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Monica [59]
1 year ago
7

Impact of new vendor with zero opening balance

Business
1 answer:
Marianna [84]1 year ago
5 0

The impact of the vendor with the zero opening balance is to show that the account has been correctly set up.

<h3>What is the vendor opening balance?</h3>

This is the term that is used to refer to the amount of money that is in an account at the particular time that the account is newly opened.

The way that the vendor balance can be gotten is when the opening balances that are in a new year are carried forwards and the customers are done. In order to track this, the code that is to be used is F. 07.

The opening balance is what would have to be brought forward at the end of an accounting period and it is usually what the vendor would have to use as they try to keep a track of the cash flow that is in their account.

Hence we would say that the impact of the new vendor with this balance that is 0 is to help to determine how correct the set up of the account has been done.

Read more on opening balance here: brainly.com/question/26235574

#SPJ1

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Campbell Home Maintenance Company earned operating income of $6,821,100 on operating assets of $58,300,000 during Year 2. The Tr
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Answer:

1.

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= $739,550

6 0
3 years ago
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