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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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Thornbrough Corporation produces and sells a single product with the following characteristics: Per Unit Percent of Sales Sellin
DaniilM [7]

Answer:

-$5,500

Explanation:

The computation of the overall effect on the company net operating income is as follows:

New Variable cost per unit is

= $44 + $11

= $55

Now the new contribution margin per unit is

= $220 - $55

= $165

New unit Monthly sales is

= 7,000 units + 500 units

= 7,500

Now

New total contribution margin :

= 7,500 units × $165

= $1,237,500

And, the Current total contribution margin is

= 7,000 units × $176

= $1,232,000

So, the change would be

= $1,232,000 - $1,237,500

= -$5,500

6 0
2 years ago
Customs officials sell imported products in government-owned stores.<br><br> -True<br><br> -False
liq [111]
The answer is true.

hope this helped :)
4 0
3 years ago
From each paycheck of your afterschool job, you’re able to save $45 toward the coat. You get paid twice a month. How many months
RoseWind [281]

Answer:4

Explanation:The total in 4 months would equal 360

6 0
3 years ago
The long-run supply curve for a product is horizontal with ATC = 200. Market demand is defined as P = 1,000 − 4 Q. The market is
ANTONII [103]

Answer:

65 firms will be in the industry at the new long run equilibrium

Explanation:

in the long run the P=ATC

quantity before the change is

200 = 1000-4Q

4Q = 800

Q= 200

each firm output = Q/number of firms = 200 / 50

q = 4

new quantity is

200 = 1240-4Q

4Q = 1040

Q = 260

number of firms=new Q/q

=260/4 = 65

the number of firms is 65 in the long run.

3 0
3 years ago
PLZZZZZ HELP!! 20 POINTS!!
Sphinxa [80]

Answer:

i say B or D

Explanation:

out of all of them, the most reasonable would be the money you make from the partnership.

7 0
2 years ago
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