Answer:
the amount of money that has to be paid to acquire a given product.
<em>I hope this helps! ^^</em>
<u>Calculation of adjusted balance for prepaid insurance at December 31, 2017:</u>
It is given that on December 31, 2017, before any year-end adjustments, Canterbury shoe repair's prepaid insurance account had a balance of $3,500. It was determined that $2,200 of the prepaid insurance had expired.
So the adjusted balance for prepaid insurance at December 31, 2017, shall be (3500-2200) = <u>$1,300</u>
Answer:
Correct option is (d)
Explanation:
Current liabilities are part of obligations of the organization that it needs to meet within one year. Current maturities of long term debt represents that part of long term debt such a bonds or loans that need to be paid of in the current financial year.
It is shown as a separate item in the balance sheet as it is paid off using highly liquid asset such as cash.
Answer:
A) Straight rebuy
Explanation:
Based on the information provided within the question it can be said that the purchasing process that Fred is using is called a Straight Rebuy. In a business context, this term refers to ordering supplies for the first time or as a reorder from a supplier from an approved list . This list contains suppliers that have been approved due to ease of use, good quality products, or low prices. Which in this case Grainger has all of these traits, which is why Fred prefers them.