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Gemiola [76]
3 years ago
15

At March 1, 2013, Minutemen Corp. had supplies on hand of $500. During the month, Minutemen purchased supplies of $1,200 and use

d supplies of $1,400. The March 31 adjusting journal entry should include a
Business
2 answers:
Degger [83]3 years ago
8 0

Answer:

Explanation:

Opening stock Mar 1 2013 $500

Purchases in the month. $1,200

Used stocks in the month. $1,400

Closing stock at 31st Mar $ 300

Inventory Account. Dr. Cr

Opening stock. 500

Purchases. 1,200

Used stock. 1,400

Closing bal c/d. 300

Total. 1,700. 1,700

Balance b/f. 300

Elan Coil [88]3 years ago
7 0

Answer:

Debit supplies expense  $1,400

Credit Supplies account  $1,400

Explanation:

The movement in supplies is as a result of purchases and sales during the period. While purchases increases the balance, sales reduces it.

On purchase of $1,200,

Debit Supplies account $1,200

Credit Bank/Cash account $1,200

On use of $1,400

Debit supplies expense  $1,400

Credit Supplies account  $1,400

This will ensure that the balance in the supplies account is $300 considering the opening balance, purchases and sales.

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Answer:

  • I think Ben should encourage the Senior Management to call a multidisciplynary meeting and do some research.

Explanation:

<em>I think Ben is right</em>. Even though the statement is technically correct, it may mislead customers.

Customers may interpret the phrase "<em>no sugar added</em>" as if the product did not contain any sugar.

Thus, customers interested in drinking beverages without sugar at all might think  they are "safe" consuming the smoothie beverage, when in reallity each <em>smoothie's bottle contains sugar 35 g of naturally occurring sugars from the fruit.</em>

Customers deserve to be certain on what they are buying, thus the labels must be a sincere help for them, and not ambiguos at all.

This is a "gray zone" and an example of what in ethics is called a dilema.

I think the decision should be shared by a wider team and based on some research.

I think Ben should encourage the Senior Management to call a multidisciplynary meeting, where the subject is widely discussed. Also, I would suggest Ben to do some research, look for precedents about labeling  in the industry, and try to learn the opinion of the FDA about this sensitive matter.

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3 years ago
Which of the following assets on a bank's balance sheet has the greatest liquidity risk?
Vika [28.1K]

Answer:

 D. 3.

Explanation:

A bank can have different types of assets, including physical assets, such as equipment and land; loans, including interest from consumer and business loans; reserves, or holdings of deposits of the central bank and vault cash; and investments, or securities.

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A sales associate wants to earn at least $90,000 next year. she plans that 60% of the income will come from listings sold and 40
Nataly [62]
60% of $90,000 is: 60/100*90,000=0.6*90,000=54,000
<span>So, the sales associate plans $64,000 from the total income to come from sold listings .
</span>40% of $90,000 is: 40/100*90,000=0.4*90,000=36,000
So, the sales associate plans $36,000 from the total income to come from sales made.
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3 years ago
The model whose goal is to eliminate waste while satisfying the customer and providing a positive return to the company is: Mult
ycow [4]

Answer:

The correct answer is letter "E": Lean business model.

Explanation:

The lean business model is a study that aims to improve the efficiency of a company. That can be achieved by implementing new practices to eliminate old, ineffective strategies, analyzing the company product mix to find out if unprofitable goods are being still produced or rearrange unit teams. Improving leadership skills, workers' commitment, and the institution's growth are some of the advantages of the lean business model.

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