Answer:
The correct answer is:
- Journalized business transactions are posted to the ledger.
- An unadjusted trial balance is prepared.
- Financial statements are prepared.
- Closing entries are journalized and posted to the ledger.
- A post-closing trial balance is prepared.
Explanation:
The following phases or stages are distinguished in the accounting process or cycle:
- Initial situation balance.
- Accounting opening.
- Record of the operations of the year.
- Periodification
- Adjustments prior to the determination of the benefit - or loss - generated in the year.
- Balance check sums and balances.
- Calculation of the result.
- Accounting closing.
- Annual accounts.
- Distribution of the result.
Answer:
The break-even in monthly dollar sales is closest to $215,000
Explanation:
The break-even point is the level of production at which the costs of production equal the revenues for a product and calculated by using following formula:
Break-even point in units = Fixed expense/(Selling price per unit-Variable expense per unit) = $144,050/($230.00 - $75.90) = 935 units
The break-even in monthly dollar sales = 935 x $230.00 = $215,000
Answer:
Correct answer is B.
Explanation:
B is correct. In the Strong-form efficient market hypothesis, all public and private information is reflected in prices and it is impossible for anyone to outperform the market. Only new information affects stock prices, but then, this new information is processed correctly and reflected in the price of an asset so fast before anyone can act on it. As a result, the price action becomes totally unpredictable and prices appear to move randomly.
Answer:
December 31
Dr Pension expense $182,100
Cr Unfunded pension Liabiltiy $182,100
January 15
Dr Unfunded pension Liabiltiy $182,100
Cr Cash $182,100
Explanation:
Preparation of the entry to record the accrued pension liability payment to the funding agent on January 15
December 31
Dr Pension expense $182,100
Cr Unfunded pension Liabiltiy $182,100
(Being to record quarterly pension Liabiltiy)
January 15
Dr Unfunded pension Liabiltiy $182,100
Cr Cash $182,100
( Being to record the accrued pension liability payment to the funding agent)