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mafiozo [28]
3 years ago
6

Closed the credit balance of $188,000 (from net income) in the retained earnings income summary account.

Business
1 answer:
Marta_Voda [28]3 years ago
3 0
Assuming that you wanted to know how to journal this, it would be :

Dec. 31
  
                                            Debit                        Credit
Income Summary            $ 188,000
      Retained Earning                                          $ 188,000      
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Red when choosing a form of ownership
siniylev [52]

Answer:

see below

Explanation:

1. Private Limited Company

A private limited company is an acknowledged legal entity whose shares are held privately by the founders. The shareholders are the owners. They are not allowed to trade their shares to the public through the security exchange. SHINING STAR BUS COMPANY (PTY) Ltd is currently a limited private company.  Transfer of shares has to be between the existing shareholders, the bus company, and requires authorization. The shareholders have limited liability to the company's debts and are entitled to a share in the company profits.

2. Public Limited Company

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3 years ago
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posledela
The danger temperature zone is a range between 40°F and 140°F. My guess would be 41°F
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Swifty Corporation had 197000 shares of common stock, 19200 shares of convertible preferred stock, and $1503000 of 4% convertibl
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d. $2.18

Explanation:

The answer with detailed working is attached.

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3 years ago
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g In the theory of comparative advantage, a good should be produced in that nation where Multiple Choice the production possibil
Lady_Fox [76]

Answer:

its cost is least in terms of alternative goods that might otherwise be produced

Explanation:

Comparative Advantage

This is simply explained as when an individual has an opportunity cost of performing a task is lower than the other individuals opportunity cost that is it is more efficient. It is the usual fundamental basis for international trade. Its principle includes production at a maximum peak to be achieved if each individual focus on the job or activities for which his or her opportunity cost is lowest.

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