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maxonik [38]
3 years ago
13

The ledger of Mai Company includes the following accounts with normal balances: Common Stock, $9,000; Dividends, $800; Services

Revenue, $13,000; Wages Expense, $8,400; and Rent Expense, $1,600.
Prepare the necessary closing entries from the available information at December 31.
Business
1 answer:
Firdavs [7]3 years ago
5 0

Answer:

Explanation:

The closing entries is purposely to transfer account balances to permanents books of account , with all income statements banalces transferred to retained earnings.

Common stock - $9000

Dividends - $800

Service revenue - $13,000

Wages Expenses - $ $8,400

Rent Expenses -    $1,600

Closing Entries

Particulars                            Dr                        Cr

Income Summary           $10,000

Wages Expenses                                        $8,400

Rent Expenses                                            $1,600

Service Revenue              $13,000

Income Summary                                            $13,000

Income Summary             $3,000

(13000-10000)

Retained Earnings                                            $3,000

Retained Earnings             $800

Dividends                                                            $800

           

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Answer:

A. ​center-of-gravity method

Explanation:

The mathematical technique that is being described in the question is called the center-of-gravity method. Like mentioned in the question this is an business technique that is used by businesses in order to find the best possible geographic coordinates for a single distribution point. This location is calculated by considering the Market's surrounding it, Volume of goods shipped, and Shipping Costs.

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Answer: assuming Given the pay rate $7.0 and hours worked is 30 hours

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3 0
3 years ago
Your first job is to settle the dispute between the owners. To settle the dispute, you need to ensure that both owners understan
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I believe the answer is data
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3 years ago
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Inthe 1920's, the value of the German mark fell dramatically. in June 1922, a U.S. dollar could buy 320 marks; by December of th
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Answer:

The answer is C: Hyperinflation

Explanation:

Hyperinflation is high and accelerating form of inflation. It results in quick decline of the local currency`s real value. It also leads to increased prices of all goods and consumables

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3 years ago
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