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gtnhenbr [62]
3 years ago
12

Ignatenko Company purchased office supplies costing $5,000 and increased Supplies for the full amount. Supplies on hand at the e

nd of the accounting period were $1,300. The appropriate adjustment at the end of the period is _________.a. Supplies Expense $3,700Supplies $3,700 b. Supplies Expense $1,300 Supplies $1,300 c. Supplies $1,300 Supplies Expense $4,000 d. Supplies $3,700Supplies Expense $3,700
Business
1 answer:
Leto [7]3 years ago
6 0

Answer:

a. Supplies Expense $3,700Supplies $3,700

Explanation:

The entries required when supplies are purchased is

Debit Supplies account

Credit cash/accounts payable

At the point of use of these supplies, the entries required are

Debit  Supplies expense account

Credit supplies account

Hence the supplies used

= $5,000 - $1,300

= $3,700

Entries to be posted to adjust

Debit  Supplies expense account  $3,700

Credit supplies account      $3,700

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Assets Liabilities Net Worth Reserves $120,000 Checkable Deposits $300,000 Loans 140,000 Stock Shares 200,000 Securities 40,000
bulgar [2K]

Answer:

$300,000

Explanation:

Money Multiplier = 1 / Required Reserve Ratio

Money Multiplier = 1 / 0.20

Money Multiplier = 5

Reserve requirement will be 20% of $300,000 (Checkable Deposits)

Reserve requirement = $60,000

Excess Reserves = Reserve - Required Reserve

Excess Reserves = $120,000 - $60,000

Excess Reserves = $60,000

Expansion in loans and deposits will be: Excess reserves * money multiplier

= $60,000 * 5

= $300,000

So, if the original bank balance sheet was for the whole commercial banking system rather than a single bank, loans and deposits could have been expanded by a maximum of $300,000.

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3 years ago
The method of analyzing capital investment proposals that divides the average annual income by the initial investment is:a.accou
iren [92.7K]

Answer: Accounting rate of return

Explanation:

The accounting rate of return is the percentage rate of return that is expected on an asset or investment as compared to the initial investment cost of the investment.

In an accounting rate of return, the average revenue from an asset.is divided by the company's initial investment in order to derive the ratio or the return that can be gotten over the lifetime of the investment or asset. The accounting rate of return does not consider cash flows or the time value of money.

4 0
3 years ago
Read 2 more answers
Ken, whose primary job is supervising a small production group, is not getting cooperation from all members on the cross-functio
elena55 [62]

Answer:

Status differences.

Explanation:

Since Ken, whose primary job is supervising a small production group, isn't getting cooperation from all members on the cross-functional team he leads. In particular, Bethany, a senior marketing manager, seems to resist his direction and tries to influence team members to go in another direction. The source of conflict in this case may be status differences.

A status difference in workplaces occurs between various workers or employees as a result of perceived thought of being higher than the other employees because of factors such as educational background, qualifications, age, intelligence, gender etc.

Basically, the top executives or human resources managers in organizations should strive really hard to reduce status differences at workplace through counseling, because it inhibits growth and development.

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3 years ago
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Answer:

There is no enough information to answer this question

Explanation:

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3 years ago
Which of the following is a distinct advantage of exporting? A. Absolute control over operations in the foreign nation B. It may
victus00 [196]

Answer: B. It may help a firm achieve experience curve and location economies

Explanation: Exporting is defined as the act of conveying or sending commodities abroad or to another country, in the course of commerce. Exporting provides a distinct advantage to firms in that it helps them achieve experience curve (which posits that the more experience a business has in the production of product, the lower its costs in producing the product) and location economies (the production of a good or product under the most optimum settings that confers an added advantage in cost of productions over their competitors).

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