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2 years ago

If a business closes its accounts only at year-end

Business

1 answer:

Levart [38]2 years ago

3 0

Answer:

The correct answer is letter "D": Revenue and expense accounts reflect year-to-date amounts throughout the year.

Explanation:

Most firms close their accounts by the end of the year because of accounting reporting purposes. It does not imply throughout the year the firm will not be able to make reports of their performance. They actually can but closing the account relevant for the report requested. <em>By closing the accounts only by the end of the year, the revenue and expense accounts will show annual calculations in the upcoming period books.</em>

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. Jeff works as a computer repair technician. He has money in a savings account and he owns some stock. What types of income doe

Alex17521 [72]

I think the correct answer from the choices listed above is the last option. H<span>e earns a salary from his work, interest on his savings account, and dividends on his stock holdings. Hope this answers the question. Have a nice day.</span>

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2 years ago

Functions of Financial Markets. Look back at Section 2.3 and then answer the following questions: (LO2-3) a. The price of Yum! B

Aleonysh [2.5K]

Answer:

It seems that someinformation is missing, nevertheless, it is possible to calculate the market value of the firm if you have the total number of shares.

Explanation:

In this case, if the question says that the "outstanding shares" haven't changed, it means that the total number of shares neither, therefore it is possible to get the market value by multiplying $180 (the stock price for 1 share) per the total number of shares

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2 years ago

Alamo Inc. had $300 million in taxable income for the current year. Alamo also had a decrease in deferred tax assets of $30 mill

scoray [572]

Answer:

$ 210 million

Explanation:

Data provided :

Taxable income for the current year = $ 300 million

Tax rate of the income = 40%

therefore, the income tax for the current year = 0.40 × $ 300 million

the income tax for the current year = $ 120 million

Decrease in the deferred tax assets = $ 30 million

Increase in the deferred tax liabilities = $ 60 million

Hence,

the total income tax expense for the year

= $ 120 million + $ 30 million + $ 60 million

= $ 210 million

7 0

3 years ago

With respect to how economists study the economy, which of the following statements is most accurate?a. Economists study the pas

NARA [144]

Answer:

c. Economists devise theories, collect data, and analyze the data to test the theories

Explanation:

Economists use past data to predict the future.

They make use of sound economic theory instead of rule of thumb to predict the future.

I hope my answer helps you

4 0

2 years ago

The current assets of Sheridan Company are $292400. The current liabilities are $116960. The current ratio expressed as a propor

Varvara68 [4.7K]

The current ratio expressed as a proportion is 2.5

Explanation:

Given :

The current assets = $292400

The current liabilities are $116960.

To find :

The current ratio

Solution :

Current Ratio =

$\sf{\dfrac{Current \: Assets }{Current \: Liabilities}}$

$\sf{\implies{\dfrac{292400}{116960}}}$

$\implies$ 2.5

Therefore, The current ratio expressed as a proportion is 2.5

4 0

2 years ago