The following is a partial list of balances for the Snowden Company as of December 31 of the current year. Prepare journal entries to close the pertinent accounts, using the 2-step process. Cash $ 110,000 Accounts Receivable 94,000 Prepaid Insurance 3,200 Equipment 250,000 Accounts Payable 12,000 Common Stock 95,000 Dividends 15,000 Fees Earned 240,000 Rent Expense 40,000 Wages Expense 55,000 Insurance Expense 24,000 Miscellaneous Expense 8,400

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whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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