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vlabodo [156]
3 years ago
14

The balance in the supplies account before adjustment at the end of the year is $873. The proper adjusting entry if the amount o

f supplies on hand at the end of the year is $270 would be
Business
1 answer:
yan [13]3 years ago
7 0

Answer:

Explanation:

The proper adjusting entry is as follows

Supplies expense A/c Dr $603

             To Supplies A/c $603

(Being supplies account is adjusted)

The supplies expense is computed by

= Supplies account balance - supplies on hand  at the end of the year

= $873 - $270

= $603

Basically we debited the supplies expense account and credited the supplies account so that the proper posting could be done.

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What is a Private Carrier?​ a. ​a trucking firm whose name does not appear on the equipment b. ​a trucking operation that only h
mina [271]

Answer:

The correct option is (b)

Explanation:

Private carrier is an organization that transports only the products produced by firm that own it.

Such organization's primary business activity is not transporting products from one place to another. In other words, these carriers do not transport goods of other companies.

Companies find having their own carriers cost effective as compared to hiring one.

Therefore, private carrier is a trucking operation that transports goods for the firm that owns it.

4 0
3 years ago
Company expects to sell 500 units during the second quarter and 550 units in the third quarter. Currently, during the second qua
FinnZ [79.3K]

Answer:

509 units

Explanation:

The expected sales in the present quarter is 500 units (for second quarter) and we have 46 units on hand.

We want a reserve of 10% during the next quarter.

The expected sales in next quarter is 550 units so reserve of 10% is

Reserve = 0.10 * 550= 55 units

Balance to produce this quarter= 500 - 46= 454 units

Total to produce= Balance produced + Reserve

Total to produce= 454 + 55= 509 units

7 0
3 years ago
Gar Co. factored its receivables without recourse with Ross Bank. Gar received cash as a result of this transaction, which is be
Thepotemich [5.8K]

Answer:

Answer for the following statement is "C"

Explanation:

  • Sale of Gar's receivable accounts to Ross, with the possibility of noncollectable accounts being passed to Ross.
  • Non-recourse factoring helps a corporation to offer its invoices to a component without any duty to accept unpaid invoices.
  • If consumers refuse to pay their bills or pay their invoices late, all damages are borne by the element, making the company unregulated.

7 0
3 years ago
The standard overhead applied is based on the ______ level of activity multiplied by the predetermined overhead rate.
Alina [70]

Answer: actual level

Explanation:

It should be noted that when determining the standard overhead cost rate, overhead costs have to be grouped into the fixed cost and the variable costs.

The standard overhead applied is based on the actual level of activity multiplied by the predetermined overhead rate.

4 0
3 years ago
Amanda, a florist, is the owner of Flush Inc. She receives a mail from Pluto Corp., a manufacturer of foam products, offering a
bearhunter [10]

Answer:

Sales promotion

Explanation:

From the question we are informed about Amanda, a florist, is the owner of Flush Inc. She receives a mail from Pluto Corp., a manufacturer of foam products, offering a water-soluble foam brick frequently used for arranging fresh flowers. According to the offer, if Amanda places an order with Pluto, she would be automatically registered to win $10,000 in a customer appreciation contest. This is an example of combining direct marketing with Sales promotion.

Direct marketing can be regarded as any marketing which is based on

direct communication as well as direct distribution of products to individual consumers, it's not carried it with help of third party like social media, texting campaigns or mass media.

Sales promotion can be regarded as a process involving persuasion of a potential customer so they can buy a product. Sales promotion is a technique suitable to be used in short-term tactic so that sales can be boosted, and usually target at consumers.

6 0
3 years ago
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