actively engage employees throughout the change process. Strategies to mitigate resistance include effective communication, involving employees in the change planning and decision-making, providing training and support, addressing concerns and misconceptions, and demonstrating the benefits and positive outcomes of the change.
By acknowledging the 1/3 rule, organizations can proactively manage resistance, build support for change, and increase the overall success of change initiatives. It underscores the importance of change management efforts that focus not only on the technical aspects of change but also on the human side of change, taking into account individual emotions, attitudes, and concerns.
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Is profit the same as cash flow?
Answers
Answer:
No
Explanation:
Cash flow refers to the money that flows in and out of your business. It's income and expenses.
Profit, however, is the money you have after deducting your business expenses from overall revenue. Both are important, but cash flow is essential to keep your business running in the here and now.
Question 5 of 10 The tax rate. percentage paid on income taxes is called the marginal O A fixed O B. incremental O C. total O D. average SUBMIT
Answers
Answer:
Its not D
Explanation:
I got it wrong :((
The average U.S. worker is MOST likely to hold about _____ jobs between the ages of 18 and 25. Please choose the correct answer from the following choices, and then select the submit answer button. three two seven five
Answers
on january 1, 2025, blossom corporation issued $810,000, 7%, 10-year bonds at face value. interest is payable annually on january 1. blossom corporation has a calandar year-end. prepare all entries related to the bond issue for 2025
Answers
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.
Date Account Titles and Explanation Debit Credit
2020
Jan. 1
Cash $730,000
Bonds Payable $730,000
(To record the issue of bonds payable)
Dec. 31
Interest Expense $43,800 ($730,000 x 6%)
Interest Payable $43,800
(To record interest expenses)
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.
They encompass all exchanges involving the movement of money, including interest payments, depreciation, costs, and payroll. They encompass more than just the exchange of goods and services. Instead of being processed automatically like invoices or cash receipts are, general journal entries are manually entered into the general ledger.
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who is elon musk......
Answers
Answer:
Elon Musk FRS an entrepreneur and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI. A centibillionaire, Musk is one of the richest people in the world.