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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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4 0

2 years ago

Recharge corporation makes batteries. Sol is injured when the recharge battery in his phone burst into flames. Sold product liab

IrinaK [193]

Answer:

Sold product liability suit against the maker, alleging a design defect, the court may consider an available alternative design

Explanation:

At the core of the idea of faulty item configuration exemplified in the Restatement (Third) of Torts: Product Liability is the accessibility of a sensible elective plan that could have diminished or kept away from the danger of mischief. In any case, a product might be defective, regardless of whether no sensible elective plan exists, if it neglects to give possible directions or warnings of a predictable danger of damage. An ongoing choice of the Massachusetts Appeals Court represents the use of these standards.

8 0

3 years ago

Read 2 more answers

An event management company is considering the position of head of customer relations. Among the group leaders, Ms Hoa Mr Lam ar

svetlana [45]

Answer:

ms Hoa

Explanation:

Ms Hoashould be chosen because she is an agile active person who has extensive relationships with customers and because the company is looking for a person to head the customer relations department she is better candidate than mr Lam

3 0

3 years ago

Read 2 more answers

How far back should you list your work history a. five years b. 12 years?

vodka [1.7K]

A.5
B.12
C.10
D.20
The answer is C.10

7 0

4 years ago

In the circular flow model _______.

Yuri [45]

Answer:

In the circular flow model, goods markets provide for the transfer of money and labor markets provide for the transfer of inputs.

Explanation:

The liquidity of money in goods markets is kept unhindered by the flow of goods, as a result of which, the transfer of money keeps happening.
On the other hand, the labor markets function as the source of necessary input that is required for the business to keep running.
When both these markets work in synchronous, there is a circular flow of entities within the market.

6 0

3 years ago