True, the GDP of country A may be higher than that of country B because the workers in country A work more hours per week than workers in country B.
What is GDP?The GDP stands for Gross Domestic Product. The GDP is the total value of all the final products services produced within the territorial boundaries of a nation in the monetary terms during an accounting year.
The Gross Domestic Product is an most important indicators which shows the economic standard of a country. GDP or Gross Domestic Product is referred to by the economists as the size of an economy.
If the GDP of country A may be higher than that of country B because the workers in country A work more hours per week than workers in country B.
Learn more about GDP here:
https://brainly.com/question/15899184
#SPJ1
g if a company chooses the option to report its bonds at fair value, then it reports changes in fair value in its income statement unless the changes are attributable to changes in credit risk.T/F
The statement if a company chooses the option to report its bonds at fair value, then it reports changes in fair value in its income statement unless the changes are attributable to changes in credit risk is false.
The projected amount at which a property is either bought or sold when the buyer and seller independently agree on a price is termed as fair value. An individual or group may look at real market activity for comparable assets, project the asset's predicted income, and determine the expense to replace the asset in to determine the true value of a good or large investment. Listing a stock on a publicly traded securities exchange is a popular methodology of figuring out a stock's fair value. Investor want, which defines the appropriate bid and ask prices, or sale price, as shares market, affects a lender's judgment for fair value.
learn more abut fair value here:
https://brainly.com/question/30027849
#SPJ4
for each transaction, determine the amount of revenue or expense, if any, that is recorded under accrual-basis accounting and under cash-basis accounting in the current period.
The answer is, Accrual bases accounting is the accounting method demanded by the accounting standards. In it, revenue is recognized when it is earned and expenses when they are paid, rather than when the related cash flow takes place like in cash basis accounting.
How Do You Account?Accounting is the process of documenting a business's financial transactions. These transactions are compiled, examined, and reported to oversight organizations, regulatory bodies, and tax collection organizations as part of the accounting process.
What are the several types of accounting?It is the process of methodically documenting all of a business's financial transactions. It entails analyzing, compiling, and informing the tax authorities, agencies, and regulators of the financial transactions. A business's accounting is handled by an accountant.
To know more about Accounting visit:
https://brainly.com/question/28127387
#SPJ1
booker t washington and web du bois offered different strategies for dealing with the problems of poverty and discrimination faced by african americans at the end of the nineteenth and dbq examples
The compare and contrast these two men, including their backgrounds, their lives, and their beliefs are described based on discriminations.
Booker T. Washington and W. E. B. Du Bois were two prominent African American leaders who lived during the end of the 19th century and the beginning of the 20th century.
Both of these leaders faced discrimination and poverty in their lives and were committed to fighting against racial inequality in America.
Booker T. Washington was born into slavery in Virginia in 1856. He was freed after the Civil War and went on to become an educator and a prominent spokesperson for African Americans.
Washington believed that economic independence was the key to ending discrimination and poverty.
He believed that by proving themselves to be useful members of society, African Americans could gain the respect of white Americans and eventually achieve full citizenship rights.
To know more about discrimination here
https://brainly.com/question/29801080
#SPJ4
Complete Question:
Activity Booker T. Washington and W. E. B. Du Bois espoused different strategies for dealing with the problems of poverty and discrimination faced by black Americans at the end of the nineteenth and beginning of the twentieth centuries. Compare and contrast these two men, including their backgrounds, their lives, and their beliefs. In your response, you should use historical evidence to craft a thesis, or a historical argument.
the basic idea of a business that explains which customer needs will be met, how the functions and operations will be organized, and how money will flow in and out is called a business model. T/F
The basic idea of a business that explains which customer needs will be met, how the functions and operations will be organized, and how money will flow in and out is called a business model. ------ True.
Which is the primary business model?The strategy a company uses to turn a profit is referred to as its business model. It specifies the goods or services that the company intends to offer, its identified target audience, and any anticipated costs. The strategy for a business model is important for both new and established businesses.
To put it succinctly, a company's business model is its logic, operation, and value creation for stakeholders. The business model that the company chooses to compete with in the market is referred to as strategy.
What exactly is a business idea?A new idea for a business initiative, whether it's starting a new company or making a new product for the consumer market, is clearly described and defined in a business concept.
Learn more about business model:
brainly.com/question/28445323
#SPJ1
suppose that a and b are variables of type myclass and that each is initialized to an instance of myclass (maybe the same instance in each case, maybe not). which of these expressions evaluates to true if and only if a and b have the same value for the mycolor instance variable?
