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KIM [24]
3 years ago
10

The accounting cycle starts with a.closing out the periodic accounts. b.recording the transaction based on the information in a

source document. c.preparing the financial statements. d.preparing the adjusting entries.
Business
1 answer:
saul85 [17]3 years ago
6 0

Answer:

letter b, recording the transaction based on the information in a source document

Explanation:

The "Accounting Cycle" follows a series of steps in order to assist the accounting transactions of a company or business. It starts with the "Transaction step" <em>(the first step</em>) where<u> </u><u><em>the source documents have to be examined in order to analyzed transactions.</em></u> This also includes the recording of the transaction in the journal.

This step is followed by <em>Posting the Entries into the Ledger Accounts, Preparing the Unadjusted Trial Balance, Adjusting the Journal Entries, Preparing the Adjusted Trial Balance, Recording Reversing Entries, Preparing Post-Closing Trial Balance, Record Closing of Entries and Preparing Financial Statements.</em>

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Andrew [12]

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Line gray

Explanation:

6 0
3 years ago
The natural rate of unemployment- also called full employment- means
nignag [31]

Answer:a

Explanation:

5 0
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Neal joins Filestene Inc. as an executive designer. The HR manager informs him that he will have to join the labor union within
Gnesinka [82]

Answer: (E) Union shop

Explanation:

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According to the given question, the Neal's human resource manager is basically referring to the union ship that is related to the union membership.    

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7 0
3 years ago
On January 1, 2011, The Miller Corporation purchased 300,000 shares of The Mayfair Corporation for $5.7 million. The investment
kow [346]

Answer:

2011 Value of investment in Mayfair

= Beginning investment value + Portion of Mayfair net income - Portion of Mayfair dividends

= 5,700,000 + (40% * 2,250,000) - (300,000 shares * 0.15)

= $‭6,555,000‬

2012 Value of investment

= Beginning investment value + Portion of Mayfair net income - Portion of Mayfair dividends

= 6,555,000 + (40% * -180,000) - (300,000 * 0.15)

= $‭6,438,000‬

7 0
2 years ago
When using the indirect method to determine cash flows from operating activities, an increase in prepaid expenses should be repo
Andrews [41]

Answer:

b. A deduction from net income in determining cash flows from operating activities.

Explanation:

An increase in prepaid expenses is deducted from Net Income. The reason behind it very simple and no rocket science is there. Lets take Insurance as a prepaid expense. You Paid in-advance for Insurance, it increase your current asset that is Prepaid Insurance BUT at the same time cash went out of the Business.

I hope I made it clear to you. If you still have any queries, feel free to ask me.

Thanks!

8 0
3 years ago
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