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3 years ago

You've just created and e-mailed the financial statements to your boss? What is the next step you should do in accounting cycle?

1 answer:

5 0

<span>You've just created and e-mailed the financial statements to your boss. What is the next step you should do in accounting cycle? Close out the revenue and expense accounts. After the financial statements are prepared all nominal accounts which include the revenue and expenses, should be closed out to zero. This allows for the accounts to be at an even start for the next accounting cycle.

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Hal has just graduated from four years of college. For the last two years, he took out a Stafford loan to pay for his tuition. E

Nonamiya [84]

Answer: The answer is D, $13,615.

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3 years ago

A publisher faces the following demand schedule for the next novel from one of its popular authors:

enyata [817]

Answer and Explanation:

The completion of the second, fourth, and fifth columns of the given table is to be shown in the attachment below:

As we know that

Profit = Total revenue - total cost

Total revenue is the revenue earned by the company by multiplying the price with the quantity demanded

While the total cost is

= Fixed cost + variable cost

The marginal revenue comes from

= Change in total revenue ÷ change in quantity

We simply use these formulas in the spreadsheet below.

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3 years ago

When a line cook in a restaurant uses raw meat to cook a hamburger that becomes part of the restaurant's Super Burger Special, t

gulaghasi [49]

Answer:

Transformation process.

Explanation:

When a line cook in a restaurant uses raw meat to cook a hamburger that becomes part of the restaurant's Super Burger Special, the cook is taking part in a transformation process.

A transformation process can be defined as the capabilities possessed by an organization, which are then integrated into technology, internal processes, and management, for the singular purpose of converting inputs into outputs in order to meet the needs or requirements of their customers.

In this scenario, the cook uses raw meat as an input in the creation of an output, which is the restaurant's Super Burger Special.

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3 years ago

Assume you have a brand new baby today. You plan to make 18 $1,000 annual deposits in her college savings account, starting on h

aleksley [76]

Answer:

After her 18th birthday the balance will be $41,301

Explanation:

Balance right after the 18th birthday is calculated using the formula for future value of annuity

FV = $PMT \times \frac{(1+i)^{n}-1}{i}$

Annual payment PMT = 1,000

Interest rate i = 0.09

Deposits are made for 18 years: n = 18

The balance in her account will then be:

FV = 1,000 * ( 1.09^18 - 1 ) / 0.09

= $41,301

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3 years ago

Sean works for Cash'n'Carry, a payday loan company. He has been asked to develop an ethical mission statement to reassure custom

soldi70 [24.7K]

Answer:

c. Emphasis on ethics

Explanation:

Sean has been tasked with developing a ethical mission statement with a view of reassuring customers on predatory lending practices.

This is a renewed emphasis on the ethics of the company and by so doing it will reassure the company is aware of the ethical practice in this regard and that they are pledging to act ethically.

Ethics is defined as the process of systemising and recommending concepts of right and wrong. It is also called moral philosophy.

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3 years ago