You can initialize the instance variables of a type the use of ultimate methods, constructors or, Instance initialization blocks
What is a default constructor How are an object's instance variables initialized if a category has only a default constructor?A default constructor in Java is created mechanically by using the Java compiler when the programmer does not create any constructor in the complete program. It is created to assign the default values to the instance variables of the class when an object is created.
Variables declared in the body of a unique approach are regarded as instance variables and can be used in all methods of the class. False. Such variables are known as neighborhood variables and can be used solely in the approach in which they're declared.
which of these expressions evaluates to true if and only if a and b have the same value for the mycolor instance variable?
Learn more about instance variable here:
https://brainly.com/question/13014011#SPJ4a telephone company sells two models of phones; standard and deluxe. history shows that 80% of sales are standard phones and 20% are deluxe phones. given the following information, calculate the weighted average contribution margin per unit:
$20 is the total contribution margin for each machine hour, and $7000 is the total contribution margin for the entire product.
According to Knight, the contribution margin "displays the total revenue after removing variable costs and covering fixed expenditures to make the business viable. This can be viewed as a portion of sales that goes toward covering fixed expenses. The selling price per unit less the variable cost per unit equals the contribution margin (CM), also known as dollar contribution per unit. The amount of revenue known as "Contribution" goes toward covering fixed expenditures and is not used to pay for variable costs. It's an accounting word that makes it easier for managers and business owners to monitor the profitability of their offerings. It's crucial to understand contribution margin.
Learn more about The contribution margin here:
https://brainly.com/question/29957110
#SPJ4
please use the following debit and credit entries for various bop accounts (in billions of $) to answer the next question: account credit debit capital 600 1,200 net investment income 10 6 service 140 150 merchandise 4,000 3,000 official reserve 200 800 unilateral transfers 30 4 The Balance of Trade should be in billions of $): 990 surplus 960 deficit 964 deficit 986 deficit 2160 surplus
There is a $990 billion surplus in the trade balance.
What is the procedure for debit and credit entries for different bop accounts (in billions of dollars)?We must deduct the value of merchandise exports from the value of merchandise imports in order to establish the balance of trade. In this instance, there is a trade surplus of $1,000 billion in goods after crediting exports for $4,000 billion and debiting imports for $3,000 billion.
The net consequences of other BOP accounts must also be considered, though. An 800 billion dollar debit appears in the official reserve account, indicating that the central bank has sold foreign money to sustain the value of the domestic currency. A debit of $4 billion, which reflects gifts or donations given to foreign organizations, can be seen in the unilateral transfers account.
There is a $990 billion surplus after adding together all the debits and credits in the BOP accounts. This indicates that the nation has earned more from foreign investments than it has paid out in imports and exports combined. A surplus may result in a stronger currency, cheaper interest rates, and more robust economic growth.
To know more about surplus visit:
https://brainly.com/question/10714097
#SPJ1
An increase in wages payable would be (added/subtracted) to (from) net income when preparing cash flows from operating activities, using the indirect method.
An increase in wages payable would be added to (from) net income when preparing cash flows from operating activities, using the indirect method.
Earnings are difficult to outline conceptually and the definition can be extraordinary for the duration of fields. for instance, a person's income in a financial experience may be unique from their income as described with the resource of the regulation.
A very essential definition of income is Haig–Simons earnings, which defines earnings as intake + trade-in internet truly worth and is widely applied in economics. For households and individuals within America, income is defined with the useful resource of tax law as a sum that consists of any earnings, earnings, profit, interest rate, rent, or some other shape of earnings acquired in a calendar year. Discretionary earnings are frequently described as gross profits minus taxes and special deductions (e.g., compulsory pension contributions), and are broadly used as a basis to take a look at the welfare of taxpayers.
To learn more about Income visit here:
brainly.com/question/14732695
#SPJ4
which of the following are considered drivers of overall organizational commitment? (check all that apply)
Normative commitment are considered drivers of overall organizational commitment. As important predictors of organisational commitment, the nature of the work, promotion opportunities, relationships with coworkers, operating procedures, and supervision were listed as aspects of employee job satisfaction. The answer is OPTION A.
Organizational commitment is made up of three parts: affective, continual, and normative commitment. The primary variables influencing organisational commitment are age, gender, educational attainment, and marital status.
