The _____ summarizes all of the journal entries which forms the basis for the financial statemen

Answers

Answer 1

The "general ledger" summarizes all of the journal entries that form the basis for the financial statements. The general ledger serves as the central repository or master account record where all financial transactions of a business are recorded and classified.

When a transaction occurs, it is initially recorded in the general journal, which is a chronological listing of all financial transactions. These individual journal entries provide detailed information about the specific accounts affected, the amounts debited or credited, and the nature of the transaction.

Subsequently, these journal entries are posted to the respective accounts in the general ledger. The general ledger organizes and consolidates the information from the journal entries into separate accounts, such as cash, accounts receivable, inventory, accounts payable, and so on.

At the end of an accounting period, the balances in the general ledger accounts are used to prepare the financial statements, including the income statement, balance sheet, and cash flow statement. The general ledger acts as the primary source of data for generating these statements, as it contains the summarized and classified information about the company's financial activities.

In summary, the general ledger summarizes all the journal entries and provides the basis for preparing the financial statements of a business. It serves as the central record of accounts where financial transactions are organized, classified, and stored for reporting and analysis purposes.

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Related Questions

What is the purpose of the qualifications section of a résumé?
To provide an employer with the applicant's contact information
b. To highlight why the applicant is the perfect candidate for the position
C. To give an employer an overview of the applicant's education history
d. To state the type of work the applicant is seeking​

Answers

Answer:

b

Explanation:

ddd

The correct option is C). To give an employer an overview of the applicant's education history.

What does qualifications mean on a resume?

A qualifications section of a resume refers to the customized section which consists of the education information about the candidate.

It is a brief highlight of relevant education, skills and experience, which shows the employer how the candidate will offer a competitive advantage.

Basically, qualifications section give an employer an overview of the applicant's education history.

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the purchase and sale of long-term assets and current investments are classified as:

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ash transactions that encompass purchase as well as sale of long-term assets as well as current investments can be considered to classified as Investing activities.

Investing activities can be regarded as one of the categories of net cash activities which is been reported by business on the cash flow statement.

It is the purchase as well as sale of long-term assets at a given period.

Therefore, Investing activities is correct.

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HELP PLEASE A project requires $94,346 of equipment that is classified as a 7-year property. What is the depreciation expense in Year 5 given the following MACRS depreciation allowances, starting with year one: 14.29, 24.49, 17.49, 12.49, 8.93, 8.92, 8.93, and 4.46 percent?
Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.

Answers

To calculate the depreciation expense in Year 5 using the MACRS depreciation allowances, we need to identify the depreciation rate for Year 5 and apply it to the initial cost of the equipment.

Given MACRS depreciation allowances for each year:

Year 1: 14.29%

Year 2: 24.49%

Year 3: 17.49%

Year 4: 12.49%

Year 5: 8.93%

Year 6: 8.92%

Year 7: 8.93%

Year 8: 4.46%

Since the equipment is classified as a 7-year property, we only need the depreciation rate for Year 5, which is 8.93%.

To calculate the depreciation expense in Year 5, we multiply the depreciation rate by the initial cost of the equipment:

Depreciation Expense in Year 5 = Depreciation Rate for Year 5 * Initial Cost of the Equipment

Depreciation Expense in Year 5 = 8.93% * $94,346

Calculating the depreciation expense:

Depreciation Expense in Year 5 = 0.0893 * $94,346

Depreciation Expense in Year 5 ≈ $8,426.02

Therefore, the depreciation expense in Year 5 is approximately $8,426.02.

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A deferred perpetuity-due begins payments at time n with annual payments of $2500 per year. If the present value of this perpetuity-due is equal to $18234.07 and the effective rate of interest i=0.08, find n.

