Which of the following digits of the account number arrangement in a chart of accounts indicates the placement of the account within the subclassification?

a.Second digit

b.Fifth digit

c.Fourth digit

d.Third digit

Omega Company provides the following information with regard to its nominal accounts:

Sales	$19,800
Sales Discounts	260
Purchases Returns and Allowances	145
Insurance Expense	575
Course Fees Income	450
Wages Expense	380
Purchases Discounts	1,000
Purchases	12,000
Interest Income	520

Compute the amount to be credited to the Income Summary account while performing the first step of the closing procedure.

a.$21,915

b.$22,175

c.$32,770

d.$33,915

Debts that will become due within the normal operating cycle of the business, usually within one year, are known as:

a.periodic liabilities.

b.terminal liabilities.

c.recurring liabilities.

d.current liabilities.

The net sales of Gamboge Company for the current year is $48,000, and the gross profit for the year is $26,400. Calculate the gross profit percentage of Gamboge Company for the current year.

a.40 percent

b.55 percent

c.45 percent

d.50 percent

Which of the following journal entries is passed to close the Income Summary account into the Capital account, transferring the net income to the Capital account?

a.A debit to Capital and a credit to Income summary

b.A debit to Income summary and a credit to Capital

c.A debit to Income summary and a credit to Net Income

d.A debit to Net Income and a credit to Income summary

PLZ ANSWER ALL THE QUESTIONS, I WILL FOR SURE LEAVE A NICE COMMENT AND RATINGS!!!!! DONT ANSWER IF YOU DONT LIKE TO ANSWER ALL THANK YOU