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ArbitrLikvidat [17]
3 years ago
5

Which of these represent the correct order of steps of the flow of accounting information? Prepare a trial balance. Analyze what

has happened by using the chart of accounts and information from the source documents. Post entries to the accounts in the general ledger. Enter the business transactions in the general journal.
Business
1 answer:
guapka [62]3 years ago
8 0

Answer:

1-Analyze what has happened by using the chart of accounts and information from the source documents.

2-Enter the business transactions in the general journal.

3-Post entries to the accounts in the general ledger.

4-Prepare a trial balance.

Explanation:

The flow of accounting information is also called accounting cycle. Is a collective process of recording and processing the accounting events of a company. The series of steps begin when a transaction occurs and end with its inclusion in the financial statements.

<em>- Analyze what has happened by using the chart of accounts and information from the source documents.</em>

The process starts with source documents which are the supporting original records of any transaction.

<em>- Enter the business transactions in the general journal.</em>

In the secod step, the transaction is registered in the journal, which is a chronological record of how the transactions affect the balances of applicable accounts.

<em>- Post entries to the accounts in the general ledger.</em>

In the third step, transactions are entered in the ledger.<em> </em>

<em>- Prepare a trial balance.</em>

The fourth step includes the preparation of the trial balance, which is a simple listing of all accounts from the ledger with their balances.

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Answer:

Option B -  There are significant diseconomies of scope is the correct answer.

Explanation:

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It might also be permitted if one of the firms is in financial trouble, or if significant economies of scale exist in the industry.

Significant diseconomies of scope would only serve to make the merger less likely to be accepted.

Therefore, option B is the correct answer.

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3 years ago
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According to the law of comparative advantage, both individuals and nations will be able to produce a larger joint output if eac
zzz [600]

Answer:

the low opportunity cost producer. 

Explanation:

A person or nation has comparative advantage in production if it produces at a lower opportunity cost when compared with other countries or people.

For example, let's assume country x produces either 10 Apples or 5 oranges in 1 hour while country y produces either 20 Apples or 2 oranges in one hour. The opportunity cost for country x of producing apples and oranges are 0.5 and 2 respectively. While for country y, the oopportunity cost of producing apples and oranges are 0.1 and 10 respectively.

Country y has an opportunity cost and comparative advantage in the production of Apples while country x has a comparative advantage in production of oranges.

I hope my answer helps you

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3 years ago
Martha and Oleg are competitors in a local market and each is trying to decide if it is worthwhile to advertise. If both of them
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Answer: Martha does not have a dominant strategy

Explanation:

A dominant strategy is one that a player can embark on and get the highest payoff regardless of the actions of their competitor.

In this scenario, there is no strategy that Martha can embark on that would provide the greatest payout regardless of Oleg's decision. If Martha advertises, Oleg makes the same amount advertising as well. If Martha does not advertise, Oleg would decide not to advertise as well and make the same amount.

Martha therefore has no dominant strategy as Oleg would make the same amount regardless of which decision is taken.

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3 years ago
Prepare journal entries to record the following production activities.
blagie [28]

Answer:

1.Dr Work in progress inventory75,000

Dr Payable Factory payroll 75,000

2. Dr Factory overhead 20,000

Cr Factory Payroll Payable 20,000

3. Dr Factory wages payable 95,000

(75,000+20,000)

Cr Cash 95,000

Explanation:

Preparation to record Journal entry

1. Since the amount of $75,000 was been Incurred of the direct labour production this means we have to record the transaction as :

Dr Work in progress inventory75,000

Dr Payable Factory payroll 75,000

2. Since the amount of $20,000 was Incurred of indirect labor in production this means we have to record the transaction as:

Dr Factory overhead 20,000

Cr Factory Payroll Payable 20,000

3. Since factory payroll was paid the transaction will be recorded as :

Dr Factory wages payable 95,000

(75,000+20,000)

Cr Cash 95,000

5 0
3 years ago
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