The company's adjusted trial balance as follows includes the following accounts balances: Cash, $15,000; Equipment, $85,000; Accumulated Depreciation, $25,000; Accounts Payable, $10,000; Owner, Capital, $63,500; Owner, Withdrawals, $2,000; Sales, $56,000; Sales Returns and Allowances, $3,000; Sales Discounts, $1,500; Depreciation Expense, $25,000; and Salaries Expense, $23,000. All accounts have normal balances.Prepare the second closing entry by selecting the account names and entering dollar amounts in the debit and credit columns.

Answers

Answer 1

Answer:

Dr. Sales,                                   $56,000

Cr. Income Summary account $56,000

Dr. Income Summary account         $52,500

Cr. Sales Returns and Allowances, $3,000

Cr. Sales Discounts,                         $1,500

Cr. Depreciation Expense,              $25,000

Cr. Salaries Expense,                      $23,000.

Dr. Owner, Capital Account $2,000

Cr. Owner, Withdrawals,      $2,000

Explanation:

All the incomes and expenses accounts are closed in Income summary accounts.

Owners withdrawals balance is adjusted in the owners capital account.

The accounts of Assets, Equity and Liabilities are not closed because these are permanent accounts.

All the following accounts are permanent account

Cash, $15,000; Equipment, $85,000; Accumulated Depreciation, $25,000; Accounts Payable, $10,000; Owner, Capital, $63,500;  ;


Related Questions

At the end of 2011, the XYZ city deferred Br. 40,000 in property taxes, and that
amount is reflected in the beginning balance sheet is recognized as revenue for
2012.

Answers

At the end of 2011, the XYZ city deferred Br. 40,000 in property taxes, which means that the city did not recognize this amount as revenue in the 2011 financial statements. Instead, it carried it forward as a liability on the beginning balance sheet for 2012.

In 2012, the Br. 40,000 deferred property taxes are recognized as revenue, reflecting an increase in the city's financial resources. This recognition follows the accrual accounting principle, where revenue is recognized when it is earned, regardless of when the cash is received. By recognizing the deferred property taxes as revenue in 2012, the city accurately reflects its financial position and performance for that year.

The recognition of the deferred property taxes as revenue in 2012 will impact the city's income statement, increasing its revenue figure, and potentially affecting its net income or surplus. It also signifies the city's ability to generate resources from property taxes, which can contribute to funding public services and projects within the XYZ city.

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Leisure Lodge Corporation is expected to pay the following dividends over the next four years: $20.00, $ 15.00, $5.40 and $ 2.60 Afterwards, the company pledges to maintain a constant 6 percent growth rate in dividends foreverIf the required return the stock 17 percent, what is the current share price?

Answers

The current share price of the stock given its dividends is $46.18.

What is the current share price?

In order to determine the current share price, the first step is to determine the present value of the dividends.

Present value of the dividend in year 1 = 20 / 1.17 = $17.09

Present value of the dividend in year 2 = 15 / 1.17² = $10.96

Present value of the dividend in year 3 = 5.40 / 1.17³ = $3.37

Present value of the dividend in year 4 = 2.60 / 1.17^4 = $1.39

The next step is to determine the value of dividend growing at a constant rate =

Value of the dividend growing at a constant rate = [dividend in year 4 x (1 + growth rate)] / (required return - growth rate)

[2.60 x (1 + 0.06)] / (0.17 - 0.06)

= (2.60 x 1.06) / 0.11

= $25.05

Determine the present value = 25.05 / 1.17^4 = $13.37

The sum of the present values is the current share price = $17.09 + $10.96 + $3.37 + $1.39 + $13.37 = $46.18

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QUESTION 1 Explain to the owners of Miss K the concepts of the product line depth and product line breadth using practical examples relating to the 40Foods Distributors case study (2 marks will be awarded for the theoretical discussion and 2 marks for the practical examples relating to the case study

Answers

The concepts of the product line depth and product line breadth using practical examples relating to the 40Foods Distributors.

