Answer: Transferring debit and credit amount from the journal to the ledger.
Explanation:
Posting in Accounting refers to the process of transferring debit and credit amounts from the books of original entry i.e the journals, to the relevant general ledger.
Posting to the general ledger is the third step in the Accounting Cycle and as such is very important in determining the balances to put into the Unadjusted Trial balance.
Answer:
The depreciation expense for the first two years is $72,000.
Explanation:
Under straight-line method, depreciation expense is (Cost - Residual value) / No of years = ($400,000 - $40,000) / 10 years = $36,000 yearly depreciation expense.
Using this method, the depreciation expense for the first two years is $36,000 x 2 years = $72,000. This amount is regarded as the accumulated depreciation at the end of Year 2 while the net book value would be $400,000 - $72,000 = $328,000.
Answer:
lender.
Explanation:
A lender is an individual or company that makes funds available another com[any. Lenders receive fixed payments based on a predetermined rate at an agreed time.
A shareholder is the owner of a company. A shareholder is a person who buys the stock of a publicly traded company
Supplier provides raw materials needed for production to a company
An investor can either be a lender or shareholder
Answer:
The answer is Deferred tax asset and Deferred tax liability.
Explanation:
Unearned revenue creates deferred tax asset. In here, taxes have been paid because income has been received but have not been recognized on the income statement because according to the revenue recognition, the services for the revenue has not been rendered.
Prepaid expenses give rise to deferred tax liability. In here, taxes have been recognized on income statement but the actual tax has not been paid. Income tax expense on income statement is greater than taxes payable
I think C because a cartoon is not in real life so a DIGITAL DESIGNER needs to make these cartoons to be shown on television.
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