Answer:
Year end journal entries are given below in explanation
Explanation:
a. Company provided service to customer which means that company has earned revenue
Account Dr Cr
Accounts Receivable 2200
Sales/Revenue 2200
b. Wages expense have incurred but are not paid yet. Thus, its Liability should be booked.
Wages Expense 1200
Wages payable / Liability 1200
c. The company has taken loan from the bank. Interest due on the loan is 416 but are not paid yet.
Interest Expense 416
interest Payable 416
d. The company had contract for lawn service. To book the expense of lawn service
Lawn Service Expense 520
Lawn Service Payable 520
e. The company has also made some investment. $ 220 is earned on that investment. to book the non operating income
Interest revenue receivable 220
Interest revenue - Non operating income 220
f. Salaries of Supervisor is due on 31 st December but are not paid yet.
Salaries Expense 920
Salaries payable 920
Answer:
The answer is a:
distributed according to the members' proportionate shares of ownership in the firm.
Explanation:
A limited liability company (LLC) is a corporate structure, whereby the owners are not personally liable for the company's debts or liabilities. Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship.
LLCs are governed by the rules of the state in which they were formed. State rules provide for the allocation of LLC profit according to each member's percentage of ownership interest.
In this scenario, the written operating agreement does not exist. If a profit allocation arrangement is not outlined in the operating agreement, or the operating agreement is not formed, then the state's default profit allocation rules will apply, requiring profits to be distributed according to their percentage of ownership.
When preparing the statement of cash flows using the indirect method, depreciation expense is added to net income because net income is a starting point in measuring cash flows from operating activities
<h3>What is a Balance Sheet?</h3>
This refers to the inventory taken for all goods available in a warehouse, showing its financial records.
Hence, we can see that when a person is preparing the statement of cash flows with the indirect method, there is the addition of depreciation expense simply because the net income must be factored in.
Read more about statement of cash flows here:
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Answer:
The correct option is B
Explanation:
Meta- analysis is the tool for the analysis of statistical which combine or merge the consequences of the multiple scientific studies. This analysis is conducted when there are multiple scientific studies, with each and every individual study that reports, the evaluations which are expected to have the degree of the error.
Therefore, Casey who is pooling the results statistically of the several studies into a single analysis. So, Casey assigned to conduct or perform a meta - analysis.
