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Author Question: The owner's Capital account will always have a zero balance after the closing entries are posted. ... (Read 136 times)

strangeaffliction

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The owner's Capital account will always have a zero balance after the closing entries are posted.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

The gross profit margin is increasing for a firm. Give three reasons that could explain the increase.
 
  What will be an ideal response?



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fromAlphatoOmega22

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Answer to Question 1

False

Answer to Question 2

Three reasons that gross profit margin might be increasing are:
a, the selling price has increased without a proportional increase in cost of goods sold
b, the cost of goods sold are decreasing without a proportional increase in sales
c, cost of goods sold contains fixed costs and the volume of sales has increased




strangeaffliction

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Reply 2 on: Jul 6, 2018
Excellent


recede

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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