Answer:
3, 1, 4, 2
Explanation:
The adjustment are required so that any change in any account would be recorded in the books of accounts
The steps to record the adjustments is as follows
3. Determine the accounts requiring adjustment, using the unadjusted trial balance. Like supplies, insurance, rent, etc
1. Record the adjusting entries in the journal. Like supplies, insurance, rent, etc
For example, the adjusting entry for supplies account is
Supplies expense A/c Dr XXXXX
To Supplies A/c XXXXX
(Being the supplies expense is recorded)
4. Post the adjusting entries to the general ledger.
2. Prepare an adjusted trial balance to check the equality of the debits and credits. It includes all the adjusting entries that are recorded and the trial is always matched.
Answer:
your awnser is false if im wrong messages me:)
Answer:
$705
Explanation:
GDP is the monetary value or price of all finished goods ans services produced in a country or region in an specific period of time. To calculate it we use this formula:
GDP= Consumption (C)+Domestic Investment (I)+Governmet expenditures and income (G)+ Net Exports (total exports minus total imports) (NX)
In this case we have, Capital Consumption Allowance (CCA): the percentage of GDP that a country must spend each year to maintain the certain economic production level.
This account is used when we have an income approach of the GDP and when we calculte the net domestic product (NDP). This formula is used when we calculate NDP.
NDP= C+I+G+NX-CCA
And also we have a formula that incorporates NDP and GDP.
NDP=GDP-CCA ⇒ GDP=NDP+CCA
So, CCA must be added to NDP to obtain GDP.
The problem also have the concept of inventories. Inventories are a stock and GDP measures a flow of production. If we want to use inventories in the GDP calculation, the change in this stock must be included.
For this problem we calculate first the NDP
NDP=$500+$100+$50+($75-$40)
NDP=$685
Then we calculate the GDP
GDP=$685+$25
GDP=$710
Then we add the change in inventories which was a fallen by 5%
GDP=$710-$5
GDP=$705
Answer and Explanation:
a. A partner can report his share of the loss of partnership on his personal income tax return to the base limit during his or her partnership interest.
Its partnership interest is based on $45,000 and its share of loss of the partnership is $24,000
So W can report all of the $24,000 partnership loss on his personal income tax return.
b. W's partnership loss reported on his income tax return, and the cash distributed by the partnership to him will reduce his partnership interest base.
Now,
W's basis in his partnership interest at the end of 2014 is
= W's basis in his partnership interest - Partnership loss reported by W on his income tax return - Cash distributed to W by the partnership
= $45,000 - $24,000 - $12,000
= $9,000
