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natima [27]
3 years ago
12

On-Time Truckers prepares monthly financial statements. On July 1, the Supplies account had a balance of $3,500. During July, ad

ditional supplies were purchased for $4,800 and that amount was debited to Supplies Expense. On July 31, a physical count of supplies revealed that there was $2,200 on hand.Prepare the adjusting journal entry that On-Time Truckers should make on July 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Business
1 answer:
serious [3.7K]3 years ago
7 0

Answer:

Explanation:

The adjusting entry is shown below:

Supplies expense A/c Dr  $6,100

              To supplies A/c  $6,100

(Being supplies account is adjusted)

The supplies expense is computed by

= Supplies beginning balance + purchase of supplies - supplies on hand

= $3,500 + $4,800 - $2,200

= $6,100

To find out the adjusting balance we added the purchase of supplies and deducted the supplies on hand from the beginning balance of supplies account

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Answer:

professionally managed and centrally coordinated marketing channels.

Explanation:

Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research. Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.

Vertical marketing systems used as a promotional and sales technique of goods and services by various business firms are best described as professionally managed and centrally coordinated marketing channels.

6 0
3 years ago
Skysong, Inc. reports the following for the month of June. Units Unit Cost Total Cost June 1 Inventory 250 $5 $ 1,250 12 Purchas
ziro4ka [17]

Answer:

Weighted average unit cost =  $8.78

Explanation:

<em>The weighted average method of inventory determines the average cost per unit of inventory each time a new batch is received. or every new batch received the average cost per unit is re-computed by dividing the total value of stock by the outstanding number of units.</em>

The explanation is completed using calculation below:

Total value of stock = (250× $5)   +  (500×$9) + (375 × 11)  = $9,875

Total units of stock = 250 + 500 + 375 = 1,125  units

Weighted average unit cost = Total value of stock / total units of stock

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5 0
3 years ago
This text appears and a Canamak's page of the local newspaper.One of the sentences is incorrect. Which corrected sentence would
Mama L [17]
Answer: option C.

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Answer:

If all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced

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The concept of production possibility curve shows the different commodities that can be produced in a given economy, given the prevailing level of technology, if all available resources are efficiently utilized.  The idea behind production possibility curve is that in other for in order to produce a particular commodity, the production of another commodity has to be scarified provided that i.e if all the resources of an economy are fully used, more of one item could be produced only if less of another item is produced  

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Sphinxa [80]

Answer:

Explanation:

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So the answer is A. give workers in a unionized firm the right to choose whether to join the union.

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