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Zina [86]
3 years ago
14

After posting the first closing entry to the owner's capital account, the balance will be increased (decreased) by a.revenues fo

r the period b.the net income (net loss) for the period c.owner's equity d.zero
Business
1 answer:
BlackZzzverrR [31]3 years ago
8 0

Answer:

b.the net income (net loss) for the period

Explanation:

The owner's capital account is an account that records the proprietor's stake in the business. It shows the current value of the business assets. The owner's capital account is also called an equity account. An increase or decrease in capital or assets is recorded in the account.

If the business generates a profit, the owner's equity increases, a loss reduces owners' assets. At the end of the period, the business has to prepare an income statement showing the net gain or loss. The gain or loss will be posted on the owner's capital account.

You might be interested in
The major difference between a low-cost provider strategy and a focused low-cost strategy is the a. amount of outsourcing involv
docker41 [41]

The major difference between a low-cost provider strategy and a focused low-cost strategy is the size of the buyer group to which a company is appealing.

<h3>What is a strategy?</h3>

These are devices company employ to achieve their medium and long term objectives.

Hence, the major difference between a low-cost provider strategy and a focused low-cost strategy is the size of the buyer group to which a company is appealing.

Learn more about strategies here: brainly.com/question/24462624

#SPJ12

6 0
2 years ago
Consider luxury weekend hotel packages in Las Vegas. When the price is $250, the quantity demanded is 2,000packages per week. Wh
konstantin123 [22]

Answer:

The elasticity is about 1.43, and an increase in the price will cause hotels' total revenue to decrease

Explanation:

The formula of the midpoint for the variation of the quantity is  \frac{Q2-Q1}{(Q2+Q1)/2} *100 and for the price is \frac{P2-P1}{(P2+P1)/2} *100. With the variation of the price and the quantity the elasticity formula is ΔQ/ΔP. Replacing the elasticity is -1.43

The price elasticity of the demand is bigger than 1, that means that the demand is elastic, every increase of the price will cause a bigger decrease of the quantity, the revenue will drop because the increase of the price do not compansete the decrease of the quantity.

6 0
3 years ago
Explain briefly what kind of Consumer Service is particularly open to an entrepreneur.
Crazy boy [7]

Answer:

Almost any Consumer Services enterprise is amenable to the entrepreneur, from personal services like pet care and yard maintenance to a clinical psychology and counseling practice. Particularly fertile in our current business landscape are Consumer Services tied to computers, electronics, the Internet, and social media.

Explanation:

3 0
3 years ago
Farley Inc. has perpetual preferred stock outstanding that sells for $30 a share and pays a dividend of $4.00 at the end of each
nikklg [1K]

Answer:

the required rate of return i r=0.13%

Explanation:

In order to calculate the required rate of interest in the case of a perpetual preferred stock we will use the following formula:

P(p) = D(p) / r

where P(p) is the preferred price of the stock, D(p) is the preferred dividend price and r is the required rate of interest.

This gives us the following values:

30 = 4 / r

r = 4 / 30

r = 0.13%

4 0
3 years ago
On January 8, Lowrence Co. issued a $60,000, 120-day discounted note to Raines Bank. The discount rate is 8%. Assuming a 360-day
Salsk061 [2.6K]

Answer:

a. $58,400

Explanation:

A discounted note, will make the person receive a lesser amount than the amount due at maturity. This way the person who grants the note is receiving interest for borrowing.

<em><u>Calculations</u></em>

principal x discount rate x time = discount

<em><u>Where</u></em> rate and time should be expressed in the same metric IE if the rate is annual express time in portion of years if it is monthly, in months.

60,000 x 0.08 x 120/360 = 1,600

Now, we subtract this amount form the nominal:

nominal - discount = net

60,000 - 1,600 = <u>58,400</u>

6 0
3 years ago
Read 2 more answers
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