Prepare the journal entry to close the revenue and other income accounts. Omit explanation.

An adjusted trial balance for a merchandiser is given below.


Business

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Explain how to forecast expenses.

What will be an ideal response?

Business

________ is a situation in which one party threatens to do a wrongful act unless the other party enters into a contract

A) Scienter B) Duress C) Battery D) Assault

Business

If strategy and portfolio are not in sync, the firm is poised on the cusp of success

Indicate whether the statement is true or false

Business

?Which of the following is true about a common size balance sheet?

A. ?The assets, liabilities, and equities are reported at its market value. B. ?The assets, liabilities, and equities are reported as a percentage of common stock. C. ?The assets, liabilities, and equities are reported as a percentage of total assets. D. ?The assets, liabilities, and equities are arranged in the alphabetical order. E. ?The assets, liabilities, and equities are reported as a percentage of the assets, liabilities, and equities of a competing firm.

Business