Which of these developments helped launch the Industrial Revolution? Check all that apply.

Which of these developments helped launch the Industrial Revolution? Check all that apply.

a. More families produced their own food.

b. Many people moved back to rural areas.

c. Landowners hired more workers.

d. The demand for goods increased.

e. Populations grew rapidly.

Answer: In the field of accounting, certain accounts called temporary accounts always carry forward balances to another period when it is closed. All the accounts mentioned above are: Total Expense accounts or Contra-Expenses accounts with Normal Debit balances. To close them, they are credited, and the balance is taken to the Income Summary T-account through the process of debit. It assists in net income determination and projecting the accounts into the next period. sales discounts, sales return and allowances should be deducted from Gross Sales since they decrease the overall value of the actual sales. Cost of Goods Sold was developed as a way of determining the figure arrived at by adding the actual cost of products sold. Operating expenses include expenses incurred on services such as payment of rent, and expenses on utilities such as electricity. Sales on the other hand is a revenue account with a credit balance, and we close it with a debit.