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British singer Amy Winehouse was found dead in her apartment in London in 2011. The artist, who had a history of substance abuse, died of alcohol poisoning. According to movie stars who died of alcoholism findings, the singer’s blood alcohol content when she died was five times the legal limit. Unfortunately, many celebrities have developed cirrhosis due to unhealthy habits. Cirrhosis, often linked to chronic alcohol use or hepatitis, doesn’t...Read More

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Understanding Closing Entries in Accounting: Purpose and Process This gives you the balance to compare to the income statement, and allows you to double check that all income statement accounts are closed and have correct amounts. If you put the revenues and expenses directly into retained earnings, you will not see that check figure. No matter which way you choose to close, the same final balance is in retained earnings....Read More

Closing temporary accounts to the income summary account requires an extra step. However, it also gives an audit record of the year’s revenues, expenses, and net income. Automation simplifies the reconciliation process for both temporary and permanent accounts. Automated reconciliation tools compare account balances against external statements or records, ensuring that discrepancies are identified and resolved efficiently. We will https://prod.kinomad.fr/variable-cost-vs-fixed-cost-what-s-the-difference use the 3-steps process to close the revenue and expense...Read More

The payments are at the end of the payment intervals, and both the compounding frequency and the payment frequency are the same (both quarterly). Because this is a simple annuity, an interest rate conversion is not required. Consider a scenario where you invest $1,000 at the end of every year into a savings account that offers a 10% annual interest rate compounded annually, over five years. Here, the future value...Read More