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2 years ago

Reviewing and evaluating records used to prepare a company's financial statements is referred to as ______.

Business

1 answer:

MaRussiya [10]2 years ago

3 0

Answer:

Auditing

Explanation:

Auditing means the audits of the financial statement or the objective examination and the financial statement of the company could be evaluated. It is performed by the third party i.e. auditor. It can be performed by the internal parties and government entity like the internal revenue service

So the review and evaluation of the financial records is called as the auditing

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Brown Company provided services to a customer and immediately collected $1,900 cash. Show how to record the transaction to the T

hjlf

Answer:

credited; right; debited; left

Explanation:

The journal entry to record this transaction is shown below:

Cash A/c Dr $1,900

To Service revenue A/c $1,900

(Being the cash is collected)

It to be displayed in T accounts

For cash account

Cash

Debit side

Service revenue $1,900

For service revenue account

Service revenue

Credit side

Cash $1,900

So, the cash account would be debited and would be displayed on the left hand side while the service revenue would be credited and would be displayed on the right hand side

8 0

2 years ago

A sample of gas occupies 575 ml at 1.50 atm and 125 degrees celsius. if temperature is changed to 20 degrees celsius and volume

Anastaziya [24]

A sample of gas occupies 575 ml at 1.50 atm and 125 degrees Celsius. If the temperature is changed to 20 degrees Celsius and the volume is changed to 0.300 L. The will be a new pressure at 2.12 atm.

Temperature is the measure of hotness or coldness expressed in phrases of any of numerous scales, including Fahrenheit and Celsius. Temperature shows the route wherein heat energy will spontaneously waft—i.e., from a hotter frame (one at a higher temperature) to a less warm body (one at a decreased temperature).

The common body temperature is ninety-eight.6 F (37 C). however normal frame temperature can vary between ninety-seven F (36.1 C) and 99 F (37.2 C) or more. Your frame temperature can range depending on how active you are or the time of day.

The heat of an item is the entire strength of all of the molecular motion interior of that item. Temperature is the degree of the thermal energy or average warmth of the molecules in a substance. SI Unit

V₁ = 0.575L

P₁ =1. So atm.

T₁ =125 + 273=398 k

√2 =0.300 L

P₂ =?

T₂ = 20 +273= 293K

P1XV 1=T2

1.50 X 0.575 lit=398 K

P2 x 0.300 lit =293K

1-50 atm x 293KX 0.575 lit

0. 300 lit X 396 K

P₂ =2.1165 atm

Learn more about temperature here brainly.com/question/24746268

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8 0

2 years ago

This information relates to Sherper Co. 1. On April 5 purchased merchandise from Newport Company for $22,000, terms 2/10, n/10.

Feliz [49]

Answer:

April 5, purchased merchandise on account terms 2/10, n/10

Dr Merchandise inventory 22,000

Cr Accounts payable 22,000

April 6, paid freight costs

Dr Merchandise inventory 900

Cr Cash 900

April 7, purchase equipment on account

Dr P, P & E - Equipment 26,000

Cr Accounts receivable 26,000

April 8, returned some merchandise (April 5th purchase)

Dr Accounts payable 2,000

Cr Merchandise inventory 2,000

April 15, paid merchandise invoice

Dr Accounts payable 20,000

Cr Cash 19,600

Cr Purchase discounts 400

May 4, paid merchandise invoice

Dr Accounts payable 20,000

Cr Cash 20,000

If the company pays the invoice on April 15th, it will get a 2% discount which must be recorded as a purchase discount.

5 0

2 years ago

A stock sells for $6.99 on December 31, providing the seller with a 6% annual return. What was the price of the stock at the beg

Dimas [21]

Answer:

Correct option is 6.59

Explanation:

Selling price of stock at the end of the year is $6.99. Annual return rate is 6%. Price of stock at the beginning will be present value of stock valued at the end discounted at 6%. Computation is as shown below:

$Present\ value\ or\ price\ of\ stock = Selling\ price\left ( \frac{1}{1+i} \right )^{n}$

$= 6.99\left ( \frac{1}{1+0.06} \right )^{1}$

$= \frac{6.99}{1.06}$

= $6.59

Therefore, Stock's price in the beginning of the year is $6.59.

6 0

2 years ago

Retained earnings represents: Multiple Choice Amount of cash available for paying dividends. Total assets minus total liabilitie

kotegsom [21]

Answer:

All net income, less all dividends, since the company began operations.

Explanation:

Retained Earnings are the retained profits that the company keeps with itself, for meeting any case of emergency or for growing company and thus, meeting the growing expenses.

Each year when company earns profits and then, it distributes its profits in the form of dividends, the balance remaining after paying the dividends is added to retained earnings.

Thus, the entire balance of these kind of profits not paid anywhere else and also not utilized is called retained earnings.

4 0

2 years ago