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LuckyWell [14K]
3 years ago
15

A reversing entry is ________. Group of answer choices a journal entry used to close the temporary accounts after preparation of

financial statements a special journal entry used to make the adjustments that took place after preparing the trial balance a special journal entry that eases the burden of accounting for transactions in the next period a journal entry prepared at the end of an accounting period to match assets with liabilities
Business
1 answer:
quester [9]3 years ago
3 0

Answer:

The correct answer is the third option: a special journal entry that eases the burden of accounting for transactions in the next period.

Explanation:

To begin with, a <em>reversing entry </em>is the name given to a special journal entry in the accounting areas that focus on the action of reversing selected entries made in the inmediately preceding period in order to correct common human mistakes. Therefore that this type of entry has the intention of easing the burden of accounting for transactions in the next period by just noticing that is being used in the journal.  

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Wisconsin Farm Equipment Company sold equipment for cash. The income statement shows a loss on the sale of $ 10 comma 000. The n
tester [92]

Answer:

A. positive cash flow of $ 20 comma 900 from investing activities

Explanation:

book value - sales price = loss on sale

30,900 - sales price = 10,000

30,900 - 10,000 = sales price

sales price = 20,900

Assumming the purchase was on cash, it will be disclosure as cash generated from investing activities for 20,900

The reason is that cashflow do not focus on the gain or loss from the sale. It focus on the cash movements and this sale involve a cashinflow of 20,900

3 0
3 years ago
Thyme, Inc. owns 16,000 of Sage Co.'s 20,000 outstanding common shares. The carrying value of Sage's equity is $500,000. Sage su
DedPeter [7]

Answer:

The total non controlling interest after the additional shares are issued is equal to $252,000.

Explanation:

Before the issue Sage co's had 20,000 shares with total equity value of $500,000. After the issue of 5000 shares worth $200,000, the total number of shares and equity would be -

Total number of shares = 25,000 ( 20,0000 + 5000 )

Total equity value          = $700,000

Now Thyme inc owns 16,000 number of shares , which means that minority holds 9000 number of shares . Now the price per share would be =

       TOTAL EQUITY / NUMBER OF SHARES

         $700,000 / 25,000

=        $28

NON CONTROLLING INTEREST = Minority shares x Price per shares

                                                      = 9000 x $28

                                                      = $252,000

8 0
3 years ago
A self-directed team Select one:
Igoryamba

Answer:

d. makes all decisions internally about leadership and how the work is done and has the potential for high autonomy.

Explanation:

A self-directed team is a group of employees that works without a leader to reach an objective. As this team doesn't have a leader they work together to organize the job and set the rules and deadlines. This model give employees more responsability, increases satisfaction, and gives them autonomy. According to this, the answer is that a self-directed team makes all decisions internally about leadership and how the work is done and has the potential for high autonomy.

7 0
3 years ago
When GaGa began adding novelty bars in new flavors, what was the effect on the width and depth of its product mix?
Yanka [14]

Answer:

It increased the depth of their product mix.

The depth of the product mix is basically how many different types of variations of the same product are offered, e.g. Coke, Diet Coke, Coke Zero, etc. Increasing product depth involves new flavors, different package sizes or other specific characteristics regarding the product.

Product width refers to the different types of products offered by the company, e.g. Toyota offers sedans, trucks, SUVs, minivans. In this case, product width is not affected.

6 0
2 years ago
(for a job ). Everybody makes sexual remarks now and then.
Nonamiya [84]

Answer:

yup I think that tooooooo

5 0
2 years ago
Read 2 more answers
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