Answers

The value of n is approximately 15. To find the value of n, we can use the formula for the present value of a perpetuity-due: PV = C / i * (1 - (1 + i)^(-n))

To find the value of n, we can use the formula for the present value of a perpetuity-due:
PV = C / i * (1 - (1 + i)^(-n))
Where:
PV = Present Value
C = Annual Payment
i = Effective interest rate
n = Number of periods
In this case, we are given:
PV = $18234.07
C = $2500
i = 0.08
Substituting these values into the formula, we can solve for n:
$18234.07 = $2500 / 0.08 * (1 - (1 + 0.08)^(-n))
Simplifying further:
1 - (1.08)^(-n) = 0.729636428
Now, we can solve for n by taking the logarithm of both sides:
log(1 - (1.08)^(-n)) = log(0.729636428)
Using a calculator or software, we find:
n ≈ 14.9986
Since n represents the number of periods, we can round it up to the nearest whole number:
n ≈ 15

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3. Not all the busines contracts
are legal. Justify.​

Answers

Answer:

They could be scams wanting money out of you. It is simple as that they can act as a business but they aren't. To be honest with you you are your own business because whatever you do is good or well so you don't need approval on others so my answer is scammers cause other businesses are working hard to make money and respect their customers!

Which of the following gas satisfaction measures wWhich of the following gas satisfaction measures would Be this for a company to use if they want to estimate how many customers might recommend them to their friends?

CES
CSAT
PSC
NPS​

Answers

Answer:

Simple Random Sample

Explanation:

A principal is not normally liable for the tort of an agent committed within the scope of the agency or employment. Group of answer choices False True

Answers

A principal is normally not liable for the tort of an agent committed within the scope of the agency or employment. True.

The "tort of an agent" refers to a legal concept where an agent, acting on behalf of a principal, commits a wrongful act or negligence that causes harm or injury to another party. In this context, a tort refers to a civil wrong that results in harm or loss to someone, leading to legal liability.

When an agent commits a tort, both the agent and the principal may be held liable, depending on the circumstances. The principal may be held liable for the actions of their agent if the agent was acting within the scope of their authority or carrying out tasks on behalf of the principal. This is known as vicarious liability or respondeat superior.

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Multiple Select Question Select all that apply Given the following information, analyze XYZ Company's liquidity. (Check all that apply.) Year 2013 Total quick assets $30,000 $40,000 Total current assets Total current liabilities $22,000 Acid-test ratio 1.36 Current ratio 1.82 Industry acid-test ratio 70 Industry current ratio 1.65 They are more liquid than others in their industry. They are less liquid than others in their industry They have sufficient quick assets to pay off short-term debt if needed. They don't have sufficient liquid assets to pay off short-term debt if needed.

Answers

Based on the given information, Company appears to be more liquid than others in their industry and has sufficient quick assets to pay off short-term debt if needed.

To analyze XYZ Company's liquidity, we can consider the acid-test ratio, current ratio, and industry benchmarks. The acid-test ratio measures the ability of a company to pay off its current liabilities using quick assets, which exclude inventory. The current ratio, on the other hand, includes all current assets.

In 2013, XYZ Company's acid-test ratio is 1.36, indicating that they have $1.36 of quick assets available to cover each dollar of current liabilities. This ratio is higher than the industry acid-test ratio of 0.70, suggesting that XYZ Company is more liquid than others in their industry. The higher the ratio, the better the company's ability to meet short-term obligations.

Similarly, the current ratio for XYZ Company is 1.82, which means they have $1.82 of current assets for every dollar of current liabilities. While the industry current ratio is 1.65, XYZ Company's current ratio is higher, indicating a stronger liquidity position compared to the industry average.

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Why is it significant for salespeople to know that value is a
subjective concept?
short answer

Answers

Value being a subjective concept is significant for salespeople because it allows them to understand.

By acknowledging the subjective nature of value, salespeople can better communicate the benefits and advantages of their products or services, emphasizing aspects that resonate with the customer's specific values. This understanding enables salespeople to build stronger relationships, enhance customer satisfaction, and increase the likelihood of making successful sales. This knowledge enables them to tailor their sales approach, highlight the unique benefits that resonate with each customer, and effectively communicate the value proposition. Ultimately, understanding the subjective nature of value helps salespeople build stronger customer relationships and increase their chances of success in closing deals.

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How do the potential costs and benefits of each career path affect your choice?

Answers

My decision is influenced by the potential costs and advantages of each job route because the amount of money I will make depends on how much I can spend.

What is a job?

Numerous things can be categorised as jobs. a paid position that might be either full- or part-time. a task that has been finished, usually for a specified fee. a specific task that employees carry out as part of their regular job responsibilities a pledge or commitment. like a project, "The airport job took twelve months to complete." It can also be used colloquially to refer to a person's pet using the restroom. As an illustration, to indicate that my dog went to the potty, I might say, "I waited for my dog Tommy to do his business, then we walked home." When someone says, "There has been a surge of bank jobs in suburbs," they can be referring to routine tasks that people carry out to obtain money, such as bank robberies.

