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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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Answer:

Thus to maximize profit, Santora Company should manufacture Bread machine only.

The unit of Bread machine can be produced in 2,000 machine hours is 8,000 units

Explanation:

The profit for Toaster Ovens and Bread Machines is $10 and $90 respectively; thus  

six toaster ovens per machine hour will generate profit of $60 = ($10 *6)

four bread machines per machine hour  will generate profit of $360 = ($90 *4)

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The unit of Bread machine can be produced in 2,000 machine hours is 8,000 units (= 2,000 * 4)

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3 years ago
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Answer:

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3 years ago
If a gain of $225,000 is incurred in selling (for cash) a building having a book value of $900,000, the total amount reported in
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Answer:

$1,125,000

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This represents an inflow of cash and will be represented by a positive value in the statement of cash flows. The total amount reported in the cash flows from investing activities section of the statement of cash flows is $1,125,000

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