The financial data of the 4GG Co. contains the following: Service revenue $350,000, Salaries Expense $80,000, Rent Expense $40,000, Advertising Expense $20,000, Supplies Expense $10,000, Utilities Expense $20,000, and Dividends $70,000. The entry to close dividends accounts includes esa O a. credit dividends $70,000. O b. debit income summary $70,000. Occredit retained earnings $70,000. O d. debit Rent Expense $40,000. Financial information is presented as a following: Operating Expenses $ 270,000, Sales Returns $78,000, Sales Discounts $36,000, Sales Revenue $900,000, and Cost of Goods Sold $402,000. Net income would be O a. $114,000 O b. $205,000 O c. $112,000 O d. 5120,000. HOLLY Company purchased an equipment for $12,000 on December 1. It is estimated that annual depreciation on the equipment will be $1,200. If financial statements are to be prepared on monthly base on December 31, the company should make the following adjusting entry: O a. Debit Depreciation Expense, $1,200; Credit Accumulated Depreciation, $1,200. O b. Debit Depreciation Expense, $6,000; Credit Accumulated Depreciation, $6,000. O c Debit Office Equipment, $1,000; Credit Accumulated Depreciation, $1,000. Od. Debit Depreciation Expense, $100; Credit Accumulated Depreciation, $100. Windows bar You are provided the following information for Pavey Company for the month ended October 31, 2019. Date Explanations Units Cost October 1 Beginning 5,000 $ 5 October 10. Purchases 13,000 6 October 17. Purchases 10,000 7 October 25 Purchases 10,000 8 26,000 units were sold during the month. Using Weighted Average method, the cost of goods sold is O $173,105 $79,875 O $159,000 $253,000 You are provided with the following information for WWS Inc. for the month ended June 30, 2010. WWS uses the periodic method for inventory Date Description Units Cost Per Unit June 1. Beginning Inventory 1,000 $50 June 5. Purchases 7,000 55 June 20. Purchases 4,500 62 June 27. Purchases 8,000 65 Total sales in units during the month of June 18,000 units. What is the cost of goods available for sale? O $162,500 51,083,512 O $1,234,000 51,071,500 3G Company sells merchandise on account for $8,000 to XYY Customer with credit terms of 3/10, n/30. XYY Customer returns $1,000 of merchandise that was damaged, Customer also paid the balance due within discount period and obtained the discount What is the amount of the cash that should be received? O a. 56,790 O 0.57,760 O c $6,920 O d. 57.000 You are provided with the following information for WWS Inc. for the month ended June 30, 2010. WWS uses the periodic method for inventory Date Description Units Cost Per Unit June 1. Beginning Inventory 1,000 $50 June 5. Purchases 7,000 55 June 20. Purchases 4,500 62 June 27. Purchases 8,000 65 Total sales in units during the month of June 18,000 units. Using the Weighted Average method, What is the cost of ending inventory? O $1,234,000 $182,200 Windows bun Winos 51,071,500 $150,488