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2 years ago

Companies typically prepare ______ financial statements each accounting period.

1 answer:

6 0

Companies typically prepare 4 financial statements because there’s:
- Balance Sheets
- Income Statements
- Cash Flow Statements
- Statements of Shareholders’ Equity

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How did speculative investing weaken the stability of the stock market

Lena [83]

The main way in which speculative investing weakened the stability of the stock market was that it it led to high overvaluation of a company's worth, meaning that people began to divest quickly, leading to a run on the banks.

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3 years ago

Prior to the write off of a $500 customer account, Athena Company had the following account balances: Accounts receivable $19,60

Effectus [21]

Answer:

Net accounts receivable Before $18,600 and After $18,600

Explanation:

solution

we know that here

net accounts receivable before write-off

Accounts Receivable = $19,600

and Allowance for doubtful debt = $1,000

so Net accounts receivable = $19,600 - $1,000 = $18,600

Journal Entry for write off is here

Allowance for doubtful Accounts = $500

Accounts Receivable = $500

and

Net accounts receivable after write off is

Accounts Receivable= $19,100

and

Allowance for doubtful debt= $500

so Net accounts receivable = $19,100 - $500

Net accounts receivable = 8,600

so Net accounts receivable Before $18,600 and After $18,600

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3 years ago

West County Bank agrees to lend Drake Builders Company $400,000 on January 1. Drake Builders Company signs a $400,000, 6%, 6-mon

viva [34]

Answer:

The answer is b.Cash ,000 Notes Payable ,000

Explanation:

The exact entry Drake Builders Company has to record in its accounting book for the proceeds received from the issuance of the note is:

1st January

Dr Cash 400,000

Cr Note Payable 400,000

As at the time the note is issued, no interest expenses has been incurred, all the answer with Interest expenses can be eliminated.

In fact, interest expenses is only incurred and accrued during the lifetime of the note, based on the number of days the note is hold; that is, from the day the fund is lend out to Drake Builders Company; not on the day of issuance.

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3 years ago

Identify the three components of retained earnings.

Hoochie [10]

The beginning period retained earnings, net profit/net loss made during the accounting period, and cash and stock dividends paid during the accounting period. (i may be wrong because there was no picture but i this is right)

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2 years ago

Explain why a city council meeting to discuss hiring more city employees must be open to the public, while a meeting to discuss

ad-work [718]

Answer:

The answer is because people should know who is coming into office, but they do not have the right to know why someone is being fired for private reasons.

Explanation:

It’s important for the hiring discussion to be made public by the city council since it relates to the use of public funds to compensate these additional workforces. In contrast, firing processes do not relate to incurring funds and thus the public does not need to know about the reasons of the firing.

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3 years ago