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3 years ago

The adjusted ledger accounts of RD Consulting on December 31, 2019, appear as follows.

Business

1 answer:

lozanna [386]3 years ago

8 0

Answer:

See explanation section

Explanation:

Requirement A

Balance Sheet and Income Statement = See image below

Requirement B

RD Consulting

Closing Entries

December 31 Fees Income Debit 15,300

Income Summary Credit 15,300

(To close the revenues)

December 31 Income Summary Debit $5,820

Supplies Expense Credit $730

Insurance Expense Credit 580

Depreciation Expense–Equipment Credit 530

Salaries Expense Credit 3,000

Utilities Expense Credit 980

(To close the expenses)

December 31 Income Summary Debit $9,480

Roger Dye, Capital Credit $9,480

($15,300 - 5,820) = $9,480

(To close income summary to capital)

December 31 Roger Dye, Capital Debit 3,300

Roger Dye, Drawing Credit 3,300

(To close the drawings to capital)

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2 years ago

Which statement indicates the impact of globalization on the African farming community?

svp [43]

The statement that indicates the impact of the Globalization on the African farming community is use of modern methods of farming increased the crop production of the people.

<h3>What is Globalization?</h3>

Globalization is a term which refers to the interconnection and interaction of the economy with that of the world's economy. It involves the exchange of the knowledge, trade, technology and even people.

The complete image of the question is attached below.

The African farmers faced many challenges but still they are graced with a very appropriate soil type, which has been aided by modern irrigation practices, fertilizers.

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2 years ago

Laurey Inc. is working on its cash budget for May. The budgeted beginning cash balance is $47,000. Budgeted cash receipts total

Masteriza [31]

Answer:

$12,000

Explanation:

Beginning cash balance = $47,000

Budgeted cash receipts = $131,000

Budgeted cash disbursements = $126,000

The desired ending cash balance = $64,000

The net movements around the cash opening balances, cash receipts, disbursement and borrowing results in the closing balance by the formula below;

The desired ending cash balance = Beginning cash balance + Budgeted cash receipts + Borrowing - Budgeted cash disbursements

$64,000 = $47,000 + $131,000 + Borrowing - $126,000

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3 years ago

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2 years ago

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tresset_1 [31]

Answer:

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Selling expenses (70,000)

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Explanation:

A CVP income statement is also known as a Variable Costing Income Statement and is written up as follows :

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3 years ago