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8_murik_8 [283]
3 years ago
14

Which of the following accounts would not be included in the closing process at year-end?a) Rent expense.b) Additional paid-in c

apital.c) Sales revenue.d) Cost of goods sold.
Business
1 answer:
hammer [34]3 years ago
3 0

Answer:

b) Additional paid-in capital.

Explanation:

Closing process in accounting is a period end activities which involves

the movement or transfer of temporary accounts to permanent accounts.

Temporary accounts are all income statement accounts like sales account, rent account, depreciation expense account, telephone expense account e.t.c.

This exercise is to prepare temporary accounts for the next period.  since temporary accounts are measured as at period end, the transaction of a period must not be allowed to mix with another, hence the need to always close or bring to zero all temporary accounts.

In the question, all are income accounts except additional paid-in capital

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The following information is for Hulk Gyms' first year of operations. Amounts are in millions of dollars. The enacted tax rate i
garik1379 [7]

Answer:

Explanation:

                                    Year       Future Taxable Amounts        Future Amounts

                                    2021     2022    2023   2024    2025             Total

Accounting income    $124

Temporary difference:

Prepaid insurance         (28 )     $7         $7          $7         $7               $28

Taxable income            $96

8 0
3 years ago
What is the approximate yield to maturity and the exact yield to maturity (use a calculator) for the $1,000 semi-annual bond? As
bagirrra123 [75]

Answer:

6.67% and 6.694%

Explanation:

The computation of the approximate yield to maturity and the exact yield to maturity is shown below:

For Approximate yield to maturity it is

= 2 × ((Face value - current price) ÷ (2 × time period) + face value × coupon rate ÷ 2) ÷ (Face value + current price) ÷ 2)

=2 × (($1,000 - $950) ÷ (2 × 10) + $1,000 × 6% ÷ 2) ÷ (($1,000 + $950) ÷ 2)

= 6.67%

Now

the Exact yield to maturity is

= RATE(NPER,PMT,-PV,FV)

= RATE (10 × 2, 6% × $1000 ÷ 2,-$950,$1,000) × 2

= 6.694%

7 0
3 years ago
Property rights _________________________________________.
givi [52]
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What other replacements for unions have helped reduce union membership?
kicyunya [14]
Unions are still popular, but not as popular as they were in the late 19th century and early 20th century, because there is more capital circulation, which generally means better conditions for laborers.
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3 years ago
A publisher faces the following demand schedule for the next novel from one of its popular authors:
enyata [817]

Answer and Explanation:

The completion of the second, fourth, and fifth columns of the given table is to be shown in the attachment below:

As we know that

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= Fixed cost + variable cost

The marginal revenue comes from

= Change in total revenue ÷ change in quantity

We simply use these formulas in the spreadsheet below.

4 0
3 years ago
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