Preparing closing entries, which involves journalizing and uploading the entries to the ledger, is the eighth phase in the accounting cycle. During closure, there are four entries. To the Income Summary account, the initial entry cancels revenue accounts.
<h3>What order should the steps for closing an account be taken in?</h3>
Following is the basic order of closing entries: Clear the balances in the revenue accounts by debiting each revenue account and crediting the income summary account. To eliminate the balances in all expenditure accounts, credit all expense, accounts and debit the revenue summary account.
A journal entry debiting all revenue accounts and crediting the income summary is used to accomplish this. The same procedure is then used to calculate expenditures. Crediting the expense accounts and debiting the income summaries closes out all expenditures.
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Answer:
$242,000
Explanation:
Calculation of the total amount of manufacturing overhead actually incurred:
Particulars Amount
Indirect Materials $42,000
Indirect labor $101,000
Depreciation On factory equipment $42,000
Additional Manufacturing Overhead <u>$57,000</u>
Total Manufacturing Overhead incurred <u>$242,000</u>
Answer:
Option C
Explanation:
Trademark infringement refers to the violation of the exclusive privileges assigned to a trademark without including the permission of the trademark owner and any licensee Violation that arise when one person, the "infringer," uses a trademark that is equivalent or ambiguously related to a trademark used by some other group in connection to goods or services that are equivalent or identical to the goods or services.
Where the corresponding marks and products are wholly different, violation of the trademark could still be identified if the recorded label is well recognized under the Paris Agreement. In the U.s a cause of litigation is termed trademark dilution with the use of a label for such significantly different facilities.
Answer:
harassment
Explanation:
Based on the information provided within the question it can be said that this large magnitude of solicitation attempts classifies as harassment. This is because you are aggressively pressuring the potential buyer towards buying the product or service that you are offering through a large quantity of different advertisement methods.
Answer:
c. 8.40%
Explanation:
Use CAPM formula to solve this question;
CAPM r = risk free + beta(Market risk premium)
expected return ;r = 12.50% or 0.125 as a decimal
0.125 = 0.02 + 1.25 (MRP)
subtract 0.02 from both sides;
0.125 - 0.02 = 1.25MRP
0.105 = 1.25MRP
Divide both sides by 1.25 to solve for MRP
0.105/1.25 = MRP
0.084 = MRP
Market risk premium (MRP) is therefore 8.40%
