Prepare the necessary closing entries at December 31, 2020. Use compound journal entries where necessary.

Presented below is information related to Opra Company for 2019.       Please show all calculation step by step. Answer must be correct.   Answer follow image

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The following selected account balances were taken from ABC Company's genera 1 ledgers for 2019: January 1, 2019 December 31, 2019 Inventory Accounts payable Salaries payable 74,000 56,000 50,000 28,000 9,000 4,000 Investments 68,000 75,000 Accounts receivable 69,000 35,000 Land 58,000 88,000 Notes payable 195,000 120,000 Unearned revenue 17,000 25,000 Common stock 100, 000 190,000 Retained earnings 23,000 63,000 The following information was taken from ABC Company's 2019 income statemen t: Sales revenue $420,000 Cost of goods sold 300,000 Salaries expense 68,000 Net income $ 52,000 Calculate ABc Company's net cash flow from financing activities for 2019. If your answer is negative, place a minus sign in front of your answer with no spaces in between (e.g., -1234).

Planning Wizards, LLC is an event-planning company. Which of the following would be included in the current asset section of a classified balance sheet dated December 31, 2019? a. 15-month certificate of deposit b. Customer advances on New Year's parties c. Last month rent payment (lease expires in 2021) d. Investment in stocks, to be sold in 2020 e. Income tax refund receivable f. Inventory Select one: d, e, and f e and f a, b, c, e, and f a, b, c, d, e, and f b, e, f

Required information [The following information applies to the questions displayed below.] On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) Common Stock Retained Earnings Totals View transaction list Journal entry worksheet

The assets and liabilities of Snub Services as of March 31, 2020, the end of the current year, and its revenues and expenses for the year ended March 31, 2020 are listed below. The Retained Earnings balance was $10,030 at April 1, 2019, the beginning of the current year. Accounts Payable: $1,620 Accounts Receivable: $8,360 Cash: $27,950 Dividends: $13,130 Equipment: $82,770 Fees Earned: $115,430 Net Income: $ Upon completion of its financial statements for the year ended (and as of) March 31, 2020, Snub Services would report the following amounts: Ending Retained Earnings: $ Land: $58,970 Miscellaneous Expense: $1,960 Office Expense: $6,260 Stock: $98,050 Ending Total Liabilities and Equity: $ Supplies: $3,430 Wage Expense: $22,300

These financial statement items are for Nazir Company at year-end, July 31, 2019.   Salaries payable           $ 1,040 Note payable (long-term) $900 Salaries expense 25,850 Cash 12,100 Utilities expense 11,300 Accounts receivable   4,890 Equipment 9,259  Accumulated depreciation   3,000 Accounts payable 2,050 Nazir, Drawing   2,000 Commission revenue 30,550 Depreciation expense   2,000 Rent revenue   4,250 Nazir, Capital (beginning 25,600         of the year)          Instructions:        (a) Prepare an income statement and an owner’s equity statement for the year. The owner did    not make any new investments during the year.         (b) Prepare a classified balance sheet at July 31.  Income Statement Particulars Amount ($) Amount ($)       Owner’s Equity Statement Particulars Amount ($) Amount ($)       Balance Sheet Particulars Amount ($) Amount ($)

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According to the balance sheet of Free Inc, at the end of the 2020 fiscal year, the cash balance is $200,000, account available balance is $500,000, inventory balance is $750,000; the net fixed asset is $1,500,000. On the other side, the account payable is $250,000, the accrual $40,000, the notes payable is $300,000, long-term debt is $510,000, common stock is $1,200,000, retained earnings is $650,000. The net income is $900,000; the interest payment is $45,600; the tax rate is 25%. If the sales is $10,000,000, what is the operating margin?b. 13.26%c. 11.45%d. 10.66%