Ask question

Ask question

All categories

3 years ago

6

The journal entry to close income summary when there is a net income is (a) debit sales; credit income summary. (b) debit owner'

s capital; credit income summary. (a) debit owner's capital; credit sales. (d) debit income summary; credit owner's capital.

1 answer:

Alecsey [184]3 years ago

4 0

I think it is A or B.

You might be interested in

Babble, Inc., buys 405 blank cassette tapes per month for use in producing foreign language courseware. The ordering cost is $1

Natasha2012 [34]

Answer:

The appropriate solution is "764".

Explanation:

Given:

Demand per month,

D = 405

or,

= $405\times 12$

= $4860$

Ordering cost,

S = $15

Holding cost,

H = $0.25

As we know,

⇒ $EOQ=\sqrt{\frac{2DS}{H} }$

⇒ $=\sqrt{\frac{2\times 4860\times 15}{0.25} }$

⇒ $=\sqrt{\frac{145800}{0.25} }$

⇒ $=\sqrt{583200}$

⇒ $=763.67$

or,

⇒ $=764$

3 0

2 years ago

Do you think workers of a company need to join in a trade union? Justify your answer

denpristay [2]

Explanation:

Because there is no unity the would not be done properly because there is role for every one

7 0

3 years ago

On December 31, year 3, Byte Co. had capitalized software costs of $600,000 with an economic life of four years. Sales for year

Scrat [10]

Answer:

correct option is b. $450,000

Explanation:

given data

capitalized software costs = $600,000

expected total sales = 10%

sale = 4 year

net realizable value = $480,000

solution

we get here net capitalized cost of computer software that is express as

net capitalized cost of computer software = Year 1 balance - Year 2 amortization .................1

here

Year 2 amortization is

Year 2 amortization = capitalized software costs ÷ total projected sale .......2

Year 2 amortization = $\frac{600000}{4}$

Year 2 amortization = $150,000

so here

Year 2 net capitalized cost is = $600,000 - $150,000

Year 2 net capitalized cost is $450000

so correct option is b. $450,000

6 0

3 years ago

Match the specifications to the type of creditors.

mote1985 [20]

Sarah - cord source funding

Daphne - government loans because SBA is a government agency.

Pat - venture capital

Albert - asset backed lending because he is using collateral (assets) to secure his loan.

5 0

3 years ago

Discuss the optimal method for procuring inputs that have well-defined and measurable quality specifications and require highly

son4ous [18]

Answer:

The optimal method for procuring inputs that have well-defined and measurable quality specifications and require highly specialized investments is the contract.

Explanation:

The contract is signed between the seller and the buyer, and establishes formal and legal terms, and agreed responsabilities. The primary advantages are that firms and buyers are allowed to focus in producing and getting what they need as contracts are used for tangible goods and for rendered services, reducing the opportunistic behaviour and underinvestment.

The CONASUPO, mexican government office, signed a contract with the mexican ranch owners to get all their milk production at low prices to feed the thousands of low income families.

3 0

3 years ago

Read 2 more answers