All categories

2 years ago

Why are posting references entered in the journal when entries are posted to the ledger accounts?

Business

1 answer:

wolverine [178]2 years ago

3 0

Answer:

c. So we know that the entry has been posted.

Explanation:

The posting reference are entered in the journal entries are done so as to find them in the account ledgers and these entres are post in the this account is insert to keep and store the booking entry for the balance sheets and includes the incomes statements and accounts like the receivables and the accounts payable and accrued expenses also.

You might be interested in

An entrepreneurial team is a group composed of the entrepreneur plus the firm's banker, cpa, and attorney. the firm's managers.

makvit [3.9K]

Answer:

"An entrepreneurial team is a group composed of the entrepreneur plus the firm's banker, CPA, and attorney."

Explanation:

An entrepreneurial team usually consists of 2 or more people with a great interest in the success and future of a company. The work of this team is interdependent as they pursue common goals for success for the venture. They are usually interested in the financial and other areas of a company and include the entrepreneur, the CPA, attorney, and the organization's banker.

8 0

2 years ago

First National Bank charges 13.6 percent compounded monthly on its business loans. First United Bank charges 13.9 percent compou

melomori [17]

Answer:

First National EAR 14.48%

First United EAR 14.38%

Explanation:

Calculation to determine Calculate the EAR for First National Bank and First United Bank.

Using this formula

EAR = [1 + (APR / m)]m − 1

Let plug in the formula

First National EAR = [1 + (.136 / 12)]12 − 1

First National EAR= .1448*100

First National EAR=14.48%

First United EAR = [1 + (.139 / 2)]2 − 1

First United EAR = .1438*100

First United EAR = 14.38%

Therefore the EAR for First National Bank and First United Bank will be :

First National EAR 14.48%

First United EAR 14.38%

8 0

2 years ago

Montclair Corporation had current and accumulated E&P of $500,000 at December 31, 20X3. On December 31, the company made a d

siniylev [52]

Answer:

The tax consequences of the distribution to Montclair in 20X3 would be a $150,000 gain recognized and a reduction in E&P of $175,000.

Explanation:

The distribution company distinguishes profit on the distribution, which is included in E&P netting of tax and decreases E&P by rhe lands fair market value fewer the liability believed by the shareholders.

Therefore, The tax consequences of the distribution to Montclair in 20X3 would be a $150,000 gain recognized and a reduction in E&P of $175,000.

3 0

2 years ago

How much does a social worker make an hour?

Degger [83]

A social worker makes $21.35 a hour.
HOPE THIS HELPS YOU! ^_^

4 0

2 years ago

The director of marketing has asked the app builder to create a formula field that tracks how many days have elapsed since a con

olya-2409 [2.1K]

Answer:

D. Today()

Explanation:

Date value function: This function converts the date form into the text form. For example, The date is 21/08/2019 so, this function coverts August 21, 2019.

Now function: This function shows the current date and the time which is actually shown in the computer system.

Date function: In this function, we take the month, date, and the year simultaneously, so that it can become the valid date.

Today function: This function works when the user wants the date of a particular thing. It can be the current date, backdate or forward date

So, in the given situation, the director wants how many days have elapsed, so for this, we use the today() function.

5 0

2 years ago