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
iren2701 [21]
3 years ago
12

A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar year-end.

Business
1 answer:
TiliK225 [7]3 years ago
7 0

Answer:

a. $15,000

Explanation:

common stock:

12/31 = $8,500                    1/1 = $5,500

                                           12/31 = $15,000

retained earnings:

6/30 = $3,500                   12/31 = $15,000

11/30 = $5,000

Income Summary

12/31 = $18,500                 12/31 = $33,500

12/31 = $15,000

income summary closing accounts:

Dr Revenue 33,500

    Cr Income summary 33,500

Dr Income summary 18,500

    Cr Expenses 18,500

Dr Retained earnings 15,000

    Cr Income summary 15,000

net income = amount of income summary closed against retained earnings = $15,000

You might be interested in
Which property of an object describes how easily electricity travels trough it?
MaRussiya [10]
The conductivity of the object
7 0
3 years ago
Does visa debit card consider a credit card? (bank of america?
loris [4]
I don't think so cause they are both different companies.  <span />
5 0
3 years ago
In March 2012, Yoshiro Inc.. decided to retire an outstanding bond issue before maturity. The coupon rate on the bond issue was
natali 33 [55]

Answer:

  • b. Cash from Financing Activities  
  • d. Bonds Payable
  • e. Net Income

Explanation:

Bonds are a form of long term debt and in the cashflow statement this goes to the Financing section. A retirement of bonds would reduce cash and this would come from the Financing activities.

Bonds Payable will also decrease because the bond that is being retired will reduce the number of bonds payable that the company has to pay off.

Finally the Net income will reduce as well to reflect the loss on bond retirement. The bonds were issued at a discount owing to interest rates being higher than the coupon rate in 2011 but on the day the bonds were retired they were selling at a premium with interest rates at 4%. The company paid more than they received and this loss will reduce the net income.

3 0
2 years ago
Jethro has a(n) ____________________ in all aspects of camping: he is faster at carrying a backpack, gathering firewood, paddlin
Alika [10]

Jethro has an absolute advantage in all aspects of camping: he is faster at carrying a backpack, gathering firewood, paddling a canoe, setting up tents, making a meal, and washing up.

Absolute advantage refers to an individual's capacity to efficiently carry out a task when compared to other individuals or groups.

  • In economics, this broadly refers to the ability and capacity to produce and conduct an economic good or a particular service in a more efficient manner than the competitors.
  • In this case Jethro has an absolute advantage in all aspects of camping.
  • Within the constraints of the economic activity, production is more efficient and higher.
  • Fewer resources are required to produce a particular commodity and/or service that needs higher resources for the competitors.
  • With fewer inputs, the outputs stand maximized in the context of absolute advantage.

Therefore, Jethro has an absolute advantage in all aspects of camping: he is faster at carrying a backpack, gathering firewood, paddling a canoe, setting up tents, making a meal, and washing up.

Learn more about absolute advantage here:

brainly.com/question/14044496

#SPJ4

5 0
2 years ago
If one believes interests rates will move lower in the months ahead, he or she should invest in long-term, fixed-rate savings in
Elina [12.6K]

There are  interests rates in goods sold. If one believes interests rates will move lower in the months ahead, he or she should invest in long-term, fixed-rate savings investments is a false statement.

<h3>Does a higher rate of money supply lower interest rates?</h3>

Note that larger money supply often lowers market interest rates, thereby making it much lower expensive for consumers to borrow.

Investment one should choose today if you believe interest rates will go up is Short-term savings instruments. This is because by investing money in short-term savings instruments, one's money can be available to invest in any kind of  higher interest instrument in the future.

Learn more about  interests rates from

brainly.com/question/25793394

7 0
2 years ago
Other questions:
  • Procter &amp; Gamble’s June 30, 2016, financial statements reported the following (in millions): Cash, beginning of year $ 6,836
    14·1 answer
  • In determining whether a particular act occurred within the scope of employment, courts will evaluate whether the employee’s act
    13·1 answer
  • Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, th
    13·1 answer
  • A production department’s beginning inventory cost includes $478,000 of conversion costs. This department incurs an additional $
    6·1 answer
  • The Bloom Company issued stock for $51,500 cash on January 20, 2011. During 2011, the company recorded revenue on account of $18
    11·1 answer
  • On July 1, 2017, Crane Inc. made two sales.
    8·1 answer
  • Can anyone help with solving a Budgeted Balance Sheet? or unlcok a chegg so I can see what they did please and thank you.
    13·1 answer
  • In the project initiation phase, which document contains high-level details of the proposed project?
    9·1 answer
  • Fannie Mae and Freddie Mac are responsible for creating most of the commonly-used residential appraisal report forms.
    9·1 answer
  • Which of the following is not a concept related to explaining abnormal excess stock returns?A. January effect B. neglected-firm
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!