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Minchanka [31]
2 years ago
10

An adjusted trial balance does not list the revenues and expenses of a business.

Business
1 answer:
jenyasd209 [6]2 years ago
6 0

False, An adjusted trial balance does not list the revenues and expenses of a business.

  • No entry is made under the accrual system of accounting until the money has been paid.
  • Additionally,<u> an </u><u>adjusted trial balance</u><u> does not include a </u><u>business's revenues and costs.</u> The net income will be inflated if a corporation doesn't make an adjustment entry for accrued revenues.

What is an adjusted trial balance ?

  • At the end of an accounting period, the balances of all accounts, including those that have been amended, are displayed in an adjusted trial balance.
  • Its goal is to demonstrate that, after all adjustments, the total debit and total credit balances in the ledger are equal.

Which of the following is true of a trial balance?

A trial balance with equal debit and credit balances proves that the accounts are in balance.

Learn more about adjusted trial balance

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Here are the 2015 revenues for the Wendover Group Practice Association for four different budgets (in thousands of dollars):
erastova [34]

Answer: The answer is provided below

Explanation:

a). The revenue here shows that

Wendover's patients were capitated. The is because the actual revenue figures were assumed to be $180, but it

later came to $300 which means that the revenue increased.

The reason is that a capitated patient provides fixed payment a year, while a fee for service client pays per usage. With this explanation, it can be concluded that majority of Wendover's patients are fee for service because the difference between static results and the actual results is very high.

) 1. Revenue variance

= Actual Revenues - Static budget

= $ 300 - $ 425

= - $125

2. Volume variance

= Flexible Revenue - Static Budget

= $ 200 - $ 425

= - $ 225

3. Price Variance

= Actual Revenues - Flexible Revenues

=$300 - $200

= $100

4. Enrollment variance

= Flexible Revenues - Static Budget

= $ 180 - $ 425

= - $ 245

5. Utilization variance

= Flexible Revenue- Flexible Budget

= $ 200 - $ 180

= $ 20

8 0
3 years ago
Read 2 more answers
Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhea
ElenaW [278]

Answer:

Estimated manufacturing overhead rate= $10 per direct labor hour

Explanation:

Giving the following information:

estimated manufacturing overhead= $2,886,000

estimated direct labor dollars= 288,600

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 2,886,000/288,600= $10 per direct labor hour

8 0
3 years ago
has oversight responsibility for the servicing and repair of her company's fleet of cars, so she frequently calls the garage mec
Olegator [25]

Answer:

Variable-interval

Explanation:

she is likely to be reinforced with positive responses to her inquiries on a variable-interval schedule.

Variable-interval schedule is a schedule of reinforcement where a response is recompensed after an uncertain amount of time has passed, which is the opposite of a fixed-interval schedule.

8 0
3 years ago
Under the perpetual inventory system, in addition to making the entry to record a sale, a company would debit Inventory and cred
marshall27 [118]

Answer:

The journal entry is shown below:

Explanation:

The journal entry for the sale of the goods using the system of perpetual inventory is shown below:

Cost of Goods sold A/c.............................Dr   XXXX

               Inventory A/c........................................Cr XXXX

Being record the sale using perpetual inventory system

Under the system of perpetual inventory, the sale or the purchase of inventory is recorded immediately using the point of sale system.

So, account of Cost of goods sold (COGS) is debited against the inventory which is sold through the business and that is credited.

5 0
3 years ago
There are a number of derogatory terms in the united states for members of minority groups who have assimilated. "oreo, "twinkie
asambeis [7]
The term that embodies these insults is identity challenges. 
These people are living as minorities in areas where there are predominantly people who don't have the same skin color as they do. Thus, in order for them not to stand out from the crowd, they start acting the same way as the majority of the people do, even though it may not suit their skin color at all. Which is why there are these derogatory terms to describe them, unfortunately. 
6 0
3 years ago
Read 2 more answers
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