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just olya [345]
3 years ago
6

The company's adjusted trial balance as follows includes the following accounts balances: Cash, $15,000; Equipment, $85,000; Acc

umulated Depreciation, $25,000; Accounts Payable, $10,000; Owner, Capital, $63,500; Owner, Withdrawals, $2,000; Sales, $56,000; Sales Returns and Allowances, $3,000; Sales Discounts, $1,500; Depreciation Expense, $25,000; and Salaries Expense, $23,000. All accounts have normal balances.Prepare the second closing entry by selecting the account names and entering dollar amounts in the debit and credit columns.
Business
1 answer:
denpristay [2]3 years ago
6 0

Answer:

Dr. Sales,                                   $56,000

Cr. Income Summary account $56,000

Dr. Income Summary account         $52,500

Cr. Sales Returns and Allowances, $3,000

Cr. Sales Discounts,                         $1,500

Cr. Depreciation Expense,              $25,000

Cr. Salaries Expense,                      $23,000.

Dr. Owner, Capital Account $2,000

Cr. Owner, Withdrawals,      $2,000

Explanation:

All the incomes and expenses accounts are closed in Income summary accounts.

Owners withdrawals balance is adjusted in the owners capital account.

The accounts of Assets, Equity and Liabilities are not closed because these are permanent accounts.

All the following accounts are permanent account

Cash, $15,000; Equipment, $85,000; Accumulated Depreciation, $25,000; Accounts Payable, $10,000; Owner, Capital, $63,500;  ;

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11. Effective communication with patients and co-workers is an important skill for practice managers. Describe what you will do
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Answer:

The dos and donts in excersing active listening

Explanation:

Active listening helps someone understand what the party is trying to say, even if the message is unclear or ambiguous.  As a practice manager, the following actions will enhance or undermine active listening.

<u>The Do's</u>

  1. Nod in agreement
  2. Maintain eye contact
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<u>The Don't s</u>

  1. Avoid noise: switch off audio devices such as radio, computers while listening.
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Answer the following questions, assuming the year begins January 1. (a) If the amount in Supplies Expense is the January 31 adju
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Monthly premium $400

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($2,400/$400)

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Salaries and wages payable, 1/31 $800

$3,300

Less: Salaries and wages expense $1,800

Salaries and wages payable, 12/31/19 $1,500

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