All categories

4 years ago

What is the major difference between the post-closing trial balance and the other two trial balances?

Business

1 answer:

lapo4ka [179]4 years ago

4 0

Answer:

d.The post-closing trial balance is the only one to include only real accounts.

Explanation:

Post closing trial balance is prepared after providing for all the adjustments pending in the first raw trial balance.

Thus, it only represents the real accounts, as only real accounts have the balance to be carried forward, all the expenses and incomes are not real accounts and are thus, closed, and no carrying balance.

Whereas, all other trial balances will have the other accounts outstanding as well.

Thus, only statement D is correct in disclosing the difference between various trial balances.

You might be interested in

A factor that has been associated with the incrase in income inequality in the united states is:________.

Oksanka [162]

Answer:

The correct answer is: Technology.

Explanation:

Even though technology has brought humanity different advantages that are changing history, when it comes to income inequality it might represent a factor that increases it. That is because the technology requires highly trained personnel for handling certain equipment. That personnel has higher payments than average workers. Education and job training are proposed as possible solutions for this issue.

3 0

4 years ago

Please help. Describe how stocks are purchased by investors.

attashe74 [19]

Answer:

Investors most commonly buy and trade stock through brokers. You can set up an account by depositing cash or stocks in a brokerage account. Firms like Charles Schwab and Citigroup's Smith Barney unit offer brokerage accounts that can be managed online or with a broker in person.

5 0

3 years ago

Crane Company had 790000 shares of common stock outstanding on January 1, issued 121000 shares on May 1, purchased 60000 shares

Digiron [165]

Answer:

The weighted average shares outstanding for the year is 859,000.

Explanation:

Jan.1: outstanding shares 790,000: (790,000 x 12) = 9,480,000

May.1: Issued additional 121,000 shares: (121,000 x 8) =968,000

Sep.1: Purchase 60,000 shares of T.S: (60,000 x 4) = (240,000)

Nov.1: Issued additional 50,000 shares: (50,000 x 2) =100,000

= 10,308,000

Note: We take the number of months from the transaction date to the months remaining in the year end.

Weighted Average Outstanding Shares = 10,308,000

Weighted Average Outstanding Shares = 859,000

5 0

3 years ago

Read 2 more answers

Although most alexandria staff are voracious readers, no one has read all of the books sold by alexandria and most know some are

Mila [183]

Identify a rich directory and hyper-social knowledge management as the best system to make Alexandria's employees' knowledge accessible. These are the best ways to share employee expertise.

8 0

3 years ago

Which of the following is a way to make your mission statement the best it can be?

NeX [460]

Revise the mission statement as conditions change and the business climate evolves.

3 0

4 years ago