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olga_2 [115]
3 years ago
6

Revenues and expenses are transferred to the​ ________ account before their final transfer into the retained earnings account.

Business
1 answer:
slamgirl [31]3 years ago
6 0
<span>D is the correct answer. Income summary is a sort of "catch-all" account that holds both revenues and expenses before recording them as retained earnings. These will then be rectified at the end of the manual accounting period. If there is a net profit or loss for the business, it will be reflected during the accounting period in the income summary.</span>
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A net worth statement, insurance plan, and a budget are all part of a?
krek1111 [17]

Saving plan that what it is a a part of

5 0
3 years ago
The equation 4 + 4 = 8 would be considered a scientific _____. theory
Naddik [55]
It is a scientific hypothesis as far as I know.

It is a hypothesis that can be proved and that in this case is correct.


Hope it helped,

Happy homework/ study/ exam!
4 0
3 years ago
In a general ledger, credits always go on the
Alenkasestr [34]

Answer:

The correct answer would be, Credit always goes on the right side.

Explanation:

General Ledger is the set of accounts that businesses keep and maintain to have a record of their financial transactions. These ledger accounts help the accountants to make the financial statements and reports of the organization. Each account contains full detail about the specific account title. For example there would be a general ledger of Cash and this ledger will record all cash related transaction, and in the end will tell you the balance of cash account.

The format to write the ledge is to make a T account, and write Debit on the left side and credit on the right side, and record the transactions.

6 0
3 years ago
Read 2 more answers
Start with the beginning balances for these​ T-accounts: Accounts​ Receivable, $100,000​, Allowance for Uncollectible​ Accounts,
iren [92.7K]

Answer:

T-accounts:

The ending balances of Accounts Receivable and Allowance for Uncollectible​ Accounts are:

Accounts Receivable = $75,000

and

Allowance for Uncollectible Accounts = $17,000

Explanation:

Accounts Receivable

Accounts Title           Debit       Credit

Balance                  $100,000

Service Revenue    697,000

Cash                                         $714,000

Uncollectible written off             $8,000

Balance                                     $75,000

Allowance for Uncollectible Accounts

Accounts Title                   Debit       Credit

Balance                                            $14,000

Uncollectible written off $8,000

Uncollectible Expense                      11,000

Balance                            17,000

7 0
3 years ago
A project with an initial investment of $438,500 will generate equal annual cash flows over its 9-year life. The project has a r
motikmotik

Answer:

$70 194.95

Explanation:

The computation of the minimal annual cash flow needed for accepting the project is shown below:

As we know that

Present value of annuity = Annuity × [1 - (1 + interest rate)^ - time period] ÷ rate

$438,500 = Annuity × [1 - (1.08)^ - 9] ÷ 0.08

$438,500 = Annuity × 6.246887911

So,

Annuity = $438,500 ÷ 6.246887911

= $70 194.95

7 0
3 years ago
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