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Len [333]
3 years ago
10

Explain what ‘closing the ledger’ means

Business
1 answer:
Aneli [31]3 years ago
8 0

Explanation:

The purpose of the closing entry is to reset the temporary account balances to zero on the general ledger, the record-keeping system for a company's financial data. ... All revenue and expense accounts must end with a $0 balance because they are reported in defined periods and are not carried over into the future.

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Which of the following promotion mix approaches involves a producer promoting a product to different channel members who in turn
bulgar [2K]

Answer:

Push strategy

Explanation:

A Push strategy is originated from the push and pull concept in the logistics. This strategy refers to the concept of producers pushing their products into different channels and then those channels will further market and advertise their products. This strategy is one of the various channel strategies that is used by producers.

One of the example would be Walmart which uses push strategy over pull.

I hope the answer is helpful. Thanks for asking.

6 0
3 years ago
Which of the following is not allowed as an itemized deduction?
Readme [11.4K]
D) magazines can only be deducted if purchased for a business.
7 0
3 years ago
Read 2 more answers
Case company allocates $5 overhead to each unit produced. the company uses a plantwide overhead rate with machine hours as the a
posledela

Let Department 2 Machine hours Be x, and using the equation below. 

<span>Find  ATQ : </span>

<span>          5= (440000 + 245000) / (74000 + x)</span>

          => 370000 + 5x = 685000

          =>x = 63000

 

Therefore, there are 63,000 machine hours that the company expects in Department 2.

<span> </span>

6 0
3 years ago
A manufacturer of nickel-hydrogen batteries randomly selects 100 nickel plates for test cells, cycles them a specified number of
Aloiza [94]

Answer:

Explanation:

The calculation is shown in the picture attached

P-value > 0.05 it is concluded that the null hypothesis is not reject.

There is not enough evidence to claim that the more than 10% of all plates blister under such circumstances.

4 0
3 years ago
The preparation of a bank reconciliation is an important cash control procedure. If a company deposits cash receipts daily and m
castortr0y [4]

Answer & Explanation :

Bank Reconciliation Statement is prepared to reconcile (match) the differences between bank balance as per cash book & bank balance as per pass book, at end of an accounting period.  

The differences may arise because of following reasons :

  • Errors committed by firm or bank
  • Cheques paid but not collected, upto the last date (added in cash book, but not in bank balance)
  • Cheques issued but not yet presented for payment, upto last date (subtracted in cash book, but not in bank balance)
  • Direct expenses & direct incomes settled by bank (done in bank balance, but not in cash book)

BRS involves starting with balance as per any book - cash book or passbook. Then, the adjustments for mismatch are done, to arrive at correct balance as per the other book.

8 0
3 years ago
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