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wlad13 [49]
3 years ago
6

A company had no office supplies available at the beginning of the year. During the year, the company purchased $290 worth of of

fice supplies. On December 31, $85 worth of office supplies remained. How much should the company report as office supplies expense for the year
Business
1 answer:
ANTONII [103]3 years ago
7 0

Answer:

Expensre for the year is $205

Explanation:

The cosumable equipment which offices uses regularly for professional working writing recording etc. Company holds it's inventory and record it transactions in office supplies account.

Beginning Supplies = $0

Purchases for the year = $290

Supplies at December 31 = $85

As we know

Ending Balance  = Beginning Balance + Purchases - Expense for the period

$85 = $0 + $290 - Expense for the period

$85 = $290 - Expense for the period

Expense for the period = $290 - $85 = $205

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Board members of a nonprofit organization are calculating the salary offer for a new ceo. the board wants to ensure the salary p
lesya692 [45]

Answer:

nonprofit distributing

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3 years ago
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Love Company’s accounting records show an after-closing balance of $42,100 in its Retained Earnings account on December 31, 2018
konstantin123 [22]

Answer and Explanation:

  • Closing Balance (Retained earning ) of 31 Dec 2018 is called Opening Balance of 1 Jan 2019 , i.e. $42,100
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Less: revenue during the year        $19,400

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4 0
3 years ago
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The kettle falls five case illustrate a weakness of a federal system in such a way that f<span>ederalism limits political power and that it depends on compliance of state.</span>
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Which of the following is false? Economists who advocate discretionary monetary policy argue that it is more likely to achieve t
just olya [345]

Answer: None of the above

Explanation:

All of the above are correct.

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