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3 years ago

The ledger of Mai Company includes the following accounts with normal balances: Common Stock $9,000;

Business

1 answer:

Amiraneli [1.4K]3 years ago

7 0

Answer: Please see explanation for answer

Explanation:

Journal to close Revenue account

Date Accounts and explanation Debit Credit

31 December Service Revenue $13,000

Income Summary $13,000

Journal to close expense account

Date Accounts and explanation Debit Credit

31 December Income Summary $10,000

Wages Expenses $8,400

Rent expenses $1,600

Journal to close Income Summary account

Date Accounts and explanation Debit Credit

31 December Income Summary $3,000

Retained earnings $3,000

Calculation

Retained Earnings =Services Revenue- (wages expense + rent expense)

$13,000 -$10,000-= $3,000

Journal to close Dividend account

Date Accounts and explanation Debit Credit

31 December Retained earnings $800

Dividends $800

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ollegr [7]

Answer:

Materials quantity variance and labor efficiency variance.

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Material quantity variance is defined as the difference that exists between the actual amount of a material that is used in production and the expected amount to be used. It measures the efficiency with which a raw material is converted into product.

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3 years ago

Making counterfeit copies of Gucci purses, Tommy Hilfiger sportswear, and other international brands is pervasive in some countr

Arlecino [84]

Correct question: Making counterfeit copies of Gucci purses, Tommy Hilfiger sportswear, and other international brands

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Answer:

D, societal culture and norms.

Explanation:

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irakobra [83]

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