After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Magenta Delivery Services Co. Ellie Liu, Capital $8.366,300 Elle Liu, Drawing 70,000 Fees Eamed 1,644,500 Wages Expense 1,239,200 Rent Expense 109,400 Supplies Expense 26,800 Miscellaneous Exxpense 10,300 Required: Joumalize the two entries required to close the accounts. Refer to the chart of accounts for the exact wording of the account titles. CNOW joumals do not use lines for joumal explanations. Every line on a joumal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a oredit amount is entered.

After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Magenta Delivery Services Co. Ellie Liu, Capital $8.366,300 Elle Liu, Drawing 70,000 Fees Eamed 1,644,500 Wages Expense 1,239,200 Rent Expense 109,400 Supplies Expense 26,800 Miscellaneous Exxpense 10,300 Required: Joumalize the two entries required to close the accounts. Refer to the chart of accounts for the exact wording of the account titles. CNOW joumals do not use lines for joumal explanations. Every line on a joumal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a oredit amount is entered.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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1a.Compute the net present value of this investment.b. Should Beyer accept the investment?
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