The basic purpose of preparing a trial balance is​

Answers

Answer 1

Answer:

The general purpose of producing a trial balance is to ensure the entries in a company's bookkeeping system are mathematically correct.

Answer 2
✏Answer ✏

The purpose of a trial balance is to ensure that all entries made into an organization's general ledger are properly balanced. A trial balance lists the ending balance in each general ledger account. The total dollar amount of the debits and credits in each accounting entry are supposed to match.

Explanation:

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Related Questions

You find the following corporate bond quotes. To calculate the number of years until maturity, assume that it is currently January 15, 2019. The bonds have a par value of $2,000 and semiannual coupons. Company (Ticker) Coupon Maturity Last Price Last Yield EST $ Vol (000’s) Xenon, Inc. (XIC) 7.10 Jan 15, 2042 94.387 ?57,379 Kenny Corp. (KCC) 7.29 Jan 15, 2039 ?6.36 48,958 Williams Co. (WICO) ?Jan 15, 2046 94.905 7.18 43,819 What is the yield to maturity for the bond issued by Xenon, Inc.? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Answers

The yield to maturity for the bond issued by Xenon, Inc. is 7.62%.

What is the yield to maturity for the bond issued by Xenon, Inc.?

The yield to maturity of a bond is the total return that would be earned if a bond is held to maturity.

The yield to maturity can be determined using a financial calculator:

Coupon = 7.1% = 0.071 x 2000 = $142Number of years = 2042 - 2019 = 23Price =0. 94387 x 2000 = 1,887.74Full price = 2000

YTM = 7.62%

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What's the present value, when interest rates are 8.0 percent, of a $130 payment made every year forever?

Answers

Answer:

help me with that as I try urs

In a traditional economy, which group is most responsible for producing the
goods people in society need?
A. Government agencies
B. Family members
C. Private businesses
D. International corporations

Answers

the answer is B. Family Members

company purchased $500 of office supplies on credit. Which of the following general journal entries will Company make to record this transaction?

Answers

Debit Office Supplies

Credit Accounts Payable

Which of the following is NOT an advantage of paying bills online?


A. The ability to pay bills while away from home on vacation.
B. You will only receive a record of your payment if you pay bills online.
C. If you pay a fee for every check you write, you save on bank fees.
D. You save the cost of postage associated with mailing checks.

Answers

Answer: you will only receive a record of your payment if you pay bills online

Explanation:

Aliya is a line supervisor in a denim apparel factory. Aliya has set a(n) ________ to reduce the time she spends training new workers. Multiple Choice

Answers

It should be noted that an operational goal has been set to reduce the time she spends training new workers.

What is training?

It should be noted that training is important in order to improve the skills of workers in organizations.

Since Aliya is a line supervisor in a denim apparel factory, she has set an operational goal to reduce the time she spends training new workers

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Steeler Corporation is planning to sell 100,000 units for $2.00 per unit and will break even at this level of sales. Fixed expenses will be $75,000. What are the company's variable expenses per unit? Group of answer choices $1.00 $1.10 $1.25 $0.75

Answers

The company's variable expenses per unit is 1.25

What is breakeven?

Breakeven is a point at which neither profit nor loss is made. It is used to determine the number of units or dollars of revenue needed to cover total costs.

Number of units to sell = 100,000

Price per unit = 2

Fixed expense = 75000

At break even point :

Revenue = total expenses

Total expenses

= fixed cost + variable cost

Let variable cost = x

Revenue

= units to sell * price per unit

Revenue

= 100,000 * 2

= 200,000

Hence,

Fixed cost + variable cost = Revenue

75000 + x = 200,000

x = 200, 000 - 75000

x = 125,000

Variable cost = 125,000

The variable expense per unit is thus :

Variable expense / number of units

= 125,000 / 100,000

= 1.25 per unit

Hence, the company's variable expenses per unit is 1.25

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3 Give ONE example of a income that is not tax​

Answers

Answer:

Inheritances, gifts and bequests.

Explanation:

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Is the second one correct (the answer I chose is in blue)

Answers

Yes you are correct that answer is right

Easy points

What are two of the most popular games of their genre like for example ( battle royale, Gacha, puzzle you catch my drift)? Also, list their sales il do one for you Gacha do the rest pls :)

Answers

Fortnight

Explanation:

It's just the best game, no explanation is needed.

it won't let me post this if i dont spell the game right

Im trying to say something and it says is is something bad but I’m not even doing nothing wrong

Describe the nature of a manufacturing businesses

Answers

Answer:

manufacturing business is any business that uses components, parts or raw materials to make a finished good. These finished goods can be sold directly to consumers or to other manufacturing businesses that use them for making a different product.

Your order is supposed to be
delivered between 5PM-
6PM. It's now 5:45PM and
you know you will be late
delivering the order. What
would you text the customer?

