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Andru [333]
4 years ago
15

When closing entries are made:

Business
1 answer:
Anastaziya [24]4 years ago
4 0

Answer:

e) All temporary accounts are closed but permanent accounts are not closed.

Explanation:

At the time of the closing entries, the temporary accounts are closed instead of all other accounts. The temporary accounts include revenues account, expenses account, dividend paid account, ultimately income summary account

These accounts are closed so that the amount of these accounts should be carried forward to the next accounting period. The amount would always be zero, And in every accounting period, these accounts are closed.

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Explain how a factory assembly line is an example of specialization?
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Answer:It is

Explanation: because the line is divided in different sector. Each sector has specific operations, using specific tools and specific process. Each operation or group of operations must be done by employees or workers. Those worker also required specialized training.

3 0
3 years ago
"debby just got a job as an assistant in a new federal agency called the accounting commission that was set up to regulate the a
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<span>The next step in obtaining enactment of the rules after publication would be the opportunity for all interested parties to submit written comments.</span>
8 0
4 years ago
Creating an endowment Personal Finance Problem On completion of her introductory finance​ course, Marla Lee was so pleased with
Nana76 [90]

Answer:

Course cost netxt year: 919.8

Perpetuity fund  at 6% return: 24,205.27

Perpetuity funds at 8% return: 15,858.63

Explanation:

1 student 300

3 student 900

it grows at 2.2% per year

the return on the fund will be of 6%

The cost of the couse for next year will be:

900 x (1+2.2%) = 900 x 1.022 = 919.8

The perpetuity will be calculate as follow:

\frac{cost}{return-growth} = Perpetuity

\frac{919.8}{0.06-0.022} = Perpetuity

Perpetuity fund: 24205.26316

Ifthe return is for 8% per year:

\frac{919.8}{0.08-0.022} = Perpetuity

Perpetuity funds: 15858.62069

8 0
3 years ago
Divine Apparel has 3,900 shares of common stock outstanding. On October 1, the company declares a $0.50 per share dividend to st
Afina-wow [57]

Answer:

1. October 1

Dividends (Cr)      1950

Dividend Payable (Dt)        1950

2. October 15

No journal entry required

3. Record the payment of cash dividends

Dividend Payable (Cr)  1950

Cash  (Dt)   1950

Explanation:

(<em>3,900 shares of common stock outstanding</em>) *(<em>declared  $0.50 per share dividend</em>) = 1950

3 0
3 years ago
Sage Hill Inc. Issues $254,000, 10-year, 10% bonds at 97. Prepare the journal entry to record the sale of these bonds on March 1
Mamont248 [21]

To record final annual interest and bond repayment:

2017

Mar 1

Bonds interest expense       $25,400

Bonds payable                      $254,000

          Cash                                                  $279,000

On March 1, 1997, the date of issuance, the entry is:

1997

Mar 1

Cash                                        $254,000

          Bonds payable                                  $254,000

On each March 1 for 10 years, beginning March 1, 1997 (ending March 1, 2017), the entry would be (Remember, calculate interest as Principal x Interest Rate x Time)

Mar 1

Bond Interest Expense ($100,000 x 12% x 1)          $25,400

          Cash                                                                                  $25,400


8 0
4 years ago
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