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3 years ago

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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Sales Mix and Break-Even Analysis Einhorn Company has fixed costs of $105,000. The unit selling price, variable cost per unit, a

natali 33 [55]

Answer:

The break-even point in units of QQ and ZZ is 1,750 units and 2,625 units respectively

Explanation:

In this question, we use the combined break even point which is shown below:

Combined break even point = Fixed cost ÷ weighatge contribution margin per unit

where,

Weighted contribution margin per unit = $15 × 40% + $30 × 60%

= $6 + $18

= $24

And, the fixed cost is $105,000

Now put these values to the above formula

So, the value would equal to

= $105,000 ÷ $24

= 4,375 units

For products QQ = 4,375 units × 40% = 1,750 units

For product ZZ = 4,375 units × 60% = 2,625 units

7 0

2 years ago

Racine started a new business in the current year. She incurred $52,000 of start-up costs. If her business started on November 2

Lerok [7]

Answer:

$3,544

Explanation:

The maximum immediate expenses amount of $5000 phases out for dollar if more than $50,000 of start-up cost are incurred. Thus, the immediate expensing is $3,000

($5000 - ($52,000 - $50,000))

∴ ($5000 - ($2000) = $3000

The amortization is $544

($49,000/180) × 2 months

= $544

The total amount she may deduct = $3000 + $544 = $3544.

3 0

3 years ago

The ability to connect to the internet through a modem using the same wires that transmit cable television was an example of a _

joja [24]

Answer: Major innovation.

6 0

1 year ago

Other data not yet recorded at December 31 include Insurance expired during the current year, $6. Wages payable, $4. Depreciatio

galina1969 [7]

Answer:

Using the adjusted balances, give the closing entry for the current year.

Explanation:

Db Insurance expense 6000

Cr Prepaid expenses 6000

Db Wages payable 4000

Cr Cash 4000

Db Depreciation expense 9000

Cr Accumulate depreciation 9000

Db Income tax expense 7000

Cr Tax payable 7000

3 0

3 years ago

Read 2 more answers

People who are high on authoritarianism do not do well

____ [38]

Answer:

(D) In organizations where employees expect clear directions.

Explanation:

Authoritarianism is coined from the word "authority". Authoritarianism is a system of ruling whereby the leader (Authoritative person or Dictator) gives all orders and doesn't expect to be questioned or argued with.

In organizations where employees expect clear directions, people who are high on authoritarianism will not do well, since they could switch orders indefinitely and expect no one to argue with them.

An authoritative boss could say that members of a department should submit their files to his desk by 3pm and then change his mind an hour to the deadline and send a new instruction that those employees should gather for a meeting (without their files) by 3pm.

Such confusion will impede the smooth running of day-to-day activities in that organization; especially as no one challenges the leader.

4 0

2 years ago

Read 2 more answers