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3 years ago

Which statement about journal entries in QuickBooks Online is true?

Business

1 answer:

IgorLugansk [536]3 years ago

7 0

Answer:

C. Your client can’t create an Adjusting Journal Entry.

Explanation:

In QuickBooks Online Accountant you (the accountant) make the adjusting journal entries, not your clients. It is like saying that you operate yourself while your doctor drinks coffee besides your bed.

the other options are wrong:

A. A Journal Entry cannot be used to account for depreciation of an asset. ⇒ FALSE, QuickBooks doesn't automatically depreciate an asset, the user must do this through journal entries.

B. The Accountant user can’t create an Adjusting Journal Entry in QuickBooks Online. ⇒ FALSE, when using QuickBooks Online Accountant you can create adjusting entries just like any other regular entry.

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Corporations with control both within and across industries are formed by a series of mergers and acquisitions across industries

Zielflug [23.3K]

Answer:

conglomerate

Explanation:

In simple words, A conglomerate refers to the multi-industry corporation, which is a mixture of many enterprises operating within one organizational group in completely different sectors, which can include a holding company and several branches.

The conglomerates are always global and massive. The predominant conglomerates consolidate financial risk through investing in a variety of different industries, although other conglomerates opt to engage in a single sector, like those in mines.

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3 years ago

Vandana shiva agrees that the green revolution has increased agricultural output and household incomes, but she is concerned abo

Anna11 [10]

<span>cultural, economic and environmental changes. The most one is environmental changes. The green revolution cause for excess use of chemicals and pesiticides that accelerated the rate of pollution and imabalance. The people will start a new culture of depending upon chemicals for agriculture which may negatively affect the very existence of nature.</span>

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3 years ago

Butte sold a machine to a machine dealer for $50,000. Butte bought the machine for $55,000 several year ago and has a claimed $1

pishuonlain [190]

Answer:

c. $7,500 ordinary gain

Explanation:

Depreciated value of Machine = $55,000 - $12,500

= $ 42,500

Sale price of Machine = $ 50,000

Gain on sale of Asset = $ 50,000 - $ 42,500

= $ 7,500

Therefore, The amount and character of Butte's gain or loss is $7,500 ordinary gain.

6 0

3 years ago

Gross Profit MethodBased on the following data, estimate the cost of the ending merchandise inventory:Sales (net) $1,450,000Esti

Mariulka [41]

Answer:

Ending inventory= $119,000

Explanation:

Giving the following information:

Sales (net) $1,450,000

Estimated gross profit rate of 42%

Beginning merchandise inventory $100,000

Purchases (net) 860,000

Merchandise available for sale $960,000

Cost of goods sold= 1,450,000*0.58= 841,000

Ending inventory= 960,000 - 841,000= 119,000

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3 years ago

The process of influencing people to work toward a common goal is.

ra1l [238]

Answer:

Leading/Leadership

Explanation:

Leadership inspires, influences and motivates people to work towards a goal and achieve it.

8 0

1 year ago