Answer:
b) Additional paid-in capital.
Explanation:
Closing process in accounting is a period end activities which involves
the movement or transfer of temporary accounts to permanent accounts.
Temporary accounts are all income statement accounts like sales account, rent account, depreciation expense account, telephone expense account e.t.c.
This exercise is to prepare temporary accounts for the next period. since temporary accounts are measured as at period end, the transaction of a period must not be allowed to mix with another, hence the need to always close or bring to zero all temporary accounts.
In the question, all are income accounts except additional paid-in capital
Answer:
Insurance $4,800 (debit)
prepaid insurance $4,800 (credit)
Explanation:
In order to find out adjusting entries. firstly, we need to calculate the difference between prepaid insurance account and Insurance account.
That could be done by subtracting $3,550 from $8,350.
Difference = 8350-3550= 4800
Answer:
The correct word for the blank space is: value chain.
Explanation:
American economist Michael E. Porter (<em>born in 1947</em>) coined the term value chain to denote the interrelated operating activities businesses perform during the process of converting raw materials into finished products. The goal in value chain analysis is to find ways to add value to the product along each part of the process and do so at the lowest possible cost.
<span>A. A Bachelor's Degree
This has the highest rate of investment because with the other options like a high school diploma, the person who gets such certificate can only earn minimum wage. However, with a 4 years Bachelor's degree the person can earn more and will live according to certain societal standards.</span>
Answer:
d.income statement immediately after income from continuing operations.
Explanation:
We should look at what the accounting principles and normatives threatment suggest.
As the firm should firm indicate the resulf the going business the discontinued operation should be disclosure separately from it. Thus, once complete the disclosure of the continued operation the firm should post the loss on this discontinued operation
