Answer:
The answer is: B)The adjustment for prepaid insurance was omitted.
Explanation:
The adjusted trial balance is the last step before producing the financial statements of a company. Its format is identical to unadjusted balances, it has three columns: account names, debits and credits. The debit and credit columns are calculated at the bottom and should always be equal. If they aren’t equal, the trial balance was prepared incorrectly.
The only error that would cause the adjusted trial balance to be unequal (debts ≠ credits) is; The adjustment for prepaid insurance was omitted. Prepaid insurance should be debited and cash (or accounts payable) should be credited.
Answer:
Before-tax income $ 11,252,000
Less: Deduction for state income tax(529000+451000) $ 980,000
Taxable Income $ 10,272,500
Tax rate 21%
Federal income tax $ 2,157,225.00
Mesa’s combined tax rate
= ([$980,000 state tax + $2,157,225 federal tax] ÷ $11252000) 27.88%
Explanation:
Answer:
C
Explanation:
Im pretty sure its C. Everyone has to sign a lease when renting something
Budgeting depends on cash inflow and outflow, and how much you have left affects investment decisions, retirement decisions, and financing decisions. ... All financial goals must be reasonable and achievable.