Answer:
false
Explanation:
The United States government do make some monies available to individuals or organisation in the form of grants, for the achievement of set purposes or goals. Not everyone or organisation can be eligible for all the available grants at any time. People are expected to look through various application processes to know if they are legally eligible to apply for any grant in order to avoid wasting their time and money during application.
A test balance is used to detect any calculation error that may have occurred within the accounting system. For this, it is sought to verify if the total debits and the total credits are equal, for this the balance of all accounting books is compiled in column totals of both debit and credit. A company usually prepares a trial balance periodically, usually at the end of each reporting period.
In this case, to carry out the trial balance, you must first clarify the name of the company, the title of the trial balance and the date on which the trial balance is prepared, then proceed to list the ledger accounts and enter the debit and credit balances in the respective columns, then the columns are totalized and finally it is verified that the credit totals are equal to the debit totals
Answer
The correct order of the steps is (3), (2), (4) and (1)
Answer: PLease see answer below
Explanation:
Date Account title and explanation Debit Credit
Dec 31 Interest receivable $168
2021 Interest revenue $168
Calculation
Interest =Principal x time x rate
= 7,200 x 8% x 3.5 /12(15th september to 31st December)
=$168
Answer:
6.11%
Explanation:
For computing the variance, first we have to determine the expected return which is shown below:
= (Expected return of the boom × weightage of boom) + (expected return of the normal economy × weightage of normal economy) + (expected return of the recession × weightage of recession)
= (12% × 5%) + (10% × 85%) + (2% × 10%)
= 0.6% + 8.5% + 0.2%
= 9.30%
Now the variance would equal to the
= Weightage × (Return - Expected Return) ^2
For boom:
= 5% × (12% - 9.3%) ^2
= 0.3645
For normal economy:
= 85% × (10% - 9.3%) ^2
= 0.4165
For recession:
= 10% × (2% - 9.3%) ^2
= 5.329
So, the total variance would be
= 0.3645 + 0.4165 + 5.329
= 6.11%
