Answer:
Hello! Your answer shall be, BELOW
Explanation:
Preparing a trial balance for a company serves to detect any mathematical errors that have occurred in the double-entry accounting system. If the total debits equal the total credits, the trial balance is considered to be balanced, and there should be no mathematical errors in the ledgers.
A Trial Balance is prepared to check whether the debit balance FOR the credit balance, which is the primary goal of accounting?
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A "budget" is a plan in which an individual balances available resources and expenses.
Budgeting is the essential way that you can take control of your accounts. Basically, a budget is a composed arrangement for how you will spend your cash. You can make a month to month or a yearly spending plan. The budget enables you to settle on money related choices early, which makes it less demanding to cover every one of your costs consistently. Budgeting reliably can enable you to turn your accounts around and start to fabricate riches.
Answer:
$9,400
Explanation:
The computation of ending balance in the Allowance for Doubtful Accounts account is shown below:-
The ending balance in the Allowance for Doubtful Accounts account = Net credit sales × Bad debt losses + Unadjusted credit balance
= $190,000 × 3% + $3,700
= $5,700 +$3,700
= $9,400
Therefore for computing the ending balance in the Allowance for Doubtful Accounts account we simply applied the above formula.
Answer:
$1,667
Explanation:
Given that,
Savings account at the beginning of the year = $2,000
Price level at the beginning of the year = 100
Price level at the end of the year = 120
Price level increases from 100 to 120
Therefore, what was worth $120 earlier, is not worth only $100.
Hence, $120 at the beginning of the year is worth = $100 at the end of the year
$1 at the beginning of the year is worth = ($100 ÷ $120) at the end of the year
Savings of $2,000 at the beginning of the year is worth:
= ($100 ÷ $120) × $2,000
= 0.833 × $2,000
= $1,667
Therefore, the real value of the savings is $1,667.
