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anastassius [24]
3 years ago
8

Adjusting entries are made after the preparation of financial statements ​t/f

Business
1 answer:
Natalka [10]3 years ago
8 0

Hi there,

Glad to be helpful.

Adjusting entries are actually what go into the books. They are similar to journal entries, but are plugged into the general ledger. Therefore, it is impossible that they go before the financial statements which are the balance sheet, income statement, etc - those are entirely dependent on the general ledgers and adjusting entries.

Therefore,

<u>FALSE! </u>

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Which of the following is true of the Heckscher-Ohlin theory? Multiple Choice
Dominik [7]

Answer: Option (C) is correct.

Explanation:

The Heckscher-Ohlin theory is based on the cause of comparative advantage and explains that it is the difference in the factor endowments among the countries that is the main cause of international trade.

Heckscher-Ohlin theory says that a country exports the commodity whose production requires the intensive use of nation's relatively abundant and cheap factor and a country imports the commodity whose production requires intensive use of nation's relatively scarce and expensive factor.

4 0
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In September 1963, the first issue of the comic book X-MEN was issued. The original price for that issue was $0.12. By September
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Answer:

The workings of the answer are below;

Explanation:

Cost of purchase         A                            $0.12

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Total Gain on sale     C=B-A         $492,937.38

Average annual gain over 56 year=$492,937.38/56=$8,802.45

7 0
3 years ago
Julio is the owner of Party Pros, Inc., a party supply company. The company provides tents, tables, chairs, and related products
Setler [38]

Answer:

Line organization

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Based on the information provided within the question it can be said that in this scenario it is pretty clear that Party Pros Inc. is using a Line organization model. This approach focuses on a business model where authority in the organization flows from the top to the bottom. Without seeing the Celebration's organization chart it is clear this is the case because Julio is the owner of the company, meaning there is one individual in charge and the organization is giving the orders from up top to hire more personnel and departmentalize

3 0
4 years ago
Which of the following represents the normal sequence in which the below budgets are prepared? a. Sales budget, budgeted balance
zloy xaker [14]

Answer:

c. Sales budget, budgeted income statement, budgeted balance sheet

Explanation:

First, we calculate the sales for the period. It would also calculatethe cash proceeds from sales, which will be useful for the balance sheet.

With that, we can plug sales revenue into the income statement and calcualte the net income.

And with the income statement, we can solve for retained earnings and build up the balance sheet. Among other data

Doing it in any other order, we are going to leave blanks and need to do the next one to fill them. In the proposed orde,r we do not need information from the subsequent budget to complete the previous one, which is good.

6 0
3 years ago
Chris has three options for settling an insurance claim. Option A will provide $1,500 a month for 6 years. Option B will pay $1,
Papessa [141]

Answer:

  • <u><em>Option B. $1,025 a month for 10 years.</em></u>

Explanation:

Calculate the present value of each option:

     \text{Monthly rate: } 6.8\%/12 = 0.068/12 = 0.005\overline 6

Formula:

        PV=C\times \bigg[\dfrac{1}{r}-\dfrac{1}{r(1+r)^t}\bigg]

Where:

  • PV is the present value of the constant monthly payments
  • r is the monthly rate
  • t is the number of moths

<u>1. Option A will provide $1,500 a month for 6 years. </u>

         PV=$\ 1,500\times \bigg[\dfrac{1}{(0.005\overline 6}-\dfrac{1}{0.005\overline 6(1+0.005\overline 6)^{(6\times12)}}\bigg]

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<u>2. Option B will pay $1,025 a month for 10 years. </u>

         PV=$\ 1,025\times \bigg[\dfrac{1}{(0.005\overline 6}-\dfrac{1}{0.005\overline 6(1+0.005\overline 6)^{(10\times12)}}\bigg]

         PV=\$ 89,068.22

<u>3. Option C offers $85,000 as a lump sum payment today. </u>

<u></u>

  • PV = $85,000
<h2 /><h2> Conclusion:</h2>

The present value of the<em> option B, $1,025 a month for 10 years</em>, has a the greatest present value, thus since he is only concerned with the <em>financial aspects of the offier</em>, this is the one he should select.

3 0
3 years ago
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