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3 years ago

The owner's drawing account has a balance of $275. The correct entry to close the drawing account would be to debit:

Business

1 answer:

Dmitry [639]3 years ago

4 0

Answer:

Dr Owner capital account $275

Cr Drawings Account $275

Explanation:

The initial entry was:

Dr Drawings $275

Cr Inventory $275

And the closing entry is to close the drawing account which is done by crediting the whole balance left in the drawing account and charging it to owner capital account. By doing so the drawing shows lowers the profit as the owner has not paid any cash and the drawing account closes at zero balance at the end of the year.

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By comparing opportunity costs and gains from trade for two parties each making the same two goods, one can determine the exact

dolphi86 [110]

Answer:false

Explanation:The opportunity cost test only determines a range of options, any of which would benefit both parties

7 0

3 years ago

Which of the following is a capital resource? a. A computer programmer. b. A corporate bond issued by a computer manufacturer. c

Furkat [3]

Answer:

The answer is B. corporate bond issued by a computer manufacturer

Explanation:

Capital in business is the money committed to the business by its owner or owners. Capital can also be from a borrowed fund e.g loan

Bond is a long term loan issued to finance a capital project.

Therefore, the corporate bond issued by a computer manufacturer is a capital.

Option A which is a computer programmer is a human asset.

Option C is an inventory (Current assets). This is used to make computer chips.

Option D is an asset

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3 years ago

A job candidate is being taken out to dinner by a an interviewer. The interviewer gets to pick therestaurant they will dine (eit

Fofino [41]

Answer and Explanation:

a. They will visit the local restaurant and the job candidate will choose to have salad as an order. Please check the attachment I added for the other parts of the answer.

b. The interviewer would make a choice and choose local restaurant. Based on this choice, the job candidate will choose salad. If the interviewer should choose chain restaurant, the job candidate will choose steak

C. Strategy

The interviewer:

S = {chain,local}

Job candidate:

S = {(steak, salad} multiplied by {steak, salad}

= {(Steak steak), (steak salad), (salad, steak), (salad,salad)}

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2 years ago

44) Christopher, a department manager, is attending the monthly budget planning meeting where all the department managers report

andreev551 [17]

When Christopher ask questions and nods his head after their responses. He is exhibiting the active style of listening.

<h3>What is active listening?</h3>

Active listening is a type of listening where the listener give rapt attention to the person <em>speaking</em> including the guestures.

The individual also ask questions to confirm all that his learning.

Therefore, When Christopher ask questions and nods his head after their responses. He is exhibiting the active style of listening

Learn more on active listening here,

brainly.com/question/3185541

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2 years ago

Consider an exchange-traded call option contract to buy 500 shares with a strike price of $40 and maturity in four months. Expla

kvasek [131]

Answer:

The explanation of the terms of the option contract change is below

Explanation:

a. Every call option contract will cover more shares

= 500 × 1.1

= 550

for computing the 1.1 (1 + 10%)

The strike price will be reduced for each share to

= 40 ÷ 1.1

= $36.364

b. Cash dividend would not adjust the terms of the contract but the contract value would decrease if it is an option to call and increase if it is an option to place

c. Each contract call option will cover more shares

= 500 × 4

= 2,000

The strike price will be reduced for each share to 40 ÷ 4

= $10

3 0

3 years ago