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4 years ago

At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts:

Business

1 answer:

kvv77 [185]4 years ago

6 0

Answer:

Cash Accounts receivable

debit credit debit credit

42,000 25,000

c. 140,000 a. 185,000

d. 120,000 c. 140,000

e. 31,400 70,000

30,600

Service revenue Accounts payable

debit credit debit credit

a. 185,000 8,400

185,000 b. 45,800

0 0 e. 31,400

22,800

Common stock Retained earnings

debit credit debit credit

24,000 34,600

24,000 f. 10,000

19,200

43,800

Operating expenses Salaries expenses

debit credit debit credit

b. 45,800 d. 120,000

45,800 120,000

0 0 0 0

in order to determine the balance of the retained earnings account at the end of the year, we must first close all the temporary accounts:

Dr Service revenue 185,000

Cr Income summary 185,000

Dr Income summary 165,800

Cr Operating expenses 45,800

Cr Salaries expense 120,000

Dr Income summary 19,200

Cr Retained earnings 19,200

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Answer:

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Explanation:

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Then we multiply the monthly benefit by 12 months to find the yearly value.

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Answer:

A)Career Portfolio

Explanation:

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3 years ago

DeAngelo went to the store to purchase groceries. By the time he reached the paper products aisle, he was down to his last few d

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Generic Brand

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Based on the scenario being described it can be said that the brand that DeAngelo seems to have bought is known as a Generic Brand. These are a product brand that is distinguished by it's absence of any brand name on the package and instead it's package only defines it's characteristics. They usually are the cheapest option and compete with more expensive branded products.

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Farmer Joe is planning to purchase a new hog farm. He anticipates making $20,000 the first year, $25,000 the second year and $30

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Answer:

The simple rate of return is 37.5%

Explanation:

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Initial capital outlay

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$20,000 + $25,000 + $30,0000 -$0 x 100

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= $75,000 x 100

$200,000

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