The product line refers to the number of products that a company offers within a particular product line

The product line depth and product line breadth are two important concepts in product management.

In the case of 40Foods Distributors, product line depth can be in the variety of products offered within each product line.

In the 40 Foods distributors, the product lines for dairy, bakery, meat, frozen foods, and other grocery items.

Therefore, the product line depth and product line breadth are two important concepts in product management.

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Organizations come across too many challenges or uncertainties about the human resource of the 21st century including globalization, the advent of the latest technology use, more and more innovations, economic and political instability, and ethical and ecological challenges.” With reference to the aforementioned statement, elaborate on how each of the above-mentioned factors related to dynamics changes can pose a challenge and a change in HRM practice. (15) Job analysis is considered as one of the critical processes that cannot be avoided during a recruitment process. Suggest some of the crucial factors that need to be considered when embarking on a job analysis process

Answers

HRM practises may be impacted by issues with globalization, technology, innovation, instability, ethics, and ecology. The work tasks, necessary skills, knowledge, and talents should all be taken into account while doing a job.

Why is human resource development so important to organisations' success in the twenty-first century?

The goal of human resource management in the twenty-first century is to increase an organisation's productivity by giving its personnel the best working conditions. When working in a good environment, the employees can give their best performance.

What role does human capital play as one of the key drivers of organisational success?

Human resources can be used to develop, strengthen, or change an organisation's culture. Pay, performance evaluation, training and development, hiring and onboarding, and reiterating the core principles.

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When you introduce your product to a focus group or a small geographical location, which activity does it signify?

Answers

It is a test market or beta test.

Blossom Company borrows $69,600 on July 1 from the bank by signing a $69,600, 10%, 1-year note payable.

(A) prepare the journal entry to record the proceeds of the note.

(B) Prepare the journal entry to record accrued interest at December 31, assuming adjusting entries are made only at the end of the year.

Blossom Company borrows $69,600 on July 1 from the bank by signing a $69,600, 10%, 1-year note payable.(A)

Answers

To record the proceeds of the note, the following journal entry is made:

Date | Account | Debit | Credit

July 1 | Cash | $69,600 |

          | Notes Payable | | $69,600

What is the journal entry to record the proceeds of the note?

The company received $69,600 in cash, which is recorded as a debit to the Cash account. The company incurred a liability by borrowing the money, which is recorded as a credit to the Notes Payable account.

To record accrued interest at December 31, the following journal entry is made:

Date | Account | Debit | Credit

December 31 | Interest Expense | $6,960 |

                      | Interest Payable | | $6,960

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a business owner wants to set up their company's video campaign to make sure people think about their brand in decision-making moments.

Answers

This objective is linked to the marketing objective of consideration.

What is video campaign?It really is as simple as it seems. A video campaign is a marketing effort that incorporates video.Video tends to stick in the mind longer than breathtaking images and eye-catching billboard advertisements, which are still common methods for marketing efforts. Did you need to wait for it? Indeed, we did. Compared to a billboard, it is a considerably more successful marketing tactic. even if the Cranberries are featured on the billboard.Your video campaign won't be a waste of time because of all the cutting-edge technology and social media channels we have today. Once you've created your campaign, you'll have a wide range of streaming options to pick from.

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With relevant references and examples discuss any five big ict innovations driving the digital economy of today, the challenges facing each and best ways to address each of the highlighted challenges so as to enhance global digitization goals of industry 4.0 and society 5.0

Answers

Key ICT innovations driving the digital economy today, including AI, IoT, Blockchain, Cloud Computing, and Big Data Analytics, face challenges such as privacy, cybersecurity, among others.

What are Big Innovations Driving the Digital Economy?

Five significant ICT innovations driving the digital economy today are Artificial Intelligence (AI), Internet of Things (IoT), Blockchain, Cloud Computing, and Big Data Analytics. The challenges they face include privacy concerns, cybersecurity threats, data ownership and governance issues, skills gap, and ethical considerations.

To address these challenges, implementing strong data protection regulations, investing in cybersecurity measures, establishing transparent data governance frameworks, promoting digital literacy and upskilling programs, and fostering ethical guidelines and regulations are crucial.

