Adjustments are necessary to bring an asset or liability account to its proper amount and also update a related expense or revenue account.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Manson World reported the following: Common stock, $1 par, 200,000 shares authorized, 100,000 shares issued and outstanding What is the effect of a 2-for-1 stock split if the market value of the common stock is $20 per share when the stock split is declared?
a. Retained earnings in the amount of $400,000 is transferred to the contributed capital accounts. b. Cash decreases $400,000. c. Additional Paid-in Capital increases $400,000. d. A stock split has no effect on total stockholders' equity.
Franklin Corp. sold money orders to drugstores. The money orders contained the words, "Payable to," followed by a blank. Can the money order qualify as a negotiable instrument?
What will be an ideal response?
Overall, ______ conflict is considered the most destructive and harmful to organizations because it can give rise to hostility, mistrust, fear, and negativity.
A. process B. structural C. relationship D. task
Financial analysis is normally done only from period to period, on such values as sales from the first quarter to those of the second quarter rather than the change in cash or accounts receivable from the end of the first quarter to the end of the second quarter
Indicate whether the statement is true or false