Explain what the closing entries accomplish and why they are necessary. The closing entries set the balance of each​ revenue, expense, and dividend account ▼ . We must close these accounts because ▼ the company has an obligation to provide a product or service in the future. their balances relate only to one accounting period. these accounts are all permanent accounts. Requirement 2. Post the closing entries to Retained Earnings and compare Retained​ Earnings' ending balance with the amount reported on the balance sheet. The two amounts should be the same. Post each entry using the appropriate closing entry label. Calculate the balance and enter the balance on the correct side of the account along with the​ "Bal" label.

In the second column, determine if penguin patties are a complement to or a substitute for each of the goods listed. finally, complete the final column by indicating which good you should recommend marketing with penguin patties.

Oceanside marine company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. oceanside uses standard costs to prepare its flexible budget. for the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows: direct materials: 2 pound per unit; $ 11 per pound direct labor: 2 hours per unit; $ 19 per hour oceanside produced 2 comma 000 units during the quarter. at the end of the quarter, an examination of the direct materials records showed that the company used 7 comma 500 pounds of direct materials and actual total materials costs were $ 98 comma 100. what is the direct materials cost variance? (round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.)

On coral island in 2012, the labor force is 12,000, the unemployment rate is 10 percent, and the labor force participation rate is 60 percent. during 2013, 200 unemployed people found jobs and the working-age population increased by 1,000. the total number of people in the labor force did not change. the working-age population at the end of 2013 was the unemployment rate at the end of 2013 was round up to the second decimal. the labor force participation rate at the end of 2013 was round up to the second decimal.