When anheuser-busch ran an advertising campaign featuring the slogan, "know when to say when," it was using

After posting the entries to close all revenue and expense accounts, the Income Summary account of Cleaver Auto Services has a $

KATRIN_1 [288]

Answer:

INCORRECT.

In income summary account, all revenue accounts are closed by debiting them and crediting the income summary account. expense accounts are closed by crediting them and debiting income summary account. then on closing income summary account it shows debit balance if there is a net loss and it shows credit balance if there is a net income.

In the given case clever auto services has debit balance of $5,300 i,e it implies that clever auto services has loss .

Therefore above statement is wrong. It implies a loss of $5300 not the net income of $5,300.

3 0

4 years ago

The following is a condensed version of the comparative balance sheets for Sweet Corporation for the last two years at December

notsponge [240]

Answer:

Cash flow from operating activities

Net income $352,000

Adjustment to reconcile net income to

net Cash flow from operating activities

Depreciation expense $26,350

Loss on investment sold $15,500

Decrease account receivable $7,750

Decrease current liabilities -$26,350

Net cash flow from operating activities $348,250

Cash flow from investing activities

Sale of investment $12,100

Purchase of equipment -$89,900

Net cash used investing activities -$77,800

Cash flow from financing activities

Dividend paid -$66,000

Net cash used financing activities -$66,000

Net cash increase (decrease) $204,450

Beginning Cash $120,900

Ending Cash $325,350

6 0

3 years ago

Having internet, catalog, and store offerings makes staples a(n) multiple choice full-line discount store. omnichannel retailer.

Eduardwww [97]

The correct answer is supercenter. Staples Inc. is an American retail company and is a supercenter.

With its corporate headquarters in Framingham, Massachusetts, Staples Inc. is an American retailer that provides goods and services that assist both learning and working. Over 1,000 Staples locations will offer same-day passport photo services in 2022, and a few will also offer TSA PreCheck enrollment.

Leo Kahn, Thomas G. Stemberg, and Myra Hart created Staples. In 1985, as Stemberg was preparing a proposal for a different company, he had the concept for Staples. He needed a ribbon for his printer but couldn't get one because his neighborhood store was closed for the Fourth of July. Because of his experience in the food industry and his aggravation with the need to rely on small shops for essential supplies, Stemberg had the idea for an office supply superstore.

Learn more about Staples here:

brainly.com/question/13988374

#SPJ4

8 0

2 years ago

Which economic system meets the most socialeconomic goals?

Gre4nikov [31]

Answer:

Market

Explanation:

6 0

3 years ago

Frankie's Chocolate Co. reports the following information from its sales budget: Expected Sales: July $ 90,000 August 110,000 Se

Cerrena [4.2K]

Answer:

$112,500

Explanation:

July August September October

Credit Sales(90000*75%) 67,500

(110,000*75%) 82,500

(120,000*75%) 90,000

Cash Sales (120,000*25% 30,000

Total Cash expected to be collected in September will be;

Credit Sales of August $82,500

Cash Sales of September $30,000

Total cash expected to be collected in September =$112,500

4 0

3 years ago

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