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
Vladimir79 [104]
3 years ago
14

Which of the following depicts the proper sequence of steps in the accounting cycle?

Business
1 answer:
ycow [4]3 years ago
5 0

Answer:

Option D. Prepare a trial balance, prepare adjusting entries, prepare financial statements

Explanation:

The accounting cycle sequence is given as under:

  1. Analyzing the business
  2. Journalize the Transactions
  3. Post to Ledger Accounts
  4. Prepare a Trial Balance
  5. Posting adjusting entries and Preparing an adjusted trial balance
  6. Preparing the financial statements
  7. Journalize and post closing entries
  8. Prepare a post closing trial balance and financial statement

So we can see that the three steps highlighted above are the sequence shown in the option D. Hence option D is correct.

You might be interested in
Bob Jensen Inc. purchased a $650,000 machine to manufacture specialty taps for electrical equipment. Jensen expects to sell all
wolverine [178]

Answer:

?????????????????????

Explanation:

5 0
3 years ago
What was the opportunity cost in a situation in which you use your available cash to buy gas for your car and then stay hungry t
Elodia [21]

Answer:

see below

Explanation:

Opportunity cost is the sacrificed benefit by choosing a preferred option over others. The value of opportunity cost is the foregone benefit from the best alternative.

In this situation, the person had to choose between buying gas for the car or using that money to purchase food. Since the person opted to buy gas, they sacrificed having a meal for the rest of the day.  The pleasure derived from eating is the opportunity cost for this person.  

4 0
2 years ago
You just took out a​ $12,000 loan for your small business. the loan has a four year term and repayment is in the form of four eq
umka2103 [35]
Answer:  $403.20

Explanation:


We use a mortgage calculator to calculate the interest paid in the final payment. Since each repayment is made at the end of year, the repayments are annual payments. So, the calculator should have an annual amortization schedule to solve the problem.

I used http://www.calculator.net/loan-calculator for the calculation because it has an annual payment schedule. Then, I went under the subtitle Paying Back a Fixed Amount Periodically because the payments are equal. In that online calculator, I just input these data:

- Loan Amount: $12,000
- Loan Term: 4 (Loan term is number of years to pay the loan)
- Interest Rate: 11.5%
- Compound: Annually (APY) 
- Pay Back: Every year

Then, I clicked the calculate button and view amortization table. The annual amortization schedule is attached in this answer. 

To determine the interest paid at the final payment, I looked at payment #4 because the final payment is at the 4th year. (The loan is paid in 4 annual payments).

As seen in the attached image, the interest paid in payment #4 is $403.20. Hence, the interest paid in the final payment is $403.20.

3 0
3 years ago
XYZ Development, Inc. leases commercial space to businesses. Most of the leases are long-term, from five to fifteen years in len
prisoha [69]

Answer:

B. Escalator Clause

Explanation:

An escalation clause is a clause in a lease or contract that guarantees a change in the agreement price once a particular factor beyond control of either party affecting the value has been determined. An important example of this is a contract that adjusts for inflation.

4 0
3 years ago
The controller of Crane Industries has collected the following monthly expense data for use in analyzing the cost behavior of ma
Anna [14]

Answer:

Variable cost per unit= $6.6 per unit

Explanation:

Giving the following information:

January: $2,880 330

February: $3,180 380

March: $3,780 530

April: $4,680 660

May: $3,380 530

June: $5,520 730

To calculate the unitary variable cost, we need to use the following formula:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (5,520 - 2,880) / (730 - 330)= $6.6 per unit

4 0
3 years ago
Other questions:
  • An online savings account A) offers lower interest rates because it costs more money to maintain the online site B) offers highe
    14·1 answer
  • Vacation Pay and Pension Benefits Regling Company provides its employees vacation benefits and a defined benefit pension plan. E
    11·1 answer
  • The ________ run by the u.s. department of labor enables public employment agency counselors to advise applicants about local an
    11·1 answer
  • Roughly what portion of u.s. total health spending is paid for by private and public insurance?
    9·1 answer
  • Quantitative Problem: You need $11,000 to purchase a used car. Your wealthy uncle is willing to lend you the money as an amortiz
    12·1 answer
  • During 2020, Whispering Winds Corp. reported net sales of $4,502,400 and net income of $1,510,000. Its balance sheet reported av
    6·1 answer
  • When preparing the statement of cash flows using the indirect​ method, a decrease in current liabilities is added to the net inc
    6·1 answer
  • Suppose a small manufacturing business wishes to have a system to manage all its vital business operations, they should go for a
    14·1 answer
  • Which statement is true about popular culture and stereotypes?
    10·1 answer
  • 1) The Johnson Manufacturing Co. has an annual operating budget of $750,000. Each year it budgets for the following expenses: po
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!