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
Alpha Industries stock sold for $39 a share at the beginning of the year. During the year, the company paid a dividend of $3 a s
nadezda [96]

Answer: c. capital loss.

Explanation:

A capital loss refers to a scenario where the price of a security falls below the price at which it was purchased. This is what happened to the Alpha Industries stock above as the price dropped from $39 to $37 which led to a capital loss of $2.

The dividends paid seem to outweigh the capital loss but we cannot be certain of this unless we know the tax rate being applied to the dividends and because these are usually high, the after tax dividends might have been lower the capital loss of $2.

8 0
3 years ago
Momentous Occasions is a photography business that shoots videos at college parties. The freshman class pays​ $1,000 in advance
Viefleur [7K]

Answer:

a. Considering the $1,000 paid by the freshman class,

Revenue earned on April 2

Did the earnings occur on the same date the cash was received No

b. Considering the $4,100 paid by the sophomore class,

Revenue earned on April 2

Did the earnings occur on the same date the cash was received No

Explanation:

a. Considering the $1,000 paid by the freshman class, on what date was revenue earned? Did the earnings occur on the same date the cash was received?

Revenue According to IFRS 15 is earned when earnings occur on the same date the cash was received when Momentous Occasions (the entity) transferres goods or services to the customer ( freshman class)

Thus $1,000 paid by the freshman class on March 3 is a Deferred Revenue. Earnings did not occur on the same date the cash was received.

Revenue occured when  Momentous Occasions (the entity) transferred goods or services to freashman class on April 2

b. Considering the $4,100 paid by the sophomore class, on what date was the revenue earned? Did the earnings occur on the same date cash received?

Revenue According to IFRS 15 is earned when earnings occur on the same date the cash was received when Momentous Occasions (the entity) transferres goods or services to the customer ( freshman class)

Revenue occured when  Momentous Occasions (the entity) transferred goods or services to freashman class on April 2

The $4,100 paid by the sophomore class on February 28 is payment for services rendered by  Momentous Occasions on  party held on April 2.

Thus Earnings did not occur on the same date the cash was received.

5 0
2 years ago
Firms face competing pressures in the marketplace-how to achieve lower costs through proven approaches to production, while look
nignag [31]

Answer:

a. leverage skills and products associated with a firm's core competencies from one country to another.

Explanation:

Company A can still meet the demands of the local markets and the competitive pressures it is facing by utilizing its core competences and deploring its products internationally.  A hybrid of localization and international strategies would be more appropriate.  This hybrid approach will enable the company "to realize the full benefits from economies of scale and learning effects, without losing on location economies," as desired in the case study.

8 0
3 years ago
One of the best ways to overcome fear is to know what happens in a typical interview
docker41 [41]

Answer:true

Explanation:

8 0
3 years ago
interest cost (the increase in pension costs due to the passage of time), the expected return on plan assets (the amount that ma
marishachu [46]

Answer:

The change in operating income for GM is that the operating income will increase by the amount of other pension costs less expected returns.

However, this change will not affect the net income, as all the items will still be accounted for, accordingly.

Explanation:

GM's pension service cost is the present value of the amount that the GM is required by law to set aside annually to meet its employees' pension-benefits obligations.  The reason for the separation is that the service cost is a compensation cost, whereas other pension costs are financial costs and not compensation costs.  By this separation, the operating income of GM will increase.

3 0
2 years ago
Other questions:
  • If you had $1,000 to invest into the following funds, which one would have the highest value (not including any fees) at the end
    10·2 answers
  • Anya feels pressure to increase sales, so she decides to intentionally marks up the price on a new shipment of sweaters and then
    9·2 answers
  • A bank statement:
    15·1 answer
  • United Trans Service jet costs $ 55.000.000 and is expected to fly 500.000.000 miles during its 8​-year life. Residual value is
    6·1 answer
  • Zappos, the online shoe and clothing marketer, promises free shipping and free returns on any of its products, no questions aske
    13·1 answer
  • Present Value of Bonds Payable; Premium Moss Co. issued $100,000 of four-year, 12% bonds with interest payable semiannually, at
    9·1 answer
  • plies manufacturing overhead at the rate of $40 per machine hour. Budgeted machine hours for the current period were anticipated
    8·1 answer
  • Mabel is a single 40-year-old who has borrowed money on numerous occasions. Her payment record has been good, except she has bee
    5·1 answer
  • Who determines how much utility an individual will receive from consuming a good?
    14·1 answer
  • T-Shirt Enterprises is selling in a purely competitive market. Its output is 300 units, which sell for $1 each. At this level of
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!