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const2013 [10]
4 years ago
15

The balances in Sanchez Accounting Services' office supplies account on February 1 and February 28 were $800 and $400, respectiv

ely. If the office supplies expense for the month is $1,000, what amount of office supplies was purchased during February? A. $600 B. $1,400 C.$400 D. $1,200 E.$800
Business
1 answer:
riadik2000 [5.3K]4 years ago
5 0

Answer:

A. $ 600

Explanation:

Computation of office supplies purchases during February

The formula for calculating the purchases is:

Opening Inventory + Purchases - Expenses = ending inventory Supplies

$ 800 + Purchases - $ 1000 = $ 400

By solving the equation, the purchase value is calculated at $ 600

Another approach is to see that the change in supplies inventory balance is a reduction of $ 400, The expenses of $ 1000 is contributed by a reduction in supplies of $ 400 and the remaining balancing amount of $ 600 is the purchases

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JulsSmile [24]

Answer:

B. False

Explanation:

The days sales in receivable indicates the number of days in which a company receives the payments of its credit sales. A lower number indicates that the business collects the money faster and more efficiently. According to this, the statement is false because the days sales in receivable for baker sales is 35 and for xanadu company is 25 which means that xanadu company is having less difficulty in collecting the money.

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3 years ago
Read 2 more answers
Which of the following would be reported on a statement of cash flows as a financing​ activity?
vladimir1956 [14]

Answer:

C. Purchase of treasury stock

Explanation:

The purchase of treasury stock results in a change in the stockholder's equity and as such is recognized as a financing activity in the statement of cash flows.

For the other options, amortization expense is a non-cash item and is adjusted for in the net cash flows from operating activities.

Collection of notes receivable is a change in current assets hence it is reported under net cash flows from operating activities.

Sale of equipment is reported under net cash flows from investing activities.

Hence the right option is C. Purchase of treasury stock.

4 0
4 years ago
After the death of her husband, Gina Baker, 35, received a check for $350,000 from a life insurance company. Gina has two small
rosijanka [135]

Answer:

b. safety

Explanation:

"it wants to make sure are taken care of in the future"

This means it prefers a safety investment.

The beta of the investment should be lower to reduce the deviation from the expected market return

The liquidity is not as important right now as the children are young. Once they start highschool or collegue Gina will need to make higer withdrawals. Plus, she want's to look into the future, this also is a clear inshight that Gina do not require liquidity right now

The market risk a global variance Gina cannot reduce the risk inherent to the market.

The business failure would be associate with safety which is a most suitable term.

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3 years ago
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Naily [24]

Answer:

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3 years ago
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Korvikt [17]

Answer:

The correct answer is letter "D": support of middle managers.

Explanation:

The Human Resources (HR) department is in charge of the recruitment process in every organization. Though there might be some limits at the moment of selecting new personnel such as the resources of the company, if the job offered is attractive enough or not, and if the company has a good reputation that attracts qualified labor hand.

<em>Middle managers do not represent a major constraint at the moment of recruiting new employees. In most cases, they are the ones requesting for more workers in their departments.</em>

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3 years ago
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