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Andrew [12]
3 years ago
10

Prior to recording adjusting entries, the Office Supplies account had a $379 debit balance. A physical count of the supplies sho

wed $104 of unused supplies available. The required adjusting entry is:
Business
1 answer:
White raven [17]3 years ago
6 0

Answer:

Debit Supplies expenses for $275

Office supplies for $275

Explanation:

Before the adjusting entry, the following adjustment has to be made first:

Ending balance of supplies that has not been adjusted = $379

Physical ending balance = $104

Amount of used supplies during the period = $379 - $104 = $275

This $275 will be recorded as supplies expense. Therefore, the adjusting entry will be as follows:

<u>Particulars                                      Dr ($)                Cr ($)  </u>

Supplies expenses                        275

Office supplies                                                         275

<em><u>(To record the supplies expense for the period.)              </u></em>

The above entries will then reduce enduing balance of supplies from $379 to $104.

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Financial accounting is the process of identifying, measuring, and communicating financial information about an economic entity
Anna007 [38]

Answer:

The correct answer is "financial information; economic entity; user groups; legal, economic political and social environment"

Explanation:

The four major elements of financial accounting​ are:

1. financial information: includes items such as management discussion, analysis, and reports.

2. economic entity: An economic entity is company actions that are separate from its owners and other entities, such as corporations and governmental​ organizations.

3. user groups: request business information of an economic entity.  Investors and financial​ analysts are user groups.

4. legal, economic political and social environment: influences the financial reporting process.

7 0
3 years ago
The current price of a stock is $50, the annual risk-free rate is 6%, and a 1-year call option with a strike price of $55 sells
Vlad [161]

Answer:

The value of the put option is;

e. $9.00

Explanation:

To determine the value of the put option can be expressed as;

C(t)-P(t)=S(t)-K.e^(-rt)

where;

C(t)=value of the call at time t

P(t)=value of the put at time t

S(t)=current price of the stock

K=strike price

r=annual risk free rate

t=duration of call option

In our case;

C(t)=$7.2

P(t)=unknown

S(t)=$50

K=$55

r=6%=6/100=0.06

t=1 year

replacing;

7.2-P=50-55×e^(-0.06×1)

7.2-P=50-(55×0.942)

7.2-P=50-51.797

P=51.797+7.2-50

P=$8.997 rounded off to 2 decimal places=$9.00

6 0
3 years ago
Classify technical education with example?​
german

Answer:

A kind of education which equips with skills that involve the use of practical approaches and other physical instruments in executing projects. Technical education is learning something about a specific work scientifically in detail and practical.

A few common examples include schools and education programs that focus on science and engineering, information and technology, architecture and design, business and fipnance, health and social services, education and child development, hospitality and tourism, or the fine and performing arts.

7 0
2 years ago
One positive side-effect of bipolar encoding is that a bipolar violation (two consecutive + pulses or two consecutive —pulses se
a_sh-v [17]

Answer:

See attachment below

Explanation:

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3 years ago
What is a companys obligation to contribute to the sustainability of natural resources
FrozenT [24]

Answer:

Companies have a corporate social responsibility towards their environment.

Explanation:

Corporate social responsibility implies that companies are expected to engage in industrial practices that would not result in harm to their environment. For example, the amount of carbon being released into the environment must be controlled as excessive release of carbon can be detrimental to health. It is also not right for waste to be discharged into the oceans because the health of the sea animals, the ocean itself and those who swim in it are at risk.

To promote sustainability, companies avoid practices that would eventually harm their environment. Abiding by these practices might take a longer route, but is eventually cost effective and beneficial.

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