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mafiozo [28]
2 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]2 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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Answer:

<u>Social consequence entrepreneurship</u><u> </u>

Explanation:

A social consequence entrepreneurship refers to a kind of business which aims at profit making at the same time driven by the motive of creating a positive social impact.

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How has tobacco use changed over the last few decades?
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Suppose the economy is experiencing an output gap of –3%. a. Select each response that indicates how monetary policy or fiscal p
igor_vitrenko [27]

Answer:

Suppose the economy is experiencing an output gap of –3%

a. Monetary policy or fiscal policy can be used to raise actual output toward potential output when:

The government can increase its spending or reduce taxes, which will shift the IS curve to the right and increase GDP.

The Fed can reduce the interest rate, which will shift the MP curve down and increase GDP.

b. The policies identified in part a,

can be used together to raise actual output toward potential output.

Explanation:

Investment-Savings (IS) curve shows all the levels of interest rates and output (GDP) at which an economy's total desired investment (I) equals its total desired saving (S).  This equilibrium can be achieved at a level of interest rate that maximizes output.  The IS curve slopes downward, and to the right because at a lower interest rate, investment is higher, which produces more total output (GDP) for the economy.

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2 years ago
uction Services started the year with total assets of and total liabilities of . The revenues and the expenses for the year amou
VARVARA [1.3K]

Answer: $20,000

Explanation:

Net Income is the amount from revenue that the company made over expenses. It is therefore;

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