Answers

Answer:

ok first of all- nor sure what kinda question that is but something like "sorry I might be a little late due to traffic" or something like that

Explanation:

there is no explanation

If you lived in Japan, which city would you most like to visit to get the best buys for your
money?

Answers

Answer:

A big apartment

Explanation:

not too roomy and not too expensive

To be a high-performance team, a team:
A) needs to practice good communication
B) needs to give appropriate feedback to each other
C) should contain members with a variety of skills
D)must have a great leader
E) is accurately described by all of these

Answers

E it’s e I know because just trust me

To be a high-performance team, a team should practice good communication along with proper feedback and be a great leader. Thus the correct option is E.

What is Team?

When a group of people is structured and officially come together to achive a common objective by playing individual roles it is considered as a team.

A team is said to be high-performance when there is good communication established between them which helps them to exchange ideas, share views, and to resolve conflicts.

Good communication helps them to engage effectively and receive feedback from team members which helps them in bringing improvement and achieving growth.

A team should have a good leader who helps to provide appropriate direction and guidance whenever it is needed and encourage team members to gain skills.

Therefore, option E is appropriate.

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On July 1 of the current calendar year, Olive Company paid $8,200 cash for management services to be performed over a two-year period beginning July 1. The adjusting entry on December 31 of the current year for Olive would include:

Answers

Based on the amount paid by Olive Company for the two year period, the adjusting entry on December 31 would be a debit to an expense and a credit to prepaid expense for $2,050.

What would be the adjusting entry?

Based on the accrual method, only costs for the year can be recorded as expenses.

If any costs are for other periods, those costs would be credited to prepaid expenses.

The expense for this year for management services would be:

= Number of months from July to December x Amount paid / number of months in contract

= 6 months x 8,200 / 24 months

= $2,050

In conclusion, expenses will be debited $2,050.

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Which three research options are examples of credible resources that give business writers accurate information?
discussion boards on a university website
social media posts made by a university professor
ООООО
websites owned by commercial organizations
digital archives of US government agencies
websites that belong to nonprofit organizations

Answers

Because they have undergone peer review, scholarly journals, conference papers, and books are the most frequently used reputable sources. There are, however, reliable websites that can be used.

What do you mean by scholarly journals?

Faculty at the university level frequently demand or strongly advise using articles from scholarly publications, also known as peer-reviewed, academic, refereed, or professional journals, for use in producing research papers and projects.

This is crucial for high-caliber graduate work and is especially true for upper level courses. Scholarly journals can be identified by various features that set them apart from other periodicals: to disseminate the findings of recent research in the journal's area of study.

Scholarly publications demonstrate a methodical and in-depth investigation of a certain subject, frequently involving experiments or surveys.

Review papers that summarize the present state of knowledge on a subject may occasionally be published in scholarly publications.The advertisements, vibrant graphics, and photos that can be seen in popular periodicals are absent from scholarly journals.

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Loudon Company has the following unit costs: direct materials $6, direct labor $3, variable overhead $2, fixed overhead $1. Under absorption costing, total unit cost is:

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Based on the various costs incurred by Loudon Company, the total unit cost under absorption costing is $12.

What is the total cost?

Under absorption costing, the fixed costs are ascribed to the units produced as well as the variable costs.

The total unit cost here is therefore:

= Direct materials + Direct labor + Variable overhead + Fixed overhead

= 6 + 3 + 2 + 1

= $12

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What negative consequences can emerge when vision, mission, or values contradict strategy? Name a time where you believe strategy was not aligned with vision, mission, or values. How can leaders ensure that strategy matches the vision, mission, and values?

Answers

When the organizational vision, mission or values ​​contradict its strategy, conflict can occur between the direction of organizational actions and conflict between internal and external relationships.

An example that the strategy was not aligned with an organization's vision could be an organization that set out to reduce its impacts on the environment over a period of time, but did not take such action.

What is a company's mission and vision?

The mission corresponds to the reason a company exists, its purpose in the market, while the vision corresponds to the future planned for the company, that is, how it intends to develop to reach an end in a period of time.

Therefore, joining the values, mission and vision of a company must be aligned with its strategy, as they are capable of shaping the perception of stakeholders in a positive or negative way, as well as helping to guide towards an innovative and successful future.

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A stock has an expected return of 12.9 percent and a beta of 1.30, and the expected return on the market is 11.80 percent. What must the risk-free rate be

Answers

Answer:

really good song: heat waves by glass animals.[tex]\alpha \beta \pi \neq \leq \geq \alpha \pi \beta \alpha[/tex]

Explanation:

Explain all the reasons why a decrease in the price of a product would lead to an increase in purchases of the product?

