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Goryan [66]
3 years ago
14

A "financial snapshot" is a technique to establish:

Business
1 answer:
In-s [12.5K]3 years ago
4 0
It is to provide your clients a visual demonstration of their current financial situation, the raw numbers on where they are today, and what it would take for them to reach their goals and dreams.
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Ben and Jerry were shareholders of Water Ice Inc., an S corp. On Jan. 1, 1998, Ben owned 40 shares and Jerry owned 60 shares. Be
expeople1 [14]

Answer: $15,060

Explanation:

From the question, we are informed that Ben and Jerry were shareholders of Water Ice Inc., an S corp. On Jan. 1, 1998, Ben owned 40 shares and Jerry owned 60 shares.

We are further told that Ben sold his shares to Joe for $10,000 on March 31, 1998 and that the corp. reported a $50,000 loss at the end of 1998. The loss that will be allocated to Joe will be:

= $50,000 × 40% × 9/12

= $50,000 × 0.4 × 0.75

= $15,000

The closest figure we have close to that is $15,060 which is option B

7 0
3 years ago
The process of transferring the debits and credits from the journal entries to the accounts is called a.journalizing b.sliding c
Rudiy27

Answer:

d. posting

Explanation:

There are various steps to prepare the financial statements. These are as follows:

1. Journalizing: It is a recording of business transaction with a narration in which the one account is debited and the other account is credited. It can be more transactions debited and credit that is depending upon the nature of the transaction.

2. Ledger posting: After recording the journal entries, the next step is to make the number of ledger i.e posting of the amount and the accounts to their respective ledger i.e sales ledger, purchase ledger, etc

3. Trial balance

4. Income statement

5. Statement of owners equity

6. Balance sheet

7. Cash flow statement

4 0
3 years ago
Peter is software designer working at a big software company. He just found out that he has been shifted to their downtown branc
frosja888 [35]

The answer is: Autocratic or authoritarian environment

In authoritarian environment, the upper managers do not involve the lower level employees in the decision making process.

This company value a strong chain of command. This mean that the employees of such company are expected to be fully obedient to the decisions by the higher level managers even if the decision is extremely inconvenient to them/.

5 0
3 years ago
Read 2 more answers
Wholesome Pet Food has successfully specialized for 20 years in high-quality pet food made from all-natural ingredients and orga
natta225 [31]

Answer:

a.

Explanation:

Based on the information provided within the question it can be said that the statement that is true from the ones provided is that Wholesome will probably be able to pass the cost on to its customers because they are less sensitive to price increases than the average buyer. Wholesome Pet Foods is a high quality provider, meaning that their products tend to be more expensive, and even still they have been incredibly successful because their clients do not mind paying more for better quality product. Therefore an increase in price will not affect their loyal customers.

7 0
3 years ago
A transaction between two parties who agree to trade money for a product or service is referred to as​ _____ exchange.
zimovet [89]
The answer to this question is: Voluntary exchange
In economy, voluntary exchange refers to the trade of resources between two parties that based on their own will.
This type of exchange usually could only happen because both parties feel that they will be advantaged from the exchange
3 0
3 years ago
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