Entry to close the income summary account at the end of the year:
At the time of closing the Income Summary account, the Income Summary account is debited and Retained earnings account is credit with the amount of Net Income. Net Income can be calculated as follows:
Net income = Revenue – Expenses = 201,000-111,700 = $89,300
Hence the entry to close the income summary account at the end of the year shall be as follows;
Income Summary Debit $89,300
Retained earnings Credit $89,300
Answer:
Explanation:
In order to find the highest amount david can pay or in other words the present value of the investment we would have to discount the cash flows
3000/1.08+3000/1.08^2+3000/1.08^3+3000/1.08^4+3000/1.08^5=11,978
Answer:
The amount of uncollectible account expense was recorded for July was $9,500
Explanation:
According to the given data we have the following:
Accounts written off amount=$5,200
Increase in Allowance for Doubtful Accounts=$4,300
Therefore, in order to calculate the amount of uncollectible account expense was recorded for July we would have to make the following calculation:
Uncollectible accounts expense for July= Accounts written off+ Increase in Allowance for Doubtful Accounts
Uncollectible accounts expense for July= $5,200+$4,300
Uncollectible accounts expense for July=$9,500
The amount of uncollectible account expense was recorded for July was $9,500
Following are the three levels of interconnectedness that affect organizational structure:
<h3>
What is the Parsons Thompson model?</h3>
The three layers or levels of the Parson and Thompson model describe what occurs in the enterprise and how a process or activity serves a particular goal.
Here is a summary of Thompson's levels of interdependence:
- In order to create a team where each member contributes to the total, there are three types of interdependence that can be used.
In a business school, the degree of connection between the departments of finance and marketing is:
- Structure of Reciprocal Interdependence.
There are various coordination techniques that might be applied to manage the interdependence, including:
- complete cooperation
- extensive preparation
- Mutual apprehension
We must demonstrate the many layers of interconnectedness and how they might be applied in diverse systems, such as a business school's finance or marketing department, in order to answer the issue.
To learn more about Thompson model refer to
brainly.com/question/26895062
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