barnes company reports the following for its product for its first year of operations. direct materials $ 35 per unit direct labor $ 25 per unit variable overhead $ 10 per unit fixed overhead $ 48,000 per year variable selling and administrative expenses $ 3 per unit fixed selling and administrative expenses $ 20,000 per year compute total product cost per unit using absorption costing for the following production levels: (a) 2,000 units, (b) 2,400 units, and (c) 3,000 units.

Answers

Answer 1

The total product cost per unit using absorption costing for the following production levels are:

a) 2,000 units   $94b) 2,400 units   $90c) 3,000 units   $86.

What is the total product cost per unit under absorption costing?

The total product cost per unit under absorption costing is the sum of direct materials, direct labor, variable manufacturing overhead, and fixed manufacturing overhead per unit.

Direct materials per unit = $35

Direct labor per unit  =      $25

Variable overhead per unit =$10

Total variable manufacturing cost per unit = $70

Fixed manufacturing overhead per year = $ 48,000

Variable selling and administrative expenses per unit = $3

Fixed selling and administrative expenses = $20,000

                                                   2,000 units      2,400 units    3,000 units

Fixed costs per unit                        $24                $20                 $16

Variable manufacturing cost            70                  70                   70

Total product cost per unit            $94               $90                 $86

Thus, the total product cost per unit reduces as the production level increases but includes the fixed manufacturing cost under absorption costing.

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machinery was purchased on january 1 for $84,280.00. the machinery has an estimated life of seven years and an estimated salvage value of $9,000. double-declining-balance depreciation for the second year would be (round calculations to the nearest dollar): a.$18,200 b.$17,200 c.$16,200 d.$16,700

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Double-declining-balance depreciation for the second year would be $17,200

Cost=$84,280

Estimated life=7 years

Depreciation under double declining balance method=((cost-accumulated depreciation)/useful life)*2

Depreciation in the first year=((84280-0)/7)*2=$24,080

Depreciation in the second year=((84280-24080)/7)*2=$17,200

The answer is $17,200

Correct Option is B.

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question 5suppose that as a project manager you’re running a kick-off meeting. during the meeting, you spend about ten minutes to set expectations for the team and the next steps they should take. what agenda item does this represent?

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The agenda item does in the meeting represent what comes next.

A kickoff meeting can be described as the first meeting with the project team and with or without the client of the project. Kickoff meeting would follow definition of the base elements for  other project planning activities and the project.

There are several steps for successful kickoff meeting, such as:

Create an Agenda (and Stick to it)Run Through Any Key DatesLeave Time for QuestionsWrap Up With Action ItemsExplain Roles and Basic ResponsibilitiesGive an Overview of How You'll Accomplish the WorkFollow Up With an Email

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Which of the following is an example of a bond being traded on the secondary market? (1 point)
O an investor purchases a bond from a corporation
O an investor sells a bond to another investor
O an investor purchases a bond from the U.S. Treasury
O an investor purchases a bond directly from a municipality

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Answer: an the investor sells a bond to another investor. 

Explanation: just took the test

if the premier corporation has an roe of 14 percent and a payout ratio of 16 percent, what is its sustainable growth rate? (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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If the leading corporation has a retention ratio of 16 percent and a return on equity of 14 percent, its sustainable growth rate is 11.76%.

Retention Ratio = 1- Payout ratio

Retention Ratio =  1-16% =  1-0.16 = 0.84 = 84%

sustainable Growth Rate =  return on Equity  * retention ratio

= 14.00 *0.84 = 11.76%

The percentage of earnings retained by the company is known as the retention ratio. The retention ratio is the portion of equity net income that is kept in-house rather than distributed as dividends in order to expand the company. It is the polar opposite of the payout ratio, which computes the proportion of profits distributed to shareholders in the form of dividends. Another name for the retention ratio is the plowback ratio.

The retention ratio aids investors in determining how much cash a company is holding back to reinvest in its operations. Earnings growth equity may be negatively impacted if a corporation distributes all of its retained earnings as dividends or does not reinvest them in the company.

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at 47 units of labor, a firm finds that average product of labor equals 39.6 and marginal product of labor equals 32.9. we can conclude that the average product curve at 47 units of labor is: upward-sloping. horizontal. vertical. downward-sloping.

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We can conclude that the average product curve at 47 units of labor is downward sloping.

Option D is correct.

What is marginal product with example?

Marginal product is referred to as the change in output observed  with per unit change of an input while putting  all other factors of input constant. Example: Labour, materials etc.

