What merchandising account(s) will appear in the post closing trial balance?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (18 reviews)
A post closing trial balance is prepared to ensure the clerical accuracy of all th...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
Prepare the Post Closing Trial Balance by considering all balances as normal. An accountant prepared the following post-closing trial balance: Rhombic Repairs Co. Post-Closing Trial Balance March 31,...
-
What merchandising account(s) will appear in the post-closing trial balance?
-
The post closing trial balance of Baher & Maher Partnership and Amin & Yasin partnership follows: Baher & Maher Amin & Yasin Trial Balance Trial Balance Dr. (S) | Cr. (S) Dr. (S) | Cr. (S) Cash...
-
(a) Let f(x)=2x+1. Use definition of the derivative to compute f'(x). (No other method will be accepted, regardless of whether you obtain the correct derivative.) (b) Find the tangent line to the...
-
On December 31, 2017, shareholders' equity accounts of Green Products Inc. (GPI) had the balances shown below. GPI paid dividends of $4,096 on December 1, 2017....
-
PENCOMPs balance sheet at December 31, 2025, is as follows. Additional information concerning PENCOMPs defined benefit pension plan is as follows. Other information about PENCOMP is as follows....
-
Describe the various roles of advanced practice nurses.
-
1. A principal source of revenue for hospitals is from patient services. Patient services revenue for hospitals is recorded at: a. Amounts actually billed to patients b. The hospitals full...
-
Tax on purchases during the year Interest from a savings account Interest from City of Boston Bonds Dividend from 3 M stock $ 1 , 4 0 0 5 0 0 9 , 0 0 0 2 , 6 0 0 1 , 0 0 0 6 , 2 0 0 8 0 0 7 0 0 4 0 0...
-
The following information is available on the Vanier Corporation: BALANCE SHEET AS OF DECEMBER 31, 20X6 (IN THOUSANDS) INCOME STATEMENT FOR 20X6 (IN THOUSANDS) Credit sales..$8,000 Cost of goods...
-
Explain why the Merchandise Inventory account will usually require adjustment at year-end.
-
What is the difference between an account receivable and a note receivable?
-
Identify three situations in which a Company Diamond analysis would be useful to you. What two rules about data collecting should you remember when you do a diamond analysis?
-
1. Suppose that many US universities rely on international graduate students as a primary revenue source. Suppose further that something happens which causes the number of student visas issued by the...
-
Scenario Labor Expense Salvage Value of Buildings Salvage Value of Land Best Case $200,000 $150,000 $300,000 Expected Case 250,000 100,000 200,000 Worst Case 350,000 20,000 40,000 Make a scenario...
-
The Global Division of Station Depot has invested capital of $920,000. If residual income is $4,600 and net operating profit after taxes is $69,000, how much is the cost of capital?
-
A borrower will make payments continuously at a constant rate of 5200 per month on a five year car loan with an interest of 4% per year that is compounded continuously. Write down an initial-value...
-
1. Using the Black-Scholes model compute the value of a European call option on a non- dividend paying stock with an exercise price of $40 and an expiration date 6 months from now when the stock...
-
In a recent year, Derek Corporation had net income of \(\$ 150,000\), interest expense of \(\$ 30,000\), and income tax expense of \(\$ 20,000\). What was Derek Corporation's times interest earned...
-
Calculate I, , and a for a 0.0175 m solution of Na 3 PO 4 at 298 K. Assume complete dissociation. How confident are you that your calculated results will agree with experimental results?
-
Match each genetic term appropriately. cross involving two traits cross involving one trait homozygous condition heterozygous condition a. Aa x Aa b. Aa c. AABB X aabb d. aa
-
Information related to Bee Company for 2010 is summarized below. Total credit sales........... $1,100,000 Accounts receivable at December..... 31 369,000 Bad debts written off.......... 22,150...
-
Presented below is an aging schedule for Jafar Company. At December 31, 2010, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $16,000. Instructions (a) Journalize and post...
-
The following represents selected information taken from a companys aging schedule to estimate uncollectible accounts receivable at year end. Instructions (a) Calculate the total estimated bad debts...
-
Have a brief introduction, discussion of the topics/points, and a conclusion.what you have learned during the course( Organizational Dynamics and Effectiveness).Their relevance to your career....
-
Using the article provided below, you are required to analyse the company information to define the business goals and evaluate whether the supply chain is a strategic fit with the business and...
-
Create output that shows a scatterplot with a line of best fit for your data. Explain what a line of best fit is? Submit both the output file (SPSS) as well as your Word summary.
Study smarter with the SolutionInn App