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3 years ago

Which account would be listed on a post-closing trial balance?

Business

1 answer:

Elis [28]3 years ago

7 0

Answer: c. Retained Earnings

Explanation:

The post-closing trial balance reflects balance sheet items that do not have a $0 balance in them when a period has ended and is prepared after the temporary accounts have been closed off. The purpose is to make sure that the debits equal the credits.

As there are no temporary accounts, all income statement items will have been closed off and moved to the Retained earnings account which will reflect the total for the income statement for the year. The only account that will be listed in the post-closing trial balance therefore will be the Retained earnings account.

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Argument or Nonargument

12345 [234]

Answer:

To focus on the performance...the country does poorly.

Explanation:

Argument or Nonargument

To focus on the performance of the stock market is to zero in on an economic indicator that can do well even as the country does poorly. In 2006, for instance, the Dow Jones industrial average hit highs. According to the just released census data, however, median earnings fell one percent, and millions more Americans entered the ranks of the uninsured. Indeed, from 2000 to 2007 the S&P 500 gained more than 500 points. Meanwhile, the median household income fell by more than $900.The conclusion is....

a) According to the just released..ranks of the uninsured.

b) To focus on the performance...the country does poorly.

c) In 2006, for instance, the Dow Jones...hit highs.

d) Meanwhile...fell by more than $900

The key is to focus on the performance...the country does poorly

4 0

3 years ago

Ketchen, Inc. provides the following information for 2018: Net income $290,000 Market price per share of common stock $70 pe

Alenkinab [10]

Answer:

Earnings per share = Net income/No of ordinary shares outstanding at the end of the year

Earnings per share = $290,000/240,000 shares

Earnings per share = $1.21

Therefore, Price-earnings ratio = Market price per share/Earnings per share

Price-earnings ratio = $70/1.21

Price-earnings ratio = 57.85

Explanation: First and foremost, there is need to calculate earnings per share by considering the net income and then divide it by the number of common stocks outstanding at the end of the year. Price-earnings ratio is obtained by dividing the market price per share by earnings per share.

5 0

3 years ago

What is money measurement concept

Mashutka [201]

like budgeting maybe I think

Explanation:

counting money determined by what u can spend vs what u can't

7 0

3 years ago

Even though money loses purchasing power during inflationary periods, people still choose to hold part of their wealth in the fo

KiRa [710]

Answer:

Money is an asset with the characteristics of liquidity

Explanation:

people still choose to hold part of their wealth in the form of money because money has characteristics of liquidity, that is, as an asset money can easily be accessed. And during inflation when prices of commodities have skyrocketed, more money would be required for business transactions. Money can easily be exchanged while doing any form of transaction.

3 0

3 years ago

Times Inc. is trying to develop an asset-financing plan. The firm has $540,000 in temporary current assets and $440,000 in perma

masya89 [10]

Answer:

Times Inc.

Conservative Aggressive

a) Annual interest payments $207,360 $184,275

b) Earnings After Taxes $127,584 $141,475

c) Annual interest payments $149,040 $172,125

Earnings After Taxes $162,576 $148,725

Explanation:

a) Data and Calculations:

Temporary current assets = $540,000

Permanent current assets = 440,000

Fixed assets = 640,000

Total assets = $1,620,000

Assumed tax rate = 40%

Conservative Aggressive

Financed by long-term sources 80% 56.25%

Long-term finance $1,296,000 $911,250

Short-term finance 324,000 (20%) 708,750 (43.75%)

Annual interest payments:

Long-term interest rate = 14% $181,440 $127,575

Short-term interest rate = 8% 25,920 56,700

Total annual interest payments $207,360 $184,275

b) Earnings before

interest and taxes $420,000 $420,000

Annual interest payments 207,360 184,275

Earnings before taxes $212,640 $235,725

Income taxes (40%) 85,056 94,250

Earnings After Taxes $127,584 $141,475

Annual interest payments:

Long-term interest rate = 8% $103,680 $72,900

Short-term interest rate = 14% 45,360 99,225

Total annual interest payments $149,040 $172,125

c) Earnings before

interest and taxes $420,000 $420,000

Annual interest payments 149,040 172,125

Earnings before taxes $270,960 $247,875

Income taxes (40%) 108,384 99,150

Earnings After Taxes $162,576 $148,725

5 0

3 years ago