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Readme [11.4K]
2 years ago
10

Brenda wants to buy a new car and has a budget of $25,000. she has just found a magazine that assigns each car an index for styl

ing and an index for gas mileage. each index runs from 0-10, with 10 representing either the most styling or the best gas mileage. while looking at the list of cars, brenda observes that on average, as the style index rises by one unit, the price of the car increases by $5,000. she also observed that as the gas mileage index rises by one unit, the price of the car increases by $2,500.
Business
1 answer:
IgorC [24]2 years ago
6 0
For each $5000 she spends on the style the record ascends by one, so the most she can accomplish is an auto with style list of 5. For each $2500 she spends on gas mileage the file ascends by one, so the most she can accomplish is an auto with a gas-mileage file of 10. The slant of her spending line is in this way ½.
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During the recession witnessed in early 2001, many firms laid off their employees and downsized. the reason for this decrease in
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The following adjusted trial balance contains the accounts and year-end balances of Cruz Company as of December 31. No. Account
vichka [17]

Answer:

Services revenue 44,000 debit

       Income Summary        44,000 credit

--to close revenues accounts--

Income Summary       33,100 debit

Depreciation expense—Equipment 3,000 credit

Salaries expense                             22,000 credit

Insurance expense                            2,500 credit

Rent expense                                     3,400 credit

Supplies expense                              2,200 credit

--to close expenses account--

Income Summary           7,000 debit

     A. Cruz, Withdrawals            7,000 credit

--to close withdrawals account--

Income summary     3,900 debit

      A. Cruz, Capital Account      3,900 credit

--to close Income Summary against Cruz, capital account--

 

Cash                     19,000

Supplies                13,000

Prepaid insurance 3,000

Equipment           24,000

Accumulated depreciation—Equipment 7,500

A. Cruz, Capital                                        51,500

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Explanation:

To close the accounting period we will use income summary to write off expenses, revenues and withdrawals account. Then, the balance of this account will be transfer into Cruz Capital Account

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Then we post the trial balance considering assets has debit balance while liabilities and equity credit.

We check if everything is okay and it does. Debit = Credit

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