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ddd [48]
3 years ago
6

There are four closing entries: The first one is to close ___________________. The second one is to close __________________. Th

e third one is to close __________________. The fourth one is to close ___________________.
Business
1 answer:
arlik [135]3 years ago
8 0

Answer:

Revenues, expenses, income summary, dividend or withdraws account

Explanation:

The closing entries for the following accounts are presented below:

1. Service Revenue A/c Dr XXXXX

                To Income Summary XXXXX

(Being revenue account closed)

2. Income summary A/c Dr XXXXX

           To Expense A/c XXXXX

(Being expenses accounts are closed)

3. Income summary A/c Dr XXXXX

               To Retained earning XXXXX

(Being the difference is credited to retained earning that reflected as a profit)

4. Retained earnings A/c Dr XXXXX

      To Dividend A/c XXXXX

(Being dividend account is closed)

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Answer:

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6 0
3 years ago
Which of the following best approximates a pure monopoly? rev: 05_15_2018 Multiple Choice
goldfiish [28.3K]

Answer:

3) The only bank in a small town

Explanation:

By definition a monopoly occurs when there is only one supplier in the market for a specific good or service. In this case, if there is only one bank that works in a small town, then that bank has a monopoly of all the town's residents that require banking services. If any resident doesn't like that specific bank, they need to go to another town in search for banking services.

5 0
3 years ago
An unintended side effect that benefits or harms a third party not involved in the activity is:
Sauron [17]
The answer is : b. An externality

The example of an Externality is air pollution from Car emission

The air pollution is not technically covered and intended by the car manufacturing company , but it harm a third party ( civilians) who do not involved in the car production

 
8 0
3 years ago
Pollution control equipment for a pulverized coal cyclone furnace is estimated to cost $190,000 two years from now and an additi
Troyanec [42]

Answer: $250,096

Explanation:

To find out the amount that should be invested today, one should find the present values of both figures and add them up:

Interest rate should be periodically adjusted so: 8% / 2 = 4% per semi annum

No of periods should be adjusted as well.

Amount to be invested today:

= \frac{190,000}{(1 + 0.04)^{2 * 2 periods} } + \frac{120,000}{(1 + 0.04)^{4 * 2 periods} }\\\\=  \frac{190,000}{(1 + 0.04)^{4} } + \frac{120,000}{(1 + 0.04)^{8} }\\\\= 250,095.62

= $250,096

8 0
2 years ago
Boulder Company reports current E&amp;P of $500,000 this year and accumulated negative E&amp;P at the beginning of the year of $
mrs_skeptik [129]

Answer:

$400,000

Explanation:

Distribution for a particular year will be first drawn for the earning and profits for that year. Distributions will be treated as dividends if the earnings and profits in the current year are positive, regardless of whether the accumulated balance is negative.

Boulder had positive earnings and profits of $500,000.  It has distributions of $400,000, which will be drawn from the earning from the current earnings.  This distribution will be dividends because they can be satisfied with the current earnings.

4 0
3 years ago
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