Answer:
The closing process is necessary in order to confirm that net income or net loss and owner withdrawals for the period are closed into the owner's capital account.
Explanation:
Most economies around the world follow a specific accounting period which is commonly referred to as financial year or tax year. Before a new financial year begins, the accounts from the ongoing financial year have to be closed legitimately through a process called the 'closing process'. This process culminates in confirming that the net income secured or the net loss bore by the owner is included in no other account than the owner's capital account.
In order to carry out the closing process, the accountant has to commence with identifying the accounts that are required to be closed with or before the ending of the predefined financial period. He then has to record the last entries in these accounts as 'closing entries'. Once the accounts are closed, he has to calculate the trial balance and interpret the outcome. Closing of temporary accounts through a valid closing process dispenses the ease of calculating profit and loss in any given financial period coming to end.
I think the answer is <span>unit-elastic over this price range. This happens when a company earns the same revenue even with some slight changes on the prices. It means that slight increase or even decrease in price does not affect the revenue of the company.</span>
Answer:
Just work hard and be fast
Explanation:
Just work and be fast! People at the back wont get mad because you are a hardworking/fastworking man/woman!
Answer:
When we get too hot, sweat glands in the skin release more sweat. The sweat evaporates, transferring heat energy from the skin to the environment.
Answer:
$996,267.41
Explanation:
The Net Present Value of Alpha`s project can be determined by using the CFj Function of a Financial Calculator as follows :
<em>- $400,000 CF0</em>
<em>$325,000 CF1</em>
<em>$500,000 CF2</em>
<em>$400,000 CF3</em>
<em>$475,000 CF4</em>
<em>I/YR = 8%</em>
<em>Then, SHIFT NPV gives $996,267.41</em>
Thus, Alpha's net present value (NPV) is $996,267.41.
