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Pani-rosa [81]
3 years ago
14

The following are some of the steps in the accounting cycle. Which of the following reflects the steps in the correct order? Fin

ancial statements are prepared. An unadjusted trial balance is prepared. Closing entries are journalized and posted to the ledger. Transactions are posted to the ledger. A post-closing trial balance is prepared.
Business
1 answer:
lukranit [14]3 years ago
7 0

Answer:

The correct answer is:

  1. Journalized business transactions are posted to the ledger.
  2. An unadjusted trial balance is prepared.
  3. Financial statements are prepared.
  4. Closing entries are journalized and posted to the ledger.
  5. A post-closing trial balance is prepared.

Explanation:

The following phases or stages are distinguished in the accounting process or cycle:

  1. Initial situation balance.
  2. Accounting opening.
  3. Record of the operations of the year.
  4. Periodification
  5. Adjustments prior to the determination of the benefit - or loss - generated in the year.
  6. Balance check sums and balances.
  7. Calculation of the result.
  8. Accounting closing.
  9. Annual accounts.
  10. Distribution of the result.
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Answer:

Check the explanation

Explanation:

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8 0
3 years ago
2. Fiscal policy Suppose a hypothetical economy is currently in a situation of deficient aggregate demand of $32 billion. Four e
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Answer:

For the Economist A the spending multiplier  is = 8, the tax multiplier = 4, the increase in spending is = $4 billion, the tax cut is = $8 billion.

For the Economist B, the spending multiplier is =4, the tax multiplier = 2, the increase in spending is = $8 billion, the tax cut is = $16 billion.

Explanation:

Solution

Given that:

(1)The Economist A

The Spending multiplier = 8

In closing the output gap of $32 billion, required increase in spending = $32 billion / 8 = $4 billion

Thus,

The tax multiplier = 4

To close output gap of $32 billion, required decrease in tax = $32 billion / 4 = $8 billion

(2)The Economist B

Now,

The spending multiplier = 4

To close output gap of $32 billion, required increase in spending = $32 billion / 4 = $8 billion

So,

Tax multiplier = 2

To close output gap of $32 billion, required decrease in tax = $32 billion / 2 = $16 billion

8 0
3 years ago
Carol Byrd gets a student rate of $30.00 a month. There is a $250 deductible; but no coinsurance payment. She recently received
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Answer: Company Pays $1640

Carol Bryd pays $410

Explanation:

The total bill is $2300 and the deductible needs to be taken out.

$2300-$250

=$2050

Company Payment.

Company Pays 80% which translates to 0.8

0.8*2050

= $1640 is the company Payment.

Carol then pays the difference which is

$2050 - $1640

= $410

Carol pays $410

6 0
3 years ago
Which of the following best represents the stream of income that is available to common stockholders?
dmitriy555 [2]
Greeting's!

<span>c. earnings before interest and taxes .
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7 0
3 years ago
The lifetime effects of lost wages, benefits, and social security contributions that come with taking time out of the workforce
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The lifetime effects of lost wages, benefits, and social security contributions that accompanies taking time out of the workforce to raise children is called the <u>mommy tax</u>.

<h3>What is a mommy tax?</h3>

A mommy tax is a terminology which was coined by the author Crittenden and it can be defined as the lifetime effects of lost wages, benefits, and social security contributions that a woman experiences by taking time out of the workforce to raise her children.

This ultimately implies that, a mommy tax is used to connote the motherhood penalty which is characterized by severe wage and hiring disadvantages for a woman in the workplace when taking time to raise children.

Read more on mommy tax here: brainly.com/question/1166652

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2 years ago
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