In which type of economy is a business owner most likely to benefit from free enterprise?

At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts:

kvv77 [185]

Answer:

Cash Accounts receivable

debit credit debit credit

42,000 25,000

c. 140,000 a. 185,000

d. 120,000 c. 140,000

e. 31,400 70,000

30,600

Service revenue Accounts payable

debit credit debit credit

a. 185,000 8,400

185,000 b. 45,800

0 0 e. 31,400

22,800

Common stock Retained earnings

debit credit debit credit

24,000 34,600

24,000 f. 10,000

19,200

43,800

Operating expenses Salaries expenses

debit credit debit credit

b. 45,800 d. 120,000

45,800 120,000

0 0 0 0

in order to determine the balance of the retained earnings account at the end of the year, we must first close all the temporary accounts:

Dr Service revenue 185,000

Cr Income summary 185,000

Dr Income summary 165,800

Cr Operating expenses 45,800

Cr Salaries expense 120,000

Dr Income summary 19,200

Cr Retained earnings 19,200

6 0

3 years ago

In general, the better candidates for shortening are: Early tasks opposed to later tasks. Later tasks opposed to early tasks. Bu

Vesnalui [34]

Answer:

Early tasks opposed to later tasks.

Explanation:

Shortening is a strategic procedure used by project managers to reduce or shorten a project's duration by cutting the duration of critical path tasks.

The rationale behind shortening of a project is basically to have a competitive advantage or edge in the market. In order to compete successfully, project managers are always expected to be spontaneous in bringing their company's goods and services to the market in a flash.

There are two important ways of shortening a particular project, these are;

1. Crashing.

2. Task splitting.

In project management, the longest task is considered to be the most effective and efficient candidate activities to shorten a project's duration.

In general, the better candidates for shortening are early tasks opposed to later tasks. The early start of tasks represents one of the primary date used in project scheduling and it's the earliest date a project manager commences an activity, with respect to all its predecessors and successors.

Early tasks usually involves the use of an easy approach to project kickoff while later tasks uses the difficult approach.

8 0

3 years ago

Janice creates computer generated graphics and animations. She creates special effects using film, video, computer programs and

AveGali [126]

B) Multimedia artist and animator

Explanation:

As she works in multimedia forms and creates special effects for film, video and computer program Janice will find her skills to be the most useful when she works as a multimedia artist and an animator.

It is a job with great scope and variety of work ranging from computer graphics, graphic designing and designing games and effects from films.

As it is a growing industry Janice will find different avenues as she carves out these niches for herself.

5 0

3 years ago

Read 2 more answers

One identical unit is purchased on each of the following three dates and at the respective costs: June 1 at $10 June 2 at $15 Ju

Tcecarenko [31]

Answer:

Sold first - June 1 at $10

Sold first - June 2 at $15

Ending inventory - July 4 at $20

Explanation:

In the FIFO Method, when the first product is acquired it is sold first or dispose of.

In the given question, one identical unit is purchased on three dates, and the company sold two units

So, the selling units would be

June 1 at $10

June 2 at $15

And, the remaining stock would be considered as an ending inventory i.e July 4 at $20

5 0

3 years ago

Read 2 more answers

Flint Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2018 at a

Salsk061 [2.6K]

Answer:

JOURNAL ENTRY :

Unrealized holding loss on purchase commitment - - - - - $48,700 Dr.

Estimated liability on purchase commitment ($990,700 - $942,000) - - - - 48,700 Cr.

Explanation:

Given the following :

Agreed purchase price of raw materials in 2018 = $990,700

Market value of raw material at 31, December 2018 = $942,000

JOURNAL ENTRY :

Unrealized holding loss on purchase commitment - - - - - $48,700 Dr.

Estimated liability on purchase commitment ($990,700 - $942,000) - - - - 48,700 Cr.

7 0

3 years ago