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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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MatroZZZ [7]

Answer:

The correct option is

D : Technological

Explanation:

Technology such as information and communication  technology or ICT has  made a significant impact in the marketing environment as it can be used to fetch relevant information regarding price and other information relevant before a purchase order is made.

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4 years ago
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MatroZZZ [7]

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3 years ago
Which of the following relationships holds between the value of all production in a country and the total income of the country?
adell [148]

Answer:

They both are equal

Explanation:

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3 years ago
Data are raw information that describes the characteristics of an event or object<br> True/False
Sliva [168]

Answer:

True

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6 0
4 years ago
Read 2 more answers
Strategic trade policy Suppose there are only two producers of aircraft in the world, AirCraft in the United States and AirEurop
katen-ka-za [31]

Answer:

Air Europe should produce aircrafts

a. True

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