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3 years ago

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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What is a common mistake made in budgeting?

Tcecarenko [31]

Peoples budgeting equation is typically:

Income - Budget = Savings

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3 years ago

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4 years ago

Marsha’s Pet Store employs six employees. Their duties are to sell pets, replenish the stock, keep the pets’ cages clean, feed t

Gemiola [76]

Answer: True.

Explanation:

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3 years ago

The narrative pattern of organization is particularly effective when addressing a sympathetic audience.

aalyn [17]

It is true that the narrative pattern of organization is particularly effective when addressing a sympathetic audience.
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3 years ago

Alliance Company's budgets production of 39,000 units in January and 43,000 units in the February. Each finished unit requires 4

Ket [755]

Answer:

The correct answer is 160,800 pounds.

Explanation:

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

Budget production in Jan = 39,000 units

Raw material per unit = 4 pounds

So, total raw material needed = 39,000 × 4 pounds = 156,000 pounds

Beginning inventory = 46,800 pounds

Ending inventory = (43,000 × 4 pounds ) × 30% = 51,600 pounds

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= 156,000 + 51,600 - 46,800

= 160,800 pounds

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4 years ago