BUSINESS HIGH SCHOOL

At the end of the accounting cycle, net income will be closed intoa. Treasury Stock.
b. Paid-In Capital.
c. Cash.
d. Retained Earnings

Answers

Answer 1
Answer:

D. Retained Earnings. Net income is a nominal or temporary account. All nominal income or expense accounts must be closed at every end of the accounting cycle using the Income Summary account. The Income Summary account is then closed into Retained Earnings. 

Related Questions

Suppose you observe a spot exchange rate of $1.0500/€. If interest rates are 5% APR in the U.S. and 3% APR in the euro zone, what is the no-arbitrage 1-year forward rate? Multiple Choice €1.0300/$ $1.0300/€ €1.0704/$ $1.0704/€
Church related schools are defined as:a. private c. parochial b. public d. parish
A match is an example of something that stores what?
Your self-concept, personality type, and learning styles all affect your _____.
Which of these is most important to success in your job? A. Socializing with your coworkers B. Showing up and being on time C. Spending quality time with your supervisor D. Keeping busy

A mortgage company charges borrowers a 1.5% loan origination fee. A house is purchased for $210,000, with a $50,000 down payment. The buyer applies for a mortgage to cover the balance. What will the mortgage company charge as a fee if the asking price of the house was $235,000? a. $2,400 b. $3,150 c. $3,525 d. $3,750

Answers

Answer:

C. 3525

Explanation:

To calculate the mortgage company's fee, you first need to determine the mortgage amount, and then apply the 1.5% loan origination fee.

The purchase price of the house is $235,000.

The buyer makes a $50,000 down payment.

To find the mortgage amount:

Mortgage Amount = Purchase Price - Down Payment

Mortgage Amount = $235,000 - $50,000

Mortgage Amount = $185,000

Now, you can calculate the loan origination fee:

Loan Origination Fee = (Loan Amount) x (Loan Origination Fee Rate)

Loan Origination Fee = $185,000 x (1.5/100)

Loan Origination Fee = $185,000 x 0.015

Loan Origination Fee = $2,775

So, the mortgage company will charge a loan origination fee of $2,775.

The closest answer choice to this amount is:

c. $3,525

However, this does not match the calculated amount of $2,775. It's possible that there is an error in the answer choices provided. The correct answer based on the calculation should be $2,775, not one of the answer choices provided.

In order to make sure that audiences can correctly identify your mood and attitude during speech, it is necessary to make sure you have correct

Answers

The correct answer for the question that is being presented above is this one: "c. Intonation." In order to make sure that audiences can correctly identify your mood and attitude during speech, it is necessary to make sure you have correct intonation.
Here are the following choices:
a. Enunciation
b. Pronunciation
c. Intonation
d. Elucidation

Answer:c

Explanation:

The people within an organization who are responsible for supervising the organization's use of its resources are known as

Answers

As Managers

In order to maintain the productivity and efficiency , the company need Managers supervise all company's resources from the product resources to human resources.

These managers will report directly to the executive directors

You are better off consuming or producing an additional good or service if _____ .

Answers

If the marginal benefit is greater than the marginal cost

The marginal benefit is the amount of satisfaction that you receive when you consume an additional goods or service, meanwhile the marginal cost is the amount of sacrifice that you need to do in order to get that additional good or service.

to put it simply, You better off consuming that additional product if the satisfaction that you get is worth the sacrifice that you make

the marginal benefit is greater than the marginal cost

Joanie takes a $6000 loan to pay for her car. The annual interest rate on the loan is $12%. She makes no payments for 4 years, but has to pay back all the money she owes at the end of 4 years. How much more money will she owe if the interest compounds quarterly than if the interest compounds annually?

Answers

Answer:

The amount due under quarterly compounding is higher by =$ 187.12

Explanation:

To determine the amount  money  by which the quarterly compunding is greater, we would compare the total sum due under the two compounding options.

This is done below:

Quarterly compounding

FV = A × (1+r)^n

PV - principal  amount owed = 6,000

r- quarterly interest rate = 12%/4 = 3% per three month

n - number of quarters in 4 years = 4× 4 = 16

Loan amount due with interest after 4 years

= 6,000× (1.03)^(48) = 9628.23

Annual compounding

PV - principal  amount owed = 6,000

r- annual interest rate = 12% =

n - number of  years = 4  

Loan amount due =6,000× (1.12)^(4) =  9,441.12

The amount due under quarterly compounding is higher by

= 9628.23 - 9,441.12

=$ 187.12

You produce T-shirts, and it costs $3 to make each shirt. If you choose a price of $5 for each shirt, then you will _____.lose money
earn a profit
just cover your costs

Answers

The answer is earn a profit.
You produce a T-shirt and its cost is 3 dollars to be able to make one.
Now, you choose a price of 5 dollars for each shirt. Therefore:
5 dollars price - 3 dollars capital = 2 dollars profit.
SO, you have earned profit
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Suppose the real rate is 2.5 percent and the inflation rate is 4.1 percent. what rate would you expect to see on a treasury bill?
The investment most affected by local conditions is:A. real estateB. savings accountsC. mutual fundsD. Treasury bills
Aggregate demand shifts right when the Federal Reserve a. raises personal income taxes. b. increases the money supply. c. instituted an investment tax credit. d. All of the above are correct.