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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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In the circular flow of economic​ activity, there are two kinds of markets in which firms and households interact. In the fact
brilliants [131]

Answer:

Factor market is the market where companies purchase the factors of production  and resources that they utilise to produce goods and services. They buy the productive resources  to make payments at factor prices.  Factor maker is also called input market. It is different from product market in which the households are buyers and businesses are sellers. The factor market is opposite of this.

4 0
3 years ago
81) When a seller advertises an item at a low price but once in store pushes a similar item at a higher price, the seller is par
storchak [24]

Answer:

E) bait and switch

Explanation:

BAIT AND SWITCH can be defined as a way in which a seller use advert of a low price to deceive and attract customers to their shop in which the products or item advert by seller is not available in order to sell similar or separate product to the customer at a higher price instead of selling the same product with a low price advertised by the seller.

Example a seller may advert a quality Italian shoe with a low price of $50 in order to deceive a buyer or customers to their place of business by then selling a similar product of shoe that looks like the one advertise by them to the customer at a higher price of $300.

5 0
3 years ago
Prime Corp. has an ending balance in the accounts receivable account of $100,000. Prime recorded bed debt expense of $3000. Prim
Lelu [443]

Answer:

True

Explanation:

Prime's net realizable value of accounts receivable = accounts receivable balance - allowance for uncollectible accounts = $100,000 - $7,000 = $93,000

Bad debt expenses have already been debited, so they are no longer part of the allowance for uncollectible accounts.

5 0
3 years ago
1. How do customers judge the quality of a supermarket? 2. Indicate how and why each of these factors is important to the succes
kirza4 [7]

Answer:

1. How do customers judge the quality of a supermarket?

They judge the quality of a supermarket depending on their values and most urgent needs.

Customers who value quality, and even luxury, will say that a good supermarket is one that offers high quality products.

Customers who value price, will prefer a low-cost supermarket.

2. Indicate how and why each of these factors is important to the successful operation of a supermarket:

a. Customer satisfaction - a very important factor because it determines how well the supermarket is serving its customers.

b. Forecasting - the supermarket needs to forecast all sorts of things, from, sales forecasts, to profit forescasts, to costs forecasts.

c. Capacity planning - the supermarket needs to know what it is actually able to do, and what projects it can embark on, for this, it needs to do a lot of capacity planning.

d. Location - Location is extremely important for a supermarket. It determines a large part of the customer demand because customers prefer supermarkets to be close to where they live.

e. Inventory management - Supermarkets need to manage inventories carefully, specially because a lot of the goods that a supermarket sells, are perishables.

f. Layout of the store - The Supermakert needs to be careful when determining the layout of the store. Customers want a layout that is easy to navigate, and where goods are placed according to a coherent classification.

g. Scheduling - The supermarket needs to establish a convenient schedule for its customer base.

What are some of the ways Wegmans uses technology to gain an edge over its competition?

Wegmans is characterized for its early adoption of ground-breaking technologies. For example, recently Wegmans developed a mobile application to assist blind shoppers.

6 0
3 years ago
Augustus Company is considering investing in new equipment. Based on the following, what is the Average Annual Operating Income
sladkih [1.3K]

Answer:

$50,000

Explanation:

Estimated Cost of New Equipment = $500,000

Useful life in years = 5

Estimated Residual Value = $50,000

Expected New Cash Inflows over life of asset = $700,000

Annual depreciation expense = (Estimated Cost of New Equipment-Estimated Residual Value)/Useful life in years

= ($500,000 - $50,000) / 5

= $450,000 / 5

= $90,000

Average annual cash flow = Expected New Cash Inflows over life of asset/ Useful life in years

= $700,000/5

= $140,000

Average annual operating income = Average annual cash flow - Annual depreciation expense

= $140,000 - $90,000

= $50,000

3 0
3 years ago
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