1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
yawa3891 [41]
2 years ago
8

It is obvious that an error occurred in the preparation and/or posting of closing entries if: Multiple Choice the Retained earni

ngs account is debited for the amount of the net loss for the period.
Business
1 answer:
Contact [7]2 years ago
7 0

There are different ways to make entry in a balance sheet. It is obvious that an error occurred in the preparation and/or posting of closing entries, if all balance sheet accounts have zero balances.

<h3>Should a balance sheet always have a zero balance?</h3>

Note that the sum of a company assets, liabilities and equity must always balance to zero.

For one to be able to have or generate a balance sheet report that is not equal zero, the balance sheet is said to be out of balance and this may create  an error in the ledger transactions.

Learn more about balance sheet accounts from

brainly.com/question/1113933

You might be interested in
Samantha makes $250.00 a week and saves 10% of her paycheck each week. How much will she save in 12 months
lozanna [386]

Answer:

7

Explanation:

9867=7

7 0
2 years ago
our Grandfather wants to establish a scholarship in his father’s name at a local university and had stipulated that you will adm
inn [45]

Answer:

The correct answer is Option A. you will need to deposit $111,111 so that you can fund the scholarship forever, assuming that the account will earn 4.50% per annum every year.

Explanation:

Perpetuity is the cash flows to be receivable for an unspecified period of time. The present value of a perpetuity is calculated as the cash flows divided by the interest rate provided.  

Given data;

Amount needed to be deposited = $5000

Interest rate = 4.50%

Present Value of Perpetuity = Cash Flows ÷ Interest rate  

= $5000 ÷ 0.045

= $111,111

3 0
2 years ago
In terms of the increasing complexity in media buying and selling, _____ often employ(s) communications vehicles outside traditi
Cerrena [4.2K]

Answer:

Value-added packaging

Explanation:

Value-added packaging is self-explanatory, you try to make a packaging that adds more value to the customer. Since every customer will see the package, you can reach them more than traditional media planning. The value itself can vary widely. By making an artistic design, the customer can better impression about the product. A premium looked packaging will show more prestige to the customer. Some creative packaging can efficiently save space while still protecting the product.

3 0
2 years ago
Individuals who want to work and have searched for work in the prior​ year, but are not currently looking for work because they
Makovka662 [10]

Answer:

Discouraged; are not

Marginally attached; are not

Employed; are

Explanation:

Those workers who have had a job in past but are currently unemployed and are not currently looking for work because they were not able to find job are called discouraged workers.

They believe they will not find a job now so have stopped looking. These workers are not included in the labor force.

Marginally attached workers are those workers who are not employed but are not looking for work because of a number of reasons such as illness, school, responsibility, etc. These workers are also not included in labor force.

Those workers who would like to have full-time job but are employed part-time are considered employed. These workers are included in the labor force.

8 0
3 years ago
In eight years, when he is discharged from the Air Force, Steve wants to buy a $30,000 power boat. Click here to view Exhibit 12
IceJOKER [234]

Answer:

The correct answer is:

(1) $15,054

(2) $12,990

Explanation:

The required table is not given in the question. Please find below the attachment of the table.

Given:

Future value,

= $30,000

If discounting rate is 9%, the present value will be:

= Future \ value\times PV \ factor(9 \ percent, 8 \ years)

= 30000\times (\frac{1}{1.09} )^8

= 30000\times 0.5018

= 15,054 ($)

If discounting rate is 11%, the present value will be:

= Future \ value\times PV \ factor(11 \ percent, 8 \ years)

= 30000\times (\frac{1}{1.11} )^6

= 30000\times 0.433

= 12,990 ($)

8 0
3 years ago
Other questions:
  • Morrow Inc. uses the percentage of credit sales method of estimating doubtful accounts. The Allowance for Doubtful Accounts has
    9·1 answer
  • Joe is a pizza delivery worker. the pizza shop he works for has a 30 minutes or less delivery guarantee or else the customer doe
    11·1 answer
  • Jim is a college senior with $50,000 in student loans. he earned $2,000 last year. he has no savings so he charged a $5,000 vaca
    15·1 answer
  • Suppose the civilian non-institutional population equals 100,000 persons; the civilian labor force equals 75,000 persons; there
    10·1 answer
  • How do price changes drive markets toward equilibrium?
    5·1 answer
  • Safety is the responsibility of: <br> My supervisor<br> Everyone<br> My co-workers<br> Myself
    10·2 answers
  • A country has nominal GDP equal to $204.31 billion in 2018. The GDP deflator in 2018 has a value of 112.64. What was the value o
    5·1 answer
  • The following standards for variable overhead have been established for a company that makes only one product:
    12·1 answer
  • Suppose the current price of a good is $130. At this price, the quantity supplied is 125 units, and the quantity demanded is 165
    14·1 answer
  • A good percentage to start with for saving is ________________ percent of your teaching income.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!