Collaborative efforts among governments, industries, and academia, along with international cooperation and standardization, are vital to enhancing global digitization goals and ensuring the responsible and inclusive advancement of Industry and Society.

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1. The level of prices and the value of money Suppose the price level reflects the number of doliars needed to buy a basket of goods containing one energy drink, one egg sandwich, and one bike rental. In year one, the basket costs
$15.00
. In year two, the price of the same basket is
$14.00
. From year one to year two, there is at an annual rate of In year one,
$120.00
will buy baskets, and in year two,
$120.00
will buy baskets. This example illustrates that, as the price level falls, the value of money Continue without saving

Answers

This means that the purchasing power of money increased by 100% from year one to year two.

The example illustrates that a decrease in the price level leads to an increase in the purchasing power of money. Mathematically, the rate of change in the purchasing power of money is equal to the inverse of the rate of change in the price level.

Thus, the rate of change in the purchasing power of money from year one to year two is equal to the inverse of the rate of change in the price level,

i.e., 1/($15.00–$14.00) = 1/1.00 = 100%.

This means that the purchasing power of money increased by 100% from year one to year two.

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An asset was sold during the year. The cost of the asset was $64,500. The asset was depreciated for four years, using the straight-line method at 10% per annum. The proceeds from the sale of this asset was $38,700. What was the gain or loss on the asset, if any?

Answers

Answer:

There was a loss on the asset of $3,618.45.

Explanation:

Given that an asset was sold during the year, and the cost of the asset was $ 64,500, after which the asset was depreciated for four years, using the straight-line method at 10% per annum, and finally the proceeds from the sale of this asset was $ 38,700, to determine what was the gain or loss on the asset, if any, the following calculation must be performed:

64,500 x 0.9 ^ 4 = X

42,318.45 = X

42,318.45 - 38,700 = X

3,618.45 = X

Thus, there was a loss on the asset of $ 3,618.45.

Answer:The company made no gain or loss on this sale

Explanation:

y
Which type of technology can help an athlete record the speed and force they have
on pucks or balls?

Answers

This technology, which was first employed in missile detection systems and then in weather analysis, is currently used in sports, where it records a large number of data points from the players, clubs, bats, sticks, pucks, and balls.

Technology is the application of knowledge to the attainment of realistic objectives in a repeatable manner. The term "technology" can also refer to the end results of such endeavours, encompassing both material instruments like machinery or utensils and immaterial ones like software.

Technology is the application of knowledge to the attainment of realistic objectives in a repeatable manner. The term "technology" can also refer to the end results of such endeavours, encompassing both material instruments like machinery or utensils and immaterial ones like software.

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A style guide, such as an MLA manual, will assist you in:
a
Correctly using grammar and punctuation
b
Helping you check your spelling
c
Formatting your references correctly
d
None of these are correct uses for style guide

Answers

Answer:

d

Explanation:

A style guide, such as an MLA manual, will assist you in "None of these are correct uses for style guide". The correct option is D.

A style guide like an MLA manual, serves multiple functions beyond grammar, punctuation, spelling or formatting references. It provides a structured framework for consistency in various communication aspects.

It guides writers in maintaining a uniform tone, style, and formatting across documents, ensuring clarity and professionalism.

The guidelines for layout, headings, citations, and visual elements, a style guide supports effective communication, fosters credibility, and aligns written materials with a specific purpose or brand identity.

Therefore, the correct option is D.

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A fast internationalization strategy for better generation has some associated risks. What are these risks?

Answers

Answer: Political risks eg High taxes

Economic risks eg fluctuation of exchange in currency.

Please see below for further explanation.

Explanation:

Internationalization strategy is the plan by an organization to expand beyond the domestic market to become globally visible in another country or countries market.

The risks associated Associated when a company, better generation tries to expand globally include

1.)Political risks:Political risk occurs when target countries policies change or fluctuates in such a way to negatively affect a business.

