An accountant passed the closing entries of the expenses and then closed all the expense accounts by crediting them. Which account should she debit to complete the dual aspect of the journal entry?
A.
income account
B.
income summary account
C.
revenue account
D.
purchase account
E.
equity account

Answers

Answer 1

Answer: Income Account

Explanation:

Also referred and Income Statement.

Answer 2

Answer:

Income summary account

Explanation:


Related Questions

for economics students: does anyone have an example of a demand and supply curve diagram for the labour force that is suitably labeled? thanksss :))

Answers

You can refer to the attachment!!

what is the input of a computer?

Answers

Answer:

to any information, or data, that is sent to a computer for processing.

Explanation:

Input is often sent to the computer from a device such as a keyboard, mouse, or other input device.

[tex] \huge \mathbf{ \colorbox{black}{ \color{white}{Hello!}}} \boxed{♡} \Huge{►}[/tex]

An input is, in the field of computer science, a series of data that is received by a certain system for further processing. This concept always appears linked to the output, which involves the presentation of the information so that the user makes use of it as needed.

major differences between service companies and retail or manufacturing companies is that retailers and manufacturers must account for

Answers

The main difference between service companies and retail or manufacturing companies is that retailers and manufacturers must account for;

Inventory and Cost of Goods

Inventory refers to the goods in stock which the business wishes to sell in order to make a profit from.

Retailers and manufacturers produce items that will be sold and these items need to be stocked somewhere till the need for them arises.

The same is not applicable to service companies because they do not have physical goods to sell.

Also, the cost of goods refers to the direct cost of producing goods. Since service companies do not produce goods, this is not accounted for.

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An example of consumer spending when calculating the GDP using the expenditures approach is _____.


rent

purchase of weapons for the military

purchase of software

none of the above

Answers

purchase of weapons for the military

You downloaded several of your favorite songs and used them in an ad to promote your product on social media sites. The ad was rejected because of the songs you chose. You are told that you violated Fair Use copyright.

Which three are factors used to evaluate Fair Use copyright? (Choose three)

Purpose of your use


Obtained from a subscription website


If it is for use by a teacher or student


Effect of your use on the potential market of the work copied


Copied form a work purchased by a friend


Amount of the work copied

Answers

Answer:purpose of your use

Effect of your use on the potential market of the work copied

Amount of the work copied

Explanation:

Fair use is a law that permits the party to use a copyrighted work without the copyrighter's owner's permission. It can be used for criticism, teaching, news reporting, or research.

The correct answers are:

purpose of your use Effect of your use on the potential market of the work copied Amount of the work copied

The fair use of copyrights can be explained as:

1. The purpose and the character of the user are considered as a violation of the Fair Use Copyright law.

2. The substantiality or the amount of portion used is also termed as the violation of the Fair Use Copyright.

3. The effect on the potential market of the copied work without agreement is considered a violation of copyright use.

Thus, the purpose, amount, and effect of the content used is considered a violation of fair use copyright.

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piaget’s concrete operational stage is characterized by the active, appropriate use of __________.

Answers

Piaget’s concrete operational stage is characterized by the active, appropriate use of: logic.

Jean Piaget was a developmental biologist and psychologist who was born on the 9th of August, 1896 in Neuchâtel, Switzerland.

Piaget worked extensively on cognitive development in infants and teenagers based on the following:

Judgement.Knowledge.Thoughts.

Jean Piaget's stages of cognitive development in an ascending order includes;

I. Sensorimotor stage.

II. Preoperational stage.

III. Concrete operational stage.

IV. Formal operational stage.

The concrete operational stage is typically described as age 7 through age 11, at which the child thinks logically.

In conclusion, the active, appropriate use of logic is a feature of John Piaget’s concrete operational stage.

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which constraint does not allow someone to create an order for a nonexistent customer?

Answers

Answer:relational integrity constraint

Explanation:

zoe, a department manager at furniture square, is considering whether to use a group to develop a plan to incentivize employees to sell extended warranties and auxiliary services. zoe should consider having the group make this decision if:

Answers

Considering the situation above, Zoe should consider having the group make this decision if: "It will increase acceptance of the plan."

This is because the main goal of Zoe is to sell extended warranties and auxiliary services.

