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gtnhenbr [62]
2 years ago
13

The first two closing entries to the Income Summary account indicate a debit of $57,750 and a credit of $69,700. The third closi

ng entry would be: Multiple Choice debit Income Summary $11,950; credit Drawing $11,950. debit Revenue $69,700; credit Expenses $57,750. debit Income Summary $11,950; credit Capital $11,950. debit Capital $11,950; credit Income Summary $11,950.
Business
1 answer:
zhenek [66]2 years ago
8 0

Answer:

The correct answer is C

Explanation:

Closing entry is defined as the journal entry which is passed or made the end of the accounting period or year, which involves shifting of the data from the temporary accounts on the income statement to the permanent accounts on the balance sheet of the company.

The third closing entry which is to be recorded is as:

Income Summary A/c................................Dr   $11,950

        Capital A/c................................................Cr  $11,950

Being the closing entry has been recorded

Working Note:

Amount = $69,700 - $57,750

= $11,950

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BrainTrust Company produces and sells educational toys for children. In pricing its product, the company needs to make sure it p
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Complete Question:

BrainTrust company produces and sells educational toys for children. In pricing its product, the company needs to make sure it properly estimates its costs. The company can safely estimate that transportation is what percentage of total distribution cost?

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Answer:

a. 50%

Explanation:

In this scenario, BrainTrust Company produces and sells educational toys for children. In pricing its product, the company needs to make sure it properly estimates its costs. The company can safely estimate that transportation is 50% of total distribution cost.

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3 years ago
In 2008, expected inflation exceeded inflation. in 2009, inflation exceeded expected inflation. therefore the real interest rate
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Expensive cost with Trade interest
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Answer:

=2.98%

Explanation:

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Next, plug in the numbers into the CAPM formula;

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3 years ago
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Answer:

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This ultimately implies that, many organizations and business owners use business analysis to measure the level of satisfaction with respect to the company's objectives and its customers through the process of analyzing or reviewing the sales, costs and profits projection of its new products before pushing them out into the market.

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