Trial Balance Journal Closing Entries Source Documents Adjusted Trial Balance Ledger Financial Statements statement prepared using the corrected account balances (such as balance sheet and income statement) chronological (date-ordered) records of transactions, which are the first basic entry of debit and credit for each transaction must be made to close out the revenue and expense accounts and bring them to zero so that the cycle can begin again a sheet that displays all of the accounts and tests whether or not the entire debit balances equal the total of all the credit balances documents that serve as proof of a transaction involve bringing an asset or liability account to its proper amount and updating the corresponding revenue or expense account a collective term for the accounts of a business. They are also often referred to as T-accounts i need this pls

Afactory owner wants his workers to produce as many widgets as they can so he pays his workers based on how many widgets they produce. however, in order to make sure that the workers do not rush and produce a large number of poorly made widgets, he checks the widgets at random at various stages of their manufacture. if a defect is found in a widget, the pay of the entire section of the factory responsible for that defect is docked. how is this factory owner seeking to solve the agency conflict problem in this case?

Identify the accounting assumption or principle that is described below. (a) select the accounting assumption or principle is the rationale for why plant assets are not reported at liquidation value. (note: do not use the historical cost principle.) (b) select the accounting assumption or principle indicates that personal and business record-keeping should be separately maintained. (c) select the accounting assumption or principle assumes that the dollar is the "measuring stick" used to report on financial performance. (d) select the accounting assumption or principle separates financial information into time periods for reporting purposes. (e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available. (f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.

Costs of production that do not change when output changes.question 17 options: total revenuefixed incometotal costfixed cost