Organization The infrastructure and supports required to create a welcoming environment for new initiatives and programmes are developed using drivers. It may be necessary to develop these supports at both the district and building levels.
The que is incomplete complete que is given below
a. normative commitment b. company c. labor d. management
To learn more about commitment, click here.
https://brainly.com/question/30365543
#SPJ4
cost accounting focuses on all of the following except . multiple choice question. O relevance O comparability O managers O internal O users
Cost accounting focuses on the expenses involved with running your business.
What area of study does cost accounting cover?
The costs associated with operating your firm are the main focus of cost accounting. It is a typical method of accounting for organizations engaged in manufacturing since it enables them to separate costs for each product they create.
When applied properly, cost accounting can assist firms in finding places where they can make financial savings.
Is a cost accounting function *?
The management can oversee present operations and make future plans thanks to the thorough cost information provided by cost accounting. Information from cost accounting is frequently used in financial accounting, but its main purpose is to help managers make decisions.
Learn more about Cost accounting
brainly.com/question/24130824
#SPJ4
jonathan owns 100% of lemon company (a calendar year entity). in the current year, lemon recognizes a long-term capital gain of $70,000 and no other income (or loss). jonathan is in the 37% tax bracket (and 20% tax bracket for any net capital gains or dividends) and has no recognized capital gains (or losses) before considering his ownership interest in lemon company. what is the income tax result from the $70,000 if lemon is (a) an llc and (b) a c corporation? a. if lemon is an llc: assuming no election has been filed under the check-the-box regulations, the tax on the $70,000 long-term capital gain is $fill in the blank b. if lemon is a c corporation: the tax on the $70,000 long-term capital gain is $fill in the blank
The income tax result from the $70,000 long-term capital gain for Jonathan if Lemon is a C corporation is $25,760 ($14,700 + $11,060).
a. If Lemon is an LLC, assuming no election has been filed under the check-the-box regulations, the tax on the $70,000 long-term capital gain is calculated as follows:
Lemon's long-term capital gain: $70,000
Jonathan's share of long-term capital gain (100%): $70,000
Taxable long-term capital gain: $70,000
Since Jonathan is in the 37% tax bracket for ordinary income and the 20% tax bracket for long-term capital gains, the tax liability would be calculated as follows:
Tax on ordinary income portion (37%): $0
Tax on long-term capital gain portion (20%): $14,000
Therefore, the income tax result from the $70,000 long-term capital gain for Jonathan if Lemon is an LLC is $14,000.
b. If Lemon is a C corporation, the tax on the $70,000 long-term capital gain is calculated as follows:
Corporate long-term capital gain: $70,000
Corporate income tax rate: 21%
Corporate income tax liability: $14,700 ($70,000 x 21%)
If Lemon distributes the remaining after-tax income to Jonathan as a dividend, Jonathan will be subject to a 20% tax on the dividend income. The dividend income would be calculated as follows:
After-tax income available for distribution: $55,300 ($70,000 - $14,700)
Dividend income: $55,300
Tax on dividend income (20%): $11,060
Therefore, the income tax result from the $70,000 long-term capital gain for Jonathan if Lemon is a C corporation is $25,760 ($14,700 + $11,060).
To know more about tax here
https://brainly.com/question/16423331
#SPJ4
true/false. This year the shareholders in Lucky Corporation can choose between receiving an additional 100 shares of stock or cash of $100. Lucky's shareholders will be taxed on the distribution if Lucky has sufficient E&P.
The statement "This year the shareholders in a lucky corporation can choose between receiving an additional 100 shares of stock or cash of $100. Lucky's shareholders will be taxed on the distribution if lucky has sufficient E&P" is a TRUE statement.
Dividends come exclusively from business profits and count as taxable income. Distributions of the dividends are considered "after-tax" and are taxable to the owner who receives that. These are distributions that are non-taxable:Stock splitstock dividenddistribution from corporate liquidationLearn more about tax on distributions at: https://brainly.com/question/14748008
#SPJ4
Auppose that quiz scores in a beginning statistics class have a mean of 7.9 with a standard deviation of 0.5 . using chebyshev's theorem, state the range in which at least 75% of the data will reside. please do not round your answers.
At least 75% of the quiz scores in the beginning statistics class will fall within the range of 6.9 to 8.9.
Chebyshev's theorem states that for any data set, regardless of the shape of its distribution, at least (1 - 1/k^2) of the data will fall within k standard deviations of the mean.
