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- The company el Ahuehuete, S.A., shows you the data of the credit applicants. Without knowing the rules and credit policies of this company. Each case will provide conditions for you to establish minimum criteria for granting credit. Once you have reached an agreement as a team, review who would be subject to credit according to these new policies that have been established. Dinora Velázquez. Homemaker. She manages the household and budgeted monthly household expenses amount to $16,000.00. Her husband is the breadwinner; he is a maquila worker and earns $30,000.00. They have 2 elementary school age children. She has a mortgage on the house they live in, which takes 20% of her family's income. Subject to credit? Would it be good for the company to lend you credit?Can you help with question, In a minimum of 175 words. Many of us apply the time value of money in our personal lives – for example, when we invest dollars in a young child’s bank account earmarked for his or her eventual college education. Share an explanation of the time value of money in your own words. What criteria do accountants use to decide whether to use present or future values in accounting statements?Anthony Clement is applying for a car loan. The lending institution requires a personal net worth statement. Anthony currently has $1,085.00 in cash, and his camera is worth $635.00. He also owes Vista Travel $305.00 and Kelley Electronics $83.00. Complete a net worth statement for Anthony Clement. Select Current Date in the appropriate field. Assets should be listed in order of liquidity, so Cash should be listed first. Liabilities should be reported in alphabetic order.
- Your friends were excited to hear you have chosen accounting for a career. They have several practical questions regarding money and interest (time value of money). Please assist your friends by answering their respective questions. Document the “step-by-step” detail showing them how you solved the question. NOTE: To solve use one of the following: Include all the detail steps and formulas for EXCEL. Provide a one to three sentence written explanation to your friend explaining the basic time value of money concept(s) impacting the solution.Fill up the table below with your bookkeeping skills. The first one is already done for you. Copy the table 2: Mae's Bookkeeper and answer on a separate sheet of paper. income than before! She needs your help to monitor the day-to-day transactions and record them to her books. Help Mae monitor and record the transactions for the week. Monday: Bought 20 dresses at P500.00 each in account. voday: Borrowed cash loan from the bank for P9.000.00, Paid half of the dresses bought in account yesterday, Monday. Wednesday: Sold 15 dresses for P750.00 each in cash. Thursday: Bought store supplies for P5,000.00 in account. Friday: Sold five dresses for P800.00 each in account. Paid the remaining balance of the dresses bought in account last Monday. Saturday: Paid in full the store supplies bought in account. Sunday: Collected cash for the five dresses sold in account. Debit Credit Description Inventory Account payable Date P10,000.00 P10,000.00 Mondayi hope you will can solve it quickly Assume that you are going to start a Business after graduation. Describe 10 transactions that thebusiness might undertake by using your own idea with the following assumptions:• Started business with cash• Goods purchase for cash• Goods purchased on credit• Any asset purchased and paid cash• Any asset purchase on credit• Sold goods for cash• Sold goods on credit• Paid any bill• Paid salary to staff• Cash withdraw from business for personal useBased on your own 10 transactions, prepare:1. Accounting Equation2. Journal3. Ledger4. Trail Balance5. Financial statement
- Nicole’s Getaway Spa (NGS) continues to grow and develop. Nicole is now evaluating a computerized accounting system and needs your help in understanding how source documents informaccounting processes. She also needs some help reconciling NGS’s bank account.Required:1. For each source document shown below, prepare the appropriate journal entry or indicate thatno journal entry is required.a. Purchase order dated October 13 for massage chairs costing $765 and oil suppliescosting $240.You are tasked to manage your family’s financial resources. How would you practice money management? You may list down here the sources of your family’s income as well as the expenses incurred in one month. Then analyze and make some suggestions to improve your financial status.Lexi and Luke are sitting together, with their notebooks and textbooks open, at a coffee shop. They’ve been reviewing the latest lecture from Dr. Johnson’s financial management class by asking each other questions. Today’s topic addressed the calculation of future values for both simple and compound interest–earning accounts. Complete the missing information in the conversation that follows. Round your final answer to all computations to two decimal places. However, if you compute any interest factors as an intermediate step in your calculations, round them to four decimal places. LEXI: So, why is it important to be able to calculate the future value of some amount invested? LUKE: First, remember that the amount invested is usually called , and the amount earned during the investment period is called . It is important to be able to calculate a future value so that you can know in advance what a given amount of principal will be worth after earning a specified for…
- Create journal entries for sage 50. ? 1.The owner Jasmine, had the bank transfer (by the bank memo) $20000 from the personal savings account to the business bank account to start the business. 2. Negotiated a 5-year bank loan of $40000 at an annual interest rate of 9.50% with Loyal Bank. The money was deposited in the bank account today. 3.Received invoice 402 for $1200 plus HST from Captain Insurance, for a one-year business Insurance Policy, commencing Aug 1, 2018. Issued cheque #1001 to pay this invoice.On June 1, 2021, Alan Harper buys a copier machine for his business and finances this purchase with cash and a note. When journalizing this transaction, he will a .make a compound entry. b make a simple entry. c use two journal entries. d list the credit entries first, which is proper form for this type of transaction.fter researching the different forms of business organization. Lily Koebel decides to operate "Cookie Creations" as a proprietorship. he then starts the process of getting the business running. In November 2021, the following activities take place. Nov. 8 8 11 13 14 (a) 16 17 20 25 30 Lily cashes her U.S. Savings Bonds and receives $540, which she deposits in her personal bank account. She opens a bank account under the name "Cookie Creations" and transfers $520 from her personal account to the new account. Lily pays $70 for advertising. She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $130 cash. (Hint: Use Supplies account.) Lily starts to gather some baking equipment to take with her when teaching the cookie classes. She has an excellent top- of-the-line food processor and mixer that originally cost her $780. Lily decides to start using it only in her new business. She estimates that the equipment is currently worth $310. She invests the equipment in…