Listed below are the account titles for hay secretarial services , each identified by a letter. Following the accounts is a list of the closing entries. Using the identifying letters , indicate the account(s) to be debited and credited in each closing entry. A. Cash in bank
B. Accounts receivable
C. Computer equipment
D. Accounts payable
E. Mariko Hays, capital
F. Mariko Hays, withdrawals
G. Income Summary
H. Fees
I. Miscellaneous expense
J. Rent expense
K. Supplies expense
L. Utilities expense

1. Record the closing entry for the revenue account.
Debit:
Credit:

2. Record the closing entry for the expense accounts.
Debit:
Credit

3. Record the closing entry for the income summary account (assume net income)
Debit:
Credit:

4. Record the closing entry for the withdrawals account.
Debit:
Credit:

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.

Robert owns a life insurance policy that he purchased when he first graduated college. it has a $100,000 death benefit and robert pays premiums for it every month out of his checking account. the insurance robert has is most likely da. permanent life insurance o b. term life insurance o c. group life insurance o d. individual life insurance

He interest rate effect is the change in real gdp caused by the federal reserve adjusting target interest rates. is the change in consumer and investment spending due to changes in interest rates resulting from changes in the aggregate price level. is the change in exports and imports, resulting from changes in the interest rate caused by changes in the aggregate price level. is the change in investment spending and government purchases caused by changes in money demand. is the change in interest rates, caused by changes to government purchases.