As a manager, Zoe could create the plan by himself and let the group come in later to execute it.

However, the main goal is to make a plan but to sell extended warranties and auxiliary services.

Hence, Zoe should consider having the group make this decision if "It will increase acceptance of the plan."

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when you love your job, the opportunity cost of working is _____ the opportunity cost if you dislike your job.

Answers

Answer:

When you love your job, the opportunity cost of working is lower than the opportunity cost if you dislike your job.

Explanation:

There is a relation between liking or not liking your job and the opportunity cost. When a worker is happy, they are more likely to work harder.

If the opportunity costs of working is the same as the opportunity cost if you dislike your job, then you would feel indifferent or ok with your job.

If the opportunity cost of working was higher than the opportunity cost if you dislike your job, then you would likely NOT love your job, but hate  or dislike your job and would want to find another job.

If the opportunity cost of working was lower than the opportunity cost if you dislike your job, then you would likely love or like your job.

the process of moving goods from the manufacturer into the hands of the consumers is generally referred to as

Answers

The process that entails how the goods from manufacturer get down to the consumer is distribution channel.

Distribution channel can be regarded as the methods that is been utilized by firm so that they can deliver their products or services to the end consumer.

This method  involves  network of intermediary businesses.

Theses intermediary are as follows, The manufacturers produce the goods moved to the wholesalers , then the wholesaler deliver to retailers.

Therefore, Distribution channel is necessary in business for the goods to reach final consumer.

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trevon, owner of a hotel in miami, is negotiating an executive lodging agreement with a major corporation that would keep his hotel at 70% occupancy at all times. to land the deal, trevon’s hotel needs lots of updates to its furnishings and amenities within the next six weeks. given the time constraints and the many decisions to be made, trevon will likely employ:

Answers

In order to make the right decisions that will ensure that his hotel is up to standard, Trevon should hire a Management Consultant.

The purpose of a management consultant is to:

Help a business make better decisions Improve efficiency Help with problem solving

Trevon needs an expert that is capable of making the best decisions to ensure that his hotel gets the necessary upgrades that it needs to appeal to the major corporation.

Management consultants will be able to do this as they are trained in helping companies become better. We can therefore conclude that Trevon needs a management consultant.

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unlimited liability as it relates to sole proprietorships is the risk of loss of assets beyond the assets of the business.

Answers

The risk of loss of assets beyond the assets of the business is referred to as unlimited liability. It is one of the characteristics of a sole proprietorship.

A sole proprietorship is a form of business organisation is which only person owns the business.  

Characteristics of a sole proprietorship

it is owned by one personthe business has unlimited liability. It means that the owner of the business is liable to the liabilities her business.  the business usually lacks continuity. this type of business usually ceases to exist when the owner dies.

Advantages of sole proprietorship

It is easy to establish.  The business owner has complete control over the business.  

Disadvantages of sole proprietorship

The lifespan of the business is often limited to the lifespan of its owner. The owner has an unlimited liability.

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Alicia is a local personal trainer and owns a fitness studio. She has invested significant time, money, and effort into building her studio’s reputation—as well as her own—in the community. Alicia starts hearing rumors of an owner of a larger fitness center posting derogatory comments about her online. Which tort law is the fitness center owner violating? Describe the law and give two examples of comments that could have been posted.

Answers

The tort that the owner of the fitness center is committing is known as Defamation in law.

Basically, tort refers to an action made by someone which gives rise to injury or harm to another person and such actions can be sued in court of law.

Defamation is part of tort in law and refer to the statement made by someone which harms another's party's reputation.

When the owner of the larger fitness center is posting derogatory comments about Alicia, the person is committing an offence of Expressed defamation.

Expressed defamation is one that is written and can be easily proved while Oral defamation is one that is been spoken.

Therefore, Alicia can sue the fitness owner for damages because she suffered loss of reputation because of the derogatory statement made by him.

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which u.s. currency bill was the largest ever printed for public use?

Answers

Answer:

The $10,000

Explanation:

"The $10,000 bill was the largest-ever printed denomination for the public, making its first appearance in 1918. The face of Salmon P. Chase, Abraham Lincoln's Secretary of the Treasury and Chief Justice of the Supreme Court, graced the front of this large bill."

