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2 years ago

What accounts are closed during the closing process? Please answer in complete sentences

2 answers:

5 0

Each cycle, temporary accounts such as revenue, cost, and dividends paid are closed. However, the balance sheet's assets, liabilities, and owner's equity accounts remain open. These permanent accounts and their ending balances serve as the basis for the subsequent accounting period's beginning balances.

jenyasd209 [6]2 years ago

4 0

Answer:

Brainliest pls

Explanation:

Just income, cost, and profit accounts are shut not a resource, responsibility, Common Stock, or Retained Earnings accounts. The four fundamental stages in the end interaction are: Closing the income accounts-moving the credit adjusts in the income records to a clearing account called Income Summary.

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Suppose a parcel of land promises to return $750 per year per acre. what is the capitalized value of the land if the interest ra

sergij07 [2.7K]

A capitalized value of land is the value of the land calculated on Total return per year divided by the interest rate.

The capitalized value of land = Return on land per year ÷ Interest rate

Where Return on land per year = $750

Interest Rate = 7%

The capitalized value of land = $ 750 ÷ 0.07

= $ 10,714.29

Therefore, the capitalized value of land if the interest rate is 7% is $ 10,714.29.

6 0

3 years ago

Social Learning Theory holds that: A. Employees learn what not to do by observing their leaders' behavior and its consequences B

alexgriva [62]

Answer:

B. Employees learn what to do by observing their leaders' behavior and its consequences

Explanation:

Social learning theory: In psychology, "social learning theory" is considered as one of the famous learning theory which was proposed by a psychologist named Albert Bandura. Social learning theory states that learning generally occurs through observing the other person. It encompasses that a new behavior is being learned through imitation process.

The main idea associated with social learning theory is that an individual tends to do things what he or she sees.

8 0

3 years ago

Kosi worked for Playgood Sports Store. He lost his job because the store closed. Kosi is counted as _____. (A)unemployed (B)a ta

Alisiya [41]

Kosi will be counted as an unemployed because even though he is willing and able to work, he was out of employment due to a reason beyond his control.

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3 years ago

Why are slide presentations universal in business environments?

Stella [2.4K]

Answer: C. because they are easy to use and can accommodate all varieties of information

Explanation:

ape x just took it

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3 years ago

Hobby Loss Presumptive Rule. Rachel Schurtz is a high school English teacher. In her spare time, she likes to make her own body

Blababa [14]

<u>Solution and Explanation:</u>

<u>The following steps should be undertaken: </u>

1. She should create extensive records of receipts, expenses, and other business dealings to demonstrate her profit intent which will give strength to fact that her activity is a business endeavor rather than hobby.

2. Secondly, she should keep ready a written and well-documented business plan clearly outlining the steps she would be taking to cut down losses and start earning profit.

3. She should demonstrate that she depends on her business endeavor for her livelihood to repel notion of it being a hobby.

8 0

4 years ago