What is product curve?

Product curves shows the relationship between output and the quantity of a factor; they  have the factor quantity on the horizontal axis. Cost curves shows how costs vary with output and  have output on the horizontal axis.

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a company asks aurora to work on a mobile device that belongs to a colleague. after her evaluation, she narrows down the list of things to consider doing. they include uninstalling some apps, updating the os, and possibly performing a factory reset. what would have prompted her to consider these actions? group of answer choices

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The factor that would make Aurora to be able to consider all of the factors that have been listed here as she is to work on the device would be the knowledge of the different factors that may cause a device to malfunction.

What is the reason why the phone may have issues?

The reason why a phone may have issues may be different based on the types of issues that the phone has been listed to be having.

The OS of the phone is the operating system of that phone. It is what the phone is able to function by.

Given the type of issue that is the problem, the factory reset would be necessary. This would help to wipe the phone and may it empty in a way that it would come in the same way as it was when it was bought.

Uninstalling the app may cause the storage to be free and also help to remove a malicious application as well from the phone.

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joe's company designs and sells water pumps. joe distributes the pumps through mark's company, beaver pelt distributors, inc. mark receives an order for a pump from disney to install on the it's a small world ride. mark doesn't have the exact pump that disney needs, but he decides to modify one of joe's pumps to meet disney's need. the pump ultimately arrives and is faulty because the modification made by mark damaged the pump. the pump failure causes $100,000 in damages in the ride. is joe liable for those damages?

Answers

The defect occurred after the pump left Joe's possession.

Dependent territory is a region of land over which another nation exercises sovereignty but over which it does not have the full rights to participate in its governing structures.

The offense of drug possession

Ownership

Physical possessions that belong to a person but are not their real estate

Exclusive practical control over anything is referred to as possession (law) when discussing the legal ramifications of that control.

A physical, functional, or aesthetic characteristic of a good or service that shows that it falls short of one of the expected standards is called a fault.

Examples

An angular defect is when some angles do not add up to the expected 360° or 180°, even though they should on the Euclidean plane.

birth defect: an affliction that exists from birth

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As economies move toward greater privatization, there is a greater likelihood of facing the phenomenon that japan faced due to the stock market collapse. Privatization transfers assets.

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As economies move toward greater privatization, there is a greater likelihood of facing the phenomenon that Japan faced due to the stock market collapse. Privatization transfers assets from the state to private owners.

The shift toward a market-primarily based monetary device often entails a number of steps: deregulation, privatization, and creation of a felony machine to guard page four belongings rights.

Being first typically allows a corporation to set up a robust emblem reputation and customer loyalty before competitors input the arena. other blessings include extra time to ideal its product or service and placing the market price for the new object.

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in a blank , members of the channel pursue their own goals and maximize their own profits, regardless of the effect on other channel members. multiple choice question. corporate vertical marketing system conventional marketing channel strategic relationship jit system

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Marketing channel pursues their own goals and maximizes their own profits, regardless of the effect on other channel members.

A marketing channel is the people, corporations, and sports that make goods and offerings available to be used by purchasers. It transfers the ownership of products from the point of manufacturing to the factor of consumption.

Extensively, the four foremost varieties of advertising and marketing channels are paid, free, virtual, and conventional channels. several marketing channels, which include social media, influencers, and paid ads, fall under these main advertising channels.

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4. (12) negate the following quantified statements (give answers in english): a. no dogs are viscious. b. some ski resorts also offer mountain biking.

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By negating the following quantified statements option a will be false and option b will be true.

Negation is when a sentence is nullified by adding a negative word. Quantifiers refer to words used in sentences to give information about quantities of something.

Negation of the quantified statements is from the left to right side of the sentence. In option a, the sentence is already negative but it is a false statement. Therefore, the statement will be negated as 'not all dogs are vicious.

In option b, the sentence will be negated as 'not all ski resorts offer mountain biking. It is a true statement so the meaning remains unchanged even after negation.

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A curve representing groupings of customers who adopt new products over a period of time illustrates the ______.

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A curve depicting groupings of consumers who embrace new items over time exemplifies the diffusion of innovation.

What is the meaning of diffusion?

The net flow of material from a location of high density to a region of small quantity caused by random mobility of molecules is termed as diffusion.

The product diffusion curve hypothesis describes how individuals and big organizations adapt to new ideas and inventions. Therefore, it can be concluded that diffusion of innovation is the correct term.

