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3 years ago

The __________ is a listing of all the balance sheet and income-related accounts

1 answer:

8 0

Answer : Chart of accounts Explanation: A chart of accounts (COA) is a created list of the accounts used by an organization to define each class of items for which money or the equivalent is spent or received. It is used to organize the finances of the entity and to segregate expenditures, revenue, assets and liabilities in order to give interested parties a better understanding of the financial health of the entity.

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Brittany, an accrual basis taxpayer, operates a small distribution business. Her records show the following income items for the

Butoxors [25]

Her gross income is $65,975.00

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3 years ago

Read 2 more answers

The Durham-Mills Self-Administering Test of Mental Ability was the first group-administered mental ability test to have widespre

forsale [732]

Answer:

False

Explanation:

The Otis Self-Administering Test of Mental Ability was the first group-administered mental ability test to have widespread use in industry.

This test was first developed in 1922 by Arthur Otis. It was first designed to measure students' general school abilities. Otis's first tests were designed for the Army in 1917 and were known as the Alpha tests (for those who could read) and the Beta tests (for those who couldn't read).

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3 years ago

Ms. Pear owned 1,000 shares of YZ Corporation which she had purchased in Year 1 at a cost of $12 per share. In Year 3, she recei

Neko [114]

Answer:

$2,000

Explanation:

Ms. Pear invested $12,000 in 1,000 shares of YZ Corporation. After the dividends she received and the stock split, she ended with 2,400 shares. Since she sold 400 shares, it represents 16.67% of her total shares (= 400 / 2,400). To determine the basis for the 400 shares she sold all we need to do is multiply 16.67% x $12,000 (initial investment) = $2,000

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3 years ago

lucy invests $800 in an account that earns 6.12% annual interest compounded continuously. juan invests $1600 in an account that

Len [333]

Answer:

Both their investments will reach a similar value in 32 years, 9 months and 8 days. Both accounts will have exactly $5,606.

Explanation:

Original investment: $800 at 6.12% $1,600 at 3.9%

future value 10 years $1,449 $2,346

future value 20 years $2,624 $3,439

future value 30 years $4,753 $5,042

future value 31 years $5,044 $5,238

future value 32 years $5,353 $5,442

future value 33 years $5,681 $5,655

It will take over 32 years for both investments to match their amounts.

to determine the approximate month we start with the future value in 32 years:

$5,353 $5,442

future value in 6 months $5,517 $5,548

future value in 9 months $5,599 $5,601

future value in 9 months

and 5 days $5,603 $5,604

future value in 9 months

and 8 days $5,606 $5,606

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3 years ago

On January 1, MM Co. borrows $340,000 cash from a bank and in return signs an 8% installment note for five annual payments of $8

Fiesta28 [93]

Answer:

Required 1

January 1

Cash $340,000 (debit)

Note Payable $340,000 (credit)

Required 2

$27,200 goes toward interest expense.

Explanation:

Issuance of the Note :

Assets of Cash are increasing, the Liabilities are also increasing.

Payment at December 31 :

The Annual Payment comprises of Capital Repayment and Interest Expense.

Prepare an amortization schedule using the details of the Note highlighted below to separate the Capital Repayment and Interest Expense Component :

PV = $340,000

PMT = - $85,155

N = 5

i = 8%

P/yr = 1

FV = $0

Note Schedule is attached !

Download pdf

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3 years ago