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Nataliya [291]
3 years ago
15

1. The closing entry for the Loss on Plant Assets account includes a debit to (A) Retained Earnings. (B) Income Summary. (C) Los

s on Plant Assets. (D) Gain on Plant Assets.
Business
1 answer:
kotykmax [81]3 years ago
7 0

Answer:

The correct answer is (B) Income Summary

Explanation:

The income summary is a procedure that allows us to glimpse, globally, all the entries that existed in a period. It provides very valuable generalized information, which lets you know how business, work or some investment is going.

To ensure that our results are accurate, we must close all income and expense accounts, and take stock to obtain our conclusions. If the results have not been favorable, we must make the necessary adjustments so that in the next income summary we can obtain better results.

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Which stage of economic development is a time of change from the traditional way of doings things in a society to moving toward
DIA [1.3K]

Answer:

takeoff

Explanation:

Is the third stageof economic development in which rapid economic growth occurs, theeconomy diversifies from few industries to several industries.

5 0
3 years ago
Read 2 more answers
You plan to borrow $40,000 at a 6% annual interest rate. The terms require you to amortize the loan with 7 equal end-of-year pay
STALIN [3.7K]

Answer:

Interest for second year $2,114.08

Explanation:

given data

loan Amount = $40,000.00  

Interest rate r = 6.00%  

time period t = 7  

solution

we get here first Equal Monthly Payment EMI that is express as

EMI = \frac{P \times r \times (1+r)^t}{(1+r)^t-1}      ................1

here P is Loan Amount and r is rate and t is time period  

put here value and we get  

EMI = \frac{40000 \times 0.06 \times (1+0.06)^7}{(1+0.06)^7-1}    

EMI = $7165.40  

now

we get here interest for second year that is

Closing balance at year 1 = opening balance + Interest - EMI Payment

Closing balance at year 1 =  $40,000  + $2400 - $7165.40  

Closing balance at year 1 =   $35234.60

so Interest for second year $2,114.08

8 0
3 years ago
Which of the following examples demonstrates the law of demand?A) Mary buys fewer Milky Ways at $0.80 per Milky Way after the pr
777dan777 [17]

Answer:

The correct answer is letter "C": Kelvin buys more donuts at $0.80 per donut than at $0.95 per donut, other things equal.

Explanation:

The demand law states that if the price of a good or service decreases, the quantity demanded for that good or service will increase. On the other hand, if the price of a god or service increases, the quantity demanded will decrease. The price-quantity demanded of the demand law is inversely proportional, <em>ceteris paribus</em>.

Thus, Kelvin's case is an example of the demand law since he purchases more donuts when the price is lower ($0.80) and purchases fewer donuts when the price is higher ($0.95).

4 0
3 years ago
_______ are special-purpose printers that use output from graphics tablets or other graphical input devices that are typically f
strojnjashka [21]

Answer:

The correct word for the blank space is: Plotters.

Explanation:

Plotters are high precision printing and cutting devices. They are used to print plans and projects. They are considered external devices that allow drawing o scheme diagrams and graphs. There are monochromatic plotters and other versions of four, eight, and twelve colors.

5 0
3 years ago
Janet works on a team of 15 people working in research and development for a toymaker. They have weekly meetings to discuss new
RideAnS [48]

Answer:

D. production blocking.

Explanation:

Janet is suffering from production blocking. This is an issue encountered in brainstorming sessions related to the fact that only one member must speak at a time which can prevent other members from sharing their ideas as they occur and make it difficult for them to concentrate in their own idea since they need to be paying close attention to whatever is being said.

7 0
3 years ago
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