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Present value. A promissory note will pay $25,000 at maturity 5 years from now. How much should you be willing to pay for the note now if money is worth 6.25% compounded continuously?

Answers

We use formula P = A * e^(-rt) to calculate the present value of a promissory note that will pay $25,000 at maturity 5 years from now with a continuous compounding interest rate of 6.25%. It is calculated that you should be willing to pay approximately $19,442.50 for the promissory note now.

A = $25,000.

r = 0.0625 (6.25% expressed as a decimal).

t = 5 years.

P = $25,000 * e^(-0.0625 * 5).

e^(-0.0625 * 5) ≈ 0.7777.

Multiplying by $25,000.

P ≈ $25,000 * 0.7777.

P ≈ $19,442.50.

Therefore, you should be willing to pay approximately $19,442.50 for the promissory note now, considering a continuous compounding interest rate of 6.25%.

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What is the name for a loan with a co-signer

Answers

Answer:

co-borrowers

Explanation:

They are joint borrowers that are sharing and have to repay a debt together.

Describe some of the powerful marketing tactics used by the credit card industry?

Answers

Answer:

nice packaging in mail, introductory benefits, free gifts, barbie example

The single-price monopoly equilibrium is Pareto ineffcient and leads to a positive deadweight loss. However, monopolies also have certain benefits in terms of technical progress, innovation, unique products/services and fostering of entrepreneurship. Do you agreee with the view that monopolies should be heavily regulated by the government ? Or should governments intervene only as and when necessary ?

Answers

Views on the regulation of monopolies vary among economists and policymakers. Some argue that monopolies should be heavily regulated by the government to prevent abuses of market power, protect consumer welfare, and promote competition.

They argue that unregulated monopolies can lead to higher prices, reduced output, and limited consumer choice, which can result in inefficiencies and harm to the economy.

Others advocate for a more limited role of government intervention, intervening only when necessary to address specific market failures or anti-competitive behavior. They argue that monopolies, despite their drawbacks, can also bring benefits such as economies of scale, innovation, and investments in research and development.


The approach to regulating monopolies often depends on specific circumstances and the balance between promoting competition and encouraging innovation. Governments may use a combination of regulatory measures, such as antitrust laws, price controls, or promoting market entry, to strike a balance between preventing abuses and allowing market forces to operate efficiently.

Overall, the question of whether monopolies should be heavily regulated or regulated only as necessary is a complex and nuanced issue, and different perspectives exist based on varying economic and policy considerations.


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Before we dig into Home Safety... Why is home safety important to learn about? In what ways can being educated in
home safety help you as you begin to purchase a home, move into a new home, and observe new homes that you visited?

Answers

Answer:

so you cant die

Explanation:

The attempt to recognize and manage potential and unforeseen trouble spots that may occur when a project is implemented is known as.

Answers

The attempt to recognize and manage potential and unforeseen trouble spots that may occur when a project is implemented is known as Risk management.

What is Risk management?To minimize, monitor, and control the probability or impact of unfortunate events or to optimize the realization of possibilities, risk management entails the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives).Instability in global markets, threats from project failures (at any stage of design, development, production, or maintenance of life cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events with uncertain or unpredictable root causes are just a few examples of the many different types of risks that can arise.There are two different kinds of events; the former are categorized as dangers and the latter as opportunities.

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kurt is responsible for establishing organization-wide policies and strategies, and making long-term decisions that affect the organization as a whole. kurt would be characterized as a manager. multiple choice question. nonsupervisory first-line top middle

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Kurt is responsible for establishing an organization-wide policies and strategies, and then also making long-term decisions which affect the organization as a whole. Kurt would be characterized as a top manager.

The organizational policies and the strategies tend to often work together. As, a strategic vision is known to be set by the top management which tend to help and then provide a good plan for the company's growth.

However, in an organization there are the top managers who are said to be responsible for making the organization-wide decisions and establishing the plans and thus set the goals which then tend to affect the entire organization.

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Answer:top

Explanation:

Is this counted in the GDP of a country ?The services of a mechanic in fixing the radiator on his own car.

