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Provide the missing closing entry. Please indicate DR (debit) or CR (credit) to the left of the account title, and place a comma between the account title and the amount of the adjustment.

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Retained earnings at 1/1/10 was $150,000 and at 12/31/10 it was $200,000. During 2010, cash dividends of $50,000 were paid and a stock dividend of $40,000 was issued. Both dividends were properly charged to retained earnings.

Provide the missing closing entry. Please indicate DR (debit) or CR (credit) to the left of the account title, and place a comma between the account title and the amount of the adjustment.

Profits might be compared to sales, assets, or stockholders equity. Why are all three of these useful? Will trends in all three ratios always move in the same direction? Why or why not?

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1. Profits might be compared to sales, assets, or stockholders equity. Why are all three of these useful? Will trends in all three ratios always move in the same direction? Why or why not?

2. The Return on Assets for Smith Corporation has remained fairly stable at 15 percent, while the Return on Assets for Jones, Inc. has steadily increased from 10 percent to 18 percent over the past five years. Both companies have had the same net income. Which company has the better profitability? What additional information about the companies assets would you want to have before making a final conclusion?

What is the difference between a direct cost and an indirect cost? Give an example of each in the context of teaching an accounting class at your school.

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What is the difference between a direct cost and an indirect cost? Give an example of each in the context of teaching an accounting class at your school.

Analyze your personal expenses on a variable and fixed basis. What are some of your personal fixed costs and variable costs? What would cause them to change?

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Analyze your personal expenses on a variable and fixed basis. What are some of your personal fixed costs and variable costs? What would cause them to change?