An Adjusted Trial Balance for a Merchandiser Is Given Below

question 193

Essay

An adjusted trial balance for a merchandiser is given below.

Prepare the journal entry to close the revenue and other income accounts.Omit explanation.

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Definitions:

Overall Equipment Effectiveness

A measure of manufacturing productivity that combines availability, performance, and quality metrics of equipment.

Machinery

The machines, equipment, and devices that perform various tasks in the manufacturing of goods and provision of services.

Efficiency Rate

The ratio of the actual output produced to the expected standard output, utilized in assessing operational efficiency.

Manufacturing Capacity

The maximum amount of products a facility can produce over a given period under normal working conditions.