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shtirl [24]
3 years ago
12

Bravo company had $5,100 of supplies on hand at the beginning of 2016. on march 31 bravo purchased an additional $12,400 of supp

lies. on december 31, a physical count of revealed a total of $6,100 of supplies on hand. what dollar value of supplies expense will be reported in the annual financial statements? acct 220
Business
2 answers:
lana66690 [7]3 years ago
8 0
Supplies expense is $11,400.00.

Expenses = Beg Inv + Addl Inv - Remaining
                 = 5,100 + 12,400 - 6,100
                 = 11,400
WARRIOR [948]3 years ago
7 0

Answer:

The value of supplies expense that will be reported in the annual financial statement is $11400.

Explanation:

The supplies expense that would be reported is calculated as the amount of supplies consumed during the period. The amount of supplies consumed is the difference between the supplies available for consumption less the ending value of supplies on hand.

Supplies available for consumption = Opening inventory of Supplies + Purchases of Supplies

Supplies available for consumption = 5100 + 12400 = $17500

Supplies expense = 17500  -  6100  = $11400

The entry to record supplies expense for the year will be,

Supplies expense     11400 Dr

    Supplies account     11400 Cr

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3 0
3 years ago
In three years, when he is discharged from the Air Force, Steve wants to buy an 8,000 power boat.
eduard

Steve will get $11360 with the process of simple interest.

<h3>what is simple interest?</h3>

Simple interest is calculated based on a loan's principal or the initial deposit into a savings account. Simple interest doesn't compound, therefore a creditor will only charge interest on the principal sum, and a borrower will never be required to pay further interest on the interest that has already accrued.

Rate of interest = 14%

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Simple interest

=\frac{8000 \times 3 \times 14}{100}\\=3360

Now principal + interest = 8000+3360 = 11360

Therefore, Steve will get $11360.

To learn more about simple interest from the given link

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4 0
2 years ago
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Marina86 [1]

Answer:

A. Consider all indirect manufacturing costs

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So let us note what we have to do:
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3 years ago
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