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soldier1979 [14.2K]
3 years ago
10

Below is a partial portion of Jolex’s adjusted trial balance. Cash 12,692 Accounts Payable 5,443 Retained Earnings 1,593 Sales R

evenue 13,108 Rent Revenue 2,756 Salaries and Wages Expense 6,639 Depreciation Expense 1,610 Utilities Expense 1,678 When preparing the closing entry, the credit to Retained Earnings in the closing entry will be
Business
1 answer:
Nataliya [291]3 years ago
7 0

Answer:

$ 5,937.00  

Explanation:

The credit to retained earnings in the year would be the net income for the year which is computed as sales and rent revenue added together minus salaries and wages expense,depreciation expense , utilities expense recorded in the year.

Net income=$13,108+$2,756-$6,639-$1,610-$1,678=$ 5,937.00  

All in all,the credit to retained earnings would be $ 5,937.00  

The net income is the amount by which the overall retained earnings would  increase in the current year

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Elise is the manager in the finance department for a company that competes in a service industry. If her company is like most co
nata0808 [166]

Answer:

This statement is False

Explanation:

One of the characteristics of the modern day service industry is Division of Labor. Thus, Elise would not leave almost all aspects of human resources functions to specialists. This is the decision of a human resources manager and not Elise who is the finance manager. The jurisdiction of her duty and reporting line does not allow such to happen.

4 0
3 years ago
Decide whether you agree or
Leona [35]

Answer:

A. Disagree

B. Disagree

C. Disagree

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Demand is elastic if a small change in price leads to a greater change in quantity demanded. The absolute value of elastic demand is usually greater than 1.

Demand is inelastic if a small change in price has little or no effect on the quantity demanded. The absolute value of inelastic demand is usually less than 1.

Demand is unitary, if a change in price has the same proportional effect on quantity demanded. The absolute value of unitary elasticity of demand is equal to 1.

The absolute value of elasticity for cocaine is 0.2 which indicates that it has an inelastic demand, if price increases, there would be no change in the quantity demanded. Amount spent on cociaine would increase and producers revenue would rise.

The absolute value of elasticity for Christmas three is 1.3 which indicates that it has an elastic demand. If price falls, the quantity demanded would rise and revenue earned by sellers would rise as a result.

When elasticity of demand is unitary, an increase in price leads to the same proportional increase in revenue.

I hope my answer helps you

3 0
3 years ago
DFW Security Services targets high income professionals with custom-designed security systems. These systems are positioned as t
mel-nik [20]

Answer:

<em><u>The answer is</u></em>: <u>A marketing plan.</u>

Explanation:

A marketing plan <em>is a document that companies make and that collects among others: </em>

1.-Main objectives for that year.

2.-Market and company situation.

3.-Definition of the company's customers.

4.-Main campaigns to be carried out and the expected objective of each campaign.

5.-Annual action plan.

<em><u>The answer is</u></em>: <u>A marketing plan.</u>

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I need points sorrybsjsjhsenejwvwnwjemehshsuisksns
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3 years ago
What is your favorite song? Explain.
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my favorite song is moonlight by xxx

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it has a deep meaning behind the song

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3 years ago
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