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2 years ago

Trial Balance Practice

Business

1 answer:

irinina [24]2 years ago

3 0

The preparation of the Trial Balance of Ceco Co. from the ledger accounts as of June 20, 2020, is as follows:

Ceco Co.

<h3>Trial Balance</h3>

At June 30, 2020

Accounts Debit Credit

Cash $5,000.00

A/R - R. Tamo 3,500.00

A/R - G. Slaught 1,124.00

A/R - P. Onno 850.00

Supplies 1,585.00

Automobile 22,800.00

Equipment 25,350.00

A/P - Batt Inc. $785.00

A/P - Parker Products 1,000.00

A/P - Nishi Co. 1,200.00

Bank Loan 25,000.00

C. Hernandez, Capital 32,224.00

Totals $60,209.00 $60,209.00

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

A trial balance is a list of the ledger accounts balances at a particular date of the financial period.

The trial balance helps to show if accounts have been correctly recorded according to the double-entry system.

Thus, the above trial balance shows the ledger accounts balances of Ceco Co as of June 30, 2020.

Learn more about preparing the trial balance at brainly.com/question/13669511

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Symphon Times Inc., a Swiss-based premium watch brand, has recently started selling its watches through company-owned retail out

iVinArrow [24]

Answer:

a) geographic diversification strategy.

Explanation:

In this scenario, Symphon Times Inc., a Swiss-based premium watch brand, has recently started selling its watches through company-owned retail outlets in major cities of the emerging nations. The type of diversification strategies the firm is pursuing is a geographic diversification strategy.

Geographical diversification strategy can be defined as the process of diversifying your investments across various geographical regions (market) so as to improve profits or returns on investment and primarily to mitigate the overall business risk.

Hence, using the geographic diversification strategy Symphon Times Inc., is spreading its risk across various geographical regions or emerging nations by allocation of its resources in order to prevent them from being vulnerable to external conditions and to improve their performance and competitiveness. Thus, a geographic diversification strategy is simply a business management strategy that entails "not putting all your eggs in a basket" rather you should have them spread across in order to prevent or mitigate the overall risks.

<em>Additionally, in order to preserve wealth and to reduce portfolio risks it is advisable that business owners such as Symphon Times Inc. engage in geographic diversification strategy.</em>

4 0

3 years ago

Title to a certain real property is being held in a trust as collateral for a loan. What kind of deed will the trustee use to co

Shkiper50 [21]

Answer: Reconveyance deed

Explanation: A Reconveyance deed is used to indicate that a borrower has paid his loan or debt in full. A Reconveyance deed is issued by the trustee or lender to signal the transfer of title to the original owner after he or she must have satisfied the term of loan issued by the trustee. A Reconveyance deed is usually notarized containing a legal description of the property and its parcel number.

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3 years ago

Uestion 5

konstantin123 [22]

Answer:

BROOKLYN LTD

The selling price should be set at Shs. 15,000. At this price, there are more sales in unit and value than at the selling price of Shs. 24,000.

Explanation:

a) Data and Calculations:

Shs. 15,000 Probability Expected Sales

Forecasted Sales Volume 20,000 10% 2,000

Forecasted Sales Volume 30,000 60% 18,000

Forecasted Sales Volume 40,000 30% 12,000

Total Expected sales 32,000

Total Sales Value = Shs. 480,000,000 (Shs. 15,000 x 32,000)

Shs. 24,000 Probability Expected Sales

Forecasted Sales Volume 8,000 10% 800

Forecasted Sales Volume 16,000 30% 4,800

Forecasted Sales Volume 20,000 30% 6,000

Forecasted Sales Volume 24,000 30% 7,200

Total Expected sales 18,800

Total Sales Value = Shs. 451,200,000 (Shs. 24,000 x 18,800)

3 0

3 years ago

The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period:

sweet [91]

Answer:

B. $250,300.

Explanation:

We are asked to solve forthe amoung of cost of goods sold.

we add up the beginning FG and the manufactured goods

then we subtract the ending FG which represent the unsold amount

Cost Of Goods Sold

beginning Finished Goods 72,300

Cost Of Goods Manufactured <u> 246,300</u>

Total goods available for sale 318,600

ending FG <u> -68,300</u>

Cost Of Goods Sold 250300

8 0

3 years ago

Read 2 more answers

1. Which of the following ratios use de-levered net income? (check all that apply)

notka56 [123]

Answer:

The ROA (Return on Assets) and the Return on Sales are the ratios which use the de-levered net income.

Explanation:

The shareholders want to evaluate or measure the return without any effects of the interest expense. De- levered net income is required to alter the net income so that it can be added back it to the interest expense.

The ratio which using De-levered net income are the ROA that is Return on assets and the Return on Sales because it is used to measure the return.

6 0

3 years ago