All categories

1 year ago

U

Business

1 answer:

oksian1 [2.3K]1 year ago

3 0

The descriptions to cases that will possibility be addressed by a Trial Balance are:

can detect the accuracy of the accounting process(possible)

can help check whether the debit side is equal to the credit side(possible)

can help prepare the income statement(possible)

helps serve as a proof of the application of the double-entry system(not possible)

can help check whether a particular transaction has been completely omitted(not possible)

<h3>What is trial balance?</h3>

A trial balance can be regarded as bookkeeping worksheet which contains the ledger that is arranged into debit and credit account column .

Therefore, with trial balance, one can check whether the debit side is equal to the credit side.

learn more about trial balance at:brainly.com/question/24217989

#SPJ1

You might be interested in

Lonny (37) is a U.S. citizen. He was married at the beginning of the current tax year. His wife lived in the household until Sep

Ivenika [448]

Answer:

Head of household

Explanation:

Lonny's most advantageous filing status is the Head of Household. In order to use this filing status, it is mandated for the taxpayer to be either unmarried or considered unmarried by the year end. The taxpayer must also have paid over 50 percent of the cost of catering for a home for the year in view (either his personal home or the that of a qualifying parent)

6 0

3 years ago

Wetherald Products, Incorporated, has a Pump Division that manufactures and sells a number of products, including a standard pum

algol13

Answer:

Minimum transfer price = $86

Explanation:

Pump Division is operating at full capacity, hence it has no excess capacity

This implies that it can not produce enough to meet both the internal demand (from the Pool Division ) and external buyers.

Hence, it implies that Pump Division cannot accommodate the demands of the Pump Division at a price lower than the external price of $86. Any price lower than $86 would result into a loss in contribution.

To maximize and optimize the group profit, the minimum transfer price should be set as follows:

Minimum transfer price = External selling price at which Pump Division sells to outside customers

Minimum transfer price = $86

7 0

2 years ago

. If Canace Company, with a break-even point at $313,500 of sales, has actual sales of $570,000, what is the margin of safety ex

Gre4nikov [31]

Answer:

Canace Company

a-1) Margin of safety is:

= $256,500.

a-2) Margin of safety is:

= 55%.

b) The amount of actual sales is:

= $5,677,500.

Explanation:

a) Data and Calculations:

Break-even point sales = $313,500

Actual sales = $570,000

Margin of safety = $256,500 ($570,000 - $313,500)

Margin of safety as a percentage of sales = 55% ($313,500/$570,000 * 100)

2) Margin of safety = 25%

Fixed costs = $1,419,375

Break-even point in sales dollars = $1,419,375

Variable costs = 75% of sales

Contribution margin at break-even point = 25% (100% - 75%) = $1,419,375

Actual sales in dollars = $5,677,500 ($1,419,375/25%)

6 0

3 years ago

Nlg gers number yes 34 to yes

allsm [11]

Answer:

Umm what are u trying to get 34 to

8 0

3 years ago

Marcus is on a team to plan volunteer opportunities for employees in the company. His role is to handle public communications ab

arsen [322]

Answer:

Marcus should control his emotions

Explanation:

It is natural for Marcus to become angry because of Amy's action. Nonetheless, as team member, he will need to control himself, to be effective as such. Lest such furiosity turn out to become a chaos in a work environment and hinder efficiency, consequently frustrating the aim of the team.

4 0

3 years ago