An idea isn’t really a proven concept, while a business opportunity is a proven concept you’ll likely make more money or whatever having a business opportunity.
Answer:
A)After the reversing entry is posted for the adjustment made to recognize the salaries expense at the end of the accounting period, the Salaries Expense account will have a zero balance and the Salaries Payable account will have a credit balance
Explanation:
Reversing entry can be regarded as
a journal entry which is been made during an accounting period, it
reverses selected entries that is been made during immediately preceding period. reversing entry typically take placeat the beginning of particular accounting period.
It should be noted thatReversing entries are;
1) made to reverse the effect of certain adjustments.
2) provide a way to guard against oversights, eliminate the review of accounting records, and simplify the entry made in the new period.
3)is the exact opposite (the reverse) of the adjustment.
Answer:
Closing balance of bed debts = $1,800
Explanation:
Given:
Opening balance of bed debts = $2,000
Uncollected receivables = $4,200
Bed debts during the year = $4,000
Closing balance of bed debts = ?
Computation of closing balance of bed debts:
Closing balance of bed debts = Opening balance of bed debts - Uncollected receivables + Bed debts during the year
Closing balance of bed debts = $2,000 - $4,200 + $4,000
Closing balance of bed debts = $1,800
Answer:
A. Company X pay bills in 19 days
Explanation:
Days Payable Outstanding indicates that the average payables are 19 days old. It is calculated by dividing the credit purchases by the average payables.
The other options are not valid due to following:
B: Company X has more equity than debt, this is negated by the Debt/ Equity ratio is 1.4 which indicates that the debt is 140 % ties of equity.
C: The Company pays bills in 20 days. It is negated by the Days payable outstanding which is 19.
D: Company pays interest in 12 days, is invalid as the Times Interest Earned indicates that the Company is earning 12 times its interest costs.
E: Company generates $ 3.10 in profit per dollar invested in assets is also not valid .