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
aleksley [76]
2 years ago
6

Once the adjusting entries are posted, the adjusted trial balance is prepared to a. verify that the debits and credits are in ba

lance b. verify that the net income (loss) is correct for the period c. verify the correct flow of accounts into the financial statements d. verify that the net income correctly flows into the statement of stockholders' equity from the income statement
Business
1 answer:
lbvjy [14]2 years ago
6 0

Answer:

a. verify that the debits and credits are in balance

Explanation:

A periodic system of inventory can be defined as a method of financial accounting, that typically involves updating informations about an inventory on a periodic basis (at specific intervals) as the sales or purchases are being made by the customers, through the use of either an enterprise management software applications or a digitized point-of-sale equipment.

On the other hand, a perpetual inventory system is a type of inventory management that continuously records in real-time the amount of inventory sold or purchased through the use of enterprise software or technological software applications such as a point of sale (POS).

A journal entry involves the process of keeping the records of business transactions made by an organization.

The journal entry is used by bookkeepers and accountants. Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.

In Accounting, most businesses use a double-entry account system and as such, the total amount debited must equal the total amount credited in a journal entry.

Once the adjusting entries are posted, the adjusted trial balance is prepared to verify that the debits and credits are in balance.

You might be interested in
I The indirect and direct methods of preparing the statement of cash flows are identical except for
NemiM [27]

The cash flow statement (CFS) measures how well a company manages its cash position, meaning how well the company generates cash to pay its debt obligations and fund its operating expenses. The cash flow statement complements the balance sheet and income statement and is a mandatory part of a company's financial reports since 1987.1

In this article, we'll show you how the CFS is structured, and how you can use it when analyzing a company.

KEY TAKEAWAYS

A cash flow statement is a financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company.

The cash flow statement measures how well a company manages its cash position, meaning how well the company generates cash to pay its debt obligations and fund its operating expenses.

The cash flow statement complements the balance sheet and income statement and is a mandatory part of a company's financial reports since 1987.1

The main components of the cash flow statement are cash from operating activities, cash from investing activities, and cash from financing activities.

The two methods of calculating cash flow are the direct method and the indirect method.

4 0
3 years ago
In the united states, business cycles have occurred against a backdrop of a long-run trend of?
Rus_ich [418]

In the united states, business cycles have happened against a backdrop of a long-run trend of rising real GDP.

<h3>What is Gross Domestic Product?</h3>

Gross domestic product (GDP) is a monetary indicator of the total market value of all the finished products that nations produce over a given time period. This measurement is frequently changed before it can be trusted as an indicator because of how complicated and subjective it is. The total monetary or market worth of all the finished goods and services produced within a nation's boundaries during a certain time period is known as the gross domestic product (GDP).

Economic activity goes through periods of boom and then contraction during business cycles. Both the general welfare of society and the welfare of private entities are affected by these developments. Business cycles are a sort of variation that may be found in the overall economic activity of a country. A business cycle is made up of expansions that occur roughly at the same time in many different economic activities, followed by contractions that are similarly widespread (recessions).

Hence, In the united states, business cycles have happened against a backdrop of a long-run trend of rising real GDP.

To learn more about Gross Domestic Product refer to:

brainly.com/question/1383956

#SPJ4

3 0
2 years ago
Jamal gets qualified for a 30,000 car loan that has a 5 year term and has an interest rate of 5.9% APR. He decides to take those
stiks02 [169]

Jamal's monthly payment for the car loan is $578.59.

Data and Calculations:

Amount of Jamal's auto loan = $30,000

Term of the auto loan = 5 years or 60 months

Interest rate payable = 5.9% APR

Monthly payment from an online financial calculator:

Monthly Pay = $578.59

Total Loan Amount = $30,000.00

Upfront Payment = $0.00

Total of 60 Loan Payments = $34,715.41

Total Loan Interest  = $4,715.41

Total Cost = $34,715.41

Thus, Jamal will be making a monthly payment of $578.59.

Learn more about calculating monthly payments for auto loans at brainly.com/question/11866605

6 0
2 years ago
What can you tell me about Google's Supply Chain Management ?(10 Marks)
Fiesta28 [93]

Answer:

The answer is below

Explanation:

With suppliers across over 60 countries all around the globe, Google continues to organize its supply chain quite efficiently.

Hence, Google’s supply chain management can be summarized in the following key points:

1. Getting reliable suppliers: Google ensures they work with trustworthy suppliers by conducting robust appraisal based on a variety of factors, such as country-specific risk, product-specific risk, suppliers' past records, supplier relationships, etc.

2. Suppliers code of conducting business: this involves social and environmental responsibility and as well as safe working conditions for suppliers' employees.

3. Effective Management of Suppliers Diversity: Google identifies and supports all forms of suppliers' community, regardless of countries, gender, age, disability status, or even sexual orientation of the suppliers. This implies that Google keeps respecting and valuing the contribution of every associated with its supply chain in any capacity.

4. Promoting Tools and Techniques to Supports Suppliers: Google prioritizes training and energy conservations, cost reductions, and product enhancement, for its suppliers, which contribute to easy access to clean and renewable energy.

6 0
3 years ago
Select the correct answers. What should a company do to determine which new product idea should go to commercialization? A. gene
Wittaler [7]

Answer:

D perfrom market testing on each product idea

6 0
2 years ago
Other questions:
  • Sally’s parents deposited $15,000 into a college savings account on her third birthday. The account had an interest rate of 9.6%
    9·2 answers
  • Large companies such as Walmart, IBM, and Ford are classified as A. S-corporations. B. C-corporations. C. limited liability comp
    5·2 answers
  • A process layout problem consists of 4 departments, each of which can be assigned to one of four rooms. The number of different
    11·1 answer
  • A job analysis method by which important job tasks are identified for job success is known as: functional job analysis the criti
    12·1 answer
  • However, the debt issues also raises the probability of bankruptcy. You company has a 30% chance of going bankrupt after 3 years
    10·1 answer
  • Which of the following is an example of irregular income? a) A full-time job b) A part-time job c) A graduation gift d) Both b a
    5·2 answers
  • Smashing Pumpkins Co. uses the LCM method, on an individual-item basis, in pricing its inventory items. The inventory at Dec. 31
    7·1 answer
  • Ticker Services began operations in 2015 and maintains long-term investments in available-for-sale securities. The year-end cost
    11·1 answer
  • A company reported the following amounts at the end of the year total sales revenue = 550000; sales discounts = $12,000; sales r
    13·1 answer
  • True or False: Potential customers and non-potential customers are mixed together in the marketplace, so it is impossible to ens
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!