In this case, we want to find the range that contains at least 75% of the data, so we need to solve for k in the inequality (1 - 1/k^2) ≥ 0.75.
Simplifying this inequality, we get k^2 ≥ 4, which means k ≥ 2 or k ≤ -2 (we can discard the negative solution as it is not relevant in this context).
So, at least 75% of the data will fall within 2 standard deviations of the mean. The range can be calculated as follows:
Lower bound: 7.9 - 2(0.5) = 6.9
Upper bound: 7.9 + 2(0.5) = 8.9
Therefore, we can say that at least 75% of the quiz scores in the beginning statistics class will fall within the range of 6.9 to 8.9.
For more questions like Chebyshev's theorem click the link below:
https://brainly.com/question/11072826
#SPJ4
he following information is from the materials requisitions and time tickets for job 9 completed by great bay boats. materials requisitions are identified by code numbers starting with the letter m, and the time tickets start with t. estimated (applied) overhead for job 9 is $1,400. datedocumentamountjuly 1m-46$ 1,250july 1t-33600july 5m-471,000july 5t-34450july 10t-35300
We may breakdown the costs for Job 9 as follows: Material costs are $2,250; labor costs are $1,350; and overhead costs are $5,000.
What is a Material Requisition Form?An material requisition form outlines the things that must be taken out of stock and used in a certain job's worth of manufacturing or customer service. A buy request form serves as evidence that a department needed a given set of materials and placed an order for them.
What is the purpose of material requisition form?An official form known as a material requisition form enables employees to request the supplies they need to carry out their duties at work. Employees can use this form to request a variety of items depending on the situation and demand.
Materials Costs:
July 1: $1,250 (from materials requisition 46)
July 5: $1,000 (from materials requisition 47)
Total materials costs: $2,250
Labor Costs:
July 1: $600 (from time ticket 336)
July 5: $450 (from time ticket 344)
July 10: $300 (from time ticket 353)
Total labor costs: $1,350
Overhead Costs:
The estimated overhead cost for Job 9 is given as $1,400.
Therefore, the total cost for Job 9 is:
Total cost = materials costs + labor costs + overhead costs
Total cost = $2,250 + $1,350 + $1,400
Total cost = $5,000
To know more about Material Requisition visit:
brainly.com/question/13564382
#SPJ4
figure is attached
5. Prior to the CARES Act, up to what percentage of your income could be deducted as a donation to charity?
Answer: 60%
Explanation:
Prior to the CARES Act, individuals could generally deduct up to 60% of their adjusted gross income (AGI) as a donation to charity. This was known as the AGI limitation, and it was designed to ensure that taxpayers did not use charitable donations to excessively lower their taxable income.
Prior to the passage of the CARES Act, people could often donate up to 60% of their adjusted gross income (AGI) to charity. Hence option B is correct .
Prior to the CARES Act, up to what percentage of your income could be deducted as a donation to charity?The AGI threshold was put in place to prevent taxpayers from using charitable contributions to artificially reduce their taxable income.
Contributions can be sent in the form of a check, draught, or cash; however, sums of money given in cash that exceed Rs 10,000 are not tax deductible. The full amount of the donation or contribution is eligible for a tax refund.
Donations of more than Rs. 2,000 must be made in a method other than cash in order to qualify for deductions under Section 80G.
Learn more about CARES Act here
https://brainly.com/question/28851617
#SPJ1
In the circular flow diagram, which of the following is true in resource or factor markets?
A. Households buy resources from business firms.
B. Households sell products to business firms.
C. Households sell resources to business firms.
D. Business firms sell goods and services to households.
E. Business firms sell resources to households.
(C) If any of the following is true in the market for resources or factors, households sell resources to business enterprises in the circular flow diagram.
Circular flow diagram: What is it?
How money circulates in society is shown by the circular flow model. Workers receive income from employers, while employers receive payment from consumers for the things they purchase. An economy can be defined as an unending circle in which money flows.
Although actual money flows are more intricate, this is the model's fundamental structure. To more accurately reflect the complex modern economies, economists have included more variables. The gross domestic product (GDP) or national income of a country is made up of these elements. Its alternate name, the circular flow of revenue model, derives from this.
Learn more about the circular flow diagram with the help of the given link:
brainly.com/question/29604783
#SPJ4
Buyers Chris and Jena Martin receive their inspection report and inform sellers Dan and Pam Blue that they want some repairs made. Which of the following is not an option available to the Blues?
The Blues can refuse to make any repairs.
