Ask question

Ask question

All categories

2 years ago

6

For the office supplies account on the worksheet, the trial balance has a debit balance of $1,200 and a $900 debit balance on th

e adjusted trial balance. What was on the adjustment column for office supplies

1 answer:

oee [108]2 years ago

7 0

Answer: 300 Credit

Explanation:

You might be interested in

A. trade-off<br>B. investment<br>C. frontier<br>D. growth

disa [49]

Answer:

The answer is "Option C"

Explanation:

The curve on the graph is also known as the arc, which is used in the connected mixture of perceptual lines to three additional lines in standard dual points. The Frontier production options is a nice graph of all the various output mixture of different products which can be produced utilizing existing techniques and knowledge.

3 0

3 years ago

Motel Corporation is analyzing a capital expenditure that will involve a cash outlay of $208,240. Estimated cash flows are expec

kvv77 [185]

Answer:

The answer is c.8%.

Explanation:

The internal rate of return is the rate of an investment where the cash outlay and the actual value of the cash flows are the same, so the return is eqaul to zero. The actual value of the cash flow are calculated: annual cash flow multiplied by an annuity of $1 at a selected interest. So, the result has to be equal to the outlay (208,240). In this case, x is the annuity.

$208,240 = 40,000 * x$
$208,240/40,000 = x = 5.206$

The annuity of 5.206 is obtained with the interest of 8%.

3 0

4 years ago

Jamestown Furniture Mart, Inc., sold $ 80,000 of furniture in May to customers who used their American Express credit cards. Suc

puteri [66]

Answer:

a. Debit Bank for $77,600; Debit Sales discount for $2.400; and Credit Sales for $80,000.

a. Debit Bank for $80,000; and Credit Sales for $80,000.

Explanation:

a. Prepare journal entries to record the sales and the subsequent receipt of cash from the credit card company.

The journal entry will look as follows:

<u>Accounts Title Debit ($) Credit ($) </u>

Bank (97% * 80,000) 77,600

Sales discount (3% * 80,000) 2.400

Sales 80,000

<em><u>(To record sales paid for by the customer using American Express credit cards.)</u></em>

b. Do the same as requirement (a), but assume the credit cards used were VISA cards (a bank credit card).

Under this scenario, the sales are NOT subject to discount and the customer will 100% of the price.

The journal entry will therefore look as follows:

<u>Accounts Title Debit ($) Credit ($) </u>

Bank 80,000

Sales 80,000

<em><u>(To record sales paid for by the customer using VISA cards.) </u></em>

4 0

3 years ago

Cumberland, Inc. has applied to its bank for a loan. The bank asks Cumberland's controller about the total amount of the company

torisob [31]

Answer:

B. The Accounts Receivable controlling account.

3 0

3 years ago

It costs Sheffield Company $26 per unit ($18 variable and $8 fixed) to produce its product, which normally sells for $38 per uni

Usimov [2.4K]

Answer:

$5,400

Explanation:

The computation of effect on net income is shown below:-

Incremental revenue $109,200

(5,200 × $21)

Less: Variable cost $93,600

(5,200 × $18)

Less: Shipping cost $10,200

(5,200 × $2)

Incremental profit (loss) $5,400

Therefore, The Net income increases by $5,400 with the above computation.

8 0

3 years ago