3. Give the closing entries for the following accounts (balances in parentheses): Service Revenue ($5,000), Salaries Expense ($1,200), Income Summary (credit balance of $2,000), Withdrawals ($2,500).

Q: do you have the answer in a different format using equations

A: The present value is the present worth of the amount that will be paid or received in the future.

Q: Horizontal analysis is often referred to as the simplest approach of analyzing information. True…

A: Horozontal analysis also known as trend analysis is used to analyse and compare the data present in…

Q: What is the purpose of EDI?

A: Transparency in electronic data exchange: Expanding EDI enables suppliers to get access to a buyer's…

Q: Why are we going for commutative filters in DBMS?

A: Thais question explained about  why are we going for commutative filters in DBMS:

Q: will you please show solution without excel step by step

A: As per the given information: Initial salary is $40,000 Salary rise after first year to $44,200…

Q: briefly explain what is meant by breakven points

A: Cost accounting is the part of accounting that helps in determining the total cost of production. It…

Q: incorfrect please redo with a accurate answer

A: Molding FabricationMachine Hours $      2,500.00 $      1,500.00Fixed Manufacturing Overhead cost  $…

Q: I only get sub parts D) an

A: Depreciation is the process of reducing the value of the assets. It is a non-cash expense of the…

Q: What is the purpose of EDI?

A: Electronic data interchange: The expansion of EDI is Electronic Data Interchange and it allows the…

Q: Explain

A: LCNRV method means Lower of cost and net realizable value method.

Q: Describe the PW method?

A: There are different types of methods for comparing the worthiness of the projects. Some of the tem…

Q: Explain the drawbacks of IRR over MIRR with example?

A: Capital budgeting is part of investment decisions. Business firms consider capital budgeting in…

Q: Explain red herring

A: Red herring It is an introductory prospectus recorded with the Securities and Exchange Commission…

Q: Define NRV method.

A: Definition:   Product costs: The costs incurred to acquire the merchandise, ship the stock, prepare…

Q: answer is incorrect, pls recheck

A: Statement of Comprehensive Income: Comprehensive income is a measure of the changes in owners'…

Q: Which ways can a decision tree be presented to help lay out the sequence of decisions that can be…

A: Graphical representation:- In this format, nodes and branches are used to visually represent the…

Q: what is an example of data flow diagram, fixed asses system?

A: A data flow diagram (DFD) refers to a graphical representation of a flow of any information or…

Q: calculate the answer manually using the formula NOT excel.

A: Compound = Monthly = 12Annual Withdrawal Amount after retirement = w = $100,000Number of annual…

Q: Formula for put call parity?

A: Put call parity Put-Call parity defines the value of same class European put and call options. Put…

Q: Formulas are missing. which formulas did you use?  Please clarify

A: The formula used is that of Future value. Future value is based on time value of money concept.…

Q: What formula is being used if not using excel?

A: The concept of the time value of money determines that the worth of money gets depreciated over a…

Q: What is the meaning of incoterms

A: International chamber of commerce is the supervisor of international trading, and try to provide…

Q: Part C and Part D are incorrect. Please help.

A: Dividend per share = Dividend declared to common stockholders / Number of common shares outstanding…

Q: Can you make QBI more understandable? Are you able to describe the steps?

A: Qualified Business Income Deduction (QBID) It is  the final  deduction  to be made  before…

Q: solution cannot be understand, please show a clearer one.

A: Here, Required Amount (FV) is P2,500,000 Time Period (n) is 40 years Interest Rate (r) is 9%…

Q: Whatisthedifferencebetweensimpleinterestandcompoundinterest?

A: Interest: Interest is the amount of interest paid on the issue price of the notes by the issuer at…

Q: Suppose that both the direct material and rent costs are tied to the таниfаcturing of the equivalent…

A: Compute the average unit costs for direct materials assigned to 900,000 units as follows:

Q: Question D is incorrect. Can you check the answer

A: Here discuss about the details of the taxable income and income tax which are incurred with the tax…

Q: can you solve by ansewring the question'a in a fromual.

A: Data given: Costs  of house(Purchase price) =$250,000 Down payment = 2% of the purchase price.…

Q: Describe the steps taken to Switch from the DB method to the SL method?

A: Depreciation:- Depreciation is allocating the value of the fixed (long lived) assets over the period…

Q: can you show this problem using a two way data table?

A: Two way data states a way or the method of displaying the relative frequencies for the categorical…

Q: I Need Formulation

A: Part a: Contribution margin ratio for 2012=Net sales-Total variable costNet…

Q: oal Seek is limited to a single parameter. Group of answer choices True False

A: Goal seek works only on a single parameter but it can used on multiple cells. If there are multiple…

Q: How does the payback method reduce the information search?

A: A capital budgeting tool helps in determining the time needed to recover back the project investment…

Q: Can you make QBI easier to understand? Can you say what the steps are?

A: QBI means Qualified Business Income, it is a deduction available to eligible tax payers. Sec 199 A…

Q: Differentiate AIS from MIS

A: Accounting Information System: The system which helps to gather, store and process the accounting…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.