Cash account? | Debit | | Credit | 0 out of 1 Incorrect. A debit to cash means a credit elsewhere. Question 3 of 20 ItsaMadWorld plc has a financial year end at 31 March 2008. Rates expenses are paid annually in arrears. The dates payments are made are 30 September 2008, £1,200 and 30 September 2009, £1,440. The following profit and loss charge will be shown in its accounts at 31 March 2009: | Expense £1,300 | | Expense £1,320 | | Expense £1,340 | | Expense £1,440 |
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currency reserves, debt, and risk. Learning Materials Open Economy Macroeconomics: Exchange Rates, Balance of Payments and Policy Exchange-Rate Systems With some notable exceptions, most countries in the world have their own currency. Consequently, foreign exchange markets have developed to allow individuals, businesses, governments and other institutions to be able to make payment and receive payment across borders. Each country decides on an exchange rate system, whether they will set their exchange
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(FMS), coupled with E-mail and mobile messaging technology. FMS for Maryhill High School will serve administrators with reports about students’ fees collection. It will also provide parents and guardians with reports about students’ invoices, payments and balances through E-mail and mobile messages. Background Maryhill High School is located at Nyamitanga hill, Mbarara district. At present, the school’s enrollment is at about 1500 students. The school generates revenue from students’ fees
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How to correct the Balance of Payment ? Solution to correct balance of payment disequilibrium lies in earning more foreign exchange through additional exports or reducing imports. Quantitative changes in exports and imports require policy changes. Such policy measures are in the form of monetary, fiscal and non-monetary measures. Monetary Measures for Correcting the BoP ↓ The monetary methods for correcting disequilibrium in the balance of payment are as follows :- 1. Deflation Deflation
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Financial Policy In an attempt to keep your medical cost for services to a minimum, we have adopted the following policy regarding payments and billing. If you do not have insurance coverage, payment will be due in full amount on the day the service is giving. Copayments and Deductibles You are expected to pay your copayments and deductibles at the time of service. All payments are required at the time of service unless other arrangements have been made in advance. Fairview Medical Associates accepts
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important role in the economic life of a business. A firm needs cash to make payment to its suppliers, to incur day-to-day expenses and to pay salaries, wages, interest and dividends etc. In fact, what blood is to a human body, cash is to a business enterprise. Thus, it is very essential for a business to maintain an adequate balance of cash. For example, a concern operates profitably but it does not have sufficient cash balance to 62 ACCOUNTANCY Cash Flow Statement pay dividends, what message
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that owns the asset is called the lessor. The other party in this agreement is the Lessee. The Lessee is the party which hires the asset which is leased. The asset is hired for a specified period of time. During this period, the Lessee makes rental payment to the lessor. After the lease period is over, the asset can be returned to the lessor. However, the asset can also be owned by the Lessee. The nature of ownership of the asset after the lease period is over depends on the initial details of the contract
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25 1 1. Catskills Corporation had the following items listed in its trial balance at 12/31/12: Currency and coins $650 Balance in checking account 2,600 Customer checks waiting to be deposited 1,200 Treasury bills, purchased on 11/1/12 mature on 4/30/13 3,000 Notes receivable due 6/30/13 10,200 Commercial paper, purchased on 11/1/12 mature on 1/30/13 5,000 What amount will Catskills include in its year-end balance sheet as cash and cash equivalents? a. $3,250 b. $4,450 c. $7,450. d. $9,450. e
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00493 I = $98.63 Payment = Principal – Interest $ 7,901.37 = 8,000 – 98.63 New Balance = Previous Balance – Principal payment $12, 098.63 = 20,000 – 7,901.37 To get the new principal, I need to go get the interest and the payment to get the new balance. b) 30 days after the first payment, you pay another $6000. What is your new principal? Explain how you got the answer you did. I=PRT I= 12,098.63 X 0.04 X 0.08219 I= 12,098.63 X 0.00329 I= 39.78 Payment = Principal – Interest
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indicates that your payment is past due. This notice is a friendly reminder that your payment was due on February 10, 2012 in the minimum amount of $50 dollars. If you have already sent us your payment, kindly disregard this letter. If not, please send us your payment promptly. Thank you. Sincerely, Ruth Hinojosa Ruth Hinojosa, credit manager May 15, 2012 Dear Mr. and Mrs. Salsman, On February 10, 2012 we notified you regarding your past due payment. According to
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