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3 years ago

Where do temporary account balances go at the end of an accounting period?

Business

1 answer:

Andreyy893 years ago

8 0

Answer:

Temporary – revenues, expenses, dividends (or withdrawals) account. These account balances do not roll over into the next period after closing. The closing process reduces revenue, expense, and dividends account balances (temporary accounts) to zero so they are ready to receive data for the next accounting period.

Explanation:

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One of the necessary steps in the financial planning process is a forecast of financial statements under each alternative versio

Natalija [7]

Answer:

A) True

Explanation:

When you are elaborating a financial plan your ultimate goal is to determine in what projects or activities should your company invest its resources. In order to decide which alternative better suits your company, you must be able to compare how your company will be affected by the different options available. The only way to compare this is by forecasting different financial statements for every possible alternative that your company might choose.

6 0

3 years ago

What is the present role of the aicpa in the rule-making environment?

Sati [7]

AICPA: <span>The national professional organization of practicing Certified Public Accountants (CPAs), whose various committees and boards have been an important contributor to the development of GAAP.

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3 years ago

Curzon International is a hospitality chain that has a wide range of hotels and motels. The company provides luxurious and outst

Mariana [72]

Answer: Altruism

Explanation: It refers to the behavior when an individual considers the benefit of other more important than the self benefit.

In the given case, the hotel chain has the sole purpose of providing best services to its customers. They are not ready to forego their dedication towards service even if it results in loss of their market share.

It is not a case of excellence as they are not charging extra for the same service to increase their profits.

Hence from the above we can conclude that the correct option is D.

7 0

3 years ago

is considering an investment with an initial cost of $236,000. In Year 4, the project will require an additional investment and

professor190 [17]

Answer:

18.54%

Explanation:

The computation of the project modified IRR is shown below:

Here we use the spreadsheet for determining the IRR

but before that we need to find out the cash inflows

Years Amount (in dollars)

Year 0: = - $278,191.12

($236,000 - $48,000 ÷ 1.13^4 -$30,000 ÷ 1.13^7)

Year 1: 64000

Year 2: 87000

Year 3: 91000

Year 4: 0

Year 5: 122000

Year 6: 154000

Year 7: 0

Now we use the excel

=IRR({-$278,191.12,$64,000,$87,000,$91,000,$0,$122,000,$154,000,0})

= 18.54%

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3 years ago

Erica is an administrative assistant for a company with more than three thousand employees. She needs to send insurance document

stellarik [79]

Answer:

Send an e-mail to all employees

Explanation:

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3 years ago