Preparing a post-closing trial balance is the final step in the accounting cycle and happens after all accounts have been updated with finished journal entries.
<h3>Why is a Post Closing trial balance performed?</h3>
Post-closing trial balance: The post-closing trial balance is run behind closing entries that have been assembled and serve two purposes. It guarantees that debits and credits match while also confirming that temporary account credits have been reset to zero to begin the new accounting term.
The closing entry aims to reset the temporary account proportions to zero on the general ledger, the record-keeping system for a firm's financial data.
To learn more about the Post Closing trial balance visit the link
brainly.com/question/14562385
#SPJ4
The amount of interest to be paid in total for six and a half years is $59,357.31
Computation:
Given,
Principal Amount =$44,500
Interest rate =13.11% annually
The interest is compounded monthly
time period= 6.5 years
The formula of compound interest will be used:
Substituting the values in the formula:
Now, the value of total interest paid is computed by taking the difference between the annuity amount and the principal amount.
Therefore, from the given options non of the options are correct.
To know more about compound interest, refer to the link:
brainly.com/question/25857212
Low-income countries have cultures that value economic survival. These type of countries do not have a lot of high paying jobs and the job market is very unstable, so citizens find it imperative to have enough income to survive. These types of countries do not have much in the way of entertainment culture or pop culture, due to people having so little extra money to spend on both.
Answer:
B) 50%
Explanation:
Matthew's total return on investment = (current price - original purchase price) / original purchase price
= ($150 - $100) / $100 = $50 / $100 = 0.5 or 50%
To be able to determine the annual rate of return we would need to know when did Mathew purchase the shares.