Answers

Since it is cheaper many people would want to buy this product and it would make the company more money and more sails

Describe the threat that is reduced by comparing inventory quantities on the sales order to inventory available in stock.

Answers

Inventory is the quantity of a particular product that is available for sale. Inventory tracking can help you avoid selling products that have run out of stock, or let you know when you need to order or make more of your product.

Sales order

The sales order is an order issued by a business or sole trader to a customer. A sales order may be for products and/or services. Given the wide variety of businesses, this means that the orders can be fulfilled in several ways.

Therefore, comparing inventory quantities on the sales order to inventory available in stock reduced the threat of loss.

Implications of the comparison

When effectively tracking and controlling your physical inventory, you’ll know how many of each item you have, when you might be running low on products and whether you should replenish that item in order to keep selling it.

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Assume that one unit is sold on April 27 for $300.

Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost methods.

Answers

The determination of the gross profit for April and the ending Inventory on April 30 is as follows:

                                               Gross Profit              Ending Inventory

(a) First-in, First-out (FIFO)    $200 ($300 - $100)   $260 ($120 + $140)

(b) Last-in, First-out (LIFO)    $160 ($300 - $140)   $220 ($120 + $100)

(c) Weighted Average cost   $180 ($300 - $120)   $240 ($120 x 2)

What are the Cost Flow Methods?

The cost flow methods are FIFO, LIFO, Specific Identification, and Weighted-Average Cost methods of costing ending inventory and cost of goods sold based on assumptions.

Question Completion:

The following three identical units of Item P401C are purchased during April:

Cost information:

Item   Units  Cost

April 2 Purchase  1 $100

15 Purchase  1   120

20 Purchase  1   140

Total   3        $360

Average cost per unit = $120 ($360 ÷ 3)

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discuss what the scatter chart inidcates about the relationship between profits and market capitalization

Answers

The scatter chart indicates that there is a positive linear relationship between profits and market capitalization.

What is a Scatter chart?

This is defined as a mathematical diagram which uses dots to represent values for two different numeric variables.

In this case, the scatter is relatively small with a positive slope which depicts a positive linear relationship between the variables.

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A customer calls to order a gift for their oldest child's 8th
birthday. He mentions that all of his children have
birthdays in the same month. What do you do?

Answers

Answer:

suggest that he continues to buy from your company?

Explanation:

you have successfully delivered a client project which was very critical for infosys the learnings can help other team in infosys in similar enagegements you want to put together a case studywhat steps should you take

Answers

The steps you should take after successfully delivering a client's project to help other team members in similar engagements in info-systems projects include the following:

Case SelectionEstablishing a theoretical frameworkData CollectionDescription and analysis.

What is info-systems engagement documentation steps?

Infor-systems engagement documentation enables project members to capture all engagement activities and projects so that the following achievements can be recorded:

Monitoring and evaluation of engagement projects.Providing a consolidated database for recording and reporting external collaborations.Providing project controls with deliverables, timescale, and budget.

Thus, to enable learnings, the above case study steps must be taken by project teams.

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Give a brief description of the career describe in the interview

Answers

Answer:

The description of yourself focuses on your professional and vocational history. Training and work experience are the two essential parts.

Explanation:

In any case, it's insufficient to say to the employing chief, that you procured a professional education or that you have past professional training.

For instance, school graduates may specify how required degree program temporary jobs were instrumental in acquiring both important work insight and industry information.

Prepared specialists may momentarily specify hands on grants, achievements and abilities procured throughout the long term, as selling focuses in the prospective employee meeting.

The most compensating part of my work is fostering my abilities and assisting with cultivating the development of my group. Notwithstanding the course you take in a vocation in bookkeeping, you will end up working with others

After an account has been written off using the direct write-off method, it will not be collected. True or False

Answers

Answer:

The awsner is true to that.

Suppose that because of the popularity of Jack Brown's, Aaron decides to open a third restaurant and issues another round of $10,000 one-year bonds. If the interest rate on the bond falls to 12%, the price of these new bonds is $???
12% = $10000 - X Divided by X Times 100

Answers

The price of the new bonds given the face value and interest rate is $8,928.57.

What is the price of the bonds?

Bonds are debt instruments issued by a firm with the purpose of raising capital to carry out projects. The price of the bonds can be determined by discounting the face value of the bonds by the interest rate.

The price of the bonds = face value of the bonds / ( 1 + interest rate)

$10,000 / (1.12) = $8,928.57

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In consonance with the IAS1 which talks about the presentation on Financial Statements, elucidate on the relevance of the cash flow statement to an institution, and as a requisite Financial statements?​

Answers

Explanation:

I don't think I have to go to a doctor and have a baby in the morning and my mom will be there

Your boss has told you to hire four more people to help you keep track of inventory. What kind of need is this

Answers

I would say thats a business operations need!

Hope this help! :)
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