Answer:
d. Ensure that net income or net loss and dividends for the period are closed into the retained earnings account.
Explanation:
Temporary accounts are closed at the end of accounting period so that net income, net loss and dividends for the period are closed into retained earnings account.
All the expenses and gains or income of kind accounts must be closed at the end of the year and in order to close them, they are transferred to either Trading Account or profit and loss Account.
I believe that the answer that would best complete the given statement above is the term MOBILE transaction. <span>The ability to conduct financial transactions through a smartphone is known as mobile or online transaction. Hope this is the answer that you are looking for. </span>
A likely outcome of taxing the rich at a high percentage in order to <u>redistribute</u> income would be discouraged entrepreneurship and work.
Redistribution of income and wealth is the switch of earnings and wealth (which includes bodily property) from a few individuals to others through a social mechanism together with taxation, welfare, public services, land reform, monetary rules, confiscation, divorce, or tort law.
Income redistribution will lower poverty by way of lowering inequality if completed properly. However, it may not boost up the increase in any most important way, besides possibly by way of lowering social tensions springing up from inequality and allowing terrible human beings to devote more sources to human and physical asset accumulation.
Governments can play a position in growing or lowering profits inequality through taxes (e.g. tax exemptions) and transfers (e.g. allowances or subsidies). The Gini coefficient is the usual degree of inequality representing the earnings distribution of the populace within a given country.
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Answer:
a. Debit Vacation Benefits Expense $16.500: credit Vacation Benefits Payable $16,500
Explanation:
858,000 wages per year / 52 weeks per year = 16,500 per week
The weekly wages for our employees are 16,500 dollars
For each of the two weeks of vacations we will do an adjusting entry by this amount.