Answer and Explanation:
The journal entry required to close the income summary account is given below:
Income summary Dr ($202,000 - $112,200) $89,800
To retained earnings $89,800
(Being the closing of the income summary is recorded)
The above entry should be passed for closing out the income summary account
The same is to be considered
She is highly nimble (or flexible, adaptable, or other synonyms thereof, depending on whether there are exact choices). Having various small problems each day requires one to be able to solve them quickly (before they pile up), and to be able to move from one problem to the next without spending too much time thinking of one problem.
Explanation:
Because trademarks have an unlimited effective life of 4 million dollars, the regulation is not valid.
Goodwill and immaterial properties are not amortized but are checked for damage annually for infinite useful lives.
The copyright worth $6 million for five years is the only inviolable thing you can amortize.
The gross amortization cost in relation to these things in the income statement of Burger Mania for the first year ending December 31 would amount to $800,000.
Answer:
Achived that the breakeven
The relevant cost of building an office building is $9 million.
- The calculation of the relevant cost of building an office building is as follows:
= Sale value of partially completed building and land + additional labor & material required
= $4 million + $5 million
= $9 million
Therefore we can conclude that the relevant cost of building an office building is $9 million.
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