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mihalych1998 [28]
3 years ago
14

Closing entries may be prepared from all of the following except

Business
1 answer:
AlexFokin [52]3 years ago
6 0

Answer:

The correct answer is B) Balance sheet.

Explanation:

The balance sheet is a statement of a company's financial position at a specific time, such as at the end of the month, quarter or year. The balance sheet shows the assets and lists the responsibilities, creating a statement of what the business owns and owes.

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Calculate gross profit for the following situation: National Storage Company had sales of $1,000,000, sales discounts of $2,500,
Pie

Answer:

$475,500

Explanation:

Sales is $1,000The discountscount is $2500

Sales return and allowances are $15,000

The cost of goods sold is $525,000

Therefore the gross profit can be calculated as follows

= 1,000,000-2,500-15,000-525,000

= 457,500

Hence the gross profit is $475,500

3 0
3 years ago
Can someone help me please? I attached the question THANKS
galben [10]

Answer:

Press a standard key on the keyboard.

Move the mouse.

Explanation:

7 0
3 years ago
Read 2 more answers
ESD wants to determine the best order size for 2x4x6 pressure treated pine lumber required for making custom cabinets. ESD's est
Vedmedyk [2.9K]

Answer:

the economic order quantity is 845 units

Explanation:

The computation of the economic order quantity is shown below;

As we know that

Economic order quantity is

= √2 × √annual demand × √ordering cost ÷ √carrying cost

= (√2 × √6750 × √$225) ÷ (√4.25)

= √3,037,500 ÷ √4.25

= √7,14,705.88

= 845 units

Hence, the economic order quantity is 845 units

6 0
3 years ago
Net credit sales for Winner Company are $100,000 for the year. The Accounts Receivable account had a balance of $15,000 at the b
Valentin [98]

Answer:

Receivables turnover ratio = 5

Explanation:

Receivables turnover ratio = Net Credit Sales / Average accounts receivable

Receivables turnover ratio = $100,000/$20,000

Receivables turnover ratio = 5

Average accounts receivable = (Beginning Account Receivable + Ending Account Receivable) /2

Average accounts receivable = ($15,000+$25,00)/2

Average accounts receivable = $40,000/2

Average accounts receivable = $20,000

6 0
3 years ago
Which of the following statements explain(s) how the accounting equation applies to business?( check all the apply)
JulijaS [17]

The statements that explain how the accounting equation applies to business are:

  • The equation reflects that the total of what a business owns at any point in time will equal the total of what it owes creditors and owners.
  • The equation applies to all monetary business transactions.
  • The relation of assets, liabilities and equity is reflected in the equation.
  • The equation states that Assets = Liabilities +Equity

<h3>How does the accounting equation apply in business?</h3>

The accounting equation is given as:

Assets = Equity + Liability

This shows that everything that a business owns (assets) is only acquired thanks to the amounts that the owners ( equity) and creditors (liability) give.

It also shows how assets, liabilities and equity are related and therefore applies to all the monetary transactions in the business as it shows how the cash is affected when it is spent or received.

Find out more on the accounting equation at brainly.com/question/24401217

#SPJ1

5 0
1 year ago
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