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:
Break even point in dollar sales = $1,050,000
Explanation:
Break Even Point in dollar sales = Fixed Cost/ Contribution margin percentage
Contribution margin percentage = (Contribution margin/ Sales) X 100
Here we have for the year 2017
Contribution margin = $194,750
Sales = $779,000
Contribution margin percentage = ($194,750/$779,000) X 100 = 25%
Break even point in dollar sales = Fixed Cost $262,500/25%
= $1,050,000
Answer:
Journal Entries are as follows.
Explanation:
1. Cash $25,000 (Debit)
Common Stock $ 25,000 (credit)
2. Wages $10,000 (debit)
Cash $10,000 (credit)
3. Land $ 50,000 (debit)
Common Stock $50,000 (credit)
4. Dividend Declared $ 1000 (debit)
Dividend Payable $ 1000 ( credit)
And
Dividend Payable $ 1000 ( debit)
Cash $ 1000 (credit)
5. Cash $ 3000 (debit)
Long Term Investment $ 3000 (credit)
6. Cash $ 20,000 (debit)
Sales $ 20,000 ( credit)
7. Inventory $2000 (debit)
Cash $ 2000 (credit)
8. Investment $ 6000 ( debit)
Cash $ 6000 (credit)
9. Bonds Payable $ 10,000 (debit)
Discount $ 1000 (credit) ( if there's any)
Common Stock $ 9,000 ( credit ) ( in case of discount)
10. Notes Payable $ 10,000 (debit)
Interest on Notes Payable $ 1,000 (debit) ( suppose there's interest of $ 1000 on $ 10,000 Notes Payable)
Cash $ 11,000 (credit)
Answer: Respect
Explanation:
Respect is something that human beings are taught from birth. It is an attitude and way of being that someone has where they show appreciation for others. A person who has respect treats everyone equally, does not seek humiliation but good treatment.
Respect leads to good integration, where regardless of the differences that a person may have, they can live harmoniously since there is a good deal above all else. Respect allows people to live quietly, where good treatment is one of its main characteristics.
In Rudolf's case, he is a person who maintains respect. He is someone who respects the culture of others and treats everyone equally. He does not seek conflict but a healthy environment where everyone can work harmoniously and this type of behavior lead others to have a good concept and admiration for it.