Some of the political risks include

---Instability in foreign country's governments due to corruption

---Government regulations eg High taxation, High tariff quotas

-----Trade barriers etc.

2.Economic Risks here refers to the conditions in the foreign nation's economy that affect a company's financial gains.

Some of the Economic risk include

-fluctuations in the value of currencies exchange.

-Inflation

-Quality of basic infrastructure in terms of electricity, transportation, accessible to water etc as the case may be.

--Labor and differences in wages.

which of the following most effectively provided a way to address sinclair's view about working conditions for people in industrial jobs?

Answers

The legislation passed during the Wilson presidency to authorize labor unions most successfully addressed Upton Sinclair's and others' concerns for industrial employees.

What exactly do we mean by "legislation"?Legislation is the action or outcome of a legislature, parliament, or comparable governing body enrolling, enacting, or promulgating laws. A legislative body's creation and enactment of laws through its legislative process is referred to as legislation. The legislative process comprises deliberating, amending, and passing legislation. It is concerned with the language used in the legislation to communicate the proposal's guiding assumptions, conclusions, and goals.Legislative powers are split up into three categories. lists by state, union, and concurrent. Although statutory laws are the fundamental structure of the law needed by the modern legal system. Additionally, the two sorts of the legislature are subordinate legislation and supreme legislation.

The complete question is:

Which of the following most effectively addressed the concerns that Upton Sinclair and others had for industrial workers?

(A) State legislation that limited the hours and working conditions for women and children

(B) President Theodore Roosevelt 's promise for an impartial set of rules, or "Square Deal," for labor

(C) Legislation passed during the Wilson presidency to legalize the organization of labor unions

(D) The formation of the Socialist Party under the leadership of Eugene Debs

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What are the issues when new product development is conducted at multiple sites? How can these issues be addressed?

Answers

Answer:

안녕 난 상관 없어 무료 포인트 고마워

Explanation:

머리가 제일?

Quiz Instructions
Question 1
5 pts
(02.01 LC)
Which of these factors is likely to have the greatest influence on purchases by consumers to choose a different
option than originally intended?
The price of a good or service
The price of alternatives or substitutes
Their own income
Their personal preferences

Answers

Answer:

The price of alternatives or substitutes

Reason: When there are alternatives or substitutes, this means that the consumer can then get better options.

Debt-to-equity ratio is:
Question 11 options:

calculated by dividing total liabilities by net worth.

calculated by dividing monthly debt payments by net monthly income.

determined by dividing your assets by liabilities.

rarely used by creditors in determining credit worthiness.

Answers

Answer: calculated by dividing total liabilities by net worth.

Explanation:

The debt to equity ratio is used to know how credit worthy a company is. This is gotten by dividing the total liability of a company by the equity of the shareholder.

It should be noted that the debt t equity ratio isn't gotten dividing your assets by liabilities. Therefore, based on the information given above, the answer is A.

Answer:

A

Explanation:

i took the quiz

Does anyone know quick ways to make money.

Answers

Answer:

Sell products online.

Sell used books on Amazon.

Start a Shopify ecommerce store.

Build a free-plus-shipping ecommerce sales funnel.

Do gigs on Fiverr.

Sell services on Upwork or 99Designs.

Build a high-ticket coaching or consulting funnel.

Answer:

robbing banks, helping out, picking pockets, digging under sofas for lost change, yard sales, bake sales, birthdays, helping out, selling things such as clothes you don't want or need, begging, advertizing, fund raisers, getting a summer job, etc.

For each statement about Direct Competition and Indirect Competition,
choose True or False.



Indirect Competition is a
business whose services are
different from yours but
satisfy the same need.


All Companies that sell
goods and services are
Indirect Competitors.


When your target audience
buys products from a
competitor instead from
you, that is Indirect
Competition.


Direct Competition is a
company that offers
the same thing you
offer.

1. True
2. False

For each statement about Direct Competition and Indirect Competition,choose True or False.Indirect Competition

Answers

Answer:

Explanation:

1) Indirect Competition is a business whose services are different from yours but satisfy the same need.

