Answer:
The correct answer is letter "B": Preparing financial statements such as the balance sheet, income statement, and statement of cash flows.
Explanation:
A trial balance is a worksheet listing the debit and credit balances of all the ledger accounts for an entity. Under accounting theory, the total of all the debits must equal the total of all the credits. Since the trial balance is a list of all the accounts it serves as an accuracy check before the company prepares the financial statements including the <em>Balance sheet, Income </em>and <em>Cash Flows Statements</em>.
Answer: Debit to bad debt expense for $3580.
Explanation:
Based on the information given, the bad debt expense will be:
= Desired balance - Actual balance before adjustment
= $8400 - $4820
= $3580
Based on the above, the journal entry will be:
Debit Bad debt expense $3580
Credit Allowance for uncollectible $3580
Answer:
C. decrease; not change
Explanation:
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
The rise in price of gasoline only affects the quantity demanded. Other factors affect the demand for gasoline.
I hope my answer helps you
The price behind the Yeezy allows for the item to be well known. Much like Jordan brand sneakers, its name represents a higher fiscal status.
Answer:
The question has the following multiple choices:
Multiple Choice
18,000 shares
50,000 shares
120,000 shares
32,000 shares
49,500 shares
The correct option is 50,000 shares as shown below
Explanation:
Number of shares after stock-split=number of shares before stock split*stock split ratio
number of shares before stock split=30,000
stock-split ratio is 5/3
Number of shares after stock-split=30,000*5/3
=50,000 shares
Stock-split is an approach where a company further split its existing shares into multiples of shares in order to make the share more affordable to investors, even though the number of shares increases with a stock-split,but the actual monetary value of the shares remains the same.
