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laiz [17]
3 years ago
5

True or False. A post-closing trial balance is a list of all accounts and their balances after we have updated account balances

for adjusting entries.
Business
1 answer:
kotegsom [21]3 years ago
7 0

Answer:

True

Explanation:

There are two columns in the trial balance, namely columns of debits and columns of credits. It is always important to balance the total debit and credit columns. The debit columns reflect assets and expenses side while sales, stockholder equity, and the liability side are listed in the credit column.

After passing the adjusting entries, the account balances are updated which we called a post-closing trial balance

So, the given statement is true

You might be interested in
32,500 shares of common stock outstanding at a price per share of $80 and a rate of return of 12.95 percent. The firm has 7,350
pashok25 [27]

Answer:

WACC = 11.1%

Explanation:

The weighted Average cost of Capital is the average cost of capital for the different sources of long-term capital available to a firm weighted according to the proportion each source of finance bears to the total capital in the pool.

<em>Market of securities</em>

Common stock =  $80 × 32,500=  2,600,000.  

Preferred stock = $95.50 ×  7,350=   701,925.00  

Bond = 407,000/100 × 111.5= 453,805.00  

<em>Cost of each capital type</em>

Common stock= 12.95

Preferred stock = (7.90%× 100)/95.50= 8.3%

Bond= 8.11%× (1-0.4)=4.87%

<em>WACC</em>

Type                      Market Value          Cost           Market value  cost

Common stock   2,600,000.              12.95%         336,700.00  

Preferred            701,925.00              8.3%             58,065.00  

Bond                   4<u>53,805.00  </u>           4.87%            <u>22,100.30 </u>

Total                    <u>3,755,730.00</u>                               <u>  416,865.30</u>  

WACC = (416,865.30  / 3,755,730.00) ×  100

       = 11.1%

WACC = 11.1%

4 0
3 years ago
Machinery purchased for $64,200 by Sheridan Co. in 2016 was originally estimated to have a life of 8 years with a salvage value
ArbitrLikvidat [17]

Answer:

Sheridan Co.

a. It is not necessary to correct the prior year's depreciation.  Depreciation is an accounting estimate and does not require the adjustment of prior year's accounts when there is a correction in its estimates.

b. Entry to record depreciation for 2021:

Debit Depreciation Expense $4,387

Credit Accumulated Depreciation $4,387

To record the depreciation expense for the year.

Explanation:

a) Data and Calculations:

Purchase of machinery in 2016 = $64,200

Original estimated useful life = 8 years

Salvage value = $4,280

Depreciation amount = $59,920 ($64,200 - $4,280)

Depreciation expense per year = $7,490 ($59,920/8)

Accumulated depreciation for 5 years = $37,450

Net book value = $26,750 ($64,200 - $37,450)

Remaining estimated useful life = 5 years

Salvage value = $4,815

New depreciable amount = $21,935 ($26,750 - $4,815)

Depreciation expense per year = $4,387 ($21,935/5)

4 0
3 years ago
The Heartlake Corporation manufactures and sells toy gyroscopes. The following data is related to sales and production of the to
ryzh [129]

Answer:

The Question is Incomplete; Full Question is as follows;

Using variable​ costing, what is the contribution margin for last​ year?

<em>Contribution Margin = $362,900</em>

Explanation:

Computation of expenditure margin by differential costing;

<em>Sales </em><em>Minus </em><em>variable cost </em>

  • Sales (190,000 *$8.20)

= $1,558,000  

  • Variable cost of Manufacturing(190,000 units *$1.84)

= $349,600

— variable sales and administrative costs(190,000 units *$4.45)

= $845,500

= contribution margin = $362,900

<em>Keep in mind that; </em><em>Set or Fixed expenses and overhead costs are not taken into account when trying to calculate the contribution margin.</em>

7 0
3 years ago
1.Explain mountain tourism?<br>2.Explain inland tourism?​
gulaghasi [49]
1. Mountain Tourism is a type of "tourism activity which takes place in a defined and limited geographical space such as hills or mountains with distinctive characteristics and attributes that are inherent to a specific landscape, topography, climate, biodiversity (flora and fauna) and local community.


2.
Inland trips means trips to the part of the country away from the coast, without specifying who is taking those trips. Such trips may let the world know about your country, or they may not.

Foreign trips. on the other hand, is fatally ambiguous. It can mean, and has been taken by others here to mean, trips by foreigners to your country, which would be what is asked for. But technically, a foreign trip is just a trip to a foreign country and the trip-takers should be presumed to be your fellow-countrymen; if they travel abroad, that would give them information about the world, not the other way about.

So the choice is between a bad answer and a very bad answer. I would say inland is less bad, but if the examiner thinks one choice is correct, you need to know how he thinks, not how the English language works.


I hope some of that may help I found it off the web.. sorry if it dosent
7 0
3 years ago
LIST THE 7 MOST GORGEOUS RUSSIAN SUPERMODELS.
kvv77 [185]

Dude, you've got your priorities all sorted out ahahah

7 0
2 years ago
Read 2 more answers
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