The income statement for the month of June, 2011 of Taylor Enterprises contains the following information:
Revenues
£7,000
Expenses:
Wages Expense
£2,000
Rent Expense
1,000
Supplies Expense
300
Advertising Expense
200
Insurance Expense
100
Total expenses
3.600
Net income
13.400
The entry to close the expense accounts includes a
a. debit to Income Summary for £3,400.
b. credit to Rent Expense for £1,000,
credit to Income Summary for £3,600
d. debit to Wages Expense for £2,000.​

Which of the following has the largest impact on opportunity cost

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.

Which of the following is a characteristic that can be used to guide the design of service systems? a. services cannot be inventoried. b. services are all similar. c. quality work means quality service. d. services businesses are inherently entrepreneurial. e. even service businesses have internal services.