dhours, 16 minutes, 43 seconds Question Completion Status: Moving to another question will save this response Question of 15 Question 1 1 points For the year ended December 31, a company had revenues of 5192,000 and expenses of $115.200. The owner withdrew $31.400 during the year. Which of the following entries could not be a closing entry? Debt Owner's Capital $38.400 credit Owner Withdrawals 38.400 Debit Income Summary $76,800, credit Owner's Capital $76.800 Debit revenues $102,000 credit Income Summary $102.000 Debil Income Summary $192.000 credit revenues $192.000 Debit Income Summary $115,200, credit expenses $115,200 13 MacBook Air DU 25 20 11 FO 8 $ 4 96 5 0 8 9 7 0) 2 3 0 U T Y W E J L H F G D A s D $ 4 % 5 8 7 00. 9 0 6 2 3 0 T U Y R W E L . J G F D S M . N B V X Moving to another question will save this response. Question of 15 Question 3 1 points The Mercury, Capital account has a credit balance of 539,000 before closing entries are made. Total revenues for the period are $57.200, total expenses are 540,800, and withdrawals are 59800. What is the correct closing entry for the expense accounts Credit Expense accounts 540,800, debit F Mercury, Capital $40,800 Debit Income Summary $40,00, credt Expense accounts $40.800 Debin Expense accounts $39.000, CF Mercury, Capital $39,000 Debit Income Summary 540.800 credit F. Mercury Capital $40.000 Debt Expense accounts $40,000 credit Income Summary $40,000 MacBook Air D G ca 14 B Fe NO $ 4 96 5 & 7 3 0 8 9 3 U 0 Y T 20 0 E W H G J K L F D 1 S M N B V . N 28 Unier question will save this response Question 4 of 1 Question 4 1 points Mega Skateboard Supplier had net sales of $3.2 million, its cost of goods sold was $2.0 million and its net income was 513 million. Its gross marin ratio equake 63% 65% 41% 38% 160% PE MacBook Air : 0 SH F + $ 4 % 5 7 8 (0 0 6 3 2 Du 1 Y 0 C R E W L J H . G A D S & Moving to another question will save this response Question 8 A company's current assets are $19,490, its quick assets are $10,800 and its current liabilities are $12.700 ts quick ratio equats: 1 points 1.18 0.85 1.80 1.53 2.30 Question of 15 Moving to another question will save this response MacBook Air 30 88 Ha 225 13 ) - & 7 8 0 02 COD $ 4 5 6 1 2 3 0 U Y T R T E W L H G F D S queston wa Save this response Question of 15 uestion 9 1 points Avenue The following information is available for the Higgins Travel Agency. After closing entries are posted. What will be the balance in the Higgins. Capital account? $ 62.500 140,000 20.000 Net Income C Higgins, Capital C. Higgins, Withdrawals $57.500 $222,500 $182,500. 397.500 $140,000 Question of 15 Moving to another question will save this response 13 F MacBook Air 1 SO SUS Fe ) - & 7 8 9 96 5 0 GD 6 4 2 3 P o U Y T R E W J H G F D 4 S . | N B -> Moving to another question will save this response. Question 10 of 15 uestion 10 1 points Cushman Company had $830,000 in sales, sales discounts of $12,450, sales returns and allowances of $18,675, cost of goods sold of 394,250, and $285,520 in operating expenses. Net income equals: $150,230 $181,355 $119,105 $798,875 $404,625 Question 10 of 15 Moving to another question will save this response NAR MacBook Air so S88 FI & 7 9 8 2. 0 $ 4 %2 3 5 0) P. 0 U Y T R E W L J H . G F D S Moving to another question will save this response. Question 14 of 15 Question 14 1 points are Arew A company uses the periode inventory system and had the following activity during the current monthly period. November 1: Beginning inventory 104 Units 510 November 5 Purchased 104 Units @ $20 November & Purchased 54 Units @ $25 November 16 Sold 142 Units @ $65 November 19: Purchased 35 Units @ $20 Using the weighted average inventory method the company's ending inventory would be $2050 $1040 $1740 $3024 $3090 MacBook Air w c! 221 27 SLO 888 Fe 3 - 23 O & 7 $ 4 % 5 9 8 6 2 3 0 Y Y U T R E W . L J H G S D >