Use the following income statement for the year 2021 for Belle Company to prepare entries to close the revenue and expense accounts for the company. Service revenue $85,000
Expenses:
Salaries and Wages Expense $40,000
Rent Expense 12,500
Advertising Expense 8,700
Total expenses 61,200
Net income (loss) $23,800

Ashare stock is a small piece of ownership in a company ture or false

He management's discussion and analysis (md& a) required in general purpose federal financial reporting is different than that required by gasb of state and local governments in that: a. it includes information about the agency's performance goals and results in addition to financial activities. b. it is outside the general purpose federal financial report and is optional, not required. c. it is a part of the basic financial statements and, as a result, it is audited along with the financial statements. d. there are no significant differences.

Why has the free enterprise system been modified to include some government intervention?