Prepaid rent for three months, $3,600. May 5 Received and paid electricity bill, $900. May 9 Received cash for meals served to customers, $2,000. May 14 Paid cash for kitchen equipment, $3,120. May 23 Served a banquet on account, $3,200. May 31 Made the adjusting entry for rent (from May 1). May 31 Accrued salary expense, $1,800. May 31 Recorded depreciation for May on kitchen equipment, $52

After all revenue and expense accounts have been closed at the end of the fiscal year, income summary has a debit of $2,450,000 and a credit of $3,000,000. at the same date, retained earnings has a credit balance of $8,222,600, and dividends has a balance of $125,000. required: a. journalize the entries required to complete the closing of the accounts on december 31. refer to the chart of accounts for exact wording of account titles. b. determine the amount of retained earnings at the end of the period.

Suppose that real interest rates increase across europe. this development will u.s. net capital outflow at all u.s. real interest rates. this causes the loanable funds to because net capital outflow is a component of that curve.

Arestaurant that creates a new type of sandwich is using (blank) as a method of competition.