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ZanzabumX [31]
4 years ago
11

Rider Company is in the process of preparing it closing entries. It first closes its revenue accounts by crediting the Income Su

mmary account for $68,000 and then, closes its expense accounts by debiting the Income Summary account for $45,000. The entry to then close the Income Summary account is __________.
Business
1 answer:
Olin [163]4 years ago
4 0

Answer:

Dr Income summary 23,000

    Cr Retained earnings 23,000

Explanation:

The income summary is a temporary account created to close the income statement and expense accounts. It has a credit balance if the company made a profit during the year, or a debit balance if it lost money.

It must be closed to retained earnings, if the company generated profits, retained earnings will increase. On the other hand, if the company generated losses, retained earnings will decrease.

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Managers practice the art of getting things done using organizational resources such as: Multiple select question. information w
Zarrin [17]

The managers get things done by using organizational resources such as: such as:

  • equipment
  • workers
  • information

<h3>What is an art of getting things done?</h3>

These involves the act of directing, organizing, coordination and guiding the organizational processes to achieve organizational goals.

Therefore, the Option A, B, D is correct.

Read more about organizational resources

<em>brainly.com/question/15075305</em>

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4 0
2 years ago
Two alternatives, code-named X and Y, are under consideration at Guyer Corporation. Costs associated with the alternatives are l
sergejj [24]

Answer:

It will be a financial disadvantage of Alternative Y over Alternative X

which menas, alternative X is better as their work is lower.

Explanation:

\left[\begin{array}{cccc}&X&Y&$Differential\\$Material cost&-43000&-62000&-19000\\$Processing cost&-47200&-47200&0\\$Equipment rent&-17800&-17800&0\\$Occupancy cost&-16800&-25100&-8300\\&&&0\\$Total&-16800&-25100&-8300\\\end{array}\right]

6 0
3 years ago
Suppose that we want to evaluate the effect of several variables onannual saving and that we have a panel data set on individual
kkurt [141]

Answer:

Following are the responses to the given question:

Explanation:

Note that others will therefore increase his age by two percent from 2009 to 1992.

\Delta age_{i}=2  \ \ \  where \ \ i =1,2,....,n

And if the trend is running:

 \Delta saving_{i}=\beta _{0}+\beta _{1}\Delta age_{i}+...+u_{i}

We're breaking MLR.3 as \Delta agei it's the same for all -> No different from a permanent designer cannot immediately distinguish the influence of age from the aggregate time effect because age changes per person by the same amount.

6 0
3 years ago
In a discount interest loan, you pay the interest payment up front. For example, if a 1-year loan is stated as $20,000 and the i
Vikki [24]

Answer:

c. 11.1%

Explanation:

The formula to compute the implied rate is shown below:

Future Value  = Present Value ×  (1 + Interest rate)

$20,000 = $18,000 × (1 + Interest rate)

$20,000 = $18,000 ×  (1 + Interest rate)

So,  (1 + Interest rate) = 1.1111

So, the interest rate is

= 1.1111 - 1

= 0.1111 or 11.1%

We simply applied the above formula to determine the implied rate on this loan

8 0
4 years ago
Event Credit Payment Interest Principal Balance
Zarrin [17]

Answer:

it will take a year to pay it off the intrest rate will be 1.000000000000000

Explanation:

4 0
3 years ago
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