how can the balance at the end of any year be determined?

Q: Which of the following transactions does not involve an accrual? a. Recording interest earned that…

A: Accrual accounting principle states that any income or expenses which are earned or incurred in the…

Q: Accounts payable, in general, is classified as current when and only:   When it is expected to be…

A: A business's operating cycle can be longer or shorter than one year.

Q: What type of business would choose a fiscal year (that corresponds to its natural business year)…

A: • Fiscal year: A fiscal year is a period of 12 months used by the organizations for financial…

Q: Both are sub parts of single question 1.1 Which of the following is an example of an accrued…

A: The question is based on the concept of Financial Accounting. As per the Bartleby guidelines we are…

Q: When is the does company fiscal year end?

A: Fiscal year- It is the 12 month period which company uses for the purpose of accounting i.e.,…

Q: When salaries and wages expense for the year is computed, why are beginning accrued salaries and…

A: Salaries and wages expense: Salaries and wages expense is an expense which is made to an employee…

Q: What total amount should þe charged to repair and maintenançe expense in the current year?

A: Repair and maintenance expense: the repair and maintenance expense is the expense incurred to ensure…

Q: What is the balance of D's capital account at the end of the second year?

A: The partnership between partners and the distribution of profits and losses is governed by mutual…

Q: What is the value of the balance carried forward into November?

A: VAT Control Account is prepared to records the entries related to VAT. Under this account, all the…

Q: The amount in year 1 is $

A: Annual Worth Net of all the benefits and costs incurred over a one-year period is called annual…

Q: What is the adjusted balance of the company’s Accumulated profit account at the end of year?

A: Retained Earnings Retained earnings which is treated as additional reserves for the business.   For…

Q: What is a calendar year? What is a fiscal year?

A: The question is based on the concept of accounting theory

Q: interest expense for the year

A: Interest expense on note = Face value of the note * Interest rate per annum

Q: What's the cash balance at the end of the month?

A: Budgets are the mainly called the estimates made for future period of time. Cash budget is one of…

Q: When / what date is the fiscal year if the ending is March 31,2020?

A: Fiscal year refers to the year or period which is for a period of 12 months, which could be July 1 -…

Q: What is the imapct on the accoutning equation when a current month's utility expense is paid?

A: Accounting equation:   Accounting equation is an accounting tool expressed in the form of equation,…

Q: Which of the following accounts will. It be closed to the capital account at the end of the year ?…

A: At the end of accounting period, all revenues and expenses accounts are closed and their balances…

Q: Does every adjusting entry affect net income for a period? Explain.

A: Net income: Net income is the excess amount of revenue which is arises after deducting all the…

Q: Determine the net income or net loss for October.

A: Net income (NI), often known as net profits, is calculated by subtracting revenue from production…

Q: How have the accounting regulations governing the accounting for SPE’s changed over the past 20…

A: Special Purpose Entity It is a legally separate business that absorbs risk for a corporation. A…

Q: State the entries in the expanded accounting equation for the year ended 31 December 2020. Enter…

A: Debit what comes in, Credit what goes out. Debit the receiver, Credit the giver. Debit all expenses…

Q: What are the accounts that remain open and carried over from year to year?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: 6. Which of the following is a record of all the account balances at the year end, and is used to…

A: Introduction: Income statement: All revenues and expenses are shown in income statement. It tells…

Q: ts. Before any year-enc oubtful Accounts had Accounts will be based

A: Calculation of balance of allowance for uncollectible accounts Days account outstanding amount…

Q: How does receiving a utility bill to be paid next month affect the accounting equation?

A: Accounting equation: Assets = Liabilities + Stockholders' equity

Q: What is the Balance for December 31?

A: Accounting equation shows the effectiveness of double entry books system where each transaction…

Q: nancial year stating up to.......

A: The financial year is the period during which money is earned. Salaried professionals and senior…

Q: Which of the following happens only at the end of the year? a. Closing of temporary accounts b.…

A: Accounting the whole process of recording, classifying and summarising accounting information in…

Q: Which accounts remain open at end of year and carried over to the following year?

A: Introduction: Temporary accounts: At the end of the accounting period all temporary accounts are…

Q: What is the unpaid balance after 12 months? $ During this time period, how much interest did she…

A: Loan amortization: Loan amortization refers to a schedule that is prepared to show the periodic loan…

Q: 1. If at the end of the year, the Estimated Uncollectible Account is to be provided at 3% of its…

A: “Since you have posted a many question with multiple sub-parts, we will solve first question with…

Q: If a business had a net loss for the year, where would the net loss be reported on the worksheet?

A: Net loss: When the earned revenues are more than the cost or expenses incurred, it is termed as net…

Q: b. What is the balance owing at the end of January? PLEASE NOTE INTEREST IS CALCULATED ONCE PER…

A: The question is based on the concept of Financial Accounting.

Q: What is the balance of accounts payable at May 31st?

A: Accounts payable balance should be as per terms of cash payment.

Q: 2. Compute the estimated uncollectible amount for each age category and in total. Amount Not yet due…

A: Aging Method of Accounts Receivables:- In this method, the company estimates the uncollectible…

Q: Choose from the following list of terms and phrases to best complete the statement: A(n) ___________…

A: The question is multiple choice question. Required  Choose the Correct Option.

Q: What balance do the bills have buildings and amortized buildings on 31/12/2018 before the adjustment…

A: Carrying value of the assets is the value of the assets in the books of accounts or in the balance…