please answer all the question even the picture please :

1)which one of the following accounts would not be closed at the end of the accounting year?

A . utilities expense

B. prepaid rent

C. sales revenue

D. wages expense

2) which of the following assumptions implies that the assets and liabilities of the business are accounted for separately from the assets and liabilities of the owners?

A.continuity assumption

B.entity assumption

C.Historical cost principle

D.Monetary unit assumption

3) An organization is considering to choose either FIFO method or Weighted Average method for their inventory valuation. The prices are expected to be rising in the future

Required :

describe the effect on the cost assigned to the ending inventory and cost of good sold if the organization chose to use fifo method of inventory valuation

4) how can i calculate the cost assigned to the ending inventory by using weighted average method ?

3.5 out of 5 points [CLO-2] The following information is available for Ocean Waves at December 31, 2020: From Income Statement Sales AED 775,000 Sales return and allowance 25.000 Net sales 750,000 From Balance Sheet Accounts Receivable AED 264,000 Allowance for doubtful accounts AED 5,000 (Credit balance) The aging schedule for the Accounts Receivable of White Waves Company at December 31, 2020, shows the following: Receivables Estimated Uncollectible Not Yet Due $136.000 3% 1 - 30 Days 30.000 6% 31 - 60 Days 24.000 12% 61 - 90 Days 30,000 24% Over 90 Days 44,000 50% Required: Part A: (1 mark) Compute the amounts of allowance for doubtful accounts as at December 31, 2020 using the aging of receivable method. Part B: (1 % mark) Prepare the adjusting entry at December 31, 2020 if the company uses the Percentage of Receivables method to adjust the allowance for doubtful accounts considering that allowance for doubtful accounts already has a credit balance of AED5,000 as mentioned above Part C: (1 mark) Prepare the adjusting entry at December 31, 2020 if the company uses the percentage of sales method to adjust the allowance for doubtful accounts, assuming that the company has a policy of providing for bad debts at the rate of 2% of net sales Part D: (1 mark) Explain the concept of matching principle in recognizing expenses for a particular accounting period 3.5 out of 5 points tion 15 [CLO-2] The following information is available for Ocean Waves at December 31, 2020: From Income Statement Sales AED 775,000 Sales return and allowance 25.000 Net salas 750,000 Erom Balance Sheet Accounts Receivable AED 264,000 Allowance for doubtful accounts AED 5,000 (Credit balance) The aging schedule for the Accounts Receivable of White Waves Company at December 31, 2020, shows the following: Estimated Recolvables Uncollectible Not Yet Due $135,000 3% 1-30 Days 30.000 6% 31-60 Days 24.000 12% 6190 Days 30,000 24% Over 80 Days 44,000 50% Required: Part A: (1 mark) Compule the amounts of allowance for doubtful accounts as at December 31, 2020 using the aging of receivable method Part B: (1 mark) Prepare the adjusting cutty at December 31, 2020 if the company uses the Percentage of Receivablos method to adjust the allowance for doubtful accounts, conudering that allowance for doubtful accounts al cady has a credit balance of AEDS,000 as mentioned above Part C: [1 mark) Prepare the adjusting entry at December 31, 2016 if the company uses the percentage of sales method to adjust the allowance for doubtral accounts, assuming that the company has a policy of providing for bad debts at the rate of 2% of net sales Part D: (marka Esplain the concept of matching principle in recognizing expenses for a particular accounting period