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Semenov [28]
3 years ago
12

Why are business office established​

Business
1 answer:
madam [21]3 years ago
4 0

Answer:

Mark me Brainliest

Explanation:

A business office is one which is established by the individuals or governments for the production and distribution of goods and services with a view of earning money by satisfying the consumers.

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The total debits in the After-Closing Trial Balance will equal:______
Mnenie [13.5K]

Complete Question:

Shown below is a trial balance for Novelty Toys, Inc., on December 31,after adjusting entries:

                                         Novelty Toys, Inc.

                                  Trial Balance December 31

Cash                                                $7,750

Accounts Receivable                     $6,375

Office Equipment                           $11,250

Accumulated Depreciation                                      $3,000

Accounts Payable                                                     $3,875  

Capital Stock                                                             $11,250

Retained Earnings                                                     $0

Dividends                                                                   $3,750

Fees Earned                                                             $22,750

Salaries Expense                                                      $8,000

Advertising Expense                      $1,625  

Depreciation Expense                   <u>$2,125 </u>              <u>                </u>

                                                       $40,875             $40,875

The total debits in the After-Closing Trial Balance will equal:

Select one:

a. $25,375.

b. $29,125.

c. $40,875.

d. $18,125.

Answer:

$25,375

Explanation:

The After-Closing Trial Balance is prepared once the closing entries are posted. This results in closing of expense and income accounts for the year and the resulting balance taken forward to retained earnings. This means that After-Closing Trial Balance would contain only permanent general accounts which are balance sheet items. In the given scenario, the balance sheet debit balances are as under:

Cash                                                $7,750

Accounts Receivable                     $6,375

Office Equipment                           <u>$11,250 </u>

Total Debit Balance                      <u>$25,375</u>

Hence the option A is correct.

7 0
3 years ago
Boyd Docker has just rented space in a strip mall. In this space, he will open a photography studio, to be called SnapShot! A fr
katrin2010 [14]

Answer:

The normal balance of each account will depend on the type on account involved.

Explanation:

The double-entry system of accounting imlpies that transactions recorded shlooud involve two movements; a corresponding debit entry for a credit entry, though some transactions have more than two entries.

However, by way of rule, a normal balance increases the account and on the opposite of that account, the amount decreases so as to obtain a balance in its rightful position.

Thus, asset accounts will have debit balances, liabilities and capital accounts will have credit balances, income account will have credit balances due to its additional effect on capital, while expenses and withdrawals will have debit balances because they reduce capital.

4 0
3 years ago
Best font for a business document
docker41 [41]

Answer:

wats this question for bro

Explanation:

6 0
2 years ago
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A common law rule that requires that the terms of the offeree’s acceptance adhere exactly to the terms of the offeror’s offer fo
julia-pushkina [17]
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7 0
3 years ago
Why does an organization's management hierarchy impact the organization's information system management?
JulijaS [17]

The organization's management hierarchy impacts the organization's information system management by reducing the need for information processing and communication.

Management Information System plays a very important role in the organization, as it creates an impact on the organization's performance, functions, and productivity.

The information systems have its impact on organizations structure. Thus, an information systems can reduce the number of levels in an organization by providing managers with information to supervise larger numbers of workers.

The information system performs certain important functions such as- coordination, and control, help employees analyze problems, support decision making etc.

Hence, the information system is important to the organization.

To learn more about information system here:

brainly.com/question/13299592

#SPJ4

5 0
1 year ago
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