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2 years ago

Which of the following correctly describes a general ledger?

Business

1 answer:

OLEGan [10]2 years ago

6 0

Answer:

A listing of all asset, liability, owners' equity, revenue, expense, and dividend accounts sorted according to its debit or credit balance.

Explanation:

A general ledger stores and summarizes all accounts a business operates. It is the source of financial information required to prepares financial statements.

The general ledger is a summary of a company bookkeeping system. It arranges or sorts the business accounts as the balance sheet order. Assets accounts appear first, then liability accounts, and lastly, the equity accounts.

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HEEELP!!!!

Zepler [3.9K]

use a calculator sorry

5 0

2 years ago

Over the past year, you earned a nominal rate of interest of 10% on your money. The inflation rate was 5% over the same period.

zimovet [89]

Answer:

exact actual growth rate of your purchasing power was 4.8%

Explanation:

given data

nominal rate of interest = 10%

inflation rate = 5%

solution

we get here exact actual growth rate that is express as

exact actual growth rate = $\frac{1+rate\ of\ interest}{1+inflation\ rate} - 1$ ..........................1

put here value and we will get

exact actual growth rate = $\frac{1+0.10}{1+0.05} - 1$

exact actual growth rate = 4.8 %

so here exact actual growth rate of your purchasing power was 4.8%

3 0

2 years ago

Assume that securitization combined with borrowing and irrational exuberance in Hyperville have driven up the value of existing

Mashcka [7]

Answer:

The financial securities would decline by $106.7

Explanation:

Given

Financial securities at a geometric rate= $128

Underlying Security Asset = $14

Decreased value of the underlying asset = $6

When there's a reduction of $6 in the underlying asset price, this means the securities value will also get a reduction by a ratio of 6.

Because of this, we'll only consider the financial securities because it increases at a geometric progression unlike underlying assets that increases by arithmetic progression.

First, the value of financial securities needs to be calculated using the following formula;.

Value of Financial Securities = Financial securities at a geometric rate ÷

Decreased value of the underlying asset

Value of Financial Securities = $128 ÷ 6

Value of Financial Securities = $21.3

Tthe decline value of the financial securities is calculated as follows:

Decline Value = Financial securities at a geometric rate - Value of Financial Securities

Decline Value = $128 - $21.3

Decline Value = $106.7

Hence, the financial securities would decline by $106.7

6 0

2 years ago

What are various options to regulate monopolies in the United States? <br><br> I’ll give brainliest

Darya [45]

Answer:

ok I'll give you what I know monopolies are one business operating so try and use that

3 0

2 years ago

Read 2 more answers

Salt Foods purchases forty $1,000, 7%, 10-year bonds issued by Pretzelmania, Inc., for $37,282 on January 1. The market interest

alexira [117]

Answer and Explanation:

The journal entries are shown below;

a. Investment Dr $37,282

To Cash $37,282

(being the investment in bonds is recorded)

Cash (($1,000 × $40) × 0.07 × 6 ÷ 12) $1,400

Investment $91

To interest revenue ($37,282 ×8% × 6 ÷ 12) $1,491

(Being the first interest payment is recorded)

5 0

2 years ago