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11Alexandr11 [23.1K]

4 years ago

11

Review and complete the following statement regarding the Income Summary account. The Income Summary account is (debited/credite

d) for the sum of all revenue accounts and is (debited/credited) for the sum of all expense accounts and its balance will be transferred to the (Capital/Cash) account.

1 answer:

Harlamova29_29 [7]4 years ago

3 0

Answer:

credited ; debited ; retained earnings or capital account

Explanation:

The closing entries are as follows

Sales Revenue A/c Dr XXXXX

To Income Summary XXXXX

(Being revenue account closed)

Income summary A/c Dr XXXXX

To Expenses A/c XXXXX

(Being expenses accounts are closed)

Income summary A/c Dr XXXXX

To Retained earning XXXXX

(Being the difference is credited to retained earning)

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4 years ago

Formaggio Vecchio announced its regular quarterly cash dividend of $0.20 per share. Currently there are one million shares outst

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Answer:

A.On Ex-dividend date: November 20, 2006

B.1%

C.$0.19

D. $1.82

Explanation:

1.On Ex-dividend date: November 20, 2006

will the stock price change to reflect the value of the dividend

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Using this formula

Dividend yield = dividend/share price

Let plug in the formula

= .20/20 = 1%

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0.20*(1 – 15%) = P*(1 – 10%)

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$1,000,00+$100,000

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f interest rates rise but the quantity of loanable funds demanded and supplies remains constant, this implies that Group of answ

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Answer:

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