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marshall27 [118]
2 years ago
9

31. If a company initially records the purchase of supplies to the supplies expende account, the mount of the adjusting entry ma

de at the end of an accounting period will be equal to
Business
1 answer:
scoundrel [369]2 years ago
6 0

We can actually deduce here that the amount of the adjusting entry that was made at the end of an accounting period will be equal to the supplies on hand at the end of the period.

<h3>What is accounting period?</h3>

An accounting period is actually known to be the period of time that a particular accounting function is covered. It can be a fiscal year, quarterly, monthly or even weekly.

We see here that the amount of the adjusting entry that was made at the end of an accounting period will be equal to the supplies on hand at the end of the period.

Learn more about accounting period on brainly.com/question/26533843

#SPJ12

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If a perfectly competitive firm and a single-price monopolist face the same demand and cost curves, then the competitive firm wi
Rudik [331]

Answer:

a

Explanation:

greater output and charge lower price than the monopolist

7 0
3 years ago
the 2010 federal budget for the united states includes spending $164 billion to pay interest on the national debt. if this amoun
Irina-Kira [14]

The total federal budget based on the budgeted interest on national debt is $3550 billion($3.55 trillion)

What percentage of the budget is $164 billion on national budget?

The spending on interest regarding the national debt is 4.62% of the entire federal budget, on that basis, we can convert the 4.62% to what 1% term and multiply that by 100% to ascertain the total federal budget.

4.62% of federal budget=$164 billion

1 % of federal budget=$164 billion/4.62

1 % of federal budget=$35.50 billion

100% of federal budget=$35.50 billion*100

100% of federal budget=$3.55 trillion

Find out more about federal budget on:brainly.com/question/15561900

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6 0
1 year ago
Make a list of at least three items that are important to double check before submitting a loan application to underwriting. Lis
xxMikexx [17]

Answer:

Please see answers below.

Explanation:

A. Three important Items to double check before submitting a loan application to underwriting.

• Completeness of data : One has to be sure that all important details are captured hence none is left out. It means that there are no missing information on the application.

• Calculations performed accurately: This means that calculations such as borrower's income, qualifying ratios are calculated accurately and also double checked for the purpose of the loan underwriting.

• Documentations required by the loan programme. All Documentations required by the loan programme must be double checked before submitting a loan application to underwriting.

B. List at least two things you would be sure to tell a borrower in preparation for closing

• I will seek clarity in terms of the money borrower would be bringing to the closing table.

• The date,time,venue of closing are essential for the closing hence will be communicated to the borrower. Also, there are no right or wrong answers that may be asked or given by the borrower during the closing.

C. List at least three calculations that are typically used during the course of mortgage loan transaction.

• Income calculation

• Front end and back end ratio (DTI ratio)

• Monthly payment.

3 0
3 years ago
At the profit maximizing level of employment, the wage rate is _____ and the level of employment is _____: w3; q1 w2; q2 w1; q1
diamong [38]
The correct option is w1;q1.
<span>At the profit maximizing level of employment, the wage rate is W1 and the level of employment is Q1.</span>
4 0
3 years ago
A firm has actual sales in November of $1,000 and projected sales in December and January of $3,000 and $4,000, respectively. Th
inn [45]

Answer:

b. 2,100

Explanation:

On January will be collected: a) 10% January´s sales because is collected in cash; b) 40% December´s sales because is collected one month following the sale, and 50% November sales because the balance is collected two months following the sale.

So we can calcula like follows:

Expected cash receipts in January = (4,000 * 0.10) + (3,000 * 0.40) + (1,000 * 0.50)

Expected cash receipts in January = 400 + 1,200 + 500

Expected cash receipts in January = 2,100

8 0
3 years ago
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