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3 years ago

Which step in the process of measuring external transactions involves assessing the equality of

Business

1 answer:

uysha [10]3 years ago

6 0

Answer:

B. Preparing a trial balance

Explanation:

A trial balance is not account, it simply represents a list of debits and credits derived from the ledgers. The list is usually generated after transactions have been taken from their source documents, posted to the journals and then transferred to the ledgers.

The trial balance will usually list the total of ledger items posted as debit or credit balances just as they are in the ledgers.

As said earlier, the trial balance is not an account, it is a self-check to ensure that there are no numerical errors in the debit and credit postings in the ledgers.

It simply ensures that the credit balances are equal to the debit balances meaning every debit entry had a corresponding credit entry confirming the use of double entry principle in ledger preparation.

The financial statements are usually prepared after the trial balance has verified the accuracy of debit and credit entries.

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Which type of stock pays a fixed dividend, receives first priority in dividend payment, and maintains the right to a dividend pa

sergeinik [125]

Answer:

Cumulative preferred

Explanation:

Cumulative preferred stock pays a fixed dividend, receives first priority in dividend payment, and maintains the right to a dividend payment, even if that payment is deferred.

This means that in cumulative preferred stock, If the past dividends was excluded for any reason, they should be paid to the preferred stockholders instead of the common shareholders.

7 0

3 years ago

Lambda Computer Products competed for and won a contract to produce two prototype units of a new type of computer that is based

deff fn [24]

Answer:

$1,330,102.50

Explanation:

first unit produced by lambda took 5,000 hours to produce and required $250,000 worth of material, equipment usage, and supplies

the second unit took 3,250 hours and used $187,500 worth of materials, equipment usage, and supplies

learning rate = time needed to produce second unit / time needed to produce first unit = 3,250 hours / 5,000 hours = 65%

materials and equipment usage rate = $187,500 / $250,000 = 75%

using the attached table of cumulative values, we can determine the cumulative improvement factors needed to solve this question:

Lambda's accumulated cost for producing 10 more computers

work hours = 3,250 x 4.341 (65% and 10 units) x $20 per hour = $282,165
materials and equipment = $187,500 x 5.589 (75% and 10 units) = $1,047,937.50
total = $282,165 + $1,047,937.50 = $1,330,102.50

5 0

3 years ago

Name and describe the four basic types of fees and cost a franchise owner must pay

laila [671]

Light,water bills yeah that’s all

8 0

3 years ago

Seemore Lens Company (SLC) sells contact lenses FOB destination. For the year ended December 31, the company reported Inventory

arsen [322]

Answer and Explanation:

The Preparation of the table that shows the balances from a to d points is shown below:-

Particulars Inventory Cost of goods sold

For the year ended Reported

on December 31 $85,000 $450,000

a. Less: Lenses held on

consignment ($13,000)

b. Less: Office supplies ($6,500)

c. Add: Lenses in the

warehouse $9,500 ($9,500)

d. Less: Inventory which is damaged with

no scrap value ($3,750)

Balance $71,250 $440,500

Therefore to reach the balance of inventory we simply added the reported ended on Dec 31 and lenses which is in warehouse and deduct the lenses held on consignment, office supplies and inventory which is damaged with no scrap value on the other hand to reach the cost of good sold we simply deduct the lenses in the warehouse from the year ended which is reported on Dec 31.

Also the explanation from a to d is shown below:-

a. Goods kept on consignment shall form part of the inventory of consignors until such time as they are sold. And when recording it should be removed from the inventory of consignees.

b. Office supplies are not part of an inventory firm

c. Sold items that are in the seller's hands and yet to be supplied (risk is still with the seller) are exempt from revenue and included in the inventory of companies.

d. Damaged, non-returnable items should be eliminated from inventory and reported as loss.

7 0

3 years ago

The top five cities where venture capitalists are investing their money represent 10% of the global total.

sergey [27]

it is false statement that the top five cities where venture capitalists are investing their money represent 10% of the global total.

<h3>What is a Venture capital?</h3>

This refers to the managerial expertise provided by investors to startup firms with long-term growth potential.

However, it is false that the top five cities where venture capitalists are investing their money represent 10% of the global total.

Therefore, the statement is a false statement.