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crimeas [40]
3 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:
34kurt3 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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The correct answer between all the choices given is the third choice or letter C. I am hoping that this answer has satisfied your query and it will be able to help you in your endeavor, and if you would like, feel free to ask another question.

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Answer:

D. structural unemployment.

Explanation:

D

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3 0
3 years ago
The objective of _____ is to gather data about project usability, costs, benefits, and schedules.
Ivahew [28]

The objective of <u>Fact-finding</u> is to gather data about project usability, costs, benefits, and schedules.

<h3>What is a fact finding process?</h3>

Fact-finding is known to be a kind of a non-binding process  or an act that entails a qualified impartial third party that tends to make some written findings of fact as well as recommendations for the solving or handling of any issue.

Note that  All costs incurred of fact-finding are borne by the employer and the union and as such, The objective of <u>Fact-finding</u> is to gather data about project usability, costs, benefits, and schedules.

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7 0
1 year ago
Crane Company makes and sells umbrellas. The company is in the process of preparing its Selling and Administrative Expense Budge
34kurt

Answer:

$22,050

Explanation:

The computation of the total budgeted variable selling and administrative expenses for October is shown below:

Sales Commission (9,000 × $0.60) $5,400  

Shipping (9,000 × $1.2) $10,800

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Other (9,000 × .35) $3,150

Budgeted Variable Selling and admin expenses $22,050

We simply added all the variable selling and admin expenses so that the total could arrive

3 0
3 years ago
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