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2 years ago

How to work out opening balance?

Business

2 answers:

vredina [299]2 years ago

8 0

Answer:

...

Explanation:

Marrrta [24]2 years ago

5 0

Answer:

Opening Balance (what you have in bank at the start) plus Total Income (what money comes in) minus Total Expenses (what money goes out) equals Closing Balance (what money you have left). The Opening Balance is the amount of cash at the beginning of the month (1st day of month).

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In 2019, Dan transferred 5-year property to Fleck Corp. in a tax-deferred Section 351 transaction. Fleck took Dan's adjusted bas

irina1246 [14]

Answer:

The property will be depreciated using the remaining 3 years of its life after the tax-free incorporation transfer year. This is because Dan had already depreciated the property for 2 years before the transfer.

Explanation:

Sec. 351 allows a tax-free incorporation transfer if certain requirements are met, including that the property must be transferred to Fleck Corporation by Dan in exchange for stock in Fleck Corporation, and, immediately after the exchange, the Fleck Corporation is in control.

7 0

2 years ago

Later, the teaching assistant in Bob's chemistry course gives him some advice. "Based on past experience," the teaching assistan

77julia77 [94]

Answer:

1 hour working on problems, 3 hours reading

Explanation:

the question is not complete:

Bob is a hard-working college freshman. One Tuesday, he decides to work nonstop until he has answered 200 practice problems for his chemistry course. He starts work at 8:00 AM and uses a table to keep track of his progress throughout the day. He notices that as he gets tired, it takes him longer to solve each problem.

Time Total Problems Answered Marginal gain

8:00 AM 0

9:00 AM 80 80

10:00 AM 140 60

11:00 AM 180 40

Noon 200 20

Since Bob's is able to answer more than 70 questions per hours only during one hour (from 8 to 9 AM), he can benefit more from reading the next 3 hours. Reading would be equivalent to answering 210 questions, while Bob was only able to answer 120 more questions in the following 3 hours.

6 0

2 years ago

Presented below is the adjusted trial balance of Splish Brothers, Inc. at December 31, 2017. Debit Credit Cash $ ? Supplies 1,33

igomit [66]

Answer:

Cash $ 5710

Total debit side $ 199200 Credit side $ 199200

Explanation:

We list the correct accounts at the right side. First we add up the credit side to find the total and then subtract the debit side from it to get the cash amount as the debit and credit side of the trial balance must be equal.

Splish Brothers, Inc.

Adjusted trial balance

December 31, 2017.

Debit Credit

Cash $ 5710

Supplies 1,330

Accounts Receivable 3,580

Prepaid Insurance 2,620

Equipment 80,160

Accumulated Depreciation—Equipment $20,100

Trademarks 3,760

Accounts Payable 3,220

Salaries and Wages Payable 920

Unearned Service Revenue 1,060

Bonds Payable (due 2024) 31,880

Common Stock 2,120

Additional paid-in capital 15,160

Retained Earnings 14,720

Service Revenue 30,040

Salaries and Wages Expense 14,080

Insurance Expense 2,400

Rent Expense 3,260

Interest Expense 2,320

Total $ 199200 $ 199200

7 0

2 years ago

Suppose the central bank in the nation of Zook attempts to pay off its national debt by printing large amounts of currency. The

stiks02 [169]

Answer:

it would become worthless

Explanation:

if they keep printing loads of money then the individual Zook dollar would decrease in worth

8 0

1 year ago

KFC has added many offerings to its menus in China to appeal to local tastes, including the "Dragon Twister," which is a chicken

andrew-mc [135]

Answer:

D. Product Invention

Explanation:

KFC added many items in the menu list when they opened their restaurants at China. By doing this KFC tries to incorporate the local cuisine of Chinese foods into their menu.

In China, KFC invented a new dish and named it the "Dragon Twister". In this dish, it contains a chicken wrap with Peking duck sauce on it. It highly resembles the local food of China.

Thus KFC tries to promote and do marketing of its product in China by inventing new dishes which is similar to the local Chinese food and adding it to the menu list of KFC.

By this, Chinese people will be attracted towards KFC and will come to try their newly invented "Dragon Twister".

Thus, the answer is D. Product Invention.

6 0

2 years ago

How to work out opening balance?​

How to work out opening balance?