Answer and Explanation:
1. Interest Revenue $23,000
Sales Revenue $510,000
To Income Summary $533000
(Being closing of revenues accounts are closed)
2. Income Summary $453,000
To Sales returns $20,000
To Sales Discounts $7,000
To Cost Of goods sold $310,000
To Freight out $2,000
To Advertise Exp $15,000
To Interest Exp $19,000
To Salaries & Wages $55,000
To Utility $18,000
To Depreciation $7,000
(Being closing of expenses accounts are closed)
3. Income Summary $80,000
To Retained Earning $80,000
(Being profit is recorded)
4. Retained Earning $30,000
To Dividends $30,000
(Being closing of dividend is recorded)
Learning strategy is the <u>independent </u>variable and word retention is the <u>dependent </u>variable.
A dependent variable is the thing that is being measured or tested by changes in the independent variable. Spurling wanted to test how word retention <em>depended </em>on different learning strategies.
Answer:
Adjusted Gross Income =$ 102,000
Explanation:
Gross Income $ 200,000
Business Expenses $ 60000
Gross income earned from your self-employment $140,000
Less alimony to his former spouse $30000
Less Health Insurance Premium $6000
Less Medicine and Doctor fees $ 2000 (Assuming its under Qualified Medical Expenses)
Adjusted Gross Income =$ 102,000
Since mortgage interest relates to personal home, it is not deductiable.