Answer:
The Final Step is 'post to a trial balance so financial statements can be prepared'
Explanation:
The accounting cycle has, in most theory analysis, 8 steps that will serve to record and process all financial transactions of a company, beginning at the transactions itself and ending at resetting the balance so a new cycle can begin. The steps are:
1) The occurrence of Financial Transactions
2) The record of those transactions in the company journal
3) The summary of all journal’s transactions in the general ledger
4) The calculation of a total balance for all accounts
5) The corrections of error in balances by the bookkeeper
6) The posting of adjustments in all accounts
7) The manufacture of financial statements using the correct balances
8) The close of revenue and expense accounts to open a new cycle
Answer:
B
Explanation:
If you're going to solve it ur going to need to know how it's going to effectively help don't just do it first think.
Answer:
Positive externality
Explanation:
In economics, there are generally two different types of externality named as a positive and negative externality.
Positive externality: In economics, the term "positive externality" is described as a phenomenon that occurs when the production or consumption of a specific good leads to create a benefit to any third party.
Example: A particular beekeeper who tends to keep the bees as they produce honey.
In the question above, the given statement represents positive externality.
Answer:
Mary can deduct $1,300 in year 1 for her points paid.
Explanation:
a) Data and Calculations:
April 1, Amount borrowed by Mary to refinance the original mortgage on her principal residence = $130,000
Payment of 1 points to reduce Mary's interest rate from 7% to 6% amounts to 1% of $130,000 = $1,300.
b) Mary paying 1 points is beneficial to her since her interest cost is reduced from 7% to 6%. This implies that her total finance cost at the end of the 30-year period will be reduced.
Answer:
11%
Explanation:
The computation of the annual rate of return is shown below:
Annual rate of return = Average annual income ÷average investment
where,
Average investment = (Initial investment + Salvage value) ÷ 2
= ($284,000 + $74,000) ÷ 2
= $179,000
And,
Average annual income is
= $60,490 - $40,800
= $19,690
So, the annual rate of return is
= $19,690 ÷ $179,000
= 11%
We simply applied the above formula
