1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
zubka84 [21]
2 years ago
7

The income statement for the year 2015 of Fugazi Co. contains the following information: Revenues$70,000 Expenses: Salaries and

Wages Expense$45,000 Rent Expense12,000 Advertising Expense10,000 Supplies Expense6,000 Utilities Expense2,500 Insurance Expense2,000 Total expenses77,500 Net income (loss)$ (7,500) After all closing entries have been posted, the Income Summary account will have a balance of
Business
1 answer:
ahrayia [7]2 years ago
4 0

Answer:

$0

Explanation:

When the closing entries are recorded, so the net profit or net loss would be transferred to the retained earning account with the help of the closing entries

Therefore after closing entries posting, the balance in the income summary account would be zero and the same is to be considered

hence, the balance would be zero

You might be interested in
Suppose you and a classmate are playing a game where your classmate proposes a division of​ $1.00. ​ Then, you either accept or
AleksandrR [38]

Answer:

  1. Your optimal strategy is to accept the proposed division.
  2. Your optimal strategy is to offer your classmate ​$ 0.49.

Explanation:

An optimarl strategy is one that maximizes a player’s expected payoff. In this case this is a cooperative game.

6 0
3 years ago
What is the bullwhip effect and how does it relate to lack of coordination in a supply chain?
rewona [7]

Answer:

The bullwhip effect happens when retailers or other members of the supply chain overestimate a sudden increase in demand, and this causes a chain reaction in all the other participants of the supply chain that start requesting higher quantities of goods or materials for production. E.g. the fidget spinner was a very popular fad and its producers probably didn't anticipate how large the demand would be. Once the product became extremely popular, everyone wanted to sell fidget spinners. This caused an increase in the order quantities of all the supply chain. Once the fad faded out, all this momentum stopped and many stores, distributors, wholesalers, and even factories were left with huge unsold stocks of fidget spinners.

When the supply chain is well coordinated, there is little chance for some retailers or distributors to over react and want more product just in case. If your supply is guaranteed, then it would take some extraordinary increase in demand to make you want to increase your purchase orders. But if your supply chain is not well coordinated, you might fear that you will lose a lot of sales and other competitors will make them. Then you get anxious and start ordering large quantities.

6 0
3 years ago
Part-time workers who want full-time work are counted as: A.) fully employed and therefore the official unemployment rate may ov
Vesnalui [34]

Answer: B

Explanation:

6 0
2 years ago
In the context of choosing an appropriate advertising media, at present the brands that cater to the older generations are not s
Lemur [1.5K]

Answer:

Social media is a very good way of protesting because many many people go on social media sites and they can join in and instead of being abused by other people outside you can easily make a protest on video or a website.

6 0
3 years ago
Read 2 more answers
Suppose Tim spends his entire income on hot dogs and hamburgers and consumes at least some of both. Now suppose that the price o
natali 33 [55]

Answer:

D. Tim consumes more hamburgers and fewer hot dogs.

Explanation:

For his utility to remain constant, Tim will neither consume more goods in total, nor spend more money than before.

Therefore, because the price of hot dogs has risen, while the price of hamburger has remained the same, he will now buy more hamburgers and less hot dogs, because eating more hamburgers and less hot dogs will not decrease his satisfaction, it will remain the same. We can also conclude from that both fast food products are perfect substitutes for Tim.

7 0
3 years ago
Other questions:
  • Of the approaches to pursuing international markets, developing a ________ involves the greatest commitment and risk. joint vent
    6·1 answer
  • The company paid $35,000 cash in dividends to the owner, jen rogers. the entry needed to close the dividends account is:
    10·2 answers
  • How does the brand of popcorn affect the amount of popcorn popped?
    7·1 answer
  • What theory asserts that workers want to be taken care of and protected by their leaders?
    9·1 answer
  • Write before each job situation below the letter corresponding to the type of test described. a. genetic b. skills c. personalit
    14·1 answer
  • Specific data such as age, income, family size, and occupation, used for marketing purposes, is called A. demographics. B. the t
    13·1 answer
  • To become industrial, a nation must have raw materials, workers, and capital. True or false?
    11·1 answer
  • Choose two consumer protection laws and, in about 500 words, describe the benefits they provide for consumers and the costs to s
    5·1 answer
  • a manfucturing firm is considering two locations for a plant to producr a new product. Location A has a foxed cost of 80,000 and
    14·1 answer
  • With the holiday season approaching, Denelle reviews holiday sales from the last five years to determine how much inventory to p
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!