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Vlad [161]
2 years ago
5

A company is in its first month of operations. Supplies worth $4,000 were purchased on January 5. At the end of the month suppli

es worth $3,000 were in hand. What adjusting entry would be made at the end of January? Post the adjusting entry for the scenario provided. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Business
1 answer:
never [62]2 years ago
6 0

Answer:

Explanation:

The adjusting entry is shown below:

Supplies expense A/c Dr $1,000

       To Supplies A/c                       $1,000

(Being supplies are adjusted)

Since in the question, it is given that the supplies were purchased at $4,000 and in hand it was $3,000 so, the remaining balance i.e $1,000 ($4,000 - $3,000) would be adjusted to the supplies expense account.

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Firms prefer FDI to licensing because FDI_____.
Neko [114]

Answer:

B) provides the firm with direct ownership to its foreign assets

Explanation:

When a multinational enterprise (MNE) is considering investing in foreign country they usually decide to do it through foreign direct investment (FDI). They do this because FDI ensures that the MNE is the direct owner of the assets and can freely decide what to do with them.

5 0
3 years ago
Swifty Company reports the following operating results for the month of August: sales $315,000 (units 5,000); variable costs $21
Sloan [31]

Answer:

Net income to be earned =   $58,500

Explanation:

The net income to be earned can determined as follows:

<em>Net income = (sales value - Variable costs) - Fixed costs</em>

With an increase in selling price by 10%, the total sales value would now be

Total sales value = 110% × 315,000 =$346,500

Net income therefore would be

                    = (346,500 - 218,000) - 70,000

                  =   $58,500

Not that the fixed cost will not change because it is independent of volume and also the variable cost has been  stated to remain the same.

4 0
3 years ago
If I am convinced that my own neighborhood is safer than it used to be, but that the crime rate in my society is at an all-time
Vlada [557]

Answer:

A) Probability neglect

Explanation:

You probably have lived there so long that you neglect to see what the true crime is, and you honestly could care less if its at it all time high

3 0
2 years ago
Read 2 more answers
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $420,000; Allowance for Doub
Fiesta28 [93]

Answer and Explanation:

The computation is shown below:

a. Amount of adjusting entry for uncollectible accounts

= Estimated balance of Allowance for Doubtful Accounts + debit balance

= $16,400 + $4,000

= $20,400

b. Adjusted balances

For account receivable

= account receivable

= $420,000

For allowance for doubtful debts

= Estimated amount

= $16,400

For bad debts

= AMount of adjusting entry

= $20,400

c. Net realizable value

= Account receivable balance - estimated balance of Allowance for Doubtful Accounts

= $420,000 - $16,400

= $403,600

8 0
3 years ago
Project risk is lowest during the: Finish phase of the project life cycle. Conceive phase of the project life cycle. Develop pha
olchik [2.2K]

Answer:

Finish phase of the project life cycle.

Explanation:

The finish phase (or termination, or completion phase) of a project life cycle is basically when the project is completed and it is being delivered to the customer. Depending on the project, paperwork and documents are handed out to the customer, contracts with workers and suppliers are terminated. Everyone involved with the project must be notified about its completion and all obligations are paid for.

5 0
2 years ago
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