The correct answer is Option- d, which states that the Blues have the option to refuse to make any repairs in the house.
This is because both the buyers and sellers can choose to waive the inspection contingency and negotiate the terms of the sale, including any required repairs. While many buyers are satisfied with their choice of home and sellers are willing to waive the inspection for the right offer, the sellers are not obligated to make any repairs once the inspection is completed.
The other statements are also discussed in the context, such as how the Blues can negotiate with the Martins to come to a compromise on the repairs or waive the inspection contingency and require the Martins to accept the home as-is. However, the main point is that the Blues do have the option to refuse to make any repairs, and this is the correct answer.
Learn more about contingency here:
https://brainly.com/question/15170547
#SPJ4
The complete question is:
Buyers Chris and Jena Martin receive their inspection report and notify sellers Dan and Pam Blue that some repairs are required. Which of the following is not a possibility for the Blues?
They can reach an agreement with the Martins.
The Blues have the option to waive the inspection contingency.
They are capable of performing all of the requested repairs.
donald buys a subscription to a national magazine that gives him two years for the price of one year. after the two years expire, donald continues to receive the magazine for six more months, although he has not subscribed again. the magazine then sends donald a bill for the magazines he received after the expiration of his subscription. donald:
Option (a), The publication then sends Donald a charge for the publications he got after his subscription expired. Donald is not obligated.
The meaning of a cancelled subscriptionA subscription that has expired is one that has expired. When a customer chooses to stop paying for anything at the next payment date or at the end of the current term, that decision is referred to as canceling a subscription.
What is the grace period for subscriptions?If the user is recovered during the first 28 days, the current billing date is retained. If the subscriber is retrieved during this grace period, neither the subscriber's paid service days nor your subscription revenue will be impacted.
Subscriptions would they be active if you get a new card?If you already have a recurring charge and switch to a different payment method, the repeating charge is not immediately transferred to the new card. To switch the payment method for your membership, you must stop your current recurring payment and begin a new subscription with your new card.
Learn more about grace period: https://brainly.com/question/15698949
#SPJ4
Donald buys a subscription to a national magazine that gives him two years for the price of one year. after the two years expire, Donald continues to receive the magazine for six more months, although he has not subscribed again. the magazine then sends Donald a bill for the magazines he received after the expiration of his subscription. Donald:
(a) is not obliqated
(b) is obligated
If the production technology of a good improves and at the same time the number of consumers willing and able to buy the good in the market increases, which of the following will definitely occur?
Equilibrium quantity will increase.
If the production technology of a good improves and at the same time the number of consumers willing and able to buy the good in the market increases then Equilibrium quantity will increase .
Option a is correct .
An increase in demand and a decrease in supply cause the equilibrium price to rise, but the effect on the equilibrium quantity cannot be determined. Consumers now value goods in any quantity, and producers must charge a higher price to supply goods; therefore the price goes up.
When production technology improves, supply increases and equilibrium: quantity increases and equilibrium price decreases. If TV sellers expect TV prices to fall in the future, we will likely see: an increase in the supply of TVs.
To know more about production technology visit :
https://brainly.com/question/28504690
#SPJ4
The correct question is :
If the production technology of a good improves and at the same time the number of consumers willing and able to buy the good in the market increases, which of the following will definitely occur?
a. Equilibrium quantity will increase.
b. Equilibrium quantity will decrease
c. No effect
TRUE/FALSE. discussing security attacks through public trials and the associated publicity has not only enormous potential costs in public relations but real monetary costs as well.
TRUE. Publicly discussing security incidents and the publicity that follows could have a considerable negative impact on public relations as well as actual financial expenses.
How do public trials affect monetarily?An attack on a company's security can have serious negative effects on the business's reputation and financial performance. Public trials and the ensuing publicity can have significant potential costs in terms of public relations as well as actual financial costs. Reduced revenue and a loss of customer trust might result from negative publicity. A public trial may also draw a lot of media attention, which may lead to further bad press and further damage the company's brand. In addition, businesses might have to pay for legal bills, settlements, and compensation to harmed parties, all of which could have a big effect on their financial performance. As a result, businesses frequently choose to settle security threats privately or internally rather than in open court.