The $10,000 bill was the largest-ever printed denomination for the public, making its first appearance in 1918. The face of Salmon P. Chase, Abraham Lincoln's Secretary of the Treasury and Chief Justice of the Supreme Court, graced the front of this large bill.

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Identify a true statement about export arrangements in the context of initial division structure. Multiple Choice If a company has a narrow product line, the export manager will head a separate department and often report directly to the president. Firms can reduce the risk and size of investment in establishing significant international operations using an export arrangement. Manufacturing firms with technologically advanced products usually avoid an export arrangement as a first choice. If a company has a broad product line, the export manager usually reports directly to the head of marketing and international operations are coordinated by this department.

Answers

A TRUE statement about export arrangements identified in the context of initial division structure is B. Firms can reduce the risk and size of investment in establishing significant international operations using an export arrangement.

Export arrangements help firms to manage their initial entrance into international trade.  A firm with a narrow product line does not require a separate department.

Firms with advanced technological products do not avoid export arrangements.  Firms with broad product lines do not have the export manager reporting to the Head of marketing because a separate export department is usually created to cater for international operations.

Thus, the true statement is B because export arrangements help firms to reduce risks.

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if the order quantity doubles but the flow rate remains constant, what happens to the sum of ordering and holding costs?

Answers

decreases by 50% I hope this helps

What is missing from this goal that is preventing it from being a SMART goal?
Goal: I want to be successful right after high school by getting a job.
This goal is NOT
O Specific
0 Measurable
O Attainable
O Relevant
O Timely

Answers

Timely, you can’t get a successful job that quick right after highschool

does anyone how how i can get a hold of my own FAFSA records if im under 18?

Answers

Answer:

Log onto the FASFA app, and if you know the info of the person you're looking for or just call Department of Education 1800 621 3115

Which of the following is NOT classified as a day-to-day or personal expense students may have?
O Car loan payments
O Laundry
O Cell phone bills
O Tuition

Answers

Answer:

Laundry

Explanation:Casually, it's not everyday that a student will have the need to pay to/use laundry machines/ products.

Answer:

laundry

Explanation:

you won't need to go and wash laundry every day, can even use a personal washing machine to do laundry

Erica is an administrative assistant for a company with more than three thousand employees. She needs to send insurance documents to each employee. Erica should _____. call each employee and ask them to pick up the documents at her desk use a digital ink pen to scan her handwritten notes from a meeting send an e-mail to all employees and attach the insurance documents create a presentation

Answers

Answer:

Send an e-mail to all employees

Explanation:

according to adam smith, the process that turns self-directed gain into social and economic benefits for all is the

Answers

Answer:invisible hands

Explanation:

Adam Smith asserts that the invisible hands is a process that turns self-directed gain into social and economic benefits for all.

Adam Smith invisible hands theory explains that there are unseen forces that move the free market economy.

In conclusion, the economist is the one that explains that the invisible hands is a process that turns self-directed gain into social and economic benefits for all.

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В семье Богдановых 4 человека. Папа зарабатывает
в месяц 18 тыс. руб., мама – 13 тыс. руб. Дочь учится в
школе, дедушка ежемесячно получает пенсию в размере
15 тыс. руб. Богдановы живут в квартире, которая стоит
1 млн руб. (налоговая ставка – 0,1%). У них есть ещё одна
квартира, которую семья сдаёт за 12 тыс. руб. в месяц. Каковы ежегодные налоговые выплаты семьи Богдановых?

Answers

Answer:

Tiene 4 +3 +453 es lqefiq3rgoawenwf

if a manufacturer ships merchandise to a retailer on consignment, the unsold merchandise should be included in the inventory of the

Answers

Answer: manufacturer
I hope this helps

If a manufacturer ships merchandise to a retailer on consignment, the unsold merchandise should be included in the inventory of the manufacturer.

What is the manufacturer?

A manufacturer is a person or business that turns raw materials into finished products using a variety of tools, machinery, and procedures, and then sells those products to consumers, wholesalers, distributors, retailers, or other manufacturers who can use them to make more complicated products.

The economy is enunciated be significantly influenced by manufacturers. Manufacturing has a long history dating back to antiquity. The usual manufacturer, however, was a single skilled artisan with helpers for many centuries. Each craftsperson guarded the methods of production and only taught apprentices. Only manual processes might be used for production.