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_1. Scientific management’s focus was based on what?
a. Improving efficiency
b. Using knowledge, fairness, and logical rules and procedures.
c. On how and what managers should do in their jobs
d. The employee’s humanistic needs

Answers

Answer:

Explanation:

Scientific management is a theory of management that analyzes and synthesizes workflows. Its main objective is improving economic efficiency, especially labor productivity. It was one of the earliest attempts to apply science to the engineering of processes in management.

What is the value of a stock that you believe will sell in three years for $81 a share and will pay $3. 00 in dividends every year for the three-year period assuming your required return is 10%?.

Answers

A stock that you think will go for $81 per share in three years and will pay $3.00 in dividends annually for that time period, providing your needed return is 10%, is worth $68.32.

N = 3

I = 10

PV = ? = $68.32

PMT = 3

FV = 81

A stock, usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing dividends company. Shares, also known as units of stock, entitle its owners to a share of the company's assets and income in proportion to the number of shares they possess.

Most individual investors' portfolios are built on stocks, which are mostly bought and sold on stock exchanges. Government standards designed dividends to shield investors from dishonest tactics must be followed during stock trades.

In order to raise money to run their operations, corporations issue stock, and the holder of that shares, known as a shareholder, may be entitled to some of the company's assets and earnings.

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yasmin is an accountant and she joined the american accounting society because that group keeps her skills updated as an accountant. what is her motive?

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Yasmin is an accountant and she joined the american accounting society because that group keeps her skills updated as an accountant, her motive is personal incentives.

What is the main role of accountants in society?

Accountancy professionals in business assists with corporate strategy, provide advice and aid  businesses to minimize costs, improve their top line and mitigate risks. As a board directors, professional accountants in business directs  the interest of the owners of the company .

What are the main duties and responsibilities of an accountant?

Ensuring the correctness of financial documents, as well as their compliance with relevant laws and regulations. Preparing and maintaining necessary financial reports. Organising  tax returns and ensuring that taxes are paid properly and on time.

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which of the following functions as both a store of value and a medium of exchange? a. cash but not stocks b. stocks but not cash c. cash and stocks d. neither cash nor stocks

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Cash serves as a value store and a medium of exchange, but not stocks. A security that denotes ownership of a portion of the issuing company is referred to as a stock.

A security that denotes ownership of a portion of the issuing company is referred to as a stock, also known as equity. Shares, which are units of stock, entitle its owners to a percentage of the company's assets and income based on how many shares they possess.

The cornerstone of many individual investors' portfolios, stocks are exchange mostly bought and sold on stock exchanges. Government rules aimed at shielding investors from dishonest tactics must be followed when trading stocks.

Due to the legal separation of corporate property from shareholder property, both the corporation and the shareholder are subject to less liability. The assets of a shareholder are not at risk if the corporation stocks declares bankruptcy, but a judge may order the sale of all of its assets. Even if your shares' value may have decreased, the court cannot exchange order you to sell them. The company's assets cannot be sold to satisfy creditors if a key stakeholder declares bankruptcy.

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Janyce is the human resource manager at a manufacturing company. Her counterparts are the managers of​ engineering, accounting,​ manufacturing, and purchasing. The firm is organized to create efficiencies by grouping people with common knowledge and skills. What term best describes this​ departmentalization?.

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Janyce is the human resource manager at a manufacturing company. Her counterparts are the managers of​ engineering, accounting,​ manufacturing, and purchasing. The firm is organized to create efficiencies by grouping people with common knowledge and skills. Functional departmentalization describes this​ departmentalization.

Manufacturing is the making of products by means of hand or via device that upon of entirety the business sells to a consumer. objects utilized in manufacture may be uncooked substances or element parts of a larger product. the manufacturing normally takes place on a huge-scale manufacturing line of machinery and professional exertions.

A manufacturer is a person or organisation that produces finished items from raw substances with the aid of the use of numerous equipment, device, and approaches, and then sells the products to consumers, wholesalers, vendors, outlets, or to other manufacturers for the manufacturing of extra complicated goods.

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You want to take earnings from your part-time job to pay for a new laptop. Your monthly take-home pay is $500 and the laptop costs $1,200. What percentage of your pay do you need to save in order to buy the laptop in 12 months?.

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You want to use the money from your side job to buy a new laptop. The laptop costs $1,200, and your monthly take-home salary is $500.. To purchase a laptop in a year, you must save aside 20 percent of your pay.

