Because there is so much unpredictability in all supply chains, companies must use Supply Chain Management to make supply chain decisions.
<h3 /><h3>Supply Chain Management: What Is It?</h3>
- All procedures that convert raw materials into finished commodities are included in supply chain management, which controls the movement of both goods and services.
- Because all supply chains are inherently unpredictable, businesses must employ supply chain management to make decisions about their supply chains.
- Businesses can reduce unnecessary expenses and deliver goods to customers more quickly and effectively by using supply chain management.
- Creating a strategy, locating raw materials, production, distribution, and returns are the top five aspects of supply chain management.
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Answer:
Date Accounts Titles & Explanation Debit Credit
Dec 31 Rent Expense $2,040
($6,120 *2/6)
Prepaid Rent $2,040
Dec 31 Deferred Revenue $525
Service Revenue $525
Dec 31 Salaries Expense $700
Salaries Payable $700
Dec 31 Supplies Expense $2,390
($3,100 - $710)
Supplies $2,390
Demon Deacons Corporation
Adjusted Trial balance
December 31, 2021
Accounts Debit$ Credit$
Cash 9,100
Account receivable 14,100
Prepaid rent 4080
Supplies 710
Deferred revenue 1,575
Salaries payable 700
Common stock 11,000
Retain earnings 5,100
Service revenue 45,245
Salaries expenses 31,200
Rent expenses 2,040
Supplies expenses <u>2,390</u> <u> </u>
Total $<u>63,620</u> $<u>63,620</u>
Prepaid rent = 6,120 - 2,040 = 4080
Supplies = 3100 - 2390 = 710
Deferred revenue = 2,100 - 525 = 1575
Answer:
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