Zach took $400,000 out of the bank and used it to start his new cookie business. the bank account pays 3 percent interest per year. during the first year of his business, zach sold 6,000 boxes of cookies for $2.50 per box. also, during the first year, the cookie business incurred costs that required outlays of money amounting to $9,000.zach's accounting profit for the year . $-494,000.b. $-6,000.c. $6,000.d. $12,000.

After all revenue and expense accounts have been closed at the end of the fiscal year, income summary has a debit of $2,450,000 and a credit of $3,000,000. at the same date, retained earnings has a credit balance of $8,222,600, and dividends has a balance of $125,000. required: a. journalize the entries required to complete the closing of the accounts on december 31. refer to the chart of accounts for exact wording of account titles. b. determine the amount of retained earnings at the end of the period.

Afreelance​ singer-songwriter is planning the restoration of a recently purchased civil​ war-era farmhouse. while he professes an enjoyment​ of, and talent in the construction​ trades, the theory of comparative advantage implies that a. the value of what he imports​ (in this​ case, professional contractor​ services) must equal the value of what he exports​ (songs). b. he should concentrate on the restoration work since his​ out-of-pocket costs will be much lower than if he hires professionals. c. ​self-sufficiency is​ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the work​ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since imports​ (in this​ case, professional contractor​ services) should always be restricted to those things that cannot be done internall

What is an example of a good stock to buy during economic expansion? a) cyclical stock b) defensive stock c) income stock d) bond