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Hitman42 [59]
4 years ago
5

Closing entries:

Business
2 answers:
Elden [556K]4 years ago
7 0

Answer:

The correct option is D

Explanation:

Closing entries must be jouralized and posted because if they are not posted the company's balance sheet will not balance since the retained earnings account will not be updated.

These are usually the last entries posted on the accounting system prior to a financial statement

Nikolay [14]4 years ago
3 0

Answer:

Must be journalized and posted.

Explanation:

Closing entries are journal entries that is made at the end of an accounting period. It involves the transfer of balances of a temporary account to a permanent account.

Organisations employ the use of closing entries to reset the balances of temporary accounts to zero.

Closing entries are carried out to bring back the revenue, expense, and drawing temporary account balances to zero in preparation for a fresh accounting period.

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Allen has just begun his first professional job. allen will most likely display an increase in which trait?
Andrews [41]
The answer would be conscientiousness. This is the identity characteristic of being cautious, or watchful. This infers a longing to complete an assignment well, and to consider commitments to others important. This sort of individuals have a tendency to be effective and composed rather than accommodating and tumultuous.
3 0
3 years ago
A paint manufacturer has a uniform annual demand for 16,000 cans of automobile primer. It costs $4 to store one can of paint for
Luda [366]

Answer:

B) The company should have 8 production runs each year

Explanation:

Given :

Uniform annual demand, = 16000

Total cost, C = 500y + 2x

xy = 16000

x = \frac{16000}{y}

Let's substitute \frac{16000}{y} for x in C.

Therefore, we have :

C = 500y + 2( \frac{16000}{y} )

C = 500y + \frac{32000}{y}

In order to minimize the total storage and setup costs,

Differentiating wrt y:

C = C_m_i_n,    \frac{dc}{dy}=0

C'(y) = 500y + \frac{32000}{y^2} = 0

y^2 = \frac{320}{5} = 64

y = \sqrt{64} = 8

In order to minimize the total storage and setup costs, the company should have 8 production runs each year

6 0
3 years ago
Zoe takes out a discounted loan for $1,200 at a simple interest rate of 6%, but only receives $1,020 into her bank account. What
I am Lyosha [343]

Answer:  35 months

Explanation:

Interest to be paid = 1,200 - 1,020

= $180

This means that;

180 = 1,020 * 0.06 * t

61.2t = 180

t = 2.94 years

In months

= 2.94 * 12

= 35.28

= 35 months

3 0
3 years ago
Which of the following is true if a company can accept a special order without affecting its regular sales and is within plant c
galina1969 [7]

Answer: Statement D

Explanation: If a company accept a special order then it must be doing so in order to gain or maximize its profits and the profits will only increase when there is an increase in net income.

Thus, statement D is correct implying that net income will increase when the sales price in greater than the variable cost.

3 0
4 years ago
Accompanying the bank statement was a debit memo for an NSF check received from a customer. This item would be included on the b
Arte-miy333 [17]

Answer:

NSF check is also called bounced check, NSF stands for Non-Sufficient Funds. These checks cannot be cashed because of insufficient funds in the payer's account. A client needs to pay bank fees for negotiating a check with non- Sufficient funds. All the banks charge a fee for the bounced check. In case of non sufficient funds, there is deduction from the balance as per the banks statement.

7 0
3 years ago
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