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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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<u>Solution and Explanation:</u>

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Required Return after 5 year = 5+2+4

Required Return after 5 year =11%

No of year left to maturity = 25

Annual Interest payment = 15%*1000 = 150

Face value of Bond = 1000

New price of the bond = pv (rate, nper, pmt, fv)

New price of the bond = pv (11%,25,150,1000)

New price of the bond = $ 1336.87

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Why is it relevant that finance tends to attract large amounts of money? a. Money can be used for good or evil b. Finance attrac
SpyIntel [72]

Answer: c. Financial markets are a critical components of economic success

Explanation:

Economic success runs on companies and individuals being able to produce goods and services for the economy. To be able to do so they need capital to invest and most times they don't have that capital.

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3 years ago
List the characteristics typical of a c corporation
Svet_ta [14]

Answer:

The five main characteristics of a c corporation are:

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  3. double taxation: owners of the corporation suffer from double taxation because first the corporation must pay corporate taxes and then the owners must pay income taxes when they receive dividends.
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Explanation:

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Suppose Megan is considering emigrating from her home country.
Evgen [1.6K]

Answer:

a. emigrate

b. more

Explanation:

Immigration attractiveness is a factor that draws immigrants to a foreign country.  A country becomes more attractive when the economic prospects are brighter than at the home-country.  The degree of immigration law enforcement also helps to either attract or deter potential migrants.  In recent years, wars and misgovernment have propelled millions to move boundaries.  At the same time, countries are imposing migration restrictions by imposing and implementing strict laws.

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3 years ago
At December 31, 2020, Carter Company had 450,000 shares of common stock issued and outstanding, 350,000 of which had been issued
Dennis_Churaev [7]

Answer:

$3.03

Explanation:

Calculation to determine What should be Twin Rivers' 2020 earnings per common share,

Using this formula

Earnings per common share=

Net Income for 2020/Weighted Average Shares Outstanding

Let plug in the formula

Earnings per common share=$1,160,000/ [(350,000 x 8/12) + (450,000 × 4/12)]

Earnings per common share=$1,160,000/(233,333+150,000)

Earnings per common share=$1,160,000/383,333

Earnings per common share= $3.03

Therefore What should be Twin Rivers' 2020 earnings per common share is $3.03

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