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Tpy6a [65]
3 years ago
9

On July 31, the bookkeeping account Supplies Inventory shows a debit balance of $1,000. A physical inventory taken on that date

indicates that $800 of supplies are on hand. What amount of supplies was used in July?
Business
1 answer:
Tanya [424]3 years ago
4 0

Answer:

$200

Explanation:

When Supplies inventory are purchased, a debit is posted to Supplies inventory and a credit to cash account or accounts payable.

As the inventories are used, debit Supplies expense and credit Supplies inventory account.

Given that $1,000 was the debit in the books and $800 per count, it means the books balance needs to be written down to the physical balance. The difference to be posted

= $1,000 - $800

= $200

This will be done by

Debit Supplies expense  $200

Credit Supplies Inventory  $200

Being entries to record inventory used in July

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"After a severe hurricane in South Carolina, the price of electric generators quadrupled. People living outside of South Carolin
Alona [7]

Answer:

Arbitrage

Explanation:

Arbitrage occurs when the same good sells for different prices at different market. This price difference allows market participants to earn riskless profit .

In this case, the generator is more expensive in South Carolina when compared with other places. Thus, in order to earn riskless profit, people would buy where it is cheaper and sell at South Carolina where it is more expensive.

Economic theory suggest that if this kind of buying continues, soon the prices would be the same in both markets .

I hope my answer helps you

5 0
3 years ago
Read 2 more answers
Suppose that a college physics experiment goes horribly wrong and releases an electronic pulse that renders all electronic equip
docker41 [41]

It will decrease because the marginal productivities of workers will decrease.  Diminishing marginal product occurs when the marginal product of an input goes down as the quantity of the input goes up.  The transformation in product resulting from employing one more unit of a particular input for instance, the change in output when a firm's labor is mark up from five to six units, assuming that the mass of other product are kept constant  is called The input of marginal product or marginal physical product.

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3 years ago
A mask company set up a hospitality tent outside the Olympics arena. Its goal was to eoncourage patrons to view it as an Olympic
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Answer: Ambush Marketing

Explanation:

The mask company is engaged in Ambush marketing in the Olympics event.

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3 0
3 years ago
Suppose that a jewelry store found that when it increased prices by 10 percent, sales revenue increased by 3 percent. Which of t
Anna11 [10]

Answer:

The correct answer is Demand is inelastic, but not perfectly.

Explanation:

Inelastic demand is that demand that is not very sensitive to a change in price. In this way, before a variation in the price the quantity demanded reacts in a less than proportional way. For example, if the price increases by 10% and in response the quantity demanded is reduced by less than 10%, then the demand is said to be inelastic.

The elasticity of demand, also known as the elasticity-price of demand, is defined as the percentage change of the quantity demanded before a percentage change in the price.

4 0
3 years ago
Eleni's landscaping company placed two orders. *The first order was for 13 bushes and 4 trees and totaled $487. *The second orde
Maksim231197 [3]

Answer:

Price of One Bush is $ 23

Explanation:

Suppose

bushes = B

trees = T

According to given condition:

13B + 4T = 487 (Eq: 1)

6B + 2T = 232 (Eq: 2)

Multiplying (Eq: 2) by 2

12B + 4T = 464 (Eq: 3)

Substractign (Eq: 3) from (Eq: 1)

13B + 4T - (12B + 4T) = 487 - 464

13B + 4T - 12B - 4T = 23

B = 23

By putting value of B in (Eq: 1)

(13 x 23) + 4T = 487

299 + 4T = 487

4T = 487 - 299

4T = 188

T = 188 / 4

T = 47

Price of One Bush = B = 23

5 0
3 years ago
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