Which of the following accounts will usually appear in the post-closing trial balance? a. Accounts Receivable b. Cash c. Depreciation Expense d. Fees Earned e. Doug Woods, Capital f. Doug Woods, Drawing g. Equipment h. Land i. Salaries Payable j. Unearned Rent k. Wages Expense

Answers

Answer 1

Answer:

Explanation:

While preparing the post closing trial balance, we record the permanent account while the temporary accounts are not records. So, the permanents accounts that are recorded are given below:

a. Accounts Receivable

b. Cash

c. Doug Woods, Capital

d. Equipment

e. Land

f. Salaries Payable

g. Unearned Rent

All other account balances reflects that they are temporary accounts. Hence, ignored it

Answer 2

Answer:

The post-closing trial balance will typically include Accounts Receivable, Cash, Doug Woods, Capital, Equipment, Land, and Salaries Payable. It doesn't include temporary accounts which are closed at the end of the period.

The post-closing trial balance includes only the permanent or real accounts that have balances after the closing process. In the case of the accounts provided, the post-closing trial balance will usually include a. Accounts Receivable, b. Cash, e. Doug Woods, Capital, g. Equipment, h. Land, and i. Salaries Payable. Temporary or nominal accounts such as c. Depreciation Expense, d. Fees Earned, f. Doug Woods, Drawing, j. Unearned Rent, k. Wages Expense are closed at the end of the period and therefore, don't usually appear in the post-closing trial balance.

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Answers

Answer:

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Explanation:

Use the following information: Beginning cash balance on March 1, $76,000. Cash receipts from sales, $304,000. Budgeted cash payments for direct materials,$137,000. Budgeted cash payments for direct labor $77,000. Other budgeted cash expenses, $43,000. Cash repayment of bank loan, $10,000. Prepare a cash budget for the month ended on March 31 for Gado Company. The budget should show expected cash receipts and cash disbursements for the month of March and the balance expected on March 31.

Answers

Answer:

Ending Cash balance 113,000

Explanation:

Beginnin 76,000

Cash receipts 304,000

payment of DM (137,000)

payment of DL (77,000)

other cash expenses (43,000)

loan repayment (10,000)

Ending Cash balance 113,000

Use the following classification to determine which category each of the following goods falls into. Goods Private Good Club Good Common Resource Public Good Museums that require admission fees Public swimming pools with free admission during summer Metered parking at a municipal parking lot Flood control Public basketball courts

Answers

Answer:

swimming pool is public good. basketball court public good. museums with admission fee are club good, metered parking public good. flood control public good

Explanation:

Constant cost industries: a. use large portions of the total supply of specialized resources.
b. significantly increase the demand for inputs when expanding output, and as a result, input prices rise
c. do not use inputs in sufficient quantities that a change in industry output would affect the prices of the inputs.
d. are those in which the cost curves of individual firms shift upwards as industry output expands.

Answers

Answer:

The correct answer to the following question will be Option C.

Explanation:

Constant cost industries seem to be a sector wherein the proportion of units produced as well as manufacturing costs every unit maintains the very same irrespective including its amount of manufacturing or rise in population. Which doesn't use input data in the appropriate amount to influence the rates of that same components by a shift in industry revenue.
This doesn't even use inputs in such amounts that perhaps the costs of that same inputs will be influenced by a change in business production.

The other choices are not linked to an industry of this kind. Therefore the clarification above is correct.

Of the following groups, which benefits most from a government price support program that establishes a floor price for an agricultural product that is higher than the product's market clearing price? Select one: a. Consumers, who purchase more units of the product than they did before the price support program was implemented

b. Taxpayers, who no longer must provide funds to purchase surplus units of the product once the price support program is in place

c. The government, which receives subsidy payments from producers that are required to sell more of the product at a higher price under the government's program

d. Producers, who earn a higher price on the sale of each unit and also sell more units, thereby unambiguously earning higher revenues

Answers

Answer:

d. Producers, who earn a higher price on the sale of each unit and also sell more units, thereby unambiguously earning higher revenues

Explanation:

A government price support program is when the government impose a price limit on a product to control the price of the product i.e price floor, and also the purchase of any surplus. The price floor and the purchase of any surplus for the product encourages the producers to produce more of the product.

Since price floor must be higher than the equilibrium price for it to be effective, the producers of the agricultural product earn more by selling in units and also earn more for selling any surplus to the government.

Which of the following statements are inconsistent with the efficient market hypothesis?a. The average annual return on stocks is greater than zero. b. Stocks that outperform the index in March always underperform it in April. c. Half of fund managers are able to beat their relevant index each year, before fees. d. Stocks that outperform the index in March always outperform it in April.

Answers

Answer:

b. Stocks that outperform the index in March always underperform it in April.

d. Stocks that outperform the index in March always outperform it in April.

Explanation:

The Efficient market hypothesis states that in an efficient market, all the available information in the market are reflected in the prices of the stocks being traded. As such, all stock are fairly priced.

Stocks that perform in a certain way in March and then in another way in April are violations of the hypothesis. This is because if indeed the market was efficient, the prices would adjust to reflect the different performances by month such that there would be no more fluctuations.

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