Answer:
B. Imposed Non Exchange Transactions
Explanation:
A non exchange transaction is a form of transaction whereby a party or a group or an individual receives something of value without directly giving value back in exchange. In non exchange transactions, a party gives value to another without directly receiving approximate value in exchanges. Grants, taxes, special assessments, fines and so on are all parts of non exchange transactions. However, taxes and fines are imposed non exchange transactions because they are assessed and not derived from transactions.
Answer:
The answer is : to Update the balance of Retained Earnings and prepare revenue, expense, and dividend accounts for next period's transactions
Explanation:
The closing entries is to set the accounts' balance of temporary account to zero by transferring these balance to other permanent accounts at the end of the accounting cycles.
Temporary accounts includes accounts of revenues and expenses and dividend payment. Permanent account is Retained Earnings.
As Revenues and expenses are recorded for an accounting period, their balances should be all transferred to Retained Earnings account, together with the dividend payment during the period, to determined the ending balance of Retained Earning account at the end of the accounting period.
Once the closing entries has been recorded, the balance of all revenues and expenses, dividend payments accounts will be set back to zero at the start of next account period for recording revenue and expenses taken place in that period only. While Retained Earning Balance will show how much accumulated Earnings a firm retained since the start of its business.
Answer: B
Explanation: Victor had a certification in science and was not certified in art
Answer:
b)
Explanation:
in the process only use 1000 units .
Answer:
$100338000.
Explanation:
Given: Inventory carrying= $100338000.
As entire inventory is been sold at current price, then revenue of the company will increase by $100338000, therefore contribution margin will also increase further by $10033800 for the Andrew corp.
∴ Contribution margin= $100338000.
Inventory carrying cost are the cost of holding inventory for a period of time until it is sold. it include warehousing cost, cost for keeping inventory safe, etc.
