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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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Bramble Corp. recorded operating data for its auto accessories division for the year. Sales $790000 Contribution margin 260000 T
Andrei [34K]

Answer:

80%

Explanation:

For computing the return on investment first we have to need the following calculations

New contribution margin = Old contribution margin + increase  in contribution margin

= $260,000 + $30,000

= $290,000

And,

Net Income = Contribution margin - Total direct fixed costs

= $290,000 - $90,000

= $200,000

ROI = Net income ÷  average operating assets

= $200,000 ÷ $250,000

= 80%

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3 years ago
What are the following changes in trade would produce the greatest increase in GDP?
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3 years ago
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How can a court determine when a particular nickname for a branded product has entered into common use?
MakcuM [25]
It must establish that it has a valid mark entitled to protection and that the defendant used the same or a similar mark in commerce in connection with the sale or advertising of goods or services without the consent.
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1 year ago
When would someone be restricted from filing for bankruptcy?
Charra [1.4K]
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The United States’ central bank, the , holds the account balances of the country’s commercial banks. These are called .
kozerog [31]

Answer:

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Explanation:

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The Federal reserves use the reserves just as the commercial banks make use of customer deposits. 'Bank reserves' is another term that refers to commercial bank deposits.

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