An salary is the amount of money that they are given each month by their employer, particularly if they work in an occupation like education, law, or medical. A large remuneration was given to the attorney. All civil officials will now receive higher salary, according to the administration. Your base pay is what you receive before any perks or deductions. Once one has reached a specific income level, they may receive dividends from shares or overtime salary. piece of work, specifically a specified activity carried out as part of one's daily activities or for a set fee is called job. He was given the task of mowing the grass by her. an editorial position, whether full- or part-time: She was looking for job.

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you are presented with an investment opportunity. for $10,000 today, the investment will return $15,000 in 5 years. if a comparable opportunity returns 8%, what is the npv of this investment rounded to the nearest dollar?

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The formula to find net present value (NPV) is present value of expected cash flow - today's value of invested cash = 15000 - 10000 = 5000

The worth of all potential expected cash flows, both positive and negative, discounted to the present, is known as net present value (NPV).

The concept of net present value (NPV) is used to calculate the current value of all projected future cash flows, including the initial capital expenditure. In capital budgeting, it is frequently used.

I simple words Net present value, as its name implies, is nothing more than the future value of cash inflows and outflows after discounting them at a predetermined rate.

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What is the average correlation between a randomly selected pair of u. S. Stocks?.

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The average correlation between a randomly selected pair of u. S. Stocks between 0 and 1.

The future performance of two equities in relation to one another can be predicted using covariance formulas. Covariance can be used to analyze historical returns to discover if stock returns often move in unison or opposition to one another.

Whether two equities have a high or low covariance may not be an important indicator by itself. Covariance can show how stocks move in tandem, but to assess the strength of the association.

When creating effective investment portfolios, modern portfolio theory (MPT) uses covariance. Finding assets with a low or negative correlation is important for achieving the best risk-return trade-off.

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adam's sports store has a contribution margin ratio of 55% and has already passed the break-even point for the year. if adam's generates additional sales of $250,000 by year-end, net operating income will increase by

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Adam's sports store has a contribution margin ratio of 55% and has already passed the break-even point for the year. if adam's generates additional sales of $250,000 by year-end, net operating income will increase by 137,500 (250,000 x 55%).

Income is activities associated with selling or the number of goods bought in a given focused term. The transport of a provider for a value is likewise considered a sale. The seller, or the issuer of the products or offerings, completes a sale in response to an acquisition, appropriation, requisition, or an instantaneous interaction with the buyer at the factor of sale. There may be a passing of title (property or ownership) of the item, and the settlement of a rate, wherein settlement is reached on a fee for which a switch of possession of the item will occur. The seller, no longer the client, typically executes the sale and it can be finished previous to the obligation of payment. Inside the case of oblique interaction, a person who sells goods or carrier on behalf of the proprietor is called a salesperson or saleswoman or salesperson, but this frequently refers to someone selling items in a shop/shop, wherein case other terms are also not unusual, which includes salesperson, keep assistant, and retail clerk.

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the acmeville metropolitan bus service currently charges $0.99 for an all-day ticket, and has an average of 472 riders a day. the bus company is not earning a profit, but according to their contract with the city, they cannot cut the number of buses on the road. they must therefore find a way to increase revenues. the bus company is considering increasing the ticket price to $ 1.1 . the marketing department's studies indicate this price increase would reduce usage to 195 riders per day.

Answers

The change in price elasticity of demand will be 5.22%, given the increased price and change in demand.

Percentage change in quantity demanded = [ 195-472/472] *100

                                                                        = 58% (absolute value ignoring negative sign)

Percentage change in price = [1.1-0.99/0.99] *100

                                              = 11.11 %

Price elasticity of demand = Percentage change in quantity demanded /

                                               Percentage change in price

                                            =58/11.11

                                            = 5.22%

Price elasticity of demand: The relationship between the fluctuation in a product's quantity supplied and the proportion change in price is known as price elasticity of demand. It assists analysts comprehend how both demand and supply shift in response to shifts in a product and service. Basically, it helps in understanding how sensitive the demand of a product is in comparison to change in its price. Some the fluctuation in demand could be more and sometime less as compared to change in price.

The complete question is here:

The Acmeville Metropolitan Bus Service currently charges $0.99 for an all-day ticket and is used by an average of 623 riders a day. The bus company is not earning a profit, but according to their contract with the city, they cannot cut the number of buses on the road. They must therefore find a way to increase revenues. The bus company is considering increasing the ticket price to $1.21. The marketing department's studies indicate this price increase would reduce usage to 473 riders per day.

Calculate the price elasticity of demand.

