1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Princess Cruise Company (PCC) purchased a ship from Mitsubishi Heavy Industry. PCC owes Mitsubishi Heavy Industry 500 million ye
Illusion [34]

Answer:

Explanation:

a)

In  the case of forwarding hedge:

The future dollar cost will be = FX receiveable ÷ Foward exchange rate

= 500 million yen ÷ 110 yen/dollar

= $4.55 million

For money market hedge:

Present value of yen payable = 500 \ yen \div (1+ \dfrac{5}{100})

= \dfrac{500 \ yen }{1.06}

= 476.20 million yen

PCC would convert dollars to yens at the spot market rate and borrow yen such that it would get 500 million yen at maturity(i.e after one year)  for Mitsubishi to receive it.

Dollars needed to get these yen = 476.30 yen  ÷ 124 yen/dollar

= $3.84 million

Future Value of these dollars (for comparison with the foward market hedge) = $3.84 × (1 + 0.08)

= $4.15 million

Hence, the money market hedge is better as the dollar cost is lower than the forward market hedge to meet the obligation.

b)

On the maturity date, the spot rate is 110 yen/dollar  

Ad the strike price = 0.0081 /dollar

It is better for the company to go for the strike price due to the fact that it has a lower rate than the spot rate.

Now;

The premium amount = 500000000 yen × 0.014 dollar / yen

= 70000 dollars

However; the Future dollar-cost payable = 500000000 yen × 0.0081 dollar /yen

= 4050000 dollars

By applying option hedge, the total dollar cost required to meet the obligation = (4050000 + 70000) dollars

= 4120000 dollars

c)

The dollar cost needed from the option hedge required to matching the forward hedge is determined by subtracting it from the premium amount:

Thus;

for option hedge, dollar cost needed = (4550000 - 70000) dollars

= 4480000 dollars

The required future spot rate = 500000000/4480000

= 111.61 yen/dollar

As a result, at the future spot rate of 111.61 yen/dollar, PCC will be unconcerned about and indifferent about the option or forward hedge because the future dollar cost of meeting the obligation will be the same.

3 0
3 years ago
How do occupancy rate and potential gross rate relate​
Setler79 [48]

Explanation:

Occupancy rate is the ratio of rented or used space to the total amount of available space.

The potential gross rate is the total rental income a property can produce if all units were fully leased and rented at market rents with a zero vacancy rate.

They relate through that they both allow for renting?

3 0
3 years ago
What is the best example of a short-run adjustment?
k0ka [10]

Answer:

Short-run economics primarily affect price.

Explanation:

When demand decreases for any reason, prices go down in the short term. When demand spikes, prices go up. ... Long-run adjustments occur when sustained increases or decreases in demand cause a business to change its practices and can affect both price and the means of production.

8 0
3 years ago
Read 2 more answers
The MU/P ratio for good X is greater than the MU/P ratio for good Y. To achieve consumer equilibrium, the consumer reallocates d
uysha [10]

Answer:

Falls:rises.

Explanation:

The MU/P (Marginal Utility/Price) ratio for good X is greater than the MU/P (Marginal Utility/Price) ratio for good Y. To achieve consumer equilibrium, the consumer reallocates dollars from the purchase of good Y to the purchase of good X. If the law of diminishing marginal utility holds, the marginal utility of good X falls and the marginal utility of good Y rises.

The law of diminishing marginal utility states that as the unit of a good or service consumed by an individual increases, the additional satisfaction he or she derives from consuming additional units would start decreasing or diminishing as the units of good or service consumed increases.

Also, the marginal utility of goods and services is the additional satisfaction that a consumer derives from consuming or buying an additional unit of a good or service.

Hence, the marginal utility of good X falls and the marginal utility of good Y rises because the consumer no longer derive satisfaction or benefits (utility) from the consumption of good X while he would switch to good Y for satisfaction.

7 0
3 years ago
A relatively new type of very fast direct connection available to homes and businesses in areas where there is fiber-optic cabli
kotykmax [81]

A relatively new type of very fast direct connection available to homes and businesses in areas where there is fiber-optic cabling available all the way to the building is generically called fibr optic broadband.

Fibr optic broadband, from the name of its material uses fiber-optic cables guarantees faster and more stable and reliable connection compared to the DSL connection. Fibr connection can also cover far distances up to 100 kilometers compare to DSL connection which uses copper wire cable that has the limit of only 100 meters.

<span>Fibr optic broadband also assures more bandwidth and no lags when it comes to large data applications.</span>

4 0
3 years ago
Other questions:
  • A requirement that customers receive a receipt is an example​ of:
    5·1 answer
  • In business, a message written to right a wrong is called a claim. Straightforward claims are those where the receiver is expect
    9·1 answer
  • Suppose the U.S. Treasury announces plans to issue $50 billion of new bonds. Assuming the announcement was not expected, what ef
    6·1 answer
  • Which of these statements is most accurate regarding mortgage payments through the life of your loan?
    6·1 answer
  • For accounting errors, which of the below sentences is true?
    10·1 answer
  • According to the model developed in Chapter 3, when government spending increases and taxes increase by an equal amount:
    14·1 answer
  • Susan needs to communicate a denial of warranty work to a customer. Based on her conservations with the customer, Susan feels th
    13·1 answer
  • In the development stage, GoPro engineers and designers use a 3-D printer to turn an idea into a product ________ to check the d
    13·1 answer
  • Which of the following tips can help you avoid electrical
    7·1 answer
  • 2 points Time Remaining 5 minutes 36 seconds00:05:36 eBookItem 2 Time Remaining 5 minutes 36 seconds00:05:36 Brad proposed the p
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!