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spayn [35]
2 years ago
14

During a company's first year, the asset account, Office Supplies, was debited for $2,600 for the purchases of supplies. At year

-end, office supplies on hand were counted and determined to be $975. The proper adjusting entry crediting supplies and debiting supplies expense will
Business
1 answer:
Sauron [17]2 years ago
4 0

Answer:

Supplies Expense 1625 Dr

    Supplies Account   1625 Cr

Explanation:

First, we need to determine the supplies expense for the period. The supplies expense can be calculated by deducting the year end supplies balance from the supplies account balance.

The supplies expense = 2600 - 975 = $1625

The adjusting entry that will be made at the end of the period is,

Supplies Expense 1625 Dr

    Supplies Account   1625 Cr

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Which of the following statements accurately describes the economic policy of mercantilism?
labwork [276]

The best answer is letter a.<span> It downplayed the role of government in stimulating economic growth.</span>

>>The main goal of mercantilism was to increase a nation's wealth by imposing government regulation concerning all of the nation's commercial interests.
 It sticks to the belief that the national strength can be maximized by limiting imports<span> via </span>tariffs<span> and maximizing </span>exports.<span>

</span><span>

</span>
5 0
3 years ago
An investor invests $4,000 to buy 200 shares of Sand Corporation, which has an expected return of 24%; $2,000 to buy 100 shares
Anni [7]

Answer:

Expected return = 28%

Explanation:

given data

invests $4,000

share = 200

return = 24%

and

invests = $2000

share = 100

return = 18%

and

invest = $4,000

share = 400

return = 28%

to find out

expected return on this portfolio

solution

we know total investment is

Total investment = 4000+2000+4000

Total investment = 10000

and

Wt. of Sand Corporation shares in the total portfolio= \frac{4000}{10000} =  0.4

Wt. of Water Corporation shares in the total portfolio=\frac{2000}{10000} =  0.2

Wt. of Beach Corporation shares in the total portfolio=\frac{4000}{10000} =  0.4

and

Expected return on the given portfolio is

Expected return = 0.4 × 24% + 0.4 × 18% + 0.4 × 28%

Expected return = 28%

5 0
3 years ago
Perhaps ahead of the times, __________ warned of the dangers of the coalescing interests of the top leaders of business, politic
mylen [45]

It should be noted that Perhaps ahead of the times, Talcott Parsons warned of the dangers of the coalescing interests of the top leaders of business, politics, and the military.

<h3>Who is Talcott Parsons?</h3>

Talcott Parsons can be regarded as American sociologist which was famous for structural functionalism.

He stressed about  the dangers of the coalescing interests of the top leaders of business, politics.

Learn more about Talcott Parsons at;

brainly.com/question/917245

5 0
2 years ago
Read 2 more answers
Glavine Company issues 6,000 shares of its $5 par value common stock having a fair value of $25 per share and 9,000 shares of it
almond37 [142]

Answer:

                                                                                        $

Market value of common stocks   (6,000 x $25)  = 150,000

Market value of preferred stocks (9,000 x   $20) = 180,000

Market value of the company                                    330,000

Proceeds allocated to common stocks

= $150,000/$330,000 x $312,000

= $141,818

The correct answer is B

Explanation:

The market value of the company is the aggregate of market value of common stocks and market value of preferred stocks.The market value of each stock is equal to number of each stock outstanding multiplied by market price per share. Thus, the proceeds allocated to common stock equals the market value of equity divided by market value of the company multiplied by the lump sum.

4 0
3 years ago
Which of the following is not possible when recording a transaction?A. Liabilities increase and assets decrease.B. Stockholders'
Basile [38]

Answer:

Liabilities increase and assets decrease.

Hope this helps!

3 0
3 years ago
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