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
lbvjy [14]
3 years ago
9

The office supplies account had a $240 debit balance on december 31, 2016. during 2017, $5,200 of office supplies are purchased.

a physical count of supplies at december 31, 2017, shows $440 of supplies available answers
Business
1 answer:
Trava [24]3 years ago
4 0
If you are looking for the adjusting entry at the end of the year, it would be:

 Office Supplies Expense 5000                Office Supplies 5000

The amount to be recorded is 5000 because:

Beginning supplies is $240

Then there is an additional supplies $5,200

So there is a total of 5,440 supplies.

But the ending inventory is $440.

Deduct the $440 from the $5440 which will give us $5,000. This is to make sure that the amount in the journal entry at the end of the year will be same with the physical count of the supplies.
You might be interested in
Which of the following statement shows the financial position of a business entity as on date
svlad2 [7]

Answer:

b) balance sheet

Explanation:

Balance sheet: The assets liabilities and stockholder equity are reported in the balance sheet. The accounting equation that is displayed  below is used in this:

Total assets = Total liabilities + stockholder equity

The balance sheet debit and credit side should always be equal and balanced.  

In addition, it is always prepared on the date specified plus it is also reflects the financial position, financial performance of the company.

8 0
4 years ago
Write an argumentative essay for or against setting long-term goals to land a dream job.
Kisachek [45]

Answer:

YOU SHOUKD PURUSE YOUR DREAMS GIRLL

Explanation:

7 0
3 years ago
In determining the dollar amount to use for operating assets in the return on investment (ROI) calculation, companies will gener
Irina-Kira [14]

Answer:

Option A is correct

Explanation:

Companies often use net book value or gross cost of the asset because<u> It is consistent with how assets are reported on the balance sheet</u>

7 0
4 years ago
10. In recent years, there has been an outcry against government
jonny [76]

Answer:

Three rules I will implement is :

1. Liberalization :

Under this, I will support the domestic industry by easing the business operation and making free the activities of business around the nation.

2. Privatization :

In this, I will privatize the market and hand majority of the resources to the private entrepreneurs so that employee and efficiency could be achieved.

3. Globalization :

Under this, I will ease out the foreign trade in the country.

3 0
3 years ago
Why might alexandria choose a local movie theater when she could see the same movies for less at a corporate establishment? gett
Crazy boy [7]
<span>Why might Alexandria choose a local movie theater when she could see the same movies for less at a corporate establishment? She prefers to support local business, even at an added cost. Not only does Alexandria want to support a local business, they are typically more friendly and thankful you are there supporting them against a corporate establishment. Due to being commonly, family owned, their expenses to survive are higher than those in the corporate world which reflects the increase in pricing for consumers. </span>
6 0
3 years ago
Read 2 more answers
Other questions:
  • Can someone help me please? I attached the question and table. THANKS!!
    10·1 answer
  • Sydney is an economist putting together an economic model to predict the outcome from particular causes and effects in the econo
    6·1 answer
  • When you exchange documents with your co-workers through organization-approved methods, this is considered __________?
    11·1 answer
  • Heather is an HR specialist at McCoy Manufacturing, where she is responsible for making sure HR policies and transactions delive
    9·1 answer
  • Which of the following directly influences an employee's voluntary behavior and performance?
    14·1 answer
  • All activities associated with the flow and transformation of goods and services from the raw material stage to the end user, to
    7·2 answers
  • An oligopolistic market structure is distinguished by several characteristics, one of which is either homogeneous or differentia
    9·1 answer
  • Hailey, Inc., has sales of $19,650, costs of $9,380, depreciation expense of $2,050, and interest expense of $1,540. Assume the
    10·1 answer
  • Identify the phase (Phillips, stagflation, or recovery) the economy is in, and suggest what change in aggregate demand or aggreg
    11·1 answer
  • The most important benefit of celebrating partnership success by ""telling your story"" is that it: A. Establishes connections b
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!