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an effective, logical business message includes which of the following characteristics? (choose every correct answer.) multiple select question. applicability of research supported facts broad generalizations research-backed ideas

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A logical business message should have research-backed ideas, applicability of research, supported facts.

Effective messages have a specific goal to educate, convince, or work with the target audience. The message should be created taking into account the level of knowledge, possible response, and relationship with the composer of the audience. Unless there are several concerns that need to be addressed jointly, it is often advisable to stick to one major point per message. Having a clear aim in mind when communicating in business will also help choose the best channel for getting the word through.

Selecting the proper channel to deliver the message is also crucial. Large audiences can be reached by email, however smaller groups are better served by face-to-face communication.

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in contrast, the lincoln company is closely held and, therefore, cannot generate reliable inputs with which to apply the capm method to estimate its cost of internal equity (retained earnings). however, its management knows that its outstanding bonds are currently yielding 8.42%, and the firm’s analysts estimate that the risk premium of its stocks over its bonds is currently 1.48%. as result, lincoln’s cost of internal equity (r

Answers

Outstanding bonds are currently yielding 8.42%, and the firm’s analysts estimate that the risk premium of its stocks over its bonds is currently 1.48%. as result, lincoln’s cost of internal equity = 9.9

Cost of equity = Bond's yield + risk premium

Internal equity, in its simplest form, refers to how employees in a firm who hold comparable roles or possess comparable skill sets are paid, whether through salaries or other perks associated with the job. Internal equity, then, is about equal pay for equal work.

Stock in the context of finance refers to the shares into which ownership of a corporation or company is divided.

[1] (In particular, the term "stocks" is also used to describe shares in American English.) A single share of stocks represents a portion of the corporation's ownership in relation to the total number of shares.

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the new economic pattern that developed when automation disiplaced scarce home produced goods the poor could afford the necessities and small luxuries of life.

Answers

The new economic pattern that came about when the poor were able to afford the necessities and small luxuries that life provided was the development of the Middle Class.

Find out more below.

How did the Middle Class develop?

The Middle Class came about as a result of several reasons such as the increased incomes that came with improved production techniques, and the accessibility of goods and services that were previously reserved for the elite and wealth in society.

Thanks to the Industrial Revolution, automation and improved factory production led to goods that used to be scarce such as proper clothing, being available in larger quantities.

As a result, the poorer people were able to get jobs in these factories and also spend on these goods which led to a new class being created between the elite and the poor - the Middle Class.

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people are less upset than when they miss getting an early payment discount than when they are asked to bear a late payment surcharge. this best illustrates the importance of

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In a situation when people get less upset than when they miss by getting an early payment discount than when they are asked to bear a late payment surcharge, this best illustrates the importance of framing.

What do we understand by framing?

In psychology, the term "framing" is known as framing effect, which is a cognitive bias where people decide on options based on whether the options are presented with positive or negative connotations such as either a loss or as a gain.

Most individuals tend to avoid a risk when the positive frame is presented but seek risks when a negative frame is presented So, in this case, the gain & loss are defined in the scenario as descriptions of outcomes such as when lives lost or saved, disease patients treated and not treated etc.

The concept of framing also helps to develop an understanding of frame analysis within social movements and also in the formation of political opinion where spin plays a large role in political opinion polls that are framed to encourage a response beneficial to the organization that has commissioned the poll.

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acme corp. has a promotion strategy that involves promoting its widgets through personal selling and sales promotion to the wholesalers that handle its products. which channel promotion policy is acme using?

Answers

Channel promotion policy is acme using push policy.

What is policy?
A deliberate set of rules designed to direct behaviour and produce logical results is called a policy. A policy is a declaration of intent that is carried out through a procedure as well as protocol. Typically, a governance body within an organisation adopts policies. Both objective and subjective decision-making can benefit from policies. Policies in use in subjective decision-making typically assist senior management with choices that have to be based on the relative merits of a variety of factors, and as a result, are frequently challenging to test objectively. An example of a policy used in this manner is the work-life balance policy. Additionally, policies are present in governments and other institutions in the form of laws, rules, guidelines, administrative practises, rewards, and unofficial customs. Allocations of resources frequently reflect political choices. A policy is a blueprint for the repetitive and routine organisational activities.

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the net investment income tax is imposed on the of (a) net investment income or (b) the excess of agi over a specific level depending on filing status.

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Depending on filing status, either (a) net investment income or (b) the excess of adjusted AGI over a certain level are subject to the net investment income tax.

