1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sergey [27]
3 years ago
8

The ledger of Mai Company includes the following accounts with normal balances: D. Mai, Capital $9,000; D. Mai, Withdrawals $800

; Services Revenue $13,000; Wages Expense $8,400; and Rent Expense $1,600. Prepare the necessary closing entries from the available information at December 31.
Business
1 answer:
oksian1 [2.3K]3 years ago
8 0

Answer: See explanation

Explanation:

The necessary closing entries from the available information at December 31 will be calculated thus:

1. Dec 31

Dr Services Revenue $13000

Cr Income Summary $13000

2. Dec 31

Dr Income Summary $10000

Cr Wages expense $8400

Cr Rent expense $1600

3. Dec 31

Dr Income Summary = $13000 - $10000 = $3000

Cr D. Mai, Capital $3000

4. Dec 31

Dr D. Mai, Capital $800

Cr D. Mai, Withdrawals $800

You might be interested in
Catherine has been managing her company for a couple of years. She now plans to expand her business by bringing in fresh funding
klio [65]
I would say that for Catherine, the best place to inform her investors about a new stock issue would be a news release on her company website so in that way it is made public, informs the investors and may attract more capital investment in the company as well.

4 0
3 years ago
An individual who previously worked as a salaried corporate attorney loses his or her job. Subsequently, the individual now work
Licemer1 [7]

This individual has experienced structural mobility

Structural mobility:

It happens when societal changes enable a whole group of people to move up or down the social class ladder. Structural mobility is attributable to changes in society as a whole, not individual changes.

In the first half of the twentieth century, industrialization expanded the U.S. economy, raising the standard of living and leading to upward structural mobility. In today’s work economy, the recent recession and the outsourcing of jobs overseas have contributed to high unemployment rates. Many people have experienced economic setbacks, creating a wave of downward structural mobility.

When analyzing the trends and movements in social mobility, sociologists consider all modes of mobility. Scholars recognize that mobility is not as common or easy to achieve as many people think. In fact, some consider social mobility a myth.

What is structural social mobility ?

The concept of structural social mobility refers to change in the social position of many people due to changes in society itself.

Learn more social mobility :

brainly.com/question/26717828

#SPJ4

4 0
1 year ago
The petty cash fund has a current balance of​ $200. based on activity in the​ fund, it is determined that the balance needs to b
notka56 [123]

Cash account will change

3 0
3 years ago
Read 2 more answers
A speaker says, "because the japanese make the best stereo sound systems in the world, you should consider buying a japanese-mad
Advocard [28]
<span>The speaker is using the fallacy of building on an unproven assumption. The speaker has made the assumption that the Japanese make the best stereo sound systems in the world. This is merely his/her opinion, and is not a proven fact. Thus, when the speaker bases another argument on that assumption, he has used a fallacy in reasoning.</span>
7 0
3 years ago
20 POINTS TO SUB TO MY CHANNEL RICECRISISYT
Alex17521 [72]

Answer:

sure man

Explanation:

6 0
3 years ago
Other questions:
  • Phillips Corporation purchased 1,000,000 shares of Martin Corporation's common stock, which constitutes 10% of Martin's voting s
    7·1 answer
  • 8. Katie pays $10,000 in tax-deductible property taxes. Katie’s marginal tax rate is 32%, average tax rate is 28%, and effective
    5·1 answer
  • A. Everyone benefits from street lighting, yet the marginal benefit to any one individual usually falls short of the marginal co
    6·1 answer
  • Should the NLRB require union organizer access to the workplace as a quid pro quo for an employer demanding an election rather t
    12·1 answer
  • Luke and Mia are selling their home. They listed their house three months ago at an extremely high selling price, a price they r
    13·1 answer
  • According to the video, which workers traditionally become Construction Managers?
    10·2 answers
  • On October 1, 20X6, Susan Thompson opened Thompson Decorating Services, a sole proprietorship. Susan began operations with $50,0
    12·2 answers
  • Payments on an installment note include the accrued interest expense plus a portion of the amount borrowed. Question 5 options:
    8·1 answer
  • This document outlines the rules and regulations with regards to developers using brokerage services to 'test the market' for a
    13·1 answer
  • Which of these is a variable expense?
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!