Answer:
sales revenue 540,000
other revenue 49,000
income summary 589,000
to close revenue accounts
income summary 520,000
COGS 290,000
other expenses 230,000
to close expense accounts
income summary 14,000
dividends 14,000
to close dividends expense
income summary 55,000
Retained Earnings 55,000
Explanation:
We use incomme summary to close the temporary accounts.
The revenues has credit normal balance, so we debit them to close them.
The expenses has debit normal balance so we credit to close them.
We do this using the income summary account to balance the entries.
We also close dividends account against Income Summary
Finally we move the balance of income summary to retained earnings
I think the statement that best describes the main cause of the 2008 housing market crash is : many people could not make home payments during a weak economy
That period was a period of recession and it cause the price of the house keep dropping
hope this helps
Answer: 95000 shares
Explanation:
The total shares that are outstanding will be calculated as the difference between the total shares issued and the treasury Share purchased.
The number of shares issued will be calculated as:
= 50000/0.50
= 100000 Shares
Therefore, the total shares that are outstanding will be:
= 100000 shares - 5000 shares
= 95000 shares
Answer:
$48.2
Explanation:
The increase in dividend is 3.9%
= 3.9/100
= 0.039
The recently paid dividend is $3.62
The required return is 11.7%
= 11.7/100
= 0.117
Therefore the price per share of the company stock can be calculated as follows
= 3.62(1+0.039)/0.117-0.039
= 3.62(1.039)/0.078
= 3.761/0.078
= 48.2
Hence the price per share is $48.2
Answer:
well russia specializes in communism
so does china
Explanation: