Answer:
Supplies should be recorded as an expense when it is used up during an accounting period.
Explanation:
Supplies which is also refers to as office supplies can be described as consumables and equipment which are used from time to time by company. Examples of office supplies include printer paper, pencils, notebooks, binders, pens and among others.
When supplies are bought before they are used, they are recorded as office supplies by adding them to office supplies on hand at the beginning of to obtain total supplies for an accounting period under the current asset in the balance sheet. Any part of the office supplies used up during an accounting period is recorded an expense during that accounting period in the income statement. The part used is deducted from the total supplies obtained supplies on hand at the an accounting period to be recorded under the current asset in the balance sheet.
Therefore, supplies should be recorded as an expense when it is used up during an accounting period.
Answer:
D. Conviction of a felony.
Explanation:
The basis for the suspension is the <u>Conviction of a felony</u>. As common, significantly more severe the violation, that has more severe the penalty. As an illustration but observed guilty of a misbehavior violation, thou may only have to give a penalty. If a court declares a felony conviction after that you may be inspecting various years in the penitentiary. Remaining convicted concerning a felony is a dangerous matter.
Flexible exchange rate systems are calculated according to supply and demand. Every currency decides the type of exchange rate arrangement to uphold.
Answer:
Bonita’s break-even point in units for 2020 is 812.50 units.
Explanation:
Break-even point in units refers to the number of units of commodity that must sold by a company in order for its cost to be equal to revenue and therefore make no profit but also no loss. This can be determined for Bonita Industries as follows:
Selling price in 2020 = Selling price in 2019 * (100% - Percentage cut in selling price) = $1,000 * (100% - 40%) = $1,000 * 96% = $960
Variable expenses = $700
Fixed expenses = $780,000
Contribution per unit = Selling price in 2020 - Variable expenses = $960 - $700 = $260
Bonita’s break-even point in units for 2020 = Fixed expenses / Contribution per unit = $780,000 / $960 = 812.50 units
Therefore, Bonita’s break-even point in units for 2020 is 812.50 units.
Answer:B. Amanda must advise Sean and Dianne promptly of the inaccuracy and the consequences provided by Internal Revenue Code and Regulations.
Explanation:
Sean and Dianne have probably engaged Amanda at the end of the tax year and they are to face implications of the transactions as it relates to tax matters, Amanda is to provide them with legislation in relation to the matter to educate them in future tax transactions.
