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3 years ago

Control over cash disbursements is generally more effective when:

Business

1 answer:

anyanavicka [17]3 years ago

5 0

Answer:

The correct answer is option c) payments are made by check. Control of cash disbursement is generally more effective when payments are made by check..

hope helpful <3

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Terra Corporation purchased equipment with a 10-year useful life and zero residual value for $100,000. At the end of the fourth

vazorg [7]

Answer:

Assets increase by $10,000

Total stockholders' equity increases by $10,000

Explanation:

Since in the question, it is given that, the purchase value of equipment is $100,000 and the exchanged value is $110,000

So, the difference of $10,000 ($110,000 - $100,000) would reflect that the assets would increase by $10,000 and the total stockholders' equity is also increased by $10,000

The exchange value is a combination of $70,000 in trade allowance and $40,000 was paid in cash

3 0

3 years ago

Once a trial balance has been prepared, the next step of the accounting cycle involves: a. Classifying the transactions into log

Mice21 [21]

Answer:

The correct answer is letter "B": Preparing financial statements such as the balance sheet, income statement, and statement of cash flows.

Explanation:

A trial balance is a worksheet listing the debit and credit balances of all the ledger accounts for an entity. Under accounting theory, the total of all the debits must equal the total of all the credits. Since the trial balance is a list of all the accounts it serves as an accuracy check before the company prepares the financial statements including the <em>Balance sheet, Income </em>and <em>Cash Flows Statements</em>.

3 0

3 years ago

Define the law of demand in a perfectly competitive market

xz_007 [3.2K]

Is a microeconomics law that states, all other factors being equal, as the price of a good or service increases, consumers demand for the good or service will decrease, and vice versa

3 0

3 years ago

The Tanner Company's April 30 pre-reconciliation cash balance on its books was $35,000. While preparing the April 30 bank reconc

Natalija [7]

Answer:

$38,950

Explanation:

Given that,

Cash balance on its books = $35,000

Outstanding checks = $11,000

Deposits in transit = $7,000

Bank service charges = $50

Tanner's April 30 cash balance per the bank statement:

= Cash balance in books + outstanding checks - Deposits in transit - Bank service charge

= $35,000 + $11,000 - $7,000 - $50

= $38,950

Therefore, cash balance as per bank statement is $38,950.

6 0

3 years ago

Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following sto

Sauron [17]

Solution :

Tarrant Corporations

First of all let us prepare the Journal Entries

1. Cash (7000 x 38) 266,000

Common stock (7000 x 19) 133,000

Paid in capital in excess of stated value

common stock (7000 x 19) 133,000

2. Cash (2600 x 43) 111,800

common stock (2600 x 19) 49400

Paid in capital in excess of stated value

Common stock (2600 x 24) 62400

3. Income summary 7000

Retained earing 7000

Tarrant corporation

Balance sheet - shareholder's section

Share holder's equity

Contributed capital

$ 19 par, issued and outstanding 9600 shares = 182400

Paid in capital in excess of par 196800

Total contributed capital 379200

Retained earnings 7200

Total shareholder's equity 372,000

8 0

3 years ago