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DochEvi [55]
1 year ago
5

In the closing process, ______ are zeroed out by crediting each account and ______ are zeroed out by debiting each account.

Business
1 answer:
sashaice [31]1 year ago
4 0

In the closing procedure, expenses and dividends are zeroed out by crediting each account, and incomes are zeroed out by debiting each account.

<h3>What is the objective of the closing process?</h3>

One purpose of closing admissions is to communicate net income or net loss for the period to Retained Earnings. A second objective is to "zero out" all temporary accounts (revenue accounts, expense accounts, and Dividends) so that they begin each new period with a zero balance.

The statement of cash flows must be prepared last because it takes data from all three previously prepared financial statements.

To learn more about the closing procedure visit the link

brainly.com/question/13171423

#SPJ4

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When we express the value of a cash flow or series of cash flows in terms of dollars today, we call it the ________ of the inves
Over [174]

Answer:

present value; future value

Explanation:

When we express the value of a cash flow or series of cash flows in terms of dollars today, we call it the present value of the investment. This is achieved by discount the future cash flows using the appropriate discounting rate to show the effect of time value of money.

Then, If we express it in terms of dollars in the future, we call it the future value. This is achieved by Compounding the Principle or Present Value using the appropriate compounding rate to show the effect of time value of money

4 0
3 years ago
Select the correct answer from each drop-down menu.
Aleks [24]

Answer:

As Fabian opened his store and made a purchase in credit, this made the asset as current assets and they are mainly getting converted to current liabilities as because he is liable to pay for the products he purchased but was unable to sell those items.

Explanation:

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3 0
3 years ago
A portfolio is composed of two stocks, A and B. Stock A has a standard deviation of return of 35%, while stock B has a standard
Licemer1 [7]

Answer: the options are listed below.

A. 18.45%

B. 17.67%

C. 23%

D. 19.76%

The correct option is D. 19.76%.

Explanation:

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5 0
4 years ago
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Evgesh-ka [11]

Answer:

$5,000

Explanation:

<em>Note that Lakeland Chemical manufactures uses weighted-average method of process costing</em>

Equivalent units

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Conversion Costs = 7,500

Total Costs

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Conversion Costs = $15,000

Cost per equivalent units

Materials =

Conversion Costs =

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8 0
3 years ago
How can a nation benefit from effectively exporting its goods??
ale4655 [162]

B) its businesses can invest in the future

8 0
3 years ago
Read 2 more answers
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