Answer:
A. Debit Income Summary $41,300; credit Expense accounts $41,300
Explanation:
At the end of the period, the revenue and expenses for the company are closed into the income summary account which in turn is closed into the retained earnings account.
For revenue, the entries are debit revenue and credit income summary with the revenue for the year. For expenses, credit expenses and debit income summary with the total expense for the year.
As such, given that Total revenues for the period are $58,200, total expenses are $41,300, and dividends are $10,200, the correct closing entry for the expense accounts is
Debit Income Summary $41,300
Credit Expense accounts $41,300
Answer:
True. (unless your in advanced classes)
if your in advanced classes you would be classified as smarter than a certain grade level.
sorry if this doesn't help.
Cinnamon Scrub is a fine name
Answer:
they are able to set their own hours and policies.
Establish prices.
Mall Critical decisions on how to operate the company.
Some people don't want to work for a boss. Others have an innovative mind or brilliant idea
People also engage in business to make a difference in the world.
Answer:
mainly because of the countries negative trade balance, but also because it is strictly regulated by the central bank which is the National bank of Ethiopia.
