1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
qaws [65]
3 years ago
14

Closing entries and a post-closing trial balance are steps in the accounting cycle that occurA :  quarterly. B :  monthly. C : 

daily. D :  annually.
Business
1 answer:
zhannawk [14.2K]3 years ago
6 0

Answer:

The correct answer is letter "D": annually.

Explanation:

The trial balance is a worksheet where all the balances of all the accounts are listed where the sum of all debits must equal the sum of all credits. The trial balance is an accuracy check reflecting the transactions in the general ledger were recorded correctly.

The post-closing trial balance lists the permanent account balances that the company has to transfer for the next accounting period. Both the trial balance and the post-closing trial balance are reported once a year before preparing the company's financial statements.

You might be interested in
Some schools provide free breakfast go to all students rather than to those who face food insecurity because offering to it all
snow_lady [41]

Answer:very true

Explanation:

5 0
3 years ago
Warner Corporation purchased a machine 7 years ago for $405,000 when it launched product P50. Unfortunately, this machine has br
maxonik [38]

Answer:

1. $46,550

2. $405,000

3. $450,600

Explanation:

1. Computation of differential cost regarding the decision to buy the model 200

Differential cost = Cost of a new model 300 - Cost of a new model 200

Differential cost = $396,350 - $349,800

Differential cost = $46,550

So, the differential cost regarding decision to buy model 200 is $46,550.

2. Sunk costs are the costs which are already incurred by the entity in the past and which are not relevant to decision made today. In this case, sunk cost is the cost of the machine purchased seven years ago for $405,000.

3. Opportunity cost is the profit forgone by chosen alternative course of action. In this case, the Opportunity cost regarding the decision to invest in the model 200 machine is $450,600.

6 0
4 years ago
Society suffers a deadweight loss in a pure-monopoly market because
nekit [7.7K]
A pure-monoply means that a company does not have to compete with other producers within the market. Since they aren't competing with a good or service, they aren't competing with each others customers either. When a company does not have to compete on price/customers they may end up being greedy and have market failure. 
8 0
3 years ago
From 1960 until 2012, the long-run average rate of inflation in the united states was
o-na [289]
The average is about 3 percent I got to say thats good
6 0
3 years ago
Many politicians have degrees in business or law. true or false?
Andrei [34K]

The answer is mostly True.

4 0
3 years ago
Other questions:
  • Olivia makes a negative statement about her employer on her social media account. Her manager sees it and fires her for violatin
    8·1 answer
  • Oil Well Supply offers a 8 percent coupon bond with semiannual payments and a yield to maturity of 8.73 percent. The bonds matur
    11·1 answer
  • A(n) ____________________________ exists to promote the sales of a particular manufacturer’s products.
    14·2 answers
  • Fill in the blank: The best way to achieve a short-term money goal is to _______.
    8·2 answers
  • Hewlett and Martin are partners. Hewlett's capital balance in the partnership is $60,500, and Martin's capital balance $57,500.
    5·1 answer
  • On June 8, Williams Company issued an $87,600, 9%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is th
    5·1 answer
  • Briefly explain the weaknesses of the RSA's Industrial Development Zones?
    13·1 answer
  • Is every leader a manager? Is every manager a leader? What skills do managers and leaders share? What skills make them different
    11·1 answer
  • Charles is going to purchase a new car that has a list price of $21,450. He is planning on trading in his good-condition 2004 Do
    5·1 answer
  • A farmer and an investor negotiate a Futures Contract where Tomatoes will be sold
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!