Answer:
A) Debit of $1,445
Explanation:
Closing entries refers to the balance statements that are entered at the end of an accounting period in order to transfer the temporary account balances into permanent accounts. Based on the balances listed in the question it can be said that the closing entry to retained earnings will be Debit of $1,445. This refers to money going out of the account and can be calculated by adding all the revenue to the account and subtracting the expenses leaving $ - 1,445 thus being debit.
Answer:
1. A debit to cash for $135,000
Explanation:
The complete entries are
1. A debit to cash for $135,000
2. A credit to common stock account for $135,000
The oligopoly is known to have a one producer dominating the market. This results in a few suppliers/sellers in the market, and thus can cause a high increase in the price of the products that are being sold in its respective community.
In my opinion, we all have our own values and true colors so we can't judge and predict by only looking cover so we need time to make sure what kind of other stuffs need to fill up after her or his probation period. After that we should decide which is the best way and shouldn't terminate by just only watching cover of a new one during his or her probation period.
