Assume the account number for income summary is 901.2

Answer and Explanation:

The closing entries are shown below

a. Service revenue Dr $44,000

       To Income summary $44,000

(being the service account is closed)

b. Income summary Dr $33,100

        To Depreciation expense - equipment $3,000

        To Salaries expense $22,000

        To Insurance expense $2,500

        To Rent supplies $3,400

       To Supplies expense $2,200

(being the expenses are closed)

c. Income summary $10,900

         To C capital $10,900

(Being the income summary to capital is recorded)

4. C capital Dr $7,000

        To C withdrawals $7,000

(Being withdrawals of C capital is recorded)

The post closing trial balance is presented below;

Particulars            Debit         Credit

Cash                    $19,000

Supplies             $13,000

Prepaid insurance $3,000

Equipment           $24,000

Accumulated

depreciation                        $7,500

Capital

($47,600 + $10,900 - $7,000)  $51,500

Total                $59,000       $59,000

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi