Amajor purpose of preparing closing entries is to a) adjust the asset accounts to their correct current balances. b) update the retained earnings account. c) close out the supplies account. d) zero out the liability accounts.

b) update the Retained Earnings account.

Step-by-step explanation:

A major purpose of preparing closing entries is to -  update the Retained Earnings account.

Retained earnings are defined as those profits, that a company has earned to date minus any dividends or other money paid to investors.

Whenever we make an entry to the accounting records, that affects a revenue or expense account, this retained earning amount is adjusted.

answer: the price of one pound cabbage = $ 0.8

the point (10,8) represents that the cost of 10 pounds cabbage is $ 8

step-by-step explanation:

since, here is a proportional relation between the number of pounds of cabbage (x) and the price in dollars (y).

therefore, we can write,

⇒ y = k x

where k is the constant of proportionality.

now, point (5,4) is in the line.

thus, it will satisfies the above equation of line.

⇒ 4 = 5 k

⇒ k = 0.8

thus, the equation of the line is,

y = 0.8 x

a) for x = 1,

y = 0.8

therefore, the cost of one pound of cabbage is 0.8 dollars.

b) in the below graph (10,8) represents that the cost of 10 pounds of cabbage is 8 dollars.

(0.2)+(-8)=0.3+-3+0.3m is the equation i guess? ?

step-by-step explanation: