Answer:
Dr supplies expense $4,100
Cr supplies $4,100
Explanation:
Supplies used in the year needs to be ascertained before any adjusting entry can be posted.
Supplies used=beginning supplies+purchases-ending supplies
beginning supplies is $3,690
purchases of supplies was $1,700
ending balance of supplies was $1,290
supplies used=$3,690+$1,700-$1,290=$ 4,100.00
The used portion of supplies would be debited to supplies expense while supplies inventory is credited with the same amount.
Answer:
$1,057.86
Explanation:
Payroll taxes include:
- Social security tax withholdings 6.2% (on the first $132,900 of wages paid) = 6.2% x $8,338 = $516.96
- Medicare tax withholding 1.45% = 1.45% x $8,338 = $120.90
- Federal unemployment taxes (FUTA) 0.6% = $7,000 x 0.6% = $42
- State unemployment taxes (SUTA) 5.4% = $7,000 x 5.4% = $378
total payroll taxes = $1,057.86
Answer:
Utility increases at a decreasing rate.
Explanation:
Utility is the total satisfaction derived from consumptjon.
The utility function measures the total satisfaction derived from consumptjon.
Utility increases at a decreasing rate.
This can be illustrated with an example.
Imagine I am coming from a desert with no access to drinking water. I am very thirsty. The satisfaction I would derive from the first cup of water would be the highest. After my first cup, the utility I would derive from other cups would be diminishing.
Answer
A. Currency exchange-Foreign money
B.Commodity Market-Raw, unprocessed goods
C.Stock Market -Shares in corporations
Explanation
Currency exchange market- this is market that deals with the exchange of foreign currencies where the participants members are able to buy and sell currencies. They are normally made of banks, commercial companies, Forex brokers and many other participants.
Commodity Market- This is a type of market where unprocessed materials are sold. Many producers buy the raw materials from these market for further processing.
Stock market- This is the market that deals with trading of shares. Sellers and buyers of stocks which is also called shares gather here. This normally happens that a certain company needs to raise a certain amount of money so the stock buyer will have bought a piece of that company.
Answer:
$80 per share.
Explanation:
Given: Dividend= $12.60
Rate of return= 15.75%
Now, finding the price per share.
Formula; Price per share= 
⇒ Price per share= 
⇒ Price per share= 
∴ Price per share= $80 per share.
Hence, price per share is $80 for Morristown Industries.
