1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
finlep [7]
3 years ago
6

A company's Office Supplies account shows a beginning balance of $720 and an ending balance of $640. If office supplies expense

for the year is $3,700, what amount of office supplies was purchased during the period
Business
1 answer:
Svetllana [295]3 years ago
3 0

Answer:

Purchases= $3,620

Explanation:

Giving the following information:

Beginning inventory= $720

Ending inventory= $640

Purchase= ?

Used in the period= $3,700

<u>To calculate the purchases, we need to use the following formula:</u>

Purchases= used in the period + desired ending inventory - beginning inventory

Purchases= 3,700 + 640 - 720

Purchases= $3,620

You might be interested in
The market value balance sheet for Scotty Inc. shows cash of $42,000, fixed assets of $319,000, and equity of $237,000. There ar
taurus [48]

Answer:

$30.57

Explanation:

Total assets = Cash + Fixed assets

Total assets = $42,000 + $319,000

Total assets = $361,000.

Total liabilities = Total assets - Equity

Total liabilities = $361,000 total assets - $237,000 equity

Total liabilities = $124,000

Total dividend payments in cash = 7500 shares * $1.03 dividend = $7,725.  So, cash will now be reduced by $34,275 ($42,000 - $7725)

So, total assets will be = $361,000 - $7725 = $353,275.

So, total equity will be = $353,275 - $124,000 = $229,275

The price tomorrow morning = New equity / Total shares

The price tomorrow morning = $229,275 / 7500 shares

The price tomorrow morning = $30.57

5 0
3 years ago
Monopolies can earn positive economic profits in the long run while monopolistically competitive firms cannot due to
inessss [21]

Answer:

barriers to entry in monopoly but not in monopolistic competition.

Explanation:

Imagine a situation where a monopolistically competitive firm is doing very well and is able to earn economic profit (profits higher than normal) in the short run. Since this company is earning higher than normal profits, other companies will enter the market and start competing against them hoping to get a piece of that abnormally high gain. As more competitors enter the market, economic profits will start to decrease until finally they are eliminated.

Since monopolies do not face competition, they can earn economic profits in the long run.  

4 0
3 years ago
Which is an example of a proprietorship?
Solnce55 [7]

"C is correct answer." Gloria's flower shop is an example of a proprietorship. "Hope it helped you!" "Have a great day!" "Thank you so much!"

7 0
3 years ago
Which economic activity is part of a government's fiscal policy?
blagie [28]

Answer:

D. Spending tax revenues

Explanation:

Fiscal policies are the actions of the executive wing of the government to alter its spending and taxation strategies to achieve macroeconomic objectives. Fiscal policies are the activities of adjusting government spending and taxation in the economy.  

The government receives data on the state of the economy from various agencies.  The government adjusts its spending and taxes to influence the level of economic activities to achieve steady growth and stable prices.

5 0
3 years ago
Read 2 more answers
Suppose that Italy and Germany both produce beer and stained glass. Italy's opportunity cost of producing a pane of stained glas
Dimas [21]

Answer:

Explanation: See attachment below

3 0
3 years ago
Read 2 more answers
Other questions:
  • The Admin at Universal Containers set up a Price Rule to override List Price with a discounted promotional price. The Price Acti
    12·1 answer
  • The extent of job creation and job destruction is:____________
    9·1 answer
  • Which of the following typically happens as prices for a good or service rises?a. suppliers leave the marketb. consumers seek mo
    12·1 answer
  • You can invest in taxable bonds that are paying a yield of 9.4 percent or a municipal bond paying a yield of 7.65 percent. Assum
    7·1 answer
  • Accounting standard-setters use the following process in establishing accounting standards
    6·1 answer
  • o test the validity of your selection device for widget makers, you have given it to the present widget makers in your company a
    12·2 answers
  • Since the middle of the 20th century, the international global business system has been shaped by global institutions. Countries
    10·1 answer
  • Successful differentiation allows a firm to Multiple Choice attract many more buyers by charging a lower price than rivals and t
    8·1 answer
  • You want to know if part time employees become more or less happy with their employment over time. Thus, you give a questionnair
    14·1 answer
  • Why is it important to track your income and your expenses?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!