Answer:
Credited , Debited, and Retained Earnings
Explanation:
The closing entries are presented below:
1. Revenue A/c Dr XXXXX
To Income summary A/c XXXXX
(Being the revenue account is closed)
2. Income summary A/c Dr XXXXX
To Expenses A/c XXXXX
(Being the expenses are closed)
3. Income summary A/c Dr XXXXX
To Retained earnings A/c XXXXX
(Being the difference i.e net profit is recorded)
Answer:
the present value of this growing perpetuity is $83,692.31
Explanation:
The computation of the present value of this growing perpetuity is shown below:
present value of this growing perpetuity is
= Payment at end of this year ÷ (Discount rate - Growth rate)
= $2,176 ÷ (0.09-0.034)
= $83,692.31
Hence, the present value of this growing perpetuity is $83,692.31
Answer:
<u>D. Freemium pricing</u>
Explanation:
- It is a combined word of free and premium and is a pricing strategy by which the products or services like the software or the video games are charged extra money for the protection of the full service or the upgraded and complete features.
- Thus has a paid version and a free or trial version. As the trial products have a limit placed on them in terms of the features and capacities and limited support.
Answer:
C, Usual, Customary, and Reasonable.
Explanation:
Usual, customary and reasonable (UCR) fees are fees payed by insuraance policy (health) has to pay for services rendered. The UCR fees are mostly a function of services provided to policy holders and area where the service is rendered.
For a fee to be considered usual, customary and reasonable, it must be a usually charged fee, it must fall within
BREAKING DOWN Usual, Customary and Reasonable Fees
price range charged in the area and it mustbe a for a service considered necessary.
I hope this helps.
Answer:
$462,094
Explanation:
Depletion expense is a charge against profits for the use of natural resources. It is calculated by multiply the number of consumed units of the natural resources by the cost per unit.
Cost per unit = Total cost / total number of units expected to be extracted = $5,300,000 / 32,000,000 = 0.165625
Depletion expense = Cost per unit x extracted units = 0.165625 x 2,790,000 = $462,094
