Answer:
(a) If the amount in Supplies Expense is the January 31 adjusting entry, and $850 of supplies was purchased in January, what was the balance in Supplies on January 1?
- supply balance January 31 + supplies expense - purchases = $700 + $950 - $850 = <u>$800</u>
(b) If the amount in Insurance Expense is the January 31 adjusting entry, and the original insurance premium was for one year, what was the total premium and when was the policy purchased?
- Insurance expense per month = $400 x 12 months = $4,800, beginning balance prepaid insurance January 1 = $2,800. This means that the insurance policy was purchased ($4,800 - $2,800) / $400 = 5 months before, this means it was purchased in <u>August, 2016</u>.
(c) If $2,500 of salaries was paid in January, what was the balance in Salaries and Wages Payable on December 31, 2016?
- wages payable on December 31, 2016 = salaries expenses + wages payable balance January 31, - paid salaries = $1,800 + $800 - $2,500 = <u>$100</u>
(d) If $1,600 was received in January for services performed in January, what was the balance in Unearned Service Revenue at December 31, 2016?
- unearned service revenue on December 31, 2016 = cash received for providing services - service revenue + unearned service revenue balance January 31 = $1,600 - $2,000 + $750 = <u>$350</u>
The correct answer to this question is "she forgot to start with the equals sign." <span>Ashley enters a formula in a cell in a spreadsheet and presses enter but instead of the answer, she sees b2 b3/c5. The mistake that she make is that </span><span>she forgot to start with the equals sign.</span>
Answer:
The capital market stakeholders and organisational stakeholders.
Explanation:
In this scenario William Ackman owned a large share of J.C. Penney stock, and also a member of the J.C. Penney board.
He had disclosed information about the company which was in breach of his boardroom duties.
There is a conflict for William in his roles as a capital market shareholder and a organisational stakeholders.
As a shareholder he has the freedom to disclose information about the company, but as a organisational stakeholders his obligation is to protect the company by not disclosing information about the CEO search and financial condition of the company.
Answer:
The correct answer is option C and D.
Explanation:
There are two approaches to calculate GDP.
- Income approach
- Expenditures approach
The income approach calculates GDP by looking at the factor incomes earned by the factors of production.
The expenditure approach looks at consumption expenditure, investment expenditure, government expenditure, and net exports to calculate GDP.
Based on the perpetual system, a buyer can incur cash freight costs if they transport <u>Inventory</u>.
<h3>How are freight costs treated?</h3>
The perpetual system allows for the buyer of inventory to record the freight cost for the merchandise in the inventory account.
This means that the freight cost will be capitalized and added to the cost of the inventory to recover the costs.
Find out more on the perpetual system at brainly.com/question/25014592.
#SPJ12
