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lara [203]
3 years ago
14

At the beginning of the​ month, supplies were $ 6 comma 000. During the​ month, $ 7 comma 000 of supplies were purchased. At​ mo

nth's end, 2 comma 000 of supplies are still on hand. What is the bullet adjusting​ entry? bullet ending balance in the Supplies​ account? ​First, prepare the adjusting journal entry for Supplies. ​ (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Date Accounts and Explanations Debit Credit The ending balance in the Supplies account was $ .
Business
1 answer:
Lena [83]3 years ago
6 0

Answer:

Adjusting Entry

Cost of goods sold (Dr.) $11,000

Beginning Inventory (Cr.) $6,000

Purchases (Cr.)   $5,000

Closing Entry

Ending Inventory (Dr.)  $2,000

Income Summary (Cr.)         $2,000

Explanation:

The adjusting entry is made by debiting cost of goods sold account which reflects the amount of inventory sold during the month and the entry is credited by beginning inventory of $6,000 and the remaining amount which is $5,000 is credited in purchases account.

The closing entry is made by debiting the ending inventory by the amount of $2,000 and Income Summary account is credited by the same amount to close the inventory account.

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Alfarsi Industries uses the net present value method to make investment decisions and requires a 15% annual return on all invest
My name is Ann [436]

Answer:

Net present value  $1,363.50

Explanation:

The computation of the net present value of B is shown below:

Year         Cash flows         PVIFA factor at 15%      Present value

0              -$15,600                  1                                -$15,600

1                   0                        0.8696                              0

2                  0                        0.7561                                0

3                25,800                0.6575                      $16,963.50

Net present value                                                   $1,363.50

3 0
3 years ago
The table below shows the expenditure components for the United States in 2015. Expenditures in the United States Expenditure Co
AlladinOne [14]

Answer:

a. $12,332.2 billion

b. $3218.9  billion

c. $3093.5 billion

d.  $18120.5 billion

Explanation:

a. The value of Consumption Expenditure = Sum of consumption expenditure on all goods and services

= $1,367.1 billion + $2,666 billion + $8,299.1 billion

= $12,332.2 billion

b. The value of Government Expenditure = Sum of expenditure by federal Government and State & Local government

= $1224.0 billion + $1994.9 billion

= $3218.9  billion

c. Gross Investment = Sum of investment and inventories

=Non-residential fixed investment +  Residential fixed investment + Change in private inventories

= $2336.2 billion + $645.4 billion + $111.9 billion

= $3093.5 billion

d. Nominal GDP = C + I + G + (X-M)

= $12332.2 billion + $3093.5 billion + $3218.9 billion + ($2264.9 billion - $2789 billion)

= $18120.5 billion

8 0
3 years ago
Just one more time :)
Black_prince [1.1K]

Answer:

for what?

Explanation:

7 0
3 years ago
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In the context of the BCG matrix, which of the following businesses would be classified as a dog? a. Bigs Steel, a metal manufac
pickupchik [31]

Answer:

<em>A. Big steel, a metal manufacturer that has negligible market share in a slow-growing industry</em>

Explanation:

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3 years ago
(TCO C) Oceanside bank converts a dollar of equity into 10 cents of net income and has $9.50 in assets per dollar of equity capi
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Answer:

7.02%

Explanation:

(0.10/9.5)/0.15 = 7.02%

7 0
2 years ago
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