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irina1246 [14]
3 years ago
6

Accounting Cycle Review Do IT 0-10a Cullumber Company shows the following balances in selected accounts of its adjusted trial ba

lance. Supplies $30,080 Supplies Expense 5,640 Accounts Receivable 11,280 Dividends 20,680 Retained Earnings 65,800 Service Revenue 101,520 Salaries and Wages Expense 37,600 Utilities Expense 7,520 Rent Expense 16,920 Prepare the remaining closing entries at December 31. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Business
1 answer:
olga_2 [115]3 years ago
4 0

Answer:

Explanation:

The closing entry for the following accounts are shown below:

1. Service Revenue A/c Dr       $101,520

     To Income Summary                              $101,520

(Being revenue account closed)

2. Income summary A/c Dr $67,680

        To Supplies Expense                     $5,640

        To Salaries and Wages Expense   $37,600

        To Utility Expense                         $7,520

        To Rent Expense                             $16,920

(Being expenses accounts are closed)

3. Income summary A/c Dr  $33,840

      To Retained earning                      $33,840

(Being the difference is credited to retained earning)

4. Retained earnings A/c Dr    $20,680

    To Dividend A/c                                $20,680

(Being dividend account is closed)

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Vilka [71]

Answer: Chemicals such as insecticides, pesticides, and others must be kept away because they can contaminate food, and make it poisonous to anybody. Some can cause burns, vomiting, diarrhea, and in very large amounts, drowsiness or death. Chemical products may cause immediate health effects, such as skin or eye irritation or burns, or poisoning. There can also be longer-term health effects from chemicals.

Explanation:

4 0
2 years ago
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On August 5, 2021, Blossom Furniture shipped 50 dining sets on consignment to Furniture Outlet, Inc. The cost of each dining set
Gennadij [26K]

Answer:

$15,960

Explanation:

The total profit on units sold for the consignor:

= Sales Value - Cost of Goods Sold - Shipping Expenses - Commission - Advertising Expenses - Installation and setup costs

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5 0
3 years ago
A list of financial statement items for Blossom Company includes the following:
cricket20 [7]

Answer:

Total current assets            $83,580

Explanation:

The preparation of the current assets section of the balance sheet is shown below:

<u>Current Assets                  Amounts </u>

Cash                                   $22,360

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Accounts receivables     $30,100

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Prepaid Insurance              $5,590

Total current assets            $83,580

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3 years ago
Respond by (1) Identifying the type of syllogism below (Categorical, Disjunctive, Conditional) and (2) explain, in your own word
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The type of syllogism being used in the given sentence is a conditional syllogism.

<h3>What is Syllogism?</h3>

This refers to the use of reasoning in order to draw conclusions about something based on two premises.

Hence, we can see that conditional syllogism was used in the given premises and this is because it made use of either-or to show that if the sidewalk was wet, then that means that it must have rained.

This reasoning is faulty because there are different possible reasons for the sidewalk to be wet and not just rainfall.

Read more about syllogism here:
brainly.com/question/361872

6 0
2 years ago
What is a stock exchange?
liraira [26]

Answer:

A. A place where investors can buy and sell different  investments.

Explanation:

A stock exchange is a place for the exchange of stocks in the market. In other words, it is a place where investors could 'meet' to buy or sell stocks, be it investments, company shares, or company securities.

A stock market, in simple words, is the marketplace for the buying and selling of investments, a trading place for buyers and sellers. So, a stock exchange is a transaction dealing with stocks, equities, or shares of the commercial world. And the transaction or exchange can only be done if the stock is listed on an exchange.

Thus, the correct answer is option A.

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