Apaper bills and coins circulated in a country are called CURRENCY. Please remember that currency is <span>a system of money in general use in a particular country. I hope this is useful. </span>
Answer:
lower
Explanation:
As people would make a smaller profit but more if it accumulating it to get bigger than expensive with less sales.
Answer:
Answer is option C, i.e. is a list of all accounts and their balances after closing entries.
Explanation:
A post-closing trial balance is the third and last type of trial balance that contains a list of all the accounts that have been created and also all the balances even after the closing entry has been made. This is made after the closing entries have been made in the journal and posted to the ledger.
Answer:
$76,100
Explanation:
This calculation is based on the recognition principle of accrual accounting which sates that revenues must recognized when they are earned and expenses accounted for when they are incurred no matter when cash is received or paid.
Therefore, only 9 months (i.e. April 1 - December 31 = 9 months) of the retainer will be recognized or used in the calculation of total revenue as follows:
1. Monthly retainer for services = $18,800 ÷ 12 = $1,566.67
2. Year 1 service retainer (April 1 - December 31) = $1,566.67 × 9 months
= $14,100
3. Total revenue = Year 1 service retainer + Legal services
= $14,100 + $62,000
= $76,100
Note:
Other details are expenses and net profit appropriation which are only relevant for calculating the net profit and retained profit. These are however beyond the scope of the question.
I did some research on this a while ago, I'm pretty sure it's Breast Cancer.
