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IrinaVladis [17]
3 years ago
14

Closing entries are journalized and posted:_______.

Business
1 answer:
Gnoma [55]3 years ago
6 0

Answer:

The correct answer is letter "B": after the financial statements are prepared.

Explanation:

A closing entry is a journal entry after the preparation of the financial statements, at the end of an accounting period. This closes a temporary account and moves all the information either to a permanent balance sheet or to the income statement. Temporary accounts include revenue, expenses, and dividends and must be closed at the end of the year.

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The following information pertains to the Southern Division of Olson Company: Net Sales $5,250 Variable Costs: Cost of merchandi
Andru [333]

Answer:

The contribution controllable by a segment manager is $ 1,850

Explanation:

Segment Manager`s performance is evaluated on be bases of items directly controllable by them ( controllable contribution)

<u>Calculation of Controllable Contribution :</u>

Net Sales                                                                        $5,250

<em>Less</em> Variable Costs :

Cost of merchandise sold                                               (1,200)

Operating expenses                                                          (450)

Controllable Contribution                                                3,600

<em>Less</em> Controllable Costs:

Fixed Cost Controllable                                                    (600)

Unallocated costs                                                             (1,150)

Contribution Controllable -Segment Manager                1,850

8 0
3 years ago
How much profit is this monopolist earning? You may use this formula when solving the question: Profit = Total Revenue − Total C
WITCHER [35]

Answer: $320

Explanation:

The Profit as the question shows is the Total Revenue less the total cost.

Total Revenue.

This will be the amount of goods sold multiplied by the price they are sold at.

The monopolist maximises output where Marginal Revenue equals Marginal Cost which from the graph is 4 units.

The price they sell at is the intersection of this quantity with the demand curve which is at $120.

Total Revenue = Units Sold * Price

= 4 * 120

= $480

Total Cost

The total cost will be the average cost per unit multiplied by the number of units sold. The relevant average cost is the cost associated with the maximised out of 4 units which according to the graph is $40.

= Average cost * number of units

= 40 * 4

= $160

Profit = 480 - 160

= $320

4 0
3 years ago
g Marginal revenue product (MRP) of labor refers to the: A. amount by which a firm's total resource cost increases when it emplo
UNO [17]

Answer:

c

Explanation:

Marginal revenue product (MRP) is the change in total revenue when one more unit of a resource is employed.

For example :

Units of labour    Revenue

1                             100

2                             200

The MRP of employing 2 units of labour = (200 - 100) / (2 -1) = 100                          

7 0
3 years ago
Purple Feet Wine, Inc., receives an average of $14,000 in checks per day. The delay in clearing is typically four days. The curr
Dominik [7]

Answer:

The correct answer is $56,000.

Explanation:

According to the scenario, the given data are as follows:

Average checks per day = $14,000

Days in clearing = 4 days

Interest rate = 0.018% per day

So, we can calculate the company's float by using following formula:

Company's Float = Average checks per day × Days in clearing

By putting the value in the formula, we get

Company's Float = $14,000 × 4

= $56,000

8 0
3 years ago
How does a change in a​ country's real exchange rate affect its net​ exports?
Gnom [1K]

Answer: (C) When a​ country's real exchange rate appreciates​, it imports more and exports less​, causing its net exports to fall.

Explanation:

When a country's real exchange rate appreciates i.e the value of its currency increases, it imports more because more products could be bought with the same amount of the currency as a result of its increased value, and it export less because their goods would become more expensive for other countries resulting in reduced demand. Therefore, resulting in the fall of its net export. This is a form of trade balance.

8 0
3 years ago
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