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2 years ago

Accounting provides information to

Business

1 answer:

timama [110]2 years ago

6 0

Answer:

The correct answer is All of the above.

Accounting provides all the information related to the decision making of various stake holders of an entity.

Managers are provided with information that are required to set goals and do daily activities.

government is given the data required for their policies and taxes.

While the investors are given the material information to make economic and investing decisions.

Explanation:

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Beginning inventory for the month contained 3,000 units that were 35% complete with respect to materials. 57,000 units were comp

notka56 [123]

Answer: 57,550 units

Explanation:

When using the weighted average method, the units completed and transferred out are assumed to include the opening inventory.

The weighted average equivalent units are therefore:

= Units completed and transferred out + Equivalent ending units

= 57,000 + (10% * 5,500)

= 57,000 + 550

= 57,550 units

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2 years ago

The most effective audit procedure for determining the collectibility of an account receivable is the

Schach [20]

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2 years ago

Based on the following adjusted trial balance: Peak Corporation Adjusted Trial Balance As of December 31, 2018 Debit Credit Cash

ivanzaharov [21]

Answer:

Determine the amount that will be reported as retained earnings on the post-closing trial balance.

Retainend earnings final___________30000

Explanation:

Cash__________________800

Account Receivable______ 200

Inventory_______________2500

Building________________30000

Accunulated depreciation_______________ 3000

Notes payable_________________________ 500

Common stock_________________________21000

Retainend Earnings_____________________ 5000

Dividens________________1000

Revenue_____________________________ 7000

Selling and administration_ 1000

Insurance expense_______ 1000

36500 36500

Retainend earnings______ 1000 26000

Retainend earnings initial_________ 25000

Net income_____________2000____7000

5000

Retainend earnings final___________30000

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2 years ago

Explain what lower of cost or market means in regards to reporting merchandise inventory on the balance sheet.

Degger [83]

Answer and Explanation:

Inventory is an asset and is posted on the asset side of the balance sheet. As per accounting standards regarding inventory valuation, it can be either valued at historical cost or at market price, whichever is lower.

Historical cost is the cost at which asset was acquired. Market price is the price which would be received if the asset is replaced as on the date on which balance sheet is prepared. Inventory is valued at lower of the above mentioned costs.

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3 years ago

What is most likely to have a negative effect on<br> domestic small business growth

xxTIMURxx [149]

Answer:

Restrictive loan policies, taxes

Explanation:

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3 years ago