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Answer:
The correct answer is letter "B": after the financial statements are prepared.
Explanation:
A closing entry is a journal entry after the preparation of the financial statements, at the end of an accounting period. This closes a temporary account and moves all the information either to a permanent balance sheet or to the income statement. Temporary accounts include revenue, expenses, and dividends and must be closed at the end of the year.
Answer:
How will this purchase impact the accounting equation of Perfect Printers at the time of the purchase?
An increase in the assets by $200,000 and a similar increase in liability by $200,000
Explanation:
The accounting equation is the foundation for the double enter system of account balancing. In this system, the amount of debits are entered on one side as the corresponding credit is entered on the other side. Then the total credits are added and compared to the sum of the debit. When the credit equals the debit, the accounts balance. The accounting equation can be expressed as;
A=L+E
where;
A=assets
L=liabilities
E=owner's equity
Lets enter the transaction as shown;
Account type Asset Liability
Printing machine $200,000
Cash $200,000
Total $200,000 $200,000
An increase in the assets by $200,000 and a similar increase in liability by $200,000
Answer:
The number of shares that Brick should use to calculate 2015 diluted earnings per share are 202,000 shares
Explanation:
The computation of the number of shares are shown below:
= January 1 shares + may 1 shares + convertible cumulative preferred stock
= 170,000 shares × 4 months ÷ 12 months + 200,000 shares × 8 months ÷ 12 months + 12,000 shares
= $56666.67 + $133,333.33 + $12,000
= $202,000 shares
The 4 months are calculated from January 1 to May 1, 2015
And, the 8 months are calculated from May 1 to December 31
Answer: Option B
Explanation: Centralization or centralization is the mechanism by which an organization's operations, particularly those related to planning and policy-making, framing strategies and regulations, are consolidated within a specific geographic region unit and are handled by some for the individual employees within.
These employees are usually the top managers and executives working in the company and have authority to make decisions that can impact the company as a whole.
Hence from the above we can conclude that the correct option is B.
