Presented below is income statement information of the Nebraska Corporation for the year ended December 31, 2018.

Required:

Prepare the necessary closing entries at December 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Record the entry to close the revenue and losses using the income summary.

Record the entry to close the expense accounts using the income summary.

Record the entry to close the income summary account.

1. The size of the market mostly

2. Tax burden

3. Taxes makes

4. When the taxes are imposed

A company has the following adjusted trial balance:

Which closing entry is needed?

Question 26 options:

(Chapter 3 LO3)

The ledger of Pina Colada Corp. on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared.

An analysis of the accounts shows the following.

Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense.

The ledger of Skysong Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared.

An analysis of the accounts shows the following.

Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expenses.

The ledger of Perez Rental Agency on March 31 of the current year includes the selected accounts, shown below, before quarterly adjusting entries have been prepared. Debit Credit Prepaid Insurance $ 3,600 Supplies 2,800 Equipment 25,000 Accumulated Depreciation—Equipment $ 8,400 Notes Payable 20,000 Unearned Rent Revenue 10,200 Rent Revenue 60,000 Interest Expense 0 Salaries and Wages Expense 14,000 An analysis of the accounts shows the following. 1. The equipment depreciates $400 per month. 2. One-third of the unearned rent revenue was earned during the quarter. 3. Interest totaling $500 is accrued on the notes payable for the quarter. 4. Supplies on hand total $900. 5. Insurance expires at the rate of $200 per month.

Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly. Additional accounts are Depreciation Expense, Insurance Expense, Interest Payable, and Supplies Expense.

The annual demand function for a particular motor car is
estimated as:
D = 16000-10P/3+ Y2/1000
where D =annual demand, P =price in £'s and Y =average
disposable income.
(i) Given that the retail price next year will be £12 000, whilst
average disposable income is expected to be £8000, estimate
next year's annual demand. If the manufacturer
receives 80% of the retail price for each car sold, estimate
the manufacturer's revenue next year.
(ii) Find the retail price to maximise manufacturer's revenue
next year.
(iii) If the marginal cost per car is estimated to be £6000, find
the price to maximise profit next year.
(iv) In the subsequent year the retail price is expected to rise to
£13 000, whilst incomes should increase by 5%. Estimate
demand and manufacturer's revenue for that year, and use
this information to estimate the price and income demand
elasticities

TT Lodging Establishment’s internal financial data is presented as follows: Financial Data: 2010 2011 Available Rooms 24,400 24,400 Occupancy % 72.00% 81.00% ADR $158.00 $166.00 Total #of Guests 12,410 15,330 Total Food Revenue $806,650 $1,287,720 Gross Operating Profit $486,000 $511,000 Total #of Food Plates 82,000 93,000 Total #of Seats in F&B Outlets 102 102 Rooms Occupied by Two or More People 3,000 3,850 Using the internal financial data table demonstrated above, calculate Revenue per Available Room (RevPAR), Revenue per Available Customer (RevPAC), Gross Operating Profit per Room, Average Food Service Check, Average Guest Occupancy per Room Sold, Multiple Occupancy, and Seat Turnover RESPECTIVELY for JTT Lodging Establishment in 2011 (assume that there are 365 days in a year and all F&B outlets are open 365 days in a year)

Use the following selected data from Business Solutions’s income statement for the three months ended March 31, 2018, and from its March 31, 2018, balance sheet to complete the requirements below: computer services revenue, $29,277; net sales (of goods), $18,666; total sales and revenue, $47,943; cost of goods sold, $14,366; net income, $20,739; quick assets, $88,424; current assets, $95,344; total assets, $121,624; current liabilities, $870; total liabilities, $870; and total equity, $120,754.

Required: A: Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio. B: Compute the current ratio and acid-test ratio. C: Compute the debt ratio and equity ratio. D: What percent of its assets are current? What percent are long term?

Note: Please solve the problem completely with details that I can practice and learn. Thank you.