Answers

Answer:

Yes this could be counted as GDP

Explanation:

List of People and Business you would include on your team:​

Answers

Answer:

Technologically wise poeple

I have a zeal for learning coding

) If the cross-price elasticity of demand between two goods is positive, those goods are called _____ goods.

Answers

Goods with a positive cross-price elasticity of demand are called substitute goods. Substitute goods are products that can be used as alternatives to each other for fulfilling a particular need or purpose.

When the cross-price elasticity of demand between two goods is positive, it indicates that an increase in the price of one good leads to an increase in the quantity demanded of the other. In other words, when the price of a substitute good rises, consumers tend to shift their demand towards the other substitute good, resulting in a positive relationship between the two goods.

For example, consider the market for coffee and tea. If the cross-price elasticity of demand between coffee and tea is positive, it means that an increase in the price of coffee would lead to an increase in the quantity demanded of tea. This suggests that coffee and tea are substitute goods. When the price of coffee rises, some consumers may switch to purchasing more tea instead. Similarly, if the price of tea increases, some consumers may choose to switch to consuming more coffee. The positive cross-price elasticity of demand between coffee and tea indicates that these goods can be easily substituted for one another based on their relative prices.

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xavier is doing reconnaissance. he is gathering information about a company and its employees by going through their social media content. xavier is using a tool that pulls information from social media postings that were made using location services. what is the name of this tool?

Answers

Xavier is conducting an investigation. He is using this technology to look through a company's social media postings to learn more about it and its personnel Echosec.

By utilising open-source data, Echosec Systems enables businesses all over the world to better protect their employees, reputation, and assets.

Echosec is a vital open-source intelligence (OSINT) tool for intelligence analysts and physical security groups in charge of crisis monitoring, executive and brand protection, misinformation research, and geopolitical risk assessment. Starting now.

In terms of online information research and data collection, Echosec Systems is a pioneer. In order to discover crucial internet data faster for threat intelligence and risk management, their technologies, Echosec and Beacon, give enterprises the power.

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help if you can thank you

help if you can thank you

Answers

Answer:

3rd one I'm pretty sure, if not then I'm srry lol

Explanation:

its common sense

write the
5 imp of professsion​

Answers

1. Willingness to learn
2. Positive attitude
3. Conflict resolution
4. Helpfulness
5. Integrity

there’s more!!

You manage a group of people from all five working generations. The makeup of your work group marches the percentage breakdown of the current US workforce. Which type of communication style would be preferred by the generation with the most people?

Email

Social media

Text

IM

Answers

Among the five working generations in the current US workforce, the communication style preferred by the generation with the highest representation would be social media.

Considering the percentage breakdown of the current US workforce, the generation with the most people is likely to be the Millennials (also known as Generation Y). This generation, born between the early 1980s and mid-1990s, grew up during the rise of social media platforms. They are generally tech-savvy, comfortable with digital communication, and value convenience and efficiency in their interactions.

Given these characteristics, Millennials are more likely to prefer social media as their preferred communication style. Social media platforms offer real-time updates, instant messaging features, and the ability to share information and engage in discussions. These platforms provide a convenient and efficient way to connect with colleagues, share ideas, collaborate on projects, and stay informed about work-related matters.

While other communication methods such as email, text, and instant messaging (IM) are also used by different generations, social media is particularly favored by Millennials due to its interactive and engaging nature. It allows for quick and informal communication, making it well-suited for their preferences and communication style.

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Fifty-five percent of the applications received for a particular credit card are accepted. Among the next twelve applications, what is the probability that exactly 4 will be accepted?

Answers

The probability that exactly 4 out of the next 12 applications will be accepted is approximately 0.1147.

The probability of exactly 4 out of the next 12 applications being accepted can be calculated using the binomial distribution. The binomial distribution is used to model the number of successes in a fixed number of independent trials, where each trial has only two possible outcomes (success or failure) and the probability of success is the same for each trial.

In this case, each application is a trial, and the outcome is either accepted (success) or not accepted (failure). The probability of success (an application being accepted) is 0.55. The number of trials is 12 (the next 12 applications).

The probability mass function for the binomial distribution is given by the formula: \(P(X = k) = \binom{n}{k} \cdot p^k \cdot (1 - p)^{n - k}\), where n is the number of trials, k is the number of successes, p is the probability of success, and (n choose k) = n! / (k! × (n - k)!).

