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crimeas [40]
4 years ago
14

Francis Real Estate Company has the following account balances at December 31, the end of its fiscal year. Debit Credit Commissi

ons Earned....... $84,900 Wages Expense....... $36,000 Insurance Expense....... 1,900 Utilities Expense....... 8,200 Depreciation Expense....... 9,800 Retained Earnings....... 72,100 Assume that the company has not yet closed any accounts to retained earnings. Prepare journal entries to close the temporary accounts above. After these entries are posted, what is the balance of the Retained Earnings account
Business
1 answer:
34kurt4 years ago
4 0

Answer:

Dr Commissions earned 84,900

    Cr Income summary 84,900

Dr Income summary 55,900

    Cr Wages Expense 36,000

    Cr Insurance Expense 1,900

    Cr Utilities Expense 8,200

    Cr Depreciation Expense 9,800

Dr Income summary 29,000

    Cr Retained earnings 29,000

The balance of the retained earnings account is $101,100 after all temporary accounts have been closed.

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A _____ occurs when two or more transactions wait for each other to unlock data.
Zigmanuir [339]

Answer:

Condition of Deadlock

Explanation:

Deadlock is a condition or a situation which occurs or happens when there are multiple locks waiting to happen in such a way or a manner that none of the users could perform any work.

Therefore, the deadlock condition happens or occurs when 2 or more transactions are waiting for each other to unlock the data.

For example, The first and the second user, both of them lock some data, them each of them trying to access the each other data which is locked. So, both of them waiting for each other to unlock, this situation is deadlock.

7 0
3 years ago
In economics, another term for satisfaction is marginal productivity. income elasticity. utility. price elasticity.
Feliz [49]

Answer:

Utility

Explanation:

Utility is an economic term used to represent satisfaction or happiness. Marginal utility is the incremental increase in utility that results from consumption of one additional unit.

3 0
3 years ago
Larry is a hard-working college freshman. One Saturday, he decides to work nonstop until he has answered 200 practice problems f
OverLord2011 [107]

Answer:

  • The marginal gain from Larry's second hour of work is 60 problems
  • The marginal gain from Larry's fourth hour of work is 20 problems
  • The best combination is 1 hour of working problems + 3 hours of reading

Explanation:

To get the <em><u>marginal gain</u></em> we subtract from the latest hour, in this case the second hour (140), the production from the previous hour (80). 140-80=60. <em>It's always the same, the latest minus the previous one.</em>

So let's do the same for the fourth hour:

Noon................200 problems

minus

11:00 AM..........180 problems

200-180= 20 problems

Now to know how many hours he should spend working on problems and reading, let's compare:

An hour of reading equals to 70 problems made; (because working on 70 problems raises a student’s exam score by about the same amount as reading the textbook for 1 hour).

hours of working problems         problems solved

0............................................................0

1.............................................................80

2............................................................140

3............................................................180

hours reading                    problems equivalent to hours read

4...............................................(4*70)=280

3...............................................(3*70)=210

2...............................................(2*70)=140

1................................................(1*70)=70

finally let's add up the two combinations (0 and 4, 1 and 3, 2 and 2, 3 and 1)

0 and 4_______________0+280= 280

1 and 3________________80+210=290

2 and 2_______________140+140=280

3 and 1________________180+70=250

<em>And the best combination is 1 hour of working problems + 3 hours of reading=</em><em>290</em>

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Mack reynolds, the manager of the special products division, must decide whether to bid or not, and if intermodular semiconducto
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