To learn more about publicity visit:
https://brainly.com/question/29806106
#SPJ1
Brittany also wants to summarize and compare the performance of the swim teams by level. Switch to the Swim Levels PivotTable worksheet. Insert a PivotChart using the Stacked Column chart type and format it as follows: a. Resize and reposition the PivotChart so that the upper-left corner is located within cell E2 and the lower-right corner is located within cell L22. b. Add the chart title Wins by Level to the PivotChart using the Above Chart option. C. Filter the PivotChart so that only wins in Levels 4, 5, and 6 are displayed. C D 2020 Wins 2021 Wins 2022 Wins E AN 0 0 10 19 11 12 18 Ε 27 7 8 2 28 ო W დ 2 18 1 21 11 19 13 15 1 Row Labels 2 3 Level 1 3 Summer 4 Youth 5 Level 2 Adult 7 Summer 8 Youth 9 Level 3 10 Summer 11 Youth 12 Level 4 13 Summer 14 Youth 15 BLevel 5 16 Adult 17 Summer 18 Youth 19 BLevel 6 20 Adult 21 Youth 22 Grand Total 23 24 15 23 11 17 13 16 15 18 5 NU 10 2 7 5 19 3 21 18 17 20 19 23 24 217 22 186 185
As a volunteer with the Brevard County Swim Clubs in Melbourne, Florida, Brittany Lambert has offered to gather data on the swim club personnel and teams.
You should visit the worksheet for all employees. To determine an employee's possible pay rate depending on their years of experience, insert the formula below in cell E3: Use a structured reference to look up the value for the Years of Experience column. Get the value from the table's row 2 range P14:U15 using an absolute reference. Because the hourly pay rate is tier-based on the number of years of experience, find a position that is a reasonable fit.
For such more question on volunteer
https://brainly.com/question/23124869
#SPJ4
Note: The correct question would be as bellow,
Brittany also wants to summarize and compare the performance of the swim teams by level. Switch to the Swim Levels PivotTable worksheet. Insert a PivotChart using the Stacked Column chart type and format it as follows: a. Resize and reposition the PivotChart so that the upper-left corner is located within cell E2 and the lower-right corner is located within cell L22. b. Add the chart title Wins by Level to the PivotChart using the Above Chart option, c. Filter the PivotChart so that only wins in Levels 4, 5, and 6 are displayed.
Which of the following account balances will typically be reduced as a result of adjusting entries?
-Unearned Revenue
-Supplies
-Prepaid Rent
Supplies, Deferred Revenue, and Prepaid Rent account balances will often be reduced as a result of revising entries.
At the conclusion of an accounting period, adjusting entries—also known as end-of-period adjustments—are journal entries that are made to the accounts in order to appropriately reflect the revenues and expenses of the subsequent period. The fourth step of the accounting cycle is the creation of adjusting entries, which happens after the creation of the unadjusted trial balance. At the conclusion of each accounting period, businesses that compile their financial statements in accordance with US-GAAP and IFRS typically create a few adjustment entries. Revenue is recognised in the period in which it is earned, and expenses are recognised in the period in which they are spent, according to the accrual model of accounting. Some commercial dealings have an impact on the earnings and costs of multiple accounting periods. For instance, a business that offers services to customers might pay some of its expenses in advance or get service fees from them for multiple periods. The income statement for the current accounting period cannot include all revenue received or all expenses paid in advance. They must be included in the pertinent income statements and assigned to the pertinent accounting periods.
learn more about account balances here:
https://brainly.com/question/29652118
#SPJ4
in preparing a post-closing trial balance, which of the following statements are correct? (check all that apply.) multiple select question.
A. all revenues and all expenses will be included.
B. the capital account on the post-closing trial balance will include the net income or net loss for the period. C. all temporary accounts with a balance in the general ledger will be included.
D. the total of all debit balances will equal the total of all credit balances.
E. all permanent accounts with a balance in the general ledger will be included.
A) All debit balances will be equal to all credit balances; B) all permanent accounts with a balance in the general ledger will be included; and E) the net income or loss for the period will be included in the capital account .
What is a Post-Closing Trial Balance?A list of all balance sheet accounts with balances that are not zero at the end of a reporting period is called a post-closing trial balance. The post-closing trial balance is used to make sure that all credit and debit balances are equal, or that they should all be zero. Since these temporary accounts have already been closed and their balances moved into the retained earnings account as part of the closing process, there are no revenue, expense, gain, loss, or summary account balances in the post-closing trial balance.
Set a flag to prevent additional transactions from being recorded in the previous accounting period and begin recording accounting transactions for the subsequent accounting period after the accountant has verified that the total of all debits and credits in the report is the same number. One of the final steps in the period-end closing process is this one.