True

2) All Companies that sell goods and services are Indirect Competitors.

False

3) When your target audience buys products from a competitor instead from you, that is Indirect Competition.

False

4) Direct Competition is a company that offers the same thing you offer.

True

FRY-9C, FRY-14M, FRY-14Q, FRY-2052a, FP&A, CRR

What are these terms exactly mean? How do they work in business? What each term do?

Answers

The terms mentioned above are used in economics and have to do with finance.

What are FRY-9C, FRY-14M, and FRY-14Q?

In order to keep an eye on financial institutions in between on-site inspections, the FR Y-9C is the main analytical tool employed. The form, which is the most frequently requested and scrutinized report at the holding company level, contains more schedules than any other report in the FR Y-9 series.

The FR Y-14M report gathers monthly in-depth information on the loan portfolios of bank holding companies (BHCs), savings and loan holding companies (SLHCs), and intermediate holding companies (IHCs). Three loan- and portfolio-level collections, as well as one in-depth address matching collection, make up the report.

On a quarterly basis, the FR Y-14Q compiles comprehensive information on the various asset classes, capital components, and pre-provision net revenue (PPNR) categories of the bank holding companies (BHC), savings and loan holding companies (SLHCs), and intermediate holding companies (IHC).

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What is the purpose of consumer-advocacy groups?

to enforce consumer-protection regulations

to lobby the government for lower taxes

to promote the interest of consumers

to provide essential social services​

Answers

To promote the interest of consumers is the purpose of consumer-advocacy groups. Actions performed by people or organizations to advance and defend the interests of the buying public are referred to as consumer advocacy.

Most countries have implemented legislation to safeguard customers against unsafe or subpar craftsmanship, dishonest sales tactics, and deceptive advertising. Consumer advocacy, movements, or laws that protect consumers' interests by regulating the goods, services, practices, and expectations of producers, merchants, and advertising.

Protecting the interests of the consumer or buyer is the goal of consumer advocacy groups. These organizations use a variety of tactics to expose companies that engage in unfair business practices or sell dangerous goods. These tactics include litigation, letter-writing campaigns, boycotts, and public relations. The Consumer Federation of America, which has 220 member groups, is the biggest consumer advocacy organisation in the United States.

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*Will award brainliest if right!*

The day sheet is a(n):

a. chronological summary of all transactions posted to individual patient ledgers/accounts on a specific day

b. abstract of all recent claims filed on each patient

c. electronic permanent record of all financial transactions between the patient and the practice

d. computer-generated list of procedures, services, and suppljes with charges for each

Answers

Answer:

[A] chronological summary of all transactions posted to individual patient ledgers/accounts on a specific day

Explanation:

The manual daily accounts receivable journal is also known as the Day Sheet , and it is a chronological summary of all transactions posted to individual patient ledgers/accounts on a specific date.

Which of these is a correct statement regarding the fifo method of accounting for inventory? a) during periods of increasing inventory prices, the cost of goods sold will be higher. b) during periods of increasing inventory prices, lower taxable income will result. c) during periods of declining inventory prices, lower taxable income will result. d) during a period of declining inventory prices, higher taxable income will result.

Answers

The ending inventory under FIFO is determined by the most recent units bought. First In, First Out is referred to as FIFO in this context. This approach of inventory valuation prioritizes sales of the earliest-purchased items.

What does the accounting term "FIFO" mean?

First in, first out (FIFO) is an uncomplicated approach of inventory valuation based on the presumption that commodities acquired or created first are sold first. This suggests that, in theory, older inventory gets distributed to customers before new inventory.

Which statement about the FIFO inventory method is accurate?

The right response is d. Compared to the LIFO approach, the FIFO method will report a higher inventory balance and a lower cost of products sold in the event of rising prices.

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(5 points)
Willie's Hot Dogs had sales last year of $250,300 and a guest count of 76,079.
Sales this year were $280,750 with a guest count of 83,556.
What was Willie's guest count percentage variance?

Answers

Willie's guest count percentage variance is 9.82%.

