1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Norma-Jean [14]
3 years ago
15

Which of the following accounts are closed at the end of the year?A. accounts receivableB. retained earningsC. salaries expenseD

. service revenue
Business
1 answer:
yarga [219]3 years ago
6 0

Answer:

C. salaries expense

D. service revenue

Explanation:

All temporary accounts need to be closed off at the end of the year. Temporary accounts are accounts that both begin and end the period with a $0 balance so that they do not get mixed up with figures from the next period.

Items in the income statement such as revenue and expenses are closed at year end and will form part of the Retained earnings account as they would have been accounted for in the net income.

Salaries expense and service revenue will therefore be closed at the end of the year.

You might be interested in
What are the five elements in the management​ process? A. ​organize, plan,​ control, staff, and manage B. ​accounting, finance,​
jolli1 [7]
A degree may open the door to a variety of opportunities and diverse career paths. The degree programs offered at AIU will not necessarily lead to the featured careers. This collection of articles is intended to help inform and guide you through the process of determining which level of degree and types of certifications align with your desired career path.

While most positions and departments within a business are tasked with specific duties based on particular knowledge, expertise, or company needs, managers can have a broader and more complex set of responsibilities. More than just specialized knowledge, management requires an ability to navigate numerous procedural, structural, and interpersonal challenges in the process of guiding one's team to the completion of various goals.

8 0
3 years ago
accounts receivable had a debit balance of $10,000 at the beginning of the period, and a debit balance of $6,000 at the end of t
Mila [183]

If accounts receivable had a debit balance of $10,000 at the beginning of the period, and a debit balance of $6,000 at the end of the period. based on this information, the adjustment to net income for the period will be reported as: a decrease of $4,000 which will be added to net income.

<h3>How to find the adjustment to net income?</h3>

Using this formula to determine the adjustment to net income

Adjustment to net income = accounts receivable had a debit balance - Beginning debit balance

Where:

Accounts receivable had a debit balance = $10,000

Beginning debt balance = $6,000

Let plug in the formula

Adjustment to net income = $10,000 - $6,000

Adjustment to net income = $4,000


Therefore we can conclude that the adjustment to net income for the period will be reported as a decrease of $4,000 which will be added to net income.

Learn more about adjustment to net income here:brainly.com/question/6748270

#SPJ1

7 0
11 months ago
Dole Corp.'s accounts payable at December 31, 2020, totaled $900,000 before any necessary year-end adjustments relating to the f
IRINA_888 [86]

Answer: $1,400,000

Explanation:

The checks to creditors were only mailed out in January so the creditor accounts had not been settled in December.

The goods purchased on December 28 should be included in the accounts payable account.

The goods that were shipped FOB Destination and were not yet delivered at year end will not be accounted for because FOB destination means that Dole will only take ownership when it reaches them.

Accounts payable is therefore:

= 900,000 + 350,000 + 150,000

= $1,400,000

7 0
2 years ago
Clinton and Trump on fiscal policy In the 2016 Presidential election​ campaign, both Hillary Clinton and Donald Trump committed
Marrrta [24]

Answer:

Clinton and Trump on fiscal policy In the 2016 Presidential election​ campaign

The policy that will change aggregate demand (AD) the most is a cut in taxes.

Explanation:

Aggregate demand is fueled mostly by household consumption.  A cut in taxes increases the marginal propensity to consume (MPC) and reduces the marginal propensity to save (MPS), but at the same time fuels the marginal propensity to invest by firms trying to meet the new aggregate demand, thereby increasing the aggregate supply (AS) which is the real GDP output.

6 0
3 years ago
Yolanda's Coffee Shop makes a blend that is a mixture of two types of coffee. Type A coffee costs Yolanda $4.25 per pound, and t
vovangra [49]

Answer:

she used type A coffee is 62 pounds

Explanation:

given data

Type A coffee costs = $4.25 per pound

type B coffee costs = $5.60 per pound

this month Yolanda made = 155 pounds

this month total cost = $784.30

to find out

How many pounds of type A coffee did she use

solution

we consider here that this month type A coffee used = x

and type B coffee used = y

so equation will be

x + y = 155       ..................1

and cost equation

4.25 x + 5.60 y = 784.30       ...............2

now from equation 1 we get y

y = 155 - x     .........................3

put this value in equation 2

4.25 x + 5.60 y = 784.3

4.25 x + 5.60 ( 155 - x) = 784.3

solve this equation we get

x = 62

so she used type A coffee is 62 pounds

3 0
3 years ago
Other questions:
  • "how would the distribution of income change if social security were privatized?"
    6·1 answer
  • Rules of the ______ are established by the state government to regulate vehicles and govern traffic.
    5·1 answer
  • how would you predict the survivorship curve of a developed country would compare to that of a developing country
    6·1 answer
  • In the context of skills of successful managers, making sacrifices to encourage and promote desired outcomes in an organization
    7·1 answer
  • The first widespread model of how individual work should be designed was Group of answer choices job enrichment. job rotation. j
    15·2 answers
  • On January 2, Yorkshire Company acquired 40% of the outstanding stock of Fain Company for $600,000. For the year ended December
    8·1 answer
  • Analysts who follow Howe Industries recently noted that, relative to the previous year, the company's net cash provided from ope
    11·2 answers
  • Arrow Printers paid $2,000 interest on short-term notes payable, $10,000 interest on long-term bonds, and $6,000 in dividends on
    6·1 answer
  • f the government put a price floor of $ 11.75 $11.75 on both of the markets, which market would have a greater surplus or shorta
    14·1 answer
  • Most Company has an opportunity to invest in one of two new projects. Project Y requires a $310,000 investment for new machinery
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!