1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
valkas [14]
3 years ago
15

The Supplies account for Vulcan Cleaning Services had a debit balance of $200 at the beginning of the month. Additional supplies

of $1,400 were purchased during the month. A physical count of supplies revealed that $600 of supplies was still on hand at the end of the month. What was total Supplies expense for the month?
Business
1 answer:
dmitriy555 [2]3 years ago
7 0

Answer:

$1,000

Explanation:

Beginning balance in supplies account = $200

The supplies account is an asset account and ordinarily should have a debit balance. If additional supplies of $1,400 were purchased during the month, it goes into the account as a debit.

If at the end of the month, only $600 of supplies was still on hand total supplies expense

$200 + $1,400 - supplies expense = $600

supplies expense = $200 + $1,400 - $600

= $1,000

The supplies expense is debited when supplies are used and the corresponding credit goes to the supplies account.

You might be interested in
Cynthia works as a salesperson at an apparel showroom. A week ago, she met a customer who stated that a particular dress was qui
olasank [31]

Answer:

Assumptive close

Explanation:

  • Discount means cut off price

\boxed{\sf Discount=Sold\:Price-Cost\!Price}

Or simply

\\ \sf\longmapsto Discount=S.P-C.P

8 0
3 years ago
Multiple Choice Question Mahan Corporation expects total sales to increase by 20% over the next year. The corporation has no spa
AlekseyPX

Answer:

$48,000

Explanation:

The computation of the corporation debt is shown below:

Since the asset is increased by 20%

The present asset is $100,000

ANd, the increased assets is

= $100,000 + $100,000 × 0.20

= $100,000 + $20,000

= $120,000

Now the debt is

= $120,000 × 0.4

= $48,000

hence, the last option is correct

3 0
3 years ago
Department S had no work in process at the beginning of the period. 13,934 units of direct materials were added during the perio
love history [14]

Answer:

Option (B) is correct.

Explanation:

Equivalent units of production(EUP) - Materials:

= Transferred out + Ending balance

= 10,451 units × 100% + 3,483 units × 100%

= 10,451 + 3,483

= 13,934

Equivalent units of production(EUP) - conversion:

= Transferred out + Ending balance

= 10,451 units × 100% + 3,483 units × 36%

= 10,451 + 1,253.88

= 11,704.88

Material cost = \frac{Cost\ of\ direct\ material}{EUP\ material}\times units\ transferred\ out

Material cost = \frac{97,538}{13,934}\times 10,451

                      = 73,157

Conversion cost = \frac{Direct labor+overhead}{EUP\ conversion}\times units\ transferred\ out

Conversion cost = \frac{51,257+8,903}{11,705}\times 10,451

Conversion cost = \frac{60,160}{11,705}\times 10,451

                            = 53,715

Therefore,

Total cost of units completed during the period(10,451 units):

= Material cost + Conversion cost

= 73,157 + 53,715

= 126,872

5 0
3 years ago
What is the total annual dividend received from owning 75 shares of stock A, if Company A issues a $0.20 quarterly dividend to i
creativ13 [48]

The total annual dividend received is $60.

The computation of the total annual dividend is as follows:

Given that

There are 75 shares.

And, the quarterly dividend is $0.20.

So,

The annual dividend should be

= $0.20 × 4 quarters

= $0.80

Now the annual dividend is

= 75 shares × $0.80

= $60

Therefore we can conclude that the total annual dividend received is $60.

Learn more about the dividend here: brainly.com/question/13535979

8 0
3 years ago
Deere is a global manufacturer and distributor of agricultural, construction, and forestry equipment. Suppose it reported the fo
Sveta_85 [38]

Answer:

5.95

Explanation:

Deere inventory turnover for 2017 ratio is:

Formula for Inventory Turnover Ratio= Cost of Goods sold / Average Inventory

Where Average Inventory = (Previous Inventory + Current Inventory) / 2

= ($2,267 + $2,999) / 2

=$5,266 / 2

=$2,633

Average Inventory = $2,633

Therefore, Inventory Turnover Ratio =  $15,661 / $2,633 = 5.9479 = 5.95

Deere Inventory Turnover for 2017 Ratio is  5.95.

7 0
3 years ago
Other questions:
  • More and more companies are increasing their interactive marketing budgets. most of this investment will be made in:
    5·1 answer
  • Pakistan’s GDP in 2010, using the official exchange rate on 1/1/2010, is equal to $300 billion USD ($300,000,000,000). When 2010
    9·1 answer
  • During the employee selection process, the screening interview is often conducted by: the current workers in the applicant's dep
    9·1 answer
  • The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale
    7·1 answer
  • Even though copyrights are exclusive rights, US copyright law makes some exceptions. What should an individual do to use copyrig
    11·1 answer
  • What would the net value of a long straddle position be if the stock price at expiration is $35?
    6·1 answer
  • many companies provide office supplies for their employees use while on the job. imagine that you work for such a company. sever
    10·1 answer
  • Arguments that are proven to be well supported with evidence are called what?
    9·1 answer
  • Your sister turned 35 today, and she is planning to save $20,000 per year for retirement, with the first deposit to be made one
    7·1 answer
  • A $25,000 price tag on a new car is an example of money as
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!