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zysi [14]
3 years ago
7

Complete the following statement. The purpose of the closing process is to reset temporary (temporary/permanent) account balance

s to zero and to transfer the changes in all of these accounts to the Owner, captial (Capital/Summary/Withdrawal) account.
Business
1 answer:
ch4aika [34]3 years ago
5 0

Answer:

Temporary, Capital

Explanation:

The reason is that temporary accounts include income, expenses and dividends accounts. These accounts are set to zero after an accounting period and all the differences goes to retained earnings which is capital in nature. The accounts which are assets, capital and liability in nature are called permanent accounts because these accounts are not nullified at the end of the period.

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At the beginning of her current tax year, Angela purchased a zero-coupon corporate bond at original issue for $30,000 with a yie
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Answer:

She will report an interest income of $1,827 for this year.

Explanation:

The yield to maturity is 6%. However, the interest on the bond is compounded semi-annually. Therefore, we need to calculate the interest income for either semi-annual period and then sum the two incomes.  

Interest income for first semi-annual period

= $30,000 x 0.06 x 6/12

= $900

Interest income for second semi-annual period

= ($30,000 + $900) x 0.06 x 6/12

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= $ 1,827

4 0
3 years ago
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SKRAM Corporation is appealing directly to the shareholders of IDNIC Corporation to acquire shares of IDNIC stock. This appeal i
soldi70 [24.7K]

Answer:

A hostile takeover with IDNIC corporation as the target company.

Explanation:

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This kind of appeal can be likened to trying to an aggressive push to make the shareholders take over the IDNIC corporation.

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Wang Distributors has an annual demand for an airport metal detector of 1,400 units. The cost of a typical detector to Wang is $
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Thank you for posting your question here. I hope the answer helps. 
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Which of the following statements is not accurate descriptions of the business market? Mrs. Phillip, a retail buyer for Blooming
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Answer:

Mrs. Phillip, a retail buyer for Bloomingdale's, does all the shopping for her family at the same store.

Explanation:

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