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shutvik [7]
3 years ago
13

The closing entry process consists of closing?all permanent accounts.only the Retained Earnings account.only the dividends accou

nt.all temporary accounts.all asset and liability accounts.
Business
1 answer:
zhenek [66]3 years ago
4 0

Answer: The closing entry process consists of closing all temporary accounts.

Explanation:  The closing entry process is the process that consists in canceling the income statements (made up of the income, expenses, sales and production costs accounts) and transferring the figures of the respective balance accounts (assets, liabilities and heritage) . This closing allows to know the economic result of the period and quantify the gains or losses.

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What role does a project manager in an e-learning program play? bringing content to life and making it accessible tracking progr
olga55 [171]

Answer:

Tracking progress from kickoff to completion

Explanation:

The role of a project manager in an e-learning program play is tracking progress from kickoff to completion.

The project manager ensures all the highlighted steps are diligently followed from the start to the finish, so as to make the project successful and achieving its aims and objectives.

6 0
3 years ago
Which statement best explains why this passage is an effective use of rhetoric?
erma4kov [3.2K]

Answer:B

Explanation:

6 0
3 years ago
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What is Nick causing? Nick has set up his steel factory near a community lake. The waste from his factory is directly thrown in
gregori [183]
<span>Nick is causing pollution specifically water pollution. Since he is contaminating the community lake. This kind of environmental deprivation happens when pollutants are straight or meanderingly discharged into water forms lacking passable treatment to eliminate harmful composites. This can damage the animals existing by the lake, and the people breathing the air.</span>
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3 years ago
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On January 1, 2021, Laramie Inc. acquired land for $6.2 million. Laramie paid $1.2 in cash and signed a 6% note requiring the co
stepladder [879]

Answer:

The amount Laramie should record the purchase of land is <u>$6.2 million</u>.

Explanation:

The costs of a fixed asset refer to the purchase price and other relevant costs which are incurred in order to the location and working condition required to operate the fixed asset in way that it is intended.

The other relevant costs that are added to the purchase price to arrive at the cost of the fixed assets include professional fees, non-refundable taxes or levies, and among others.

If any trade discount or rebate is given, this will be deducted from the purchase price to arrive at the cost.

Any interest required to be paid on the delayed payment in order to reflects the time value of money are not part of the cost of the asset but expensed in the year they are incurred.

From the question, the land acquired is a fixed asset. Based on the explanation above, the total cost of the asset is $6.2 million. The interest from the 6% interest rate on the remaining $5 million will be part of the cost of the land but it will be expensed in the year they are incurred.

Therefore, the amount Laramie should record the purchase of land is <u>$6.2 million</u>.

6 0
3 years ago
Annapolis Company has two service departments (Computer Operations &amp; Maintenance Services). Annapolis has two production dep
eimsori [14]

Answer:

$56,900

Explanation:

                             Compt.         Maint.       Mixing      Packaging

Dept Cost             140,000      115,000

Cost allocation                            32941        41177         65882

(Computer)

Cost allocation                                

(Maintenance)                                                56900          91041

Total                                                                98077         156923

Workings.

Computer department cost allocation

Maintenance department = 4/17*140000 =32941

Mixing department = 5/17*140000 =41177

Packaging department = 8/17*140000= 65882

Maintenance department cost allocation

Total cost allocated = 147941

Mixing department = 5/13*147941 = 56900

Packaging department  = 8/13*147941 =91041

8 0
3 years ago
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