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svp [43]
3 years ago
10

Sarasota has year-end account balances of Sales

Business
1 answer:
borishaifa [10]3 years ago
3 0

Answer:

(A)

income summary            728,776‬

  cost of goods sold                       509,030

  adminsitrative expenses               183,720

  income tax expense                       36,026

to record close of expense account

(B)

revenues     822,958

  income summary        822,958

to record close of revenues account

(C)

income summary  18,372

  dividends                            18,372

to record close of dividends account

(D)

income summary    75,810

  retained earnings             75,810

to record close of income summary to retained earnings

Explanation:

(A)

expenses normal balance is debit, to close them, we credit them

(B)

revenues normal balance is credit, to closethem, we debit it.

(C) dividends normal balance is debit, we credit in order to close it.

(D) to close incom summary we will calcualte their balance:

debit for 728,776

debit for    18,732

credit for                   822,598

balance                        18,372 credit

to close we will debit against retained earnings.

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Answer:

sales report is the correct one

4 0
3 years ago
According to the article, which of the following components of the ACA would
bonufazy [111]

The option of  the components of the ACA that would not put upward pressure on health insurance costs to consumers is a lack of competition in health insurance markets.

<h3>What is the Affordable Care Act?</h3>

This is known as an Ct that came to being in 2010, the time when the Patient Protection and Affordable Care Act (ACA) was said to be passed.

The Act covers provision of health insurance to people that is not currently covered and to lower the costs in all of U.S. health care system.

When there is no competition in health insurance markets, upward pressure is not place to deliver affordable health insurance.

With low-income consumers receiving

new subsidies to pay for health insurance, and with insurers having to cover new patients with preexisting conditions that often require expensive treatment, one should

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Economic theory suggests that increasing the level of

competition in the insurance market could decrease

monopolistic practices and reduce costs to consumers.

Based on market concentration data, the United States

See full options below

According to the article, which of the following components of the ACA would likely not put upward pressure on health insurance costs to consumers?

a. Insurers covering preexisting conditions that often require expensive treatment

b. A lack of competition in health insurance markets

c. Incentives for more consumers to own health insurance policies

d. All of the above

Learn more about  health insurance from

brainly.com/question/1941778

4 0
2 years ago
On July 1 the Fisher Shoe Store paid $24,000 to Acme Realty for 6 months rent beginning July 1. Prepaid Rent was increased for t
Papessa [141]

Answer:

Increase Rent Expense, $4,000; decrease Prepaid Rent, $4,000.

Explanation:

Since Fisher Shoe Store paid $24,000 to Acme Realty for 6 months rent beginning July 1, we will calculate monthly rent amount by:

24,000/6 = $4,000

Financial statements are prepared on July 31, so we will adjust the July rent in the adjusting entry.

We will debit the rent expense by $4,000 and credit the prepaid rent which is an asset to decrease it by an amount of $4,000.

4 0
3 years ago
Which of the following isn't considered a capital resource Taylor will need?
ss7ja [257]

<u>Answer:</u>

<em>The factors of production typically include land, labor, capital, entrepreneurship, and the state of technological progress.</em>

<u>Explanation:</u>

In economics, capital typically refers to money. But money is not a factor of production because it is not directly involved in producing a good or service.

Instead, it facilitates the processes used in production by enabling entrepreneurs and company owners to purchase capital goods or land or pay wages. For modern mainstream economists, capital is the primary driver of value.

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