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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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An employee time ticket is an hour-by-hour summary of the employee’s activities throughout the day. True or false?.
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It is true that an employee time ticket is an hour-by-hour summary of the employee’s activities throughout the day.

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When an employee clocks in or out, they generally put a time ticket into a time clock that are printed in an oblong, thick paper shape. Usually time tickets are physical cards that are stamped with beginning and ending times of employees work days. The payroll accountant or bookkeeper creates time tickets after the pay month has ended.

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When delegating a task, it is important to
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<em>Is D</em>

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A new casino wants to hire about 1,000 employees for its new resort. Applicants are asked to complete an online questionnaire th
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When only those applicants who have previously worked in hotels and casinos will be considered eligible for the next step in the hiring process. This best exemplifies a "pre-employment screening process".

<h3>What is a pre-employment screening process?</h3>

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2 years ago
Sobota Corporation has provided the following partial listing of costs incurred during August: Marketing salaries $ 51,600 Prope
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Answer:

Product costs= $259,700

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Giving the following information:

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<u>The product costs are all expenses directly involved in the production. It generally involves the prime costs (direct material and direct labor).</u>

<u />

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