Answer: The balance in the Income Summary account prior to closing net income or loss to the Martinville, Capital account is $5,000(credit).
Explanation:
Given that,
Company earned revenues = $ 10,000
Incurred expenses = $ 5,000
Withdraw amount for personal use = $ 3,000
Balance in the Income Summary account:
= Earned revenue - Incurred expenses
= $ 10,000 - $ 5,000
= $5,000(credit)
∴ The balance in the Income Summary account prior to closing net income or loss to the Martinville, Capital account is $5,000(credit).
Answer:
the depreciation expense is $592
Explanation:
The computation of the depreciation expense is shown below:
= (cost - residual value) ÷ useful operating life × operated in april month
= ($259,000 - $7,400) ÷ 85,000 hours × 200 hours
= $592
Hence, the depreciation expense is $592
The same should be considered and relevant too
Answer:
Business model
Explanation:
A business plan can be defined as a formally written document that comprises of the financial and operational objectives (plans) of a business firm.
Basically, a business plan is a roadmap or guide that outline the goals of a business, methods on how to achieve those goals, and the timeframe required to achieve those goals.
Similarly, a business model can be defined as a plan developed and implemented by a company while expressly promising value to its customers and converting the payments made by customers for goods or services into a profit.
Answer:
an architect is focused on designing and construction the form space, and ambiance of buildings and other physical environments, whereas, engineers ensure that the design will work by applying scientific principles.
Answer:
Distributors
Explanation:
Many organizations often use distributors as a link between the customer and company.