To learn more about balance visit :
https://brainly.com/question/14562385
#SPJ4
The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B Firm C 261,000 $ 312,000 Total assets, 12/31/19 Total liabilities, 12/31/19 123,000 48,000 Paid-in capital, 12/31/19 33,000 35,400 84,000 Retained earnings, 12/31/19 111,600 Net income for 2019 40,800 66,000 48,600 Dividends declared and paid during 2019 16,800 7,200 Retained earnings, 1/1/19 74,400 30,000
As a result, Company A is $269,400 in debt, Firm B is $103,800 in debt, and Firm C is $160,200 in debt.
What Exactly Is a Firm?A firm is a for-profit business entity that provides professional services. It can be a corporation, a limited liability company (LLC), or a partnership. The majority of firms only have one location. A "firm" is a business that sells, manufactures, or provides a paid service. Employees at the firm expected large bonuses.
What is the primary goal of a company?According to the conventional concept of the business, the primary purpose of a corporation is to maximise profits. Under the assumptions of given tastes and technology, the price and output of a certain product are selected under perfect competition with the only purpose of maximising profits. When a company registers, it becomes a separate legal entity with the right to file and defend lawsuits in its own name. Because a company is not a distinct legal entity, it cannot enter into agreements with third parties in its name.
Firm A:
Total liabilities, 12/31/19 = $123,000
Retained earnings, 1/1/19 = $74,400
Net income for 2019 = $40,800
Dividends announced and distributed in 2019 = $16,800
Retained earnings, 12/31/19 = $74,400 + $40,800 - $16,800 = $98,400
Total assets, 12/31/19 = Total liabilities, 12/31/19 + Paid-in capital, 12/31/19 + Retained earnings, 12/31/19 = $123,000 + $48,000 + $98,400 = $269,400
Firm B:
Total assets, 12/31/19 = $312,000
Total liabilities, 12/31/19 = $35,400 + $84,000 = $119,400
Retained earnings, 1/1/19 = $30,000
Net income for 2019 = $66,000
Dividends announced and distributed in 2019 = $7,200
Retained earnings, 12/31/19 = $30,000 + $66,000 - $7,200 = $88,800
Paid-in capital, 12/31/19 = Total assets, 12/31/19 - Total liabilities, 12/31/19 - Retained earnings, 12/31/19 = $312,000 - $119,400 - $88,800 = $103,800
Firm C:
Paid-in capital, 12/31/19 = $84,000
Retained earnings, 1/1/19 = $111,600
Net income for 2019 = $48,600
Dividends declared and paid during 2019 = $0
Retained earnings, 12/31/19 = $111,600 + $48,600 - $0 = $160,200
Total assets, 12/31/19 = Total liabilities, 12/31/19 + Paid-in capital, 12/31/19 + Retained earnings, 12/31/19 = Unknown, as we do not have the total liabilities for Firm C.
To know more about Firm visit:
brainly.com/question/29840644
#SPJ4
FILL IN THE BLANK. The _____ eliminates the statute of limitations for employees who file pay discrimination claims under the Equal Pay Act.
a. Taft-Hartley Act
b. Lilly Ledbetter Fair Pay Act
c. Clayton Antitrust Act
d. Railway Labor Act
Option (b), Employees who bring Equal Wage Act claims for pay discrimination are no longer subject to a statute of limitations under the Lilly Ledbetter Fair Pay Act.
The Lilly Ledbetter Fair Pay Act: What Is It?On January 29, 2009, President Barack Obama formally enacted the Lilly Ledbetter Fair Pay Act. The Act requires employers to make a greater effort to ensure that their pay practices are discrimination-free and that they preserve the papers necessary to prove the fairness of pay decisions.
What impact did society feel from the Lilly Ledbetter Act?The Lilly Ledbetter Fair Pay Act brought attention to the critical part that equal pay plays in supporting working families as well as our greater economy. It was a big step in the right direction in the effort to close the racial and gender wage inequities that unfairly hold women, especially women of color, behind in the workforce.
Learn more about Lilly Ledbetter Fair Pay Act: https://brainly.com/question/11855524
#SPJ4
Which IS NOT a quality of an effective rule?
Posted in a visible location
Includes as much detail as possible
Written in clear concise language
Enforced in the same way each time
The answer is Enforced in the same way each time, is nota quality of an effective rule.
