Answer:
To ensure assets and liabilities are reported at appropriate amounts.
To ensure the related revenues and expenses are reported in the proper period.
Explanation:
Adjusting entries at the end of the period are basically made, to comply with the requirements of the accrual principal.
Under accrual principal the financial statements represent the true and fair view of the transactions and conditions of the company.
It basically records all the revenues and expenses at the time when they are incurred and not at the time when they are paid in cash, or cash is received.
As and when the transaction incurs, or to the period it relates it shall be disclosed.
Therefore, each balance sheet item is disclosed and reported at the appropriate amount. And the all the revenues and expenses related to the period are provided for.
Answer:
14518.41
Explanation:
We would determine the future value of the sisters investment and use it to determine the amount to be deposited by the other sister
The formula for calculating future value:
FV = P (1 + r) n
FV = Future value
P = Present value
R = interest rate
N = number of years
13500 (1.104)^10 = $36,309.85
$36,309.85 = a(1.096)^10
a = $36,309.85 / 2.500953
a = $14518.41
Companies may try to lower their labor costs by laying off higher paid workers.
Typically the higher paid workers will be professionals who have worked their way up over time and tend to be older, while younger workers fresh out of school and looking for their first jobs will be more willing to take lower salaries.
The answer should be 1 and 4 for this question
Answer: $295
Explanation:
Given that,
Amount spent by the students is normal in shape
Mean = $235
Standard deviation = $20
99.7% is within 3 standard deviations of the mean:
= Mean + 3 × Standard deviation
= $235 + 3 × $20
= $235 + $60
= $295
The amount of $295 is spent by all the students on textbooks.
