1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
VladimirAG [237]
3 years ago
5

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:

You might be interested in
Rock bottom purchases its inventory on trade credit with terms of 2/10 net 45. If the firm waits the full 45 days to pay for the
Lera25 [3.4K]

Answer:

The effective annual rate of interest is 23.45%

Explanation:

Effective annual rate of interest=(1+annual interest)^365/t-1

Annual interest =discount rate/100%-discount rate

discount rate here is 2%

annual interest=2/100-2

                         =2.04%

T is the difference between the discount period of 10 days and credit period of 45 days

45-10=35 days

Effective annual rate of interest=(1+2.04%)^(365/35)-1

                                                      =(1.0204^10.42857143) -1

                                                      = 1.2345  -1

                                                       =0.2345

                                                        =23.45%

8 0
2 years ago
Anyone wants to talk with me
Makovka662 [10]

Answer:

Sure

Explanation:

I am a lonely 12 yr old

7 0
1 year ago
Read 2 more answers
Your brother announces at Thanksgiving Dinner that he is thinking of becoming a day trader. What questions might you ask him to
Travka [436]

1) Has he diversified his portfolio within the 11 sectors?

2) Does he go for capital appreciation stocks or dividend stocks?

3) How much time does he spend studying a company's financials (10K form) and charts?

4) Who is his favorite investor? Warren Buffet for picking great stocks and holding for many many years or someone like  Bill Ackman who is a bit deceptive on his trading tactics (over the summer he said 'Hell is coming' a signal thought by many as "panic sell" whilst he was buying heavily)

5) What is the number he is seeking to retire? There's usually a number ranging from $1M and $200M.

6) Maybe ask him if he is seeking to get licensed as a CMT (reading chart patterns)?

Hope this helps, either way best of luck to him!

4 0
2 years ago
You have $27,000 to invest in a stock portfolio. Your choices are Stock X with an expected return of 14 percent and Stock Y with
zmey [24]

Answer:

stock x with an expected return of Y

Explanation:

7 0
2 years ago
Baldwin has a roe of 0.23 (roe = net income/equity). that means:
masha68 [24]
<span>Baldwin has a ROE of 0.23 (ROE = net income/equity). that means: Baldwin has an return on equity of 23%. The ROE is the amount of net income that is </span>returned as a percentage of shareholder quality. ROE and this equation shows the corporations profitability but showing how much profit they have with the money that is invested by shareholders. 
5 0
3 years ago
Other questions:
  • Expenditures that add to the utility of fixed assets for more than one accounting period are
    12·1 answer
  • St. Jude Medical makes cardiovascular medical devices, including the world's most widely used mechanical heart valve. Its produc
    14·1 answer
  • Schwiesow Corporation has provided the following information:_________. Cost per Unit Cost per PeriodDirect materials $ 7.05 Dir
    11·1 answer
  • What is the future value of $450 at an interest rate of 15 percent one year from today?
    12·1 answer
  • In an economic decision making, when the inputs and outputs are fixed, the criterion to use is minimize the input.
    15·2 answers
  • A master plan is devised for
    12·1 answer
  • Annapolis Company purchased a $1,000, 6%, 5-year bond at 97 and held it to maturity. The straight line method of amortization is
    7·1 answer
  • Dave gets a job at a grocery store, which pays him an hourly wage in
    5·2 answers
  • Eeeee I need help siks djnakwidbdh
    14·1 answer
  • The main elements of market structure are _____. perfect competition, monopolistic competition, monopoly, and oligopoly perfect
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!