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egoroff_w [7]
3 years ago
14

Adjusting entries are primarily needed for: Multiple Choice Cash-basis accounting. Accrual-basis accounting. Current value accou

nting. Manual accounting systems.
Business
1 answer:
zvonat [6]3 years ago
5 0

Answer:

The answer is Accrual-basis accounting.

Explanation:

in cash basis accounting, transactions are recorded exactly at the moment when the cash is received or paid. so there won't be any issue with receivables and payable and there won't be any clash between the accounting time period and the transactions.

But in accrual based accounting, there can be instances where the time period and the time of transaction collide. for an example, if the year ends at on Dec-31st and the payments for sales are due by then, it becomes a receivable and accounted for like that.

because of this, there could be mismatches or mistakes in the accounting process when it's done under the accrual basis.

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At Blossom Company, events and transactions during 2020 included the following. The tax rate for all items is 20%. (1) Depreciat
Arlecino [84]

Answer:

$99,200

Explanation:

Calculation to determine The effect of these events and transactions on 2020 income from continuing operations net of tax would be

Using this formula

Effect income from continuing operations net of tax=Strike loss amount-(Strike loss amount*Tax rate )

Let plug in the formula

Effect income from continuing operations net of tax=$124,000 - ($124,000 × .20)

Effect income from continuing operations net of tax=$124,000-$24,800

Effect income from continuing operations net of tax=$99,200

Therefore The effect of these events and transactions on 2020 income from continuing operations net of tax would be $99,200

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3 years ago
Which of the following describes a developing nation?
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<span>The one that describes a developing nation is A, a command economy with a low human development index. The developing country or also known as the industrialized nation is a sovereign express that has an exceptionally created economy and progressed innovative foundation with respect to different less industrialized countries.</span>
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3 years ago
Sadie and Ted must divide a stove, a hut, a chest, a nightstand, an igloo, and a trashcan. They assign points to each item as fo
Ulleksa [173]

Answer:

a. Ted gets the hut; Sadie gets the rest.

Explanation:

Since Ted placed a much more higher priority on the hut by assigning it 35 points more than all other items, and Sadie placed a very low priority on the hut by assigning it 10 points when compared to all other items, it shows Ted is ready to let go of other items just to have the hut, and Sadie is ready to let go of the hut to have the other item. Hence, the "Ted gets the hut, Sadie gets the rest" splits is efficient.

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What is organizational behavior in a organization​
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Answer:

Organizational behavior is the academic study of how people act inside of groups. Its principles are applied primarily in attempts to make businesses work more efficiently

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3 years ago
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Sam and Sandy have an agreement whereby Sam will build a house on Sandy's beachfront lot. Before construction begins, Sandy chan
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Sam and Sandy have an agreement whereby Sam will build a house on Sandy's beachfront lot. Before construction begins, Sandy changes her mind and decides she would rather build an addition onto her home in Baltimore. She discusses this with Sam, and they agree that he would build the addition to her home and not build the beach house. In this case, Sandy and Sam have an adjusted agreement.

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