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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

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Lindsay is Jon's manager and calls him into her office after everyone else has gone home for the day. She closes the door and te
Ostrovityanka [42]

Answer: Lindsay has not committed a defamation tort

Explanation:

Defamation is when the reputation of an individual in being damaged. In s case whereby one believes that his or her reputation has being damaged by another person, the person sue under the defamation theory.

In the analysis above, we can deduce that Lindsay has not committed a defamation tort.

5 0
3 years ago
You examine the schedule for your favorite soccer team. the team plays 38 games each season. later you try recalling that schedu
erastova [34]

Serial-position effect is the ability to recall items in the begining or the end of a list easier

6 0
3 years ago
The purpose of the cash flow statement is to:
scZoUnD [109]
Simplify the following expression: 4x + 5y – 2x – 3y + 2z *c
8 0
2 years ago
The following labor standards have been established for a particular product: Standard labor-hours per unit of output 9.4 hours
dexar [7]

Answer:

the  labor efficiency variance is $35,244 favorable

Explanation:

The computation of the labor efficiency variance is shown below:

As we know that

Efficiency Variance is

= Standard rate × (Standard hours - Actual Hours)

= $13.20 × (9.4 ×1,050 units - 7,200 hours)

= $13.20 × (9,870 hours - 7,200 hours)

= $35,244 favorable

hence, the  labor efficiency variance is $35,244 favorable

7 0
2 years ago
A fire has destroyed a large percentage of the financial records of the Inferno Company. You have the task of piecing together i
oee [108]

Answer:

11.11%

Explanation:

The computation of the return on assets is given below:

But before that following calculations need to be done

Total assets = Total debt ÷ Total debt ratio

= $657,000 ÷ 0.31

= $2,119,354.839

Total equity = Total Assets - Total Debt

= $2,119,354.839 - $657,000

= $1,462,354.839

Net profit = Total equity × Return on equity

= $1,462,354.839 × 0.161

= $235,439.129

And, finally

ROA = Net profit ÷ Total Assets

= $235,439.129 ÷ $2,119,354.839

= 11.11%

7 0
3 years ago
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