Answer:
Permanent accounts
Explanation:
The post-closing trial balance consists only of permanent accounts. These permanent accounts are assets, liabilities, and equity. Permanent accounts are not closed when an accounting period ends. Temporary accounts (revenue, expense, dividend) on the other hand is a direct opposite as they are closed or cleared to zero when an accounting period ends.
<span>Revenues–Expenses–Current Debt = Net Profit or Net Loss
</span>
Answer:
c. $480,000
Explanation:
Cost of goods manufactured $
Direct materials used 120,000
Direct labor 200,000
Manufacturing overhead 150,000
Beginning work in process 20,000
Ending work in process <u> 10,000 </u>
Cost of goods manufactured <u> 480,000 </u>
So, Correct option is c. $480,000
Answer:
B. Spending by firms on capital goods is declining.
A <u>finished Goods</u> account would most likely not appear in a job order cost system of a service business.
Finished Goods are products that are at a stage in the manufacturing process that is readily available to consumers. Businesses use formulas to calculate finished goods and products to create inventory percentages that determine the value of the goods sold.
The cost of the finished product includes all costs along the way and includes the three main components used in the production of the goods: direct labor, direct materials, and overhead costs. In addition, storage costs will be incurred when purchasing finished products.
Learn more about <u>finished Goods </u>here brainly.com/question/13767214
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