Answer:
The accounting cycle is all about managing,updating and reporting on the firm's accounts.
Explanation:
The accounting cycle can be listed in the following nine steps as:
- Step 1: analyzing transactions as sales, purchase,etc
- Step 2: All the transactions need to be recorded
- Step 3: All the information should be transferred from journal to the ledger
- Step 4: An unadjusted trial balance should be formulated
- Step 5:Adjusted entries are prepared
- Step 6: An adjusted trial balance is constructed
- Step 7: a financial statement is prepared
- Step 8: Closing entries are prepared
- Step 9: The post closing trial balance is prepared
Answer:
Profit earning ratio of MMC = 10%
Explanation:
Given:
Current stock price = $100
Yearly profit on each share = $10
Profit earning ratio (P\E ratio) =?
Computation of profit earning ratio:
Profit earning ratio (P\E ratio) = Current stock price / Yearly profit on each share
Profit earning ratio (P\E ratio) = $100 / $10
Profit earning ratio (P\E ratio) = 10
It is computed that MMC's Profit earning ratio is nearer to the industry averages P/E ratio so, the investor can wait for some time to purchase this stock.
The New Deal changed the role of government completely. Before the New Deal, government had essentially no role in steering the economy or in providing for the people. After the New Deal, the government has come to play a huge role in both of these things.
Before the New Deal, the government was expected to be more or less laissez-faire. It was supposed to just stay out of the way and let the economy rise or fall "naturally." If people were too old to work, they needed to rely on family. If a bank failed, its depositors were out of luck. The New Deal changed all of that.
Answer:
A detailed list of the accounts that make up the five financial statement elements.
Explanation:
The company's chart of accounts is the listing of all the accounts that the company has included as part of the five financial statement elements during a specific period of time.
The five financial statement elements are: assets, liabilities, equity (part of the balance sheet), expenses and revenues (part of the income statement).
Examples of accounts that can be part of a firm's chart of accounts are: land (asset), cash (asset), notes payable (liabilities), outstanding stock (equity), operating expenses (expenses), and sales revenue (revenues).
The chart of accounts can differ greatly from company to company simply because companies engage in vastly different economic activities.
The <span>Three outcomes which are the success, failure, and proficient are </span><span>not one of the four criteria for a geometric setting.
</span><span>
The criteria for geometric setting are:</span>
1. Each observation is subdivided into two categories: Success and Failure.
2. The probability of success remains constant for each observation.
3. The observations are always independent.
4. The variable of interest is defined as the number of trials required to obtain the first success.