How to calculate guest count percentage

To calculate the guest count percentage variance

Use the following formula:

Guest count percentage variance = [(current year guest count - prior year guest count) / prior year guest count] x 100%

Guest count percentage variance = [(83,556 - 76,079) / 76,079] x 100%

Guest count percentage variance = (7,477 / 76,079) x 100%

Guest count percentage variance = 0.0982 x 100%

Guest count percentage variance = 9.82%

Therefore, Willie's guest count percentage variance is 9.82%.

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You are waiting at a bus stop and the woman next to you is crying. You wonder why is so and make deduction that she cries because she just lost her handbag (external factor) because you do not see her having one with her. This theory is called​

Answers

Answer:

deduction theory cause your assumption was based on your instincts and it may not actually be the reason why the woman was crying

As financial controller at a manufacturing company, you have been advised by a colleague that the sales director is unlawfully declaring fuel benefits as the tax value is high. This has been creating higher profit margins and if declared those margins will go down. There is potential that this could push the company into insolvency, which would result in job losses for 300 employees. You have made the other directors aware of the situation but they have expressed a wish not to disclose the misleading tax bill. You are aware that by declaring this information to the tax authorities, as required by law, that the organization may have to declare insolvency and those 300 employees could lose their jobs. What would you do?​

Answers

Answer:

so many words i cant understand the of it

As the financial controller facing this ethical and legal dilemma, here's a course of action you could consider below:

What would you do?

Seek advice from legal professionals to fully understand the legal implications of not reporting the accurate tax information. This will help you make informed decisions based on the law and potential consequences.

Keep thorough records of your interactions, discussions, and decisions related to this matter. Documentation will be crucial if any legal or ethical issues arise later.

Engage in open and honest discussions with the other directors, emphasizing the potential legal and ethical ramifications of not reporting accurate tax information. Stress the importance of transparency and compliance with the law.

Explore alternative ways to address the issue without causing potential insolvency. This could include discussing options with tax authorities, seeking professional advice on managing tax liabilities, or making changes to the company's financial strategy.

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In what way do banks drive the United States economy?

A.)They provide loans that allow families and businesses to invest for the future.

B.)Their success or failure affects the availability of money.

C.)They set interest rates and payment policies.

D.)They determine who can invest in businesses.

Answers

Answer:

A.)They provide loans that allow families and businesses to invest for the future.

Explanation:

Exercise HORT ANSWER QUESTIONS Explain the meaning and need of office procedures. ​

Answers

Office procedures refer to the set of established methods or routines used to facilitate and standardize the work of an office. They help ensure that work is performed efficiently and accurately.

Some key benefits and needs of office procedures are:

1. Standardization: Office procedures help standardize how work is done and information is processed. This ensures consistency and quality across similar tasks. It prevents a haphazard and inconsistent approach.

2. Efficiency: When procedures are streamlined and optimized, the same work can be completed in less time with fewer mistakes. This improves productivity and reduces wasted effort.

3. Accuracy: Standard procedures act as a guide, ensuring that work is carried out accurately and completely every time. This minimizes errors and rework.

4. Coordination: Well-designed procedures integrate different tasks and parts of a process. They ensure good handoffs and coordination between people, departments and teams.

5. Compliance: Procedures help ensure compliance with laws, regulations, company policies, security standards, and best practices. They provide a framework for accountability.

6. Continuity: documented office procedures provide continuity even when key personnel leave the organization. New team members can get up to speed quickly by following the established procedures.

7. Control: Effective procedures give management more control over how work is performed. They can monitor compliance, evaluate efficiency, and make improvements to procedures over time based on feedback.

In summary, office procedures help create a standardized, efficient, accurate and controlled work environment. They facilitate high quality, continue and coordinated work while ensuring compliance. Well-designed procedures are essential for productivity, governance, and optimal performance.

7. Which of the following people is required to file taxes? *

Answers

Answer:

what you will be when grow up?

heiniken's macro-environment analysis

Answers

Answer:

Heineken is a big factory producing the beer drinsk

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