Marigold Company had the following adjusted trial balance. Marigold Company Adjusted Trial Balance For the Year Ended June 30, 2022 Adjusted Trial Balance Account Titles Debit Credit Cash $3,590 Accounts Receivable 3,960 Supplies 460 Accounts Payable $1,500 Unearned Service Revenue 100 Common Stock 1,820 Retained Earnings 2,500 Dividends 520 Service Revenue 5,600 Salaries and Wages Expense 1,300 Miscellaneous Expense 390 Supplies Expense 1,800 Salaries and Wages Payable 500 $12,020 $12,020 Prepare closing entries at June 30, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Junc 30 (To close revenue account) June 30 (To close expense accounts) June 30 To close net income(loss)) June 30 (To close dividends)

Which of the following statements is true? a job costing system will have a separate work in process account for each of the major processes. a process costing system will have a single work in process account. a process costing system will have a separate raw materials account for each of the major processes. a process costing system will have a separate work in process account for each of the major processes.

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u. s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.

Palmer frosted flakes company offers its customers a pottery cereal bowl if they send in 3 boxtops from palmer frosted flakes boxes and $1. the company estimates that 60% of the boxtops will be redeemed. in 2012, the company sold 675,000 boxes of frosted flakes and customers redeemed 330,000 boxtops receiving 110,000 bowls. if the bowls cost palmer company $3 each, how much liability for outstanding premiums should be recorded at the end of 2012?