Answer:
Acme's current balance of accounts payable is $6000
Explanation:
The closing balance of accounts payable can be calculated using the opening balance and adjusting the changes during the period to the opening balance.
The closing balance can thus be calculated as:
Closing balance = Opening balance + Credit purchases - Payment to Accounts payable
Closing balance = 3000 + 4000 - 1000
Closing balance = $6000
Answer:
The statement best describes the role of a credit agency is "It tracks the use of credit for lenders"
Answer:
Marketing and distribution of a variety of products
Explanation:
Marketing refers to a business function whereby a marketer advertises and promotes goods and services with an objective to increase sales and at the same time ensure customer satisfaction. Marketing mix refers to essential marketing components for effective marketing.
Marketing mix comprises of product, place, price and promotion.
Distribution refers to activities which are aimed at making products available in the right markets at the right time and utilizes various channels of distributions such as retailers, wholesalers, intermediaries, etc.
In the given case, Starbucks, the renowned coffee maker, has formed alliances or collaborations so as to extend and strengthen their business. These strategic alliances help Starbucks create an effective distribution network and wide-reach marketing which subsequently helps in efficient operations and profitability.
The four 'Cs' of credit are : Character, Capacity or Cashflow, Capital and Conditions.
Out of the 4 'Cs' of credit, the two 'Cs' that deal with the earning potential and available cash are 'Capacity' and 'Capital'.
Capacity: It is the assessment the of the ability of any business to pay bills and maintain the cash flow. It contains in it the debt structure of the firm and the unused credit.
Capital: It is the assessment, if a company has the ability to pay back its creditors by the help of its financial resources or available cash.
Answer:
The first gap is for Debit
The second gap is for credit
Explanation:
In accounting, Debit side(Dr) is always on the left side and credit side(Cr) is always on the right side.
The table is usually like 'T'
Debit side increases asset and expenses while credit decreases assets and expenses.
Also, Debit side decreases liability, equity and revenue while credit increases liability, equity and revenue
