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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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Matt Newell, a former Air Force pilot, decides to operate a helicopter tour company to provide customers with breathtaking views
Keith_Richards [23]

Answer:

Labor

Explanation:

Factor of production: There are several resources that are required in the process of production or running any business to meet the required goal of the business.

There are four factor of production:

  • Land
  • Labor
  • Capital.
  • Entrepreneurship.

In the given case, Matt Newell is an Entrepreneur as he has started a new helicopter tour company, for which he acquired land and capital from the loan, however, he has not to manage labor for his business. Labor is essential to run any business.

4 0
2 years ago
All of these are true about feedback except
Svetach [21]
The answer is D. <span>. most companies recognize the need for organizational leaders to get feedback from their employees
For most companies, the upper management level employee rarely took any form of advice/feedback from lower level employees.
This is really dangerous for the well-being of the company because not only it cause resentment among them, it also make the company miss the chance to detect the fatal flaw that may exist in their operation</span>
3 0
3 years ago
stock sells for $100 rights-on, and the subscription price is $90. Ten rights are required to purchase one share. Tomorrow the s
m_a_m_a [10]

Answer:

$99.09

Explanation:

Calculation for What is Tricki's expected price when it begins trading ex-rights

Using this formula

Expected price=Stock rights-on- [ (Stock rights-on-Subscription price)÷(10 rights+ One share)]

Let plug in the formula

Expected price=$100-[($100-$90)÷(10+1)]

Expected price=$100-($10÷11)

Expected price=$100-$0.91

Expected price=$99.09

Therefore Tricki's expected price when it begins trading ex-rights will be $99.09

3 0
3 years ago
What is a mixed economy?
Jet001 [13]
 A mixed economy is <span>a system mixing private and public enterprises.</span>
5 0
3 years ago
Read 2 more answers
A taxpayer's spouse dies in August of the current year. Which of the following is the taxpayer's filing status for the current y
Nikitich [7]

Answer:

b. Married filling jointly

Explanation:

From the question we are informed about taxpayer's spouse who dies in August of the current year. In this case,

the taxpayer's filing status for the current year would be Married filling jointly. Joint return can be regarded as tax return which is been filed with the Internal Revenue Service by two married taxpayers that decide to have a filing status of "married filing jointly" or a widowed taxpayer that decide to have a filing status of " Qualifying Widow "A joint return give room for the

taxpayers to join their tax liability as well as report their income, credits and

deductions on the same joint return.

The joint return rates still validly

apply even two year after the death of a particular spouse, so far the

surviving spouse of the dead spouse does not remarry and still maintains a household as regards a dependent child.

4 0
3 years ago
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