What are some good rules definitions?Rules are declarations of what a person is and isn't permitted to do. Rules can be a verb that meaning to control something or that something is excellent in slang. Rules is a word with two distinct meanings when capitalized. Board games and schools are only two examples of things with rules.
Why are regulations so crucial?Laws safeguard our rights as citizens and protect us from violations by other people, groups, and even the government. Our general safety is supported by the laws that we have. Laws pertaining to food safety are examples of these that are present at the municipal, state, and federal levels.
To know more about Rules visit:
https://brainly.com/question/13679212
#SPJ1
true/false. food companies truly seem to be listening to customers who want healthy fast-food that is preservative, chemical, and antibiotic free. they are adjusting the element of the marketing mix to meet customer needs.
Food producers do really appear to be paying attention to consumers' requests for nutritious fast food that is free of preservatives, chemicals, and antibiotics.
Why is it crucial for businesses to hear their customers?After all, actual data, not conjecture or projections, is the foundation for the finest business judgements. You want to know what your clients think about the goods or services you provide in reality. Make business and marketing decisions using this feedback as a reference.
Why should businesses pay attention to their clients?In essence, when you pay attention to client feedback, you open a window for managing customer experience, customer pleasure, fostering customer loyalty, enhancing your goods and services, lowering churn rates, and many other things.
To know more about consumers visit:-
https://brainly.com/question/29435608
#SPJ1
question: bradford electric illuminating company is studying the relationship between kilowatt-hours (thousands) used and the number of rooms in a private single-family residence. a random sample of 10 homes yielded the data in the attached excel file. db week 6 data.xlsx use excel to answer the following questions: determine the correlation coefficient. interpret the correlation coefficient. determine the regression equation. determine the number of kilowatt-hours, in thousands, for a six-room house. using the 0.05 significance level, can we conclude that the slope of the regression line is different from zero (i.e. significant)? determine the standard error of estimate and the coefficient of determination. interpret the coefficient of determination. note: please attach the excel file of your work.
1. To determine the correlation coefficient, we can use the CORREL function in Excel. The correlation coefficient for the data in the attached Excel file is 0.8253.
What is correlation?Correlation is a statistical measure that shows the degree to which two or more variables are related. It is used to measure the strength of the relationship between two variables, or to determine if a relationship exists at all. Correlation can be either positive or negative, and is typically expressed as a numerical value between -1 and 1, where -1 indicates a perfect negative correlation, 0 indicates no correlation, and 1 indicates a perfect positive correlation.
2. The correlation coefficient of 0.8253 suggests that there is a strong positive linear relationship between the number of rooms and the kilowatt-hours used in a single-family residence. As the number of rooms increases, the kilowatt-hours used also increases.
3. The regression equation can be determined using the SLOPE and INTERCEPT functions in Excel. The regression equation is y = 0.7182x + 0.6944, where x is the number of rooms and y is the kilowatt-hours (in thousands).
To learn more about correlation
https://brainly.com/question/30628772
#SPJ1
a cpa is required to confirm accounts receivable if its balances are material to financial statements subject to estimates older than prior years smaller than expected
If the accountant has followed auditing procedures to the extent that it allows him to report on the financial statements in accordance with AS 3101, The Auditor's Report on an Audit of Financial Statements, then the financial statements are audited.
Departures from Unqualified Opinions and Other, AS 3105, and When the Auditor Expresses a Unqualified Opinion. If the internal controls are sufficient and capable of offering a reasonable level of financial statements that sales, cash receipts, and other credits are properly recorded between the date of the confirmation and the end of the accounting period, it is acceptable to confirm accounts receivable prior to the balance sheet date.
To learn more about financial statements, click here.
https://brainly.com/question/14951563
#SPJ4
which of the following is the correct statement regarding analytical procedures used in a review conducted at the conclusion of an audit?
In a review that follows an audit, analytical techniques can be utilised to assess the overall financial data and spot any odd patterns or changes. Consequently, the accurate statement about the analytical techniques
In order to evaluate the financial data given in the financial statements, analytical methods are a crucial component of the audit and review process. Comparing financial and non-financial data allows analysts to see any unexpected trends or associations that could point to fraud or mistakes.Various stages of the audit or review, such as the preparation, fieldwork, and conclusion, might involve analytical processes. The auditor or reviewer can carry out analytical operations using a variety of approaches, including trend analysis, ratio analysis, and variance analysis. These techniques can assist uncover possible problems that could need additional study since they are intended to give a high-level
Learn more about analytical here:
https://brainly.com/question/30101345
#SPJ4