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mart [117]
3 years ago
10

At December 31, Riverbed Corporation reports net income of $454,000. Prepare the entry to close net income. (Credit account titl

es are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
Tpy6a [65]3 years ago
3 0

Answer:

Dr Profit and loss account $454,000

Cr Retained earnings $454,000

Explanation:

Preparation of the Journal entry to close net income for Riverbed Corporation

Based on the information given we were told that the Corporation reports net income of the amount of $454,000 on December 31 this means the Journal entry to close the account will be recorded as:

Dr Profit and loss account $454,000

Cr Retained earnings $454,000

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Racz describes a micromanager as a manager who doesn't give you a lot of breathing room. Micromanagers often stifle workers and
marusya05 [52]

Answer:

core competency

Explanation:

A core competency is a concept in management theory introduced by C. K. Prahalad and Gary Hamel. It can be defined as "a harmonized combination of multiple resources and skills that distinguish a firm in the marketplace" and therefore are the foundation of companies' competitiveness.

4 0
3 years ago
What is one main feature of the free enterprise system
earnstyle [38]

Answer:

Businesses that produce good products are rewarded with profits

Explanation:

In the free enterprise system, governments do not interfere with economic activities in the country. The private sector does all the production and distribution of goods and services.

No restrictions are put in place on the type or number of businesses that entrepreneurs can operate. Due to this reason, business competition is very intense. Customers choose their preferred products from a wide variety offered by the many suppliers. Producers who make products that satisfy customers' needs are rewarded with profits.

7 0
3 years ago
Carol and Dave each purchase 100 shares of stock of Burgundy, Inc., a publicly owned corporation, in July for $10,000 each. Caro
tino4ka555 [31]

Answer:

See below

Explanation:

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Here, one of the cogent factors that determines whether a sale has taken place is if realization has been effected. Here, stock sold by Carol qualifies as a disposition while the decline in the value of stock sold by Dave does not qualify as disposition.

With regards to the foregoing, we can conclude that the federal income tax law treat the decline in the value of the stock differently for Carol and Dave.

8 0
3 years ago
Gabriella and Juanita form Luster Corporation. Gabriella transfers cash of $50,000 for 50 shares of stock, while Juanita transfe
hodyreva [135]

Answer:

c. Neither Gabriella nor Juanita will recognize gain on the transfer.

Explanation:

This is because gabriella transfers cash of 50,000 and does not earn any gain on it, so no gain is recognized.

4 0
3 years ago
Al invested $7,200 in an account that pays 4 percent simple interest. how much money will he have at the end of five years?
Gre4nikov [31]
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
Below are the choices that can be found form other sources:

A. $8,710
B. $8,056
C. $8,640
D. $8,678
E. <span>$8,299
</span>
The amount of money  will he have at the end of five years is C $8,640
4 0
3 years ago
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