Prior to taxes, investment assets AGI such as bonds, equities, mutual funds, loans, and other investments generate income known as net investment income (NII) (less related expenses). Whether net investment income consists of dividends, interest, or capital gains will affect the individual tax rate.

Investors realize a gain or loss when AGI they sell assets from their portfolios; the outcome depends on the sale's proceeds. Capital gains from the sale of stocks, interest income from fixed-income investments, dividends paid to shareholders, rental income from real estate, some annuity payments, royalties, and other types of income are examples of realized profits. Net investment income is the sum of any realized gains (before taxes) less any trade commissions or other costs (NII). Whether the asset was sold for a capital gain or loss would determine whether NII was positive or negative.

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The complete question is

The net investment income tax is imposed on the of__________ (a) net investment income or (b) the excess of __________ AGI over a specific level depending on filing status.

you bid for a coin. you're confident that the price of the coin is between 0 and 100, if your bid is greater than the price, you win and sell it to your friend at the price of 1.5 times price. what's your bid to max your profit?

Answers

The best you can do is eliminate the possibility of losing money by bidding 0 and ensuring you lose the auction as  this is a quadratic function that maximizes when Bid = 0.

Let us suppose P Uniform (0, 100). Now our answer is argmax_B E[max(0, 1.5P - B)] = argmax_B E[0 | 1.5P - B 0] * Pr(1.5P - B > 0).

It is simple to calculate E[0 | 1.5P - B 0] = (150 - B)/150 = 1 - B/150, Pr(1.5P - B 0]. It might be beneficial to reconfigure this condition and solve it graphically. This can be rewritten as E[1.5P - B | P > 2B/3]. This expectation occurs graphically at the midpoint of 100 and 2B/3, which is 50 + B/3.

As a result, we're looking for argmax B 0 * B/150 + (50 + B/3) * (1 - B/150). This is a quadratic function that maximizes when B = 0.

We have two options: either you lose the auction and receive nothing, or you win the auction and lose a quarter of your bid. The best you can do is eliminate the possibility of losing money by bidding 0 and ensuring you lose the auction.

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rental activitiesblank . multiple choice question. are always classified as business activities and the expenses are deducted for agi may be classified as investment activities or business activities, but the expenses are always deducted for agi may be classified as investment activities or business activities, but the expenses are always deducted from agi are always classified as investment activities and the expenses are deducted from agi

Answers

The rental activities are always classified as business activities and the expenses are deducted for agi may be classified as investment activities or business activities.

What business activities?

The business activities can be described as the activities that is needed to be performed so that the goals as well as the objectives of making profit can be achieved in the organization.

It should be noted the rental activities can as well be described as a business activities which can be one of the expenses of the company so far the rental service  brought about values to the company.

Therefore option A is correct.

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after the accounts have been adjusted at april 30, the end of the fiscal year, the following balances were taken from the ledger of twin trees landscaping co.:

Answers

The account summary is as follows

Dr. Fees had a salary of 279,100.A breakdown of the revenue generated by Cr: 279,100The Honorable Dr. Oscar Killingsworth, Capital 5,500A summary of the income from Cr: 5,500

This is further explained below.

What is an account?

Generally, An account is a record that contains a summary of the relevant transactions that are associated with a certain head.

It not only tracks the monetary value of the transactions but also the consequences and outcomes of such transactions.

For instance, a cash account will detail every cash that has been received in addition to cash that has been paid out.

(Accounting: Statements of Financial Position) A thorough record of all the money that a person or company has received and spent is kept in what is known as an account.

In the method of accounting known as double entry, each debit and credit that is recorded in one account is likewise recorded in another account as either a credit or a debit.

In conclusion,

Comprehensive income report for Dr. 284,600

Wages Expense 221,600 ------Cr

Rent Expense 43,800  ------Cr

Supplies Expense 9,000 ------Cr

Miscellaneous Expense 10,200 ------Cr

Dr. Fees had a salary of 279,100.

A breakdown of the revenue generated by Cr: 279,100

The Honorable Dr. Oscar Killingsworth, Capital 5,500

A summary of the income from Cr: 5,500

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CQ

Closing Entries After the accounts have been adjusted at April 30, the end of the fiscal year, the following balances were taken from the ledger of Twin Trees Landscaping Co.: Oscar Killingsworth, Capital $503,900 Oscar Killingsworth, Drawing 8,200 Fees Earned 279,100 Wages Expense 221,600 Rent Expense 43,800 Supplies Expense 9,000 Miscellaneous Expense 10,200 Journalize the two entries required to close the accounts. If an amount box does not require an entry, leave it blank.

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