<u>Answer:</u>
<u>Closing entries
</u>
Date account and explanation Debit Credit
Dec 31 Service revenue 108000
Income summary 1080000
(To close revenue)
Dec 31 Income summary 72000
Supplies expense 6000
Salaries and wages expense 40000
Utilities expense 8000
rent expense 18000
(To close expense)
Dec 31 Income summary 36000
Owner's capital 36000
(To close income summary)
Dec 31 Owner's capital 22000
Owner's Drawing 22000
(To close withdrawal)
Answer:
Do you need help with this? or
Explanation:
True statement for a business plan among following :
(C)Business Plan Provide Road map for future plan true statement for a business plan .
A business plan is a written description of your business's future. That's all there is to it--a document that describes what you plan to do and how you plan to do it.
Explanation:
A business plan can help to direct business for its future and avoid bumps in the road. A Business Plan series provides detailed instructions for working through each section of the business plan.
Although Business plan doesn't guarantee success but provide detailed financial projections, forecasts about your business's performance, and a marketing plan that may help to achieve business goals.
Answer:
The Luther's new share price is closest to $16
Explanation:
For computing the new share in case of the stock split, first we have to find out the value of total share which is shown below:
Value of share = Outstanding number of shares × price per share
= 5,000,000 × $40
= 200,000,000
Now we find out the outstanding shares after the stock split which equal to
= Value of share × stock split ratio
=5,000,000 × 5 ÷ 2
= 12,500,000
Then, compute the new share price which is equal to
= Value of shares ÷ stock split outstanding shares
= 200,000,000 ÷ 12,500,000
= $16
Hence, Luther's new share price is closest to $16
Answer:
$458,822
Explanation:
The formula to compute the future value is shown below:
Future value = Amount (1+i)^n -1 ÷ i)
where,
Interest rate = 8% ÷ 12 months = 0.6666%
And, the number of months = 35 years × 12 months = 420
Now put this value to the above formula
F = $100 × (1 + 0.6666%)^420 - 1 ÷ 0.6666%
After solving this,
the answer would be $458,822
