What four different types of adjustments are frequently necessary at the close of an accounting period? Give
Question:
What four different types of adjustments are frequently necessary at the close of an accounting period? Give examples of each type.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
1 Allocating assets to expense to reflect expenses incurred during the period ...View the full answer
Answered By
Nazrin Ziad
I am a post graduate in Zoology with specialization in Entomology.I also have a Bachelor degree in Education.I posess more than 10 years of teaching as well as tutoring experience.I have done a project on histopathological analysis on alcohol treated liver of Albino Mice.
I can deal with every field under Biology from basic to advanced level.I can also guide you for your project works related to biological subjects other than tutoring.You can also seek my help for cracking competitive exams with biology as one of the subjects.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
Question Posted:
Students also viewed these Business questions
-
What are four different types of real options commonly found in business?
-
Four different types of solar energy collectors were tested. Each was tested at five randomly chosen times, and the power (in watts) was measured. The results were as follows. a. Construct an ANOVA...
-
Badger Chair Company makes four different types of chairs: Regular, Standard, Business, and Deluxe. The latter two types of chairs were introduced in 2022. The production and sales of each type of...
-
What is step-down allocation? What are some criticisms of this allocation method?
-
A cylinder fitted with a piston contains liquid methanol at 20C, 100 kPa and volume 10 L. The piston is moved, compressing the methanol to 20 MPa at constant temperature. Calculate the work required...
-
Morgan Company acquires all of the outstanding shares of Jennings, Inc., for cash. Morgan transfers consideration more than the fair value of the companys net assets. How should the payment in excess...
-
Suppose the purchase price of the forklift is \($20,000,\) its residual value in four years is certain to be \($6000,\) and there is no risk that the lessee will default on the lease. If the...
-
Moura Industries Inc. manufactures recreational vehicles. Moura uses a job order cost system. The time tickets from August jobs are summarized below. Job 410 $3,400 Job 411 1,700 Job 412 1,400 Job...
-
Answer the question by showing the calculation procedure. Verified the answer by using the MATLAB coding. Submit all the answers (calculation procedure & MATLAB code) to MS Team. For all of the...
-
1. Meir, Benson, and Lau are partners and share income and loss in a 3:2:5 ratio. The partnership's capital balances are as follows: Meir, $168,000; Benson, $138,000; and Lau, $294,000. Benson...
-
On January 1, Prepaid Insurance was debited with the cost of a two-year premium, $1,872. What adjusting entry should be made on January 31 before financial statements are prepared for the month?
-
Why is the adjusting step of the accounting cycle necessary?
-
Economists define normal goods as having a positive income elasticity. We can divide normal goods into two types: Those whose income elasticity is less than one and those whose income elasticity is...
-
Explain how the monthly wage tax form works. How do I come up with the calculations?
-
According to Psychology of Waiting Lines, pre-process waits are perceived longer than in-process waits. Explain.
-
How to include an argument/parameter variable to this existing code? # Constant variables assignmentweight= 0.3 quizweight= 0.3 examweight= 0.4 def calculateGPA(): #Input the student's name...
-
A startup has 1,000 shares outstanding. A VC offers to invest $300,000 at a pre-money price of $1,500 per share. What is the pre-money valuation? Give your answer in millions of dollars (for example,...
-
If you were about to receive a 30 year fixed interest mortgage for $280,000 at 3.3% interest, what would your monthly payments be?
-
Let T: C3 C4 be given by Find a basis of R(T). Is T surjective? a +b-c a-b c
-
What are multinational corporations (MNCs) and what economic roles do they play?
-
The following items are taken from the 2008 balance sheet of Yahoo! Inc. (All dollars are in thousands.) Intangible assets ............... $3,926,749 Common stock ................. 6,282,504 Property...
-
These items are taken from the financial statements of Xenox Corporation for 2012. Retained earnings (beginning of year) ... $31,000 Utilities expense .............. 2,000 Equipment ..................
-
You are provided with the following information for Merrell Enterprises, effective as of its April 30, 2012, year-end. Accounts payable ........... $ 834 Accounts receivable ........... 810...
-
PURPOSE The purpose of this assignment is to develop learners' ability to identify and analyze the causes of low job satisfaction from an organisational behavior perspective and suggest how managers...
-
Kubin Company's relevant range of production is 19,000 to 20,000 units. When it produces and sells 19,500 units, its average costs per unit are as follows: Direct materials Direct labor Variable...
-
On December 31, 2020, Winds Company purchased a controlling interest in Coronado Company for $1,040,000. The consolidated balance sheet on December 31, 2020 reported noncontrolling interest in...
Study smarter with the SolutionInn App