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oksian1 [2.3K]
3 years ago
15

Our entrepreneur in problem 4 above is trying to set up a well-organized office filling system that will make it easier (and les

s costly) for the company’s accountant to do their work. The accountant has told the entrepreneur to put all Profit and Loss source documents in one file and all Balance Sheet items in another file. The entrepreneur has made a list of every piece of paper she can think of and a checklist to help get the filing system organized. How would you complete this checklist to get the financial files organized? Answer the following 13 questions to show how you would organize the files for the accountant.
1. Sales receipts
2. Bank statements showing cash in the bank
3. Payrolls from your payroll firm that have bccn paid
4. Receipts for business travel
5. Utility bills paid
6. Orders for supplies that you have 60 days to pay
7. Receipts for major equipment purchases
8. Insurance premiums paid
9. Rent paid for office space
10. Advertising bills paid
11. Bounced checks from customers for prior sales
12. Statement showing balance due on bank loan
13. Credit card statements showing balances due
Business
1 answer:
PIT_PIT [208]3 years ago
7 0

Answer:

Profit and Loss file

Sales receipt

Payrolls from your payroll firm that have been paid

Receipt for business travel

Utility bills paid

Insurance premium paid

Rent paid for office space

Advertising bills paid

Balance sheet file

Bank statement showing cash in the bank

Order for suppliers that you have 60days to pay

Statement showing balance due on bank loan

Credit card statement showing balances due

Bounced checks from customers for prior sales

Explanation:

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When bonds are converted into common stock____.
nexus9112 [7]

Answer:

When bonds are converted into common stock____.

a. the market price of the stock and the bonds is ignored when recording the conversion.

Explanation:

This is because the conversion price, which is the price at which the convertible bond is converted into the common stock of the entity, is usually set initially when the conversion ratio is first decided on.  Therefore, the market prices of the stock and the bonds are not taken into account when the conversion recording is being done.

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3 years ago
Kurtz Fencing Inc. uses a job order cost system. The following data summarize the operations related to production for March, th
dimulka [17.4K]

Answer:

The solution is shown in the file attached below

Explanation:

Download docx
8 0
3 years ago
The Science of Macroeconomics
Yuliya22 [10]

Answer:

Macroeconomics deals with events that affects the entire country or industry as a whole while Microeconomics affects individual members of the economy such as companies and people.

A. Congress recently passed the Tax Cuts and Jobs Act of 2017. MACRO

This Act will affect the entire nation so it will fall under Macroeconomics.

B. Amazon now has a 40% share of all e-commerce revenues. MICRO

Amazon is a single company in the market so things related to it will be considered on a micro economic level.

C. Tuition at the local university increased 11% from last year. MICRO

The local university like Amazon, is a single body in the economy and so they are a microeconomic player.

D. The U.S. unemployment rate fell below 4% in 2018. MACRO

The unemployment rate of a nation relates to the nation as a whole so this will fall under macroeconomics.

3 0
3 years ago
One major advantage of limited liability is that it:________.
Finger [1]

Answer: c. shields the personal assets of owners from liability claims.

Explanation:

An advantage of limited liability is that it shields the personal assets of owners from liability claims.

For a limited liability company, it should be noted that the liabilities of the members in the company for the debts that are incurred are limited only to the investment of the members. Personal assets are not affected if the company first into debt.

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After serving several drinks, a guest stumbles when walking and sways when standing still. This is a sign of ?
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This is a sign of being drunk I think or dazed

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