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Sphinxa [80]
1 year ago
5

George works in the accounting department at the Green Goddess Lawn Services, where it is his job to record all transactions int

o journals. After completing this task, the next step in the accounting process is to:
Business
1 answer:
Sedbober [7]1 year ago
7 0

Answer:

The correct answer is post the information to the ledger.

Explanation:

In accounting, the general ledger is a document where all the transactions of corporations are recorded in chronological order. Each account must have a different book, which must be affected each time the accounts are involved in this process. These records make it possible to know the movements in a more detailed way, since unlike the journal in this case, only a single group of accounts is known and not the whole.

You might be interested in
"Your team is allocated a project involving a major client, the Beswick Company. Although the organization has many clients, thi
ser-zykov [4K]

Answer:

B. a high degree of centrality

Explanation:

According to the model of power, there are four contingencies of power which are; <u>centrality</u> ,substitutability, visibility and discretion and each may be high or low within the organization, depending on the scenario.

Centrality refers to <u>how dependent others are, on the person or group holding power, and to what extent the actions of those holding power can affect the people depending on them.</u>

The higher the number of people dependent on the power holder, the higher the degree of centrality.

Therefore, my team has a high degree of centrality because the work of several other teams are dependent on my team's performance.

6 0
1 year ago
Midyear on July 31st, the Digby Corporation's balance sheet reported: Total Liabilities of $77.152 million Cash of $6.030 millio
jonny [76]

Answer:

$45.027 million

Explanation:

The accounting equation shows the relationship between the various elements of the balance sheet. These are the assets, liabilities and equity. It is given as

Assets = Liabilities + Equity

The owner's equity is made up of the common stock and retained earnings (which is the net income less dividend paid over the period).

Equity = $125.989 million - $77.152 million

= $48.837  million

Retained earnings = Equity - Common stock

= $48.837  million - $3.810 million

= $45.027 million

Digby Corporation's retained earnings is $45.027 million

5 0
1 year ago
On December 31 of the current year, Plunkett Company reported an ending inventory balance of $219,000. The following additional
Alexxx [7]

Answer:

The ending inventory balance is $158,400

Explanation:

The computation of the amount that Plunkett should report in ending inventory  is shown below:

= Ending balance - goods purchased under FOB destination - goods held on consignment

= $219,000 - $44,800 - $15,800

= $158,400

hence, the ending inventory balance is $158,400

we simply applied the above formula so that the correct value could come

6 0
1 year ago
Where does the management accounting function fit into an organization's structure?
LUCKY_DIMON [66]

Management accounting is the process of measuring and analyzing financial and non-financial information that is relevant to the company.  This is an important part of the Controller’s function in an organization since the Controller directly reports to the chief financial officer. The report contains pieces of information which contributes in making strategic decisions to achieve the goal of the organization. 

6 0
1 year ago
Chiller Company has credit sales of $5.60 million for year 2013. Chiller estimates that 1.32% of the credit sales will not be co
dsp73

Answer:

$59,045.80

Explanation:

The following information was missing:

Accounts Receivable total $1,565,170

Assuming the company uses the percent of accounts receivable method, what is the amount that Chiller will enter as the Bad Debt Expense in the December 31 adjusting journal entry?  

total uncollectible debt = $1,565,170 x 4% = $62,606.80

since the account balance of the allowance for doubtful accounts is $3,561 (credit), the adjusting entry should be:

December 31, 2013, bad debt expense

Dr Bad debt expense (= $62,606.80 - $3,561) 59,045.80

    Cr Allowance for doubtful accounts 59,045.80

7 0
2 years ago
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