For the exercises below, create the double-entry system according to the accounts involved. Think carefully and analyze each exercise. 1. John is the owner of a fast food restaurant. He buys $50 of potatoes from his supplier. What are the accounts involved? (Use the double-entry system) 2. Peter is the owner of a furniture store. He sales $1200 worth of furniture to a customer. What are the accounts involved? (Use the double-entry system) 3. Mary is the owner of a toy store. She has a loan from the bank. The amount of the loan is $3000. This month Mary pays $200 for the monthly fee to the bank. What are the accounts involved? (Use the double-entry system) 4. Anna is the owner of a pizza restaurant. She uses her personal savings ($4500) to buy an oven. What are the accounts involved? (Use the double-entry system) 5. David is the owner of a sandwich shop. He uses the money from the business ($2500) to buy a new refrigerator. What are the accounts involved? (Use the double-entry system) 6...
Advertisement Advertising is a form of communication that is sponsored and has a message promoting or selling or trying to sell a product or service or an idea. It is classified as a form of marketing communication. Types of advertising Online Advertising: Online advertising or digital advertising as a form in which the message is conveyed via the internet. For every website ads are a major source of revenue. Advertising online has become very popular in the last decade and has surpassed the expectations of most of the advertising experts. 60% revenue of Google is generated from ads and the same goes for Facebook . Online advertising has become so effective that a particular ad can be targeted to a specific person of specific age of a specific location on a specific time. In terms of pricing advertising online is very cheap compared to all other forms of advertising. The major disadvantage of online advertising...
ESTR – Ecuadorian Simplified Tax Regime (RISE – Régimen Impositivo Simplificado Ecuatoriano) According to the IRS, the ESTR is a new regime of volunteered incorporation, it replaces the value added tax and income tax through monthly payments and it is in favor of improving the tax culture in the country. What is it used for? The ESTR has two objectives, for the contributor it helps with the process of paying the taxes on time, and for the tax administration it helps to build a tax culture. This helps the population to be aware that the payment of taxes helps to distribute the wealth across the country. Among the main benefits of having the ESTR, according to the IRS, are the following: - There is no need for declarations, no cost of forms and the hire of third parties to fill them out - Avoid taxes retaining - Allows to...
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