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m_a_m_a [10]
3 years ago
9

On December 31, the Income Summary account of Madison Company has a debit balance of $111,000 after revenue of $117,000 and expe

nses of $228,000 were closed to the account. Madison Wells, Drawing has a debit balance of $12,000 and Madison Wells, Capital has a credit balance of $174,000. Required: Record the journal entries necessary to complete closing the accounts. What is the new balance of Madison Wells, Capital

Business
1 answer:
loris [4]3 years ago
8 0

Answer:

a) See the image attached for the sheet of closing entry

b) New balance = (174000-111000-12000) = 51000

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The best explanation of how the principle of demand and supply has affected the price of the record player is:

  • Because there are several vending booths in the same area selling the same item, there would be a reduction in price to attract more customers.

<h3>What is Demand?</h3>

This refers to the quantity of goods which are requested by consumers at a particular time period which has an effect in the price of the good.

With this in mind, the principle of demand and supply was in effect as in the flea market, there was a reduction in price of an old record player because there was a lot of the goods in a location.

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brainly.com/question/4804206

8 0
1 year ago
Sweet Acacia Industries reported income taxes of $339,324,400 on its 2017 income statement and income taxes payable of $274,010,
S_A_V [24]

Answer:

$50,153,400

Explanation:

The formula is to increase the income tax expense for the year by any decrease in income tax payable or decrease income tax expense by any increase in income tax payable for the year

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=563,181,600-274,010,600= $289,171,000 - This represents an increase in income tax payable from 2016-2017

Step 2: Decrease the Reported Income Tax by the Increase in Income Tax payable as calculated in Step 1.

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5 0
3 years ago
A step-by-step process that involves several procedures such as defining the problem, collecting relevant information, and analy
Inga [223]

Answer:

I think the answer is market research.

Explanation:

i dont know

4 0
3 years ago
Which one of the following is not an assumption for the law of one price? a. There is free competition b. There is no transporta
icang [17]

Answer:

d. The skill level of workers is identical in both countries.

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8 0
3 years ago
Ang Li has found it rather hard to move up in her managerial career at her workplace especially when compared to how fellow grad
aleksklad [387]

Answer: A glass ceiling

Explanation:  

 A glass ceiling is basically refers to the hidden barrier that monitoring the women advancement and also the minority level based on the leadership position, careers and also the discriminate in the workplace.

According to the given scenario, the given situation suggesting about the presence of a glass ceiling in the Li's organization due to the discrimination in the workplace on the basis of achievement an also the high qualification.  

 Therefore, Glass ceiling is the correct answer.  

5 0
3 years ago
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