Plugging in the values for this problem, we get: P(X = 4)

= \(\binom{12}{4} \cdot 0.55^4 \cdot (1-0.55)^{12-4}\)

= 0.1147.

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Hey, can I please get some help? Thank you!

Hey, can I please get some help? Thank you!

Answers

Lower interest rates make it cheaper to borrow. This tends to encourage spending and investment. This leads to higher aggregate demand (AD) and economic growth.

2.When interest rates are rising, both businesses and consumers will cut back on spending. This will cause earnings to fall and stock prices to drop. ... As interest rates move up, the cost of borrowing becomes more expensive. This means that demand for lower-yield bonds will drop, causing their price to drop.

Martin owns a store that sells four different products. Each product has the same unit selling price and equal unit variable costs. This month, the sales mix has been calculated and each of the four products constitute 25% of sales as determined by number of units sold. Does Martin need to calculate the weighted-average unit contribution margin this month

Answers

Answer:

No, the weighted-average unit contribution margin is equal to the contribution margin for each of the products.

Explanation:

The weighted-average unit contribution margin is not impacted by the company-wide break-even point in units.

The weighted-average unit contribution margin is NOT equal to the contribution margin for each of the products.

The weighted-average unit contribution margin IS dependent on the sales mix percentage.

please help in business with this work management tool​

please help in business with this work management tool

Answers

The above tool could be best used as a spreadsheet to manage workload by prioritizing tasks based on their importance and setting specific scheduling details for each task.

What is the explanation for the above response?

The tool can be used to track progress and identify any barriers to performance that may arise during the completion of the task.

Also, a contingency plan can be developed to ensure that the task is completed even if unforeseen issues arise. By using this tool, one can manage their workload more effectively and efficiently by breaking down complex tasks into smaller, more manageable steps.

This tool can also help to ensure that deadlines are met and that goals are achieved in a timely manner.

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3) What is the present value of $1000, received at the end of 4 years of investment, with a discount rate of 4%?

3) What is the present value of $1000, received at the end of 4 years of investment, with a discount

Answers

Answer:

$854.81

Explanation:

The formula for calculating the present value is as below

PV = FV/( 1 + r)^n

Where Fv =1000

r = 4% or 0.04

n= 6

PV = $1000/ (1 + 4/100)^4

PV=$1000/(1 + 0.04)^4

PV=$1000/1.16985

PV =$854.81

.

Answer:

3629.9

Explanation:

I just did the test and thats what it told me the correct answer was.

mary stahley invested $3500 in a 12-month certificate of deposit (cd) that earned 6.5% annual simple interest. when the cd matured, she invested the full amount in a mutual fund that had an annual growth equivalent to 14% compounded annually. how much was the mutual fund worth after 9 years? (round your answer to the nearest cent.)

Answers

The mutual fund was worth $12121.63 after 9 years with $3500 as principal,  6.5% as the rate for 1 year reinvested at 14% compounded annually for 9 years.

What are mutual funds?

You can combine your funds with other investors through mutual funds to purchase a variety of stocks, bonds, or other securities that might be difficult for you to assemble on your own. A portfolio is a common name for this. The price of a mutual fund, also known as that fund's net asset value (NAV), is determined by dividing the total value of the portfolio's securities by the number of outstanding shares of the fund. The value of the securities held by the portfolio at the end of each business day affects this price. Investors in mutual funds should be aware that they only actually own shares of the fund; they do not actually own the securities that the fund invests in.

To solve the question :

Data provided in the question:

Initial amount invested = $3500

Simple interest rate = 6.5%

Duration for simple interest = 12 months

= 1 year

Now,

Simple interest = Amount × Interest rate × Time

= $3,500 × 0.065 × 1

= $227.5

Therefore,

Total amount = $3500 + $227.5

= $3727.5

Now

Amount = $3727.5

The amount is invested in a mutual fund which is compounded annually at 14% for 9 years

Thus,

Final amount = Principle × (1 + r)ⁿ

here, r = 14% = 0.14

n = 9 years

Therefore,

Final amount = \($3727.5 (1 + 0.14)^{9}\)

= 3727.5 × 3.25

= $12121.63

Hence, the mutual fund was worth $12121.63

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