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
Real GDPa.is the current dollar value of all goods produced by the citizens of an economy within a given time. b.measures econom
Gre4nikov [31]

Answer:all of the above are Correct (D)

Explanation:

Real GDP is a macro economic statistics that measure the value of the goods and services produced by an economy in a specific period , adjusted for inflation. Government use both minimal and real GDP as metrics for analyzing economic growth and purchasing power over time.

3 0
2 years ago
Situation analysis is an ongoing process, referred to as __________.
Veronika [31]
<span>The answer is 'scanning the environment'. Environmental scanning is a process that systematically surveys and interprets relevant data to identify external opportunities and threats.</span>
3 0
3 years ago
Hot Shot Delivery Inc. provides the following year end data:
saw5 [17]

Answer:

27.3%

Explanation:

rate of retun on assets:

\frac{Income}{Assets} = $Assets rate of return

​where:

Net income:              112,000

2018 Assets:           410,000

\frac{112,000}{410,000} = $Assets rate of return

$Assets rate of return 0.2731707317073171‬ = 27.32%

During 2018 each dollar of assets generate 27.32 cents of income.

3 0
2 years ago
Which factor or factors listed below are internal influences on a loan’s interest rate?
Romashka-Z-Leto [24]
There is only one factor listed here that is internal influeence on a loan's interest and that is the secind one, which is called collateral offered by the borrower. The rest of them are not internal influences, they are a little bit more of external. Hope this works
6 0
3 years ago
Read 2 more answers
Describe the typical costs of a retiree. HURRY!!!!!! HURRY!!!!!HURRY!!!!!!!!
djverab [1.8K]
Hello there,

A typical cost of a retirement would be the following:

Perhaps the "Car of the year".

Smaller House/Smaller apartment.

Hope this helps.

~Jurgen


3 0
3 years ago
Read 2 more answers
Other questions:
  • During the first quarter of the Super Bowl, Chris keeps track of actual game time vs. time devoted to commercials. Game time amo
    12·1 answer
  • Explain the role of producers and consumers in a free-enterprise economic system.
    5·1 answer
  • Taking a physical count of inventory
    11·1 answer
  • Zytel Corporation produces cleaning compounds and solutions for industrial and household use. While most of its products are pro
    12·1 answer
  • Which photo Grapher is famous for his or her work at Yosemite national park?
    11·2 answers
  • Why should you include your GPA on your resume?
    7·2 answers
  • Jones Co. returned merchandise purchased from Smith Co. The journal entry to record the return of the merchandise by Jones under
    15·1 answer
  • If bonds are issued at a premium, the stated interest rate is a.higher than the market rate of interest b.too low to attract inv
    7·1 answer
  • The first step in the decision-making process is to a. define your wants and needs b. identify your choices c. make a decision d
    5·1 answer
  • You have a credit card bill from ABC Credit for a total of $3,754. Please group the transactions within the appropriate T-Accoun
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!