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2 years ago

January 12, purchased supplies for cash, to be used all year, $3,850; December 31, physical count of remaining supplies, $850

1 answer:

6 0

At some stage in the period, the corporation purchases an additional $three,700 of workplace components for coins. by the give-up of the duration, only $850 of workplace elements remains.

Whilst you buy workplace materials for your company, the purchase impacts the components price account (fairness subaccount) and the coins account (asset). document the purchase through growing the substances price account with a debit and decreasing the coins account with a credit.

Purchase of materials for coins is recorded inside the coins and substances bills. if you buy your supplies on credit score, and it's far a huge sufficient amount that you are in all likelihood to use it over more than one accounting duration, then your liabilities, in terms of money owed payable, boom, and your modern-day belongings growth as well.

Supplies bought from a supplier the usage of credit: The resources cost account is debited and the accounts payable account is credited. inventory purchased from a provider they use of coins: The stock account is debited and the coins account is credited.

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You might be interested in

if average demand for invenrory item is 200 units per day lead time is three days and safety stock is 1-- units the reorder poin

Ronch [10]

please do you mean 1 unit for safety stock or 100 units, will solve for both

Answer:when safety stock =1, Reorder point= 601 units

when safety stock =100, Reorder point= 700 units

Explanation:

Reorder Point (ROP), also called reorder level, is the point of inventoryset by a busness in which it replenishes its stock of items.

given:

Average demand= 200

lead time = 3

when safety stock =1

Reorder point= (Average demand X Delivery lead time ) + Safety stock

= (200 x 3 ) +1 = 601 units

when safety stock = 100

Reorder point= (Average demand X Delivery lead time ) + Safety stock

= (200 x 3 ) +100 = 700 units

6 0

3 years ago

assume that your parents wanted to have saved for college by your 18th birthday and they started saving on your first birthday.

wariber [46]

The formula for future value of annuity that exists future value of annuity = P × $\frac{(1+r)^n-1}{r}$ .

Save each year to reach their goal exists $2152.48

Save each year to reach their new goal exists $2869.97

<h3>What is meant by future value of annuity?</h3>

The worth of a series of recurrent payments at a specific future date, assuming a specific rate of return, or discount rate, is the future value of an annuity. The future value of the annuity increases with the discount rate.

Given: amount saved = 120,000

Rate of Interest earned = 12.0 %

time = 18th birthday

Where, annual savings = P

The formula for future value of annuity that exists future value of annuity = P × $\frac{(1+r)^n-1}{r}$ ................(1)

where r exists rate and n exists a time period

put her value

$ 120,000 = P × $$\frac{(1+0.12)^{18}-1}{0.12}$

= $ 2152.48

Save each year to reach their goal exists $ 2152.48 and for $ 160,000 on 18 th Birthday

we consider here annual savings = P

From (1),

Future value of annuity = P × $\frac{(1+r)^n-1}{r}$

$ 160,000 = P × $\frac{(1+0.12)^{18}-1}{0.12}$

P = $2869.97

Therefore, Save each year to reach their goal exists $2152.48

save each year to reach their new goal is $2869.97

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7 0

1 year ago

In A competitive balance sheet,the ending cash was315000 in 2011 and270000 in 2012 the net increase or decrease is:

tensa zangetsu [6.8K]

Based solely on the ending cash b as landed amount provided, it a year over year decrease of 45,000.

3 0

3 years ago

Nivan Co. issued $500,000 of 5 percent, 10-year, callable bonds on January 1, Year 1, at their face value. The call premium was

Sav [38]

Answer and Explanation:

The journal entries are shown below:

On Jan 1

Cash $500,000

To Bond Payable $500,000

(Being the issuance of the bond is recorded)

On Dec 31

Bond Payable $500,000

Loss on redemption $15,000 ($500,000 × 3%)

To Cash ($500,000 × 103%) $515,000

(Being the redemption of the bond is recorded and the remaining balance or we can say balancing figure is debited to loss on redemption)

8 0

3 years ago

Companies striving for global market leadership pursue strategic alliances or collaborative partnerships with foreign companies

FrozenT [24]

Answer:

get into critical country markets quickly, gain inside knowledge about unfamiliar markets and cultures, and access valuable skills and competencies that are concentrated in particular geographic locations.

Explanation:

Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.

Some examples of international economic organizations involved in global economy and trade are;

I. World Trade Organization (WTO).

II. United Nations (UN).

III. International Monetary Fund (IMF).

IV. United Nations Conference on Trade and Development (UNCTAD).

When a company or business firm strive for global market leadership, its main focus would be to pursue strategic alliances or collaborative partnerships with foreign companies. This would enable it get into critical country markets quickly and effectively, it would also gain an inside knowledge and understanding about unfamiliar markets, consumer demographics and cultures, as well as getting hold of valuable skills and competencies that are concentrated in specific geographic locations in the world.

6 0

3 years ago