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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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Select the appropriate response tim is confined to a nursing home but doesn't have a terminal illness. which life insurance ride
liubo4ka [24]

I believe the answer is: Long Term Care Benefit rider

Long Term Care Benefit rider would obtain a certain amount of benefit if somehow they require direct daily care when unable to provide it for themselves. But the amount of benefit that is given usually would be deducted from the amount of  the insured's death benefit.

3 0
3 years ago
you purchased one hundred shares of AT&amp;T stock. The company pays 20 cents per share to each share holder (That’s you!) at th
nlexa [21]

Answer:

Dividends

Explanation:

3 0
3 years ago
Shareholders in Frontier Communications were not pleased to learn that the company's market share had changed from 40 to 21 perc
Alja [10]

Answer:

47.5\%

Explanation:

Given: The company's market share had changed from 40 to 21 percentage points.

To find: percent change in market share

Solution:

Change in percentage of company's market share =40-21=19

Percent change in market share = (Change in percentage of company's market share ÷ 40) × 100

=\frac{19}{40}(100)=47.5\%

6 0
3 years ago
Morganti corporation sells a product for $170 per unit. the product's current sales are 41,800 units and its break-even sales ar
ololo11 [35]
To find the margin of safety in dollars, subtract the breakeven sales from the budged or actual sales. 

Current sales are 41,800 units 
Break even point in units is 33,900
Cost per unit is $170

(33,900)($170) = $5,763,000
(41,800)($170) = $7,106,000

The margin of safety in dollars is:
$7,106,000 - $5,763,000 = $1,343,000
3 0
3 years ago
Dumphy and Funke are rival tattoo artists in the small town of Feline. There are no other tattoo artists in town. It costs $30 t
inysia [295]

Answer:

<u>Part a:  What will be the equilabrium price that Dumphy and Funke will charge?</u>

Answer: Price charged = $30

<u>Part b: What are the profits for Dumphy and Funke at the equilibrium price?</u>

Answer: Profit on equilibrium price = $0

<u>Part c: What type of competition would Funke and Dumphy likely engage in after the decrease in demand?</u>

Answer: Price competition

Explanation:

<u>Part a:  What will be the equilabrium price that Dumphy and Funke will charge?</u>

Answer:

Price charged by each of the artists will be equal to their marginal cost.

Thus, equilibrium P = MC = $30.

<u>Part b: What are the profits for Dumphy and Funke at the equilibrium price?</u>

Answer:

Equilibrium profits will be 0 at the equilibrium because price charged is equal to MC, leading to no profits.

<u>Part c: What type of competition would Funke and Dumphy likely engage in after the decrease in demand?</u>

Answer:

Price competition - as changes in price will lead to changes in demand and thus sales

5 0
3 years ago
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