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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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Answer: Manfred's son is more likely to engage in delinquency and early sexual behavior.

Explanation:

Since the son is hanging out with older people he will want to be like them. He may also suffer from peer pressure and believe that he needs to do as they do to fit in with the new crowd.

Since the son is going to another part of the town, he may believe that his father and mother will not check on him. He also may do this so no one that he knows from his side of town can tell on him since they don't hang out there.

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2 years ago
Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following: Com
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Answer:

Explanation:

The preparation of the  stockholders' equity section of the balance sheet is shown below:

Common stock, $10 par value,

103,000 shares authorized and 20,000

shares of common stock issued                    $200,000  (20,000 × $10)

Paid in capital in excess of par value $120,000      {20,000 shares × ($16 - $10)}

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Paid in capital in excess of par value $36,000     {3,000 shares × ($20 - $8)}

Retained earnings                               $60,000

Total                                                     $440,000                  

7 0
3 years ago
Does anyone know the answers in this chapter???
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I saw on quizlet.com that the answer to this question is $199,000 and that number appears to be one of your choices. If I were you I would choice C.

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2 years ago
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Answer:

The correct answer is: <u>5 years</u>.

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To begin with, the Uniformed Services Employment and Reemployment Rights Act of 1994 is the name given to an American law in the U.S. federal government in order to protect the rights of the civilians who were called to serve in military services regarding the subjects of their jobs and employment. It was signed into law by the U.S. President Bill Clinton in October 13, 1994.

Secondly, the criteria from the act known as USERRA establishes that the maximun period of time that a person could be absent from his work due to military duties and still retain reemployment according to the act is up to five years.

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3 years ago
Tara invests $2,500 today and another $1,500 a year from now. Her investments starting year 2 keeps increasing by $100 every yea
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Answer:

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