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Using the amount of his current paycheck, Miguel created a series of financial goals and strategies. Which type of financial risk might this cause for him in the future?
✅income risk
- interest rate risk
- personal risk
- inflation risk

Answers

The Inflation risk is the financial risk might affect Miguel in the future.

The financial risk are risk that pose the possibility of losing one's money on an investment or business venture.

Here, it is obvious Miguel financial goals and strategies may involve investment with his Current paycheck say $1,000,000.

If he invest in a Money market now which pays 10%, Inflation will cause the purchasing power of the amount e invested to reduce in the future.

Thus, the Inflation risk, also called purchasing power risk is the financial risk that might affect Miguel financial goals and strategies.

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why does a surplus exist under a binding price floor?

Answers

Answer:

it makes the price so low that the quantity demanded exceeds the quantity supplied on the legal market.

why make an app an then only allow two questions

Answers

Answer:i dont know

Explanation:

Robertson Construction entered into a contract to construct a tunnel for a fixed price of $12,000,000. Robertson recognizes revenue over time according to percentage of completion. Here are some facts: In 2021: Cost incurred during the year is $3,000,000; Estimated cost to complete is $6,000,000 In 2022: Cost incurred during the year is $500,000; Estimated cost to complete is $6,500,000 In 2023: Cost incurred during the year is $6,500,000; Estimated cost to complete is $0. How much gross profit/loss would Robertson recognize in 2022

Answers

By measuring the gross revenue Robertson would recognize in 2022, the amount is $5,600,000.

To understand better, we have to begin with the year 2021, where we have the following:

Given that the % of completion = cost incurred till now ÷ total estimated cost;

We have => $3,000,000 ÷ ($3,000,000 + $6,000,000) = 33.33%

Hence, we have the final revenue in the year 2021 to be recognized as

=> $12,000,000 × 33.33% = $4,000,000.

By the year 2022, we have the following percentage completion.

=> ($5,000,000 + $3,000,000) ÷ ($3,000,000 + $5,000,000 + $2,000,000) = 80 percent.

Therefore, we have the total revenue to be recognized

=> $1,200,000 × 80% = $9,600,000

Then given that the Revenue already realized in 2021 = $4,000,000

Therefore, the revenue to be recognized in 2022

=> $9,600,000 - $4,000,000 = $5,600,000.

Hence, in this case, it is concluded that the gross revenue Robertson would recognize in 2022, the amount is $5,600,000.

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assume a linear demand curve. the demand curve intersects the price axis at $10. the price of the good is $2 and the quantity sold is 20. calculate the consumer surplus.

Answers

Answer:

80

Explanation:

You use the area of a triangle formula (1/2b*h). In this case the base would be 20 (quantity demanded) and the height would be 8 (10-2).

The consumer surplus is $80

The demand curve is a curve that shows the relationship between the quantity demanded and the price of a good. The demand curve is downward sloping because quantity demanded is negatively related to the price of the good.

Consumer surplus is the difference between the highest amount a consumer is willing to pay for the good and the price of the good. Looking at the attached image, the consumer surplus is represented by the triangle formed under the area of the demand curve.  

Consumer surplus can be determined by calculating the area of the triangle.

Area of a triangle = 0.5 x base x height

Base = 20 = quantity sold

Height = $10 - $2 = $8

Consumer surplus = 0.5 x 20 x $8 = $80

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what is one primary difference between determining cost of goods sold with a periodic system rather than a perpetual system?

Answers

Answer: With a periodic system, cost of goods sold is calculated only once at the end of the period. In contrast, with a perpetual system, cost of goods sold is recorded each time a sale is made.

Explanation:

what is the primary cause of failure for strategic initiatives?

Answers

Strategic initiatives are the ways through which a company translates its goals, objectives and visions into practice.

Raising of brand awareness, Launch of customer-facing retail outlets, Establishment of online channel for sales of products are examples of Strategic initiatives in a company.

The major reason for failure of strategic initiatives is the inability of decision-makers in a company to understand the relevance and how to measure progress.

Therefore, the primary cause of failure for strategic initiatives is ignorance about monitoring of progress.

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Answer:

Improper execution

Explanation:

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