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AysviL [449]
3 years ago
13

The following balances appear on the books of Sarah Simmons Enterprises: Retained Earnings, $29,600; Dividends, $10,500; Income

Summary, $0; Service Revenue, $24,500; Salaries Expense, $6,200; Rent Expense, $3,500; and Advertising Expense, $2,000. All accounts have normal balances.Requirements1. Open a T-account for each account, and insert its adjusted balance as given (denote as Adj. Bal.) at December 31.2. Post the closing entries to the accounts, denoting posted amounts as Clos.3. Compute the ending balance of Retained Earnings.
Business
1 answer:
irina1246 [14]3 years ago
5 0

Answer:

A. T Account balance $19,100

B. $31,600

C.$31,600

Explanation:

Sarah Simmons Enterprises

A.

T-account account

Dr Cr

Dr C/o 10500 Cr Beginning balance 29,600

Cr C/o 10500

Cr Balance 19,100

b.

Simmons enterprise retained earnings ending balance will be:

Retained earnings 29,100

Less Dividends 10,500

Balance 19,100

Add (10,500+2,000) 12,500

Balance 31,600

C. Ending balance of Simmons, Capital will be 31,600 just as in ( b) where the retained earnings ending was 31,600

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PIT_PIT [208]

Answer:

0 hamburgers

Explanation:

if the consumer's budget is $50 and each hamburger and cheese sandwich costs $5 each, her consumption possibilities frontier is:

hamburgers                 cheese sandwiches

      10                                        0

       9                                         1

       8                                         2

       7                                         3

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       5                                         5

       4                                         6

       3                                         7

       2                                         8

       1                                          9

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Since she is spending all her money on cheese sandwiches, she doesn't have any money left to spend in hamburgers.

5 0
4 years ago
A manufacturer of nickel-hydrogen batteries randomly selects 100 nickel plates for test cells, cycles them a specified number of
Aloiza [94]

Answer:

Explanation:

The calculation is shown in the picture attached

P-value > 0.05 it is concluded that the null hypothesis is not reject.

There is not enough evidence to claim that the more than 10% of all plates blister under such circumstances.

4 0
3 years ago
Madisun Company issued common stock for proceeds of $20,000 during 2020. The company paid dividends of $5,000. The company also
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Answer:

Net cash flows from financing activities is $24,000

Explanation:

Cash flow from financing activities:

Proceeds from stock issue                      $20,000

Dividends                                                  ($5,000)

Sale of treasury stock                                $9,000

net cash flow from financing activities      $24,000

The issue of long-term note payable of $35,000 does not involve an actual movement of cash,hence has zero impact on the cash flow from financing activities.

The dividends payment has negative sign because it is an outflow of cash unlike others that cash inflows.

4 0
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8 0
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Answer:

a.

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