First i would wait that my letter be approved and the i would choose my work team
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)
Answer:
The correct answer is Option A.
Explanation:
The effective interest rate (EIR) method is used when a bond is purchased at a discount or premium.
In the case of the question, the bond was purchased at $9,631 with a face value of $10,000. Interest expense is calculated as the bond price multiplied by the market rate, i.e. $9,631 x 11% = $1,059.41.
Therefore, ABC Company would record $1,059 on the first annual interest payment date using the effective-interest method.
Answer:
ur mom. stop asking for help on other ppls questions
Explanation:
Look on jiskha you will find your answer I promise
