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scoundrel [369]
3 years ago
7

Automation Services Co. offers its services to companies desiring to use technology to improve their operations. After the accou

nts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Automation Services: Fees Earned $614,500 Dividends 45,000 Rent Expense 140,000 Retained Earnings 3,250,000 Supplies Expense 18,200 Wages Expense 320,000 Miscellaneous Expense 8,700 Journalize the closing entries. If an amount box does not require an entry, leave it blank. Dec. 31 Dec. 31

Business
1 answer:
Aneli [31]3 years ago
4 0

Answer:

Please find solution attached below

Explanation:

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If the adjustment for accrued revenue is not recorded a.assets will be overstated. b.net income will be overstated. c.liabilitie
vagabundo [1.1K]

Answer:

The correct answer is d. net income will be understated.

Explanation:

The accumulated or accrued income will be represented by those that have been earned during a financial year but that have not been received or recorded in the payment, because the term has not yet expired. If they are not recognized within the accounting year, it is said that the income item is being underestimated, and for that reason the information in the financial statements is not being faithfully represented.

3 0
3 years ago
Fill in each blank with the correct number from the table.
klasskru [66]

Opportunity costs are the measures of things you must give up when you make a certain decision.

In this case, if country A decides to produce all petroleum, they are choosing not to produce 8 units of seafood. This is their opportunity costs because they are giving up the 8 units of seafood to make petroleum.

The same is true for country B. If they choose petroleum, they are giving up the ability to make 8 units of seafood.

3 0
3 years ago
Read 2 more answers
Susan owns a car that she uses exclusively for personal purposes. Its original cost was $26,000, and the fair market value is $1
givi [52]

Answer:

$22,000

Explanation:

The original cost of the car was : $26,000

The fair market value of the car was : $12,000

The car was bought at a price higher than its fair market value by :

$26000-$12000 = $14000

She exchanges the car for $18000 to get a new one;

The loss while selling the car is : $26000-$18000=$8000

Total loss realized is  : $14000 +$8000 = $22,000

3 0
3 years ago
According to lewin's change model, the _____ stage involves providing employees with new information, new behavioral models, or
Sati [7]

<span>The answer to this question is unfreezing stage. Unfreezing stage is the stage of preparing the people to move and leaving the comfort zones. In this stage, in order for the unfreezing stage to become successful, the managers or leaders should command employees to embrace change end educate the people that change is needed to reach the company’s goal.</span>

3 0
3 years ago
Many health care companies are making adaptations to meet the needs of an aging population as the demand for medical services an
Georgia [21]

Answer:

demographics    

Explanation:

Demographics relates to the population study figured on such variables as maturity, ethnicity, and gender. Census data refers to systematically articulated social and economic information, which includes jobs, schooling, wages, marriage rates, levels of birth and death, and much more.

Governments, businesses, and nongovernmental organizations use surveys to know more of the dynamics of a community for many reasons, namely decision technology development into the economic structure.

7 0
3 years ago
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