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ludmilkaskok [199]
1 year ago
14

post-closing trial balance is a list of ____________ accounts and their balances ____________ all _________- entries have been j

ournalized and posted.
Business
1 answer:
BigorU [14]1 year ago
4 0

Post-closing trial balance is a list of <u>permanent</u> accounts and their balances<u> ledger</u> all <u>closing- </u>entries have been journalized and posted.

The post-closing trial balance is a balance sheet report that is made after the closing journal in order to ensure that the total balance in the general ledger is balanced or in accordance with the balance. This method is made in order to convince every accountant or businessman who makes closing journals so that they do not have an error in the calculation difference.

Generally, this balance sheet is able to produce real accounts, namely capital, assets and debt. However, nominal accounts, such as income and expenses, are closed by closing entries. Thus, the next step in making good financial statements is to present a statement of financial position, profit and loss, and capital so that later there will be no calculation errors.

You can learn more about post-closing trial balance here brainly.com/question/14562385

#SPJ4

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Emily wants to open a chain of hair styling salons and hopes to attract investors to help finance growth. She considered forming
attashe74 [19]

Answer: A Limited liability company

Explanation:

The best option for Emily would be to form a limited liability company, the limited liability company would: still give her a larger control of the business, have little liability on the investors and there would be no double taxing on her.

A limited liability company is a form of business owned by one or more individuals, where there is limited liability, no double taxing therefore no taxing on the company but the owner is taxed by income, income must not necessarily be shared equally among business owners.

7 0
3 years ago
Assume the MPC is 0.6. If government were to impose $10 billion of new taxes on household income, consumption spending would ini
mihalych1998 [28]

Answer:

$6 billion

Explanation:

Calculation to determine what consumption spending would initially decrease by

Using this formula

Decrease in Consumption spending=MPC * New taxes on household income

Let plug in the formula

Decrease in Consumption spending=0.6*$10 billion

Decrease in Consumption spending=$6 billion

Therefore consumption spending would initially decrease by $6 billion

4 0
3 years ago
To complete your degree and then go through graduate school, you will need $95,000 at end of each of the next 8 years. Your Aunt
VARVARA [1.3K]

Answer:

PMT = $95,000

Rate = 4%

Life = 8 years

a. Amount to be deposited today

= PV(Rate, N, -PMT)

= PV(4%, 8, -95,000)

= $639,610.76

b. Amount in account after 3rd withdrawal

= PV(Rate, N, -PMT)

= PV(4%, 5, -95,000)

= $422,913.12

c. Balance in account after 8th withdrawal

= = PV(Rate, N, -PMT)

= PV(4%, 0, -95,000)

= $0

d. How much would you have at the end of 8 years?

= FV(4%, 8, -639610.76)

= $875,351.49

5 0
3 years ago
Maintenance, which was about 18 of the total budget less than it spent on administrative personnel. The amount spent on administ
____ [38]

Answer:

the remaining budget for other expenses = 1/8 of the total budget

Explanation:

Since the city's administrative personnel expenses are 1/8 larger than both maintenance expenses and safety expenses, it means that safety expenses are equal to maintenance expenses.

Since maintenance expenses are 1/4 of the total budget, safety expenses are also 1/4 of the total budget.

Administrative personnel expenses are 1/8 higher, so that means that they equal 1/4 + 1/8 of the total expenses.

If we add the three categories = 1/4 + 1/4 + (1/4 + 1/8) = 7/8

So the remaining budget for other expenses = 1 - 7/8 = 1/8 of the total budget

8 0
3 years ago
Molly, a successful real estate salesperson, took some time off to stay at home with her first child. Days turned into weeks, we
Mariana [72]

Answer:

No

Explanation:

A licensing agreement is a partnership between an intellectual property rights owner (licensor) and another who is authorized to use such rights (licensee) in exchange for an agreed payment (fee or royalty).

Molly cannot simply pick up where she left off because two years after the license expires, all license rights lapse. Molly must re-qualify through the examination process before being licensed in real estate once again.

7 0
3 years ago
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