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KatRina [158]
3 years ago
11

"during its first year of business, xyz inc. purchased $1,600 of supplies. by the end of the year, only $500 of supplies remain

in the supply cabinet. determine the amount to be reported in the supplies account in the adjusted trial balance section of the worksheet prepared on december 31."
Business
1 answer:
algol [13]3 years ago
6 0

The correct answer is $500.

An adjusted trail balance is prepared at the end of the accounting period. On this statement you will have what the value of the supplies in inventory is on the last day of the accounting cycle. In this example there are $500 worth of supplies left, which is why it is the correct answer.

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NeTakaya

Answer:

The journal entry for the issuance and the proceeds of the note is shown below:

Explanation:

Cash A/c.........................Dr   $600,000

    Notes Payable A/c......Cr  $600,000

The givens company received a amount of $600,000 from the bank, so cash is increasing and increase in cash is debited. Therefore, the cash account is debited. Whereas, the cash against a note payable, which increases the liability and any increase in liability is credited. Therefore, notes payable is credited.

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2 years ago
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Svetllana [295]

Answer:

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Explanation:

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7 0
3 years ago
In its third year, a project is expected to generate earnings before interest, taxes, depreciation, and amortization of $283,104
Lesechka [4]

Answer:

$195,751

Explanation:

Calculation for the project's expected operating cash flow

The first step will be to find the EBIT

using this formula

EBIT =(Earnings before interest, taxes, depreciation, and amortization -Depreciation expense)

Let plug in the formula

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Second step is to find the NOPAT using this formula

NOPAT = EBIT(1- tax rate)

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Let plug in the formula

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Therefore the project's expected operating cash flow will be $195,751

3 0
2 years ago
Price is taken to be a given by an individual firm selling in a purely competitive market because.
snow_tiger [21]

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Learn more about Purely competitive market:

brainly.com/question/15176320

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