I did some research and found out it is the law of increasing costs
:)
Answer: $5550
Explanation:
The amount that the company will record the dishwasher will be the amount the dishwasher was bought plus the transportation cost incurred on the dishwasher plus the installation fees. This will be:
= $4900 + $390 + $260
= $5550
Therefore, the amount that the company will record for the dishwasher is $5550
Answer: D) cyclical
Explanation:
Cyclical Demand is difficult to predict because it goes according to the business cycle and hence is affected on a Macro Economic scale by events at a National or International level.
This means that something could be in demand today but the demand could fall or rise sharply based on the stage of the business cycle the economy is in.
It reduced the cash flow to product innovation. It led to increased operating costs.
Answer:
<u>Closing Entries Dated 31, 2016</u>
Dr. Cr.
Closing Income Accounts
Service revenue $186,100
Interest revenue $90,300
Income Summary $276,400
Closing Expense Accounts
Income Summary $153,400
Supplies Expense $96,900
Advertising expenses $18,200
Salaries and wages $21,000
Income tax expense $17,300
Closing Income Summary Account
Income Summary $123,000
Retained Earning $123,000
Closing Dividend Account
Retained Earning $7,800
Dividend $7,800
Explanation:
All the Income and Expenses accounts are closed to Income summary account. The net balance of income summary account is transferred to retained earning account. The dividend balance is also transferred to retained earning account to close it. Ultimately all the balances are netted off in retained earning account.