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Wewaii [24]
3 years ago
15

The accounting process of ensuring accuracy and completeness includes Journalizing transactions timely using ledgers and journal

s, closing entries, create a trial balance, make adjusting entries, create adjusting trial balance and prepare the four basic financial statements (balance sheet, income statement, changes in net assets/equity and cash flows). Note, adjusting entries are not necessary but reversals are a must in this process. This statement is:________.
A. True
B. False
Business
2 answers:
avanturin [10]3 years ago
7 0

Answer:

The accounting process of ensuring accuracy and completeness includes Journalizing transactions timely using ledgers and journals, closing entries, create a trial balance, make adjusting entries, create adjusting trial balance and prepare the four basic financial statements (balance sheet, income statement, changes in net assets/equity and cash flows). Note, adjusting entries are not necessary but reversals are a must in this process. This statement is:________.

A. True

devlian [24]3 years ago
6 0
False…………….. yea ma’am
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Lifeworks is a nongovernment not-for-profit organization that recently received a large gift from a donor in the amount of $3,00
blagie [28]

Answer:

Explanation:

The net assets would increase. This is because the $100,000 earnings from investments are additional cash inflows hence an increase in current assets. For the $3,000,000 if invested, it will be considered an asset. It is a cash donation invested to generate earnings for the non-profit organization. Thus, these two instances add onto the net asset value of Lifeworks.

7 0
3 years ago
Feeling "He who does the work of the King ought to be King," Pope Zacharias helped whom become King of the Franks in 751?
Gnom [1K]

Answer:

(C) Pepin The Short

Explanation:

In 741AD, Pepin took over from his father as Mayor of the Palace. He ruled alongside his elder brother.

In 743AD, Pepin and his brother chose Childeric to be the <em>apparent</em> King of the Franks. Both brothers still wielded the functional power to the throne. Childeric was just to 'appear to be' the King (unknown to him though).

In 747AD, Pepin's brother stepped down (intentionally and on his own accord). Pepin then became the only ruler of the entire Frankish territory.

In 751AD, Pepin, without full support from his clan, lured Childeric into monastery in order to remove him as the 'face of Francia'.

Pope Zacharias helped Pepin to be proclaimed King of the Franks, against all opposition.

3 0
3 years ago
Beleaguered State Bank (BSB) holds $500 million in deposits and maintains a reserve ratio of 20 percent. Complete the following
leonid [27]

Answer:

1. See part 1 of the attached excel file for the T-account.

2. See part 2 of the attached excel file for the T-account.

3. Because BSB is cutting back on its loans, other banks will find they have <u>lower</u> reserves, causing them to <u>reduce</u> their loans. Which of the following ways represent an alternative for BSB to return to its original reserve ratio? Check all that apply.

4. The correct options are b. Borrow money from another bank and d. Attract additional deposits.

Explanation:

1. Beleaguered State Bank (BSB) holds $500 million in deposits and maintains a reserve ratio of 20 percent. Complete the following T-account for BSB.

Note: See part 1 of the attached excel file for the T-account.

In the attached excel, the following calculations are made:

Reserves = $500 million * 20% = $100 million

Loans = $500 - $100 = $400

2. Now suppose that BSB's largest depositor withdraws $25 million in cash from her account. BSB decides to restore its reserve ratio by reducing the amount of loans outstanding.

Note: See part 2 of the attached excel file for the T-account.

In the attached excel, the following calculations are made:

Deposits = $500 million - $25 million = $475 million

Reserves = $475 million * 20% = $95 million

Loans = $475 - $95 = $380

3. Because BSB is cutting back on its loans, other banks will find they have <u>lower</u> reserves, causing them to <u>reduce</u> their loans. Which of the following ways represent an alternative for BSB to return to its original reserve ratio? Check all that apply.

4. Which of the following ways represent an alternative for BSB to return to its original reserve ratio? Check all that apply.

The correct options are b. Borrow money from another bank and d. Attract additional deposits.

Download xlsx
4 0
3 years ago
Turn to Part C of the Systems Analyst’s Toolkit and review the concept of net present value (NPV). Determine the NPV for the fol
Tcecarenko [31]

Answer:

$-13,975.91

Explanation:

Net present value is the present value of after-tax cash flows from an investment less the amount invested.  

NPV can be calculated using a financial calculator  

Cash flow in year 0 =  $-95,000

Cash flow in year 1 =  $30,000

Cash flow each year from 2 to 5 =  $20,000

I = 12%

NPV = $-13,975.91

To find the NPV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

5 0
3 years ago
Guest expectations +____________=guest satisfaction
avanturin [10]

Answer: C. Perceived Value

Explanation:

When we speak of Perceived value, we speak of how a customer evaluates a good or service in relation to how well it served them especially in relation to similar good or services.

It is essentially the customer, ranking a good or service in terms of how well they feel it fulfilled it's intended purpose.

When guests to an Establishment come with expectations for instance, how well the guests think these expectations are met (perceived Value) is what determines the overall satisfaction of the guest.

Hence the formula, Guest expectations + Perceived Value = Guest Satisfaction

7 0
3 years ago
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