Answer:373
Explanation:
i think it is beause you do youe calater
Answer:
This answers may help you
Answer:
Expense & revenue summary a/c (credit balance) = $3500
Explanation:
1. Dr Expense & revenue summary 52500
Cr Sales discount 1500
Cr Sales return & allowance 3000
Cr Depreciation expense 25000
Cr Salaries expense 23000
(Close expenses to expense & revenue summary a/c)
2. Dr Sales 56000
Cr Expense & revenue summary 56000
(Close sales to expense & revenue summary a/c)
3. Dr Expense & revenue summary a/c 3500
Cr Retained earning a/c 3500
(To close expense & revenue summary a/c)
4. Dr Retained earning 2000
Cr Expense & revenue summary 2000
(Close dividend to expense & revenue summary a/c)d
Answer:
False
Explanation:
A person who brings his unique idea to run a startup company is known as an entrepreneur. A businessman is a person who starts a business on an old concept or idea. The businessman is a market player while Entrepreneur is a market leader because he is the first to start such a kind of enterprise.
Answer:
a. each revenue account will be credited.
Explanation:
In accrual accounting revenues and expenses are realised and recorded when the revenues are earned or when expenses are incurred.
Temporary accounts are used to store balances from the revenue or expense activities of a business.
Eventually these accounts are closed out to permanent revenue and expense accounts. Revenues are credited to reflect income earned, and expenses are debited to reflect costs incurred.