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Firdavs [7]
3 years ago
12

The policy at Sunland Company is to expense all office supplies at the time of purchase. On the last day of the accounting perio

d, there are $1060 of unused office supplies on hand and the balance of supplies expense is $3360. What should the accountant do?
Business
1 answer:
Step2247 [10]3 years ago
7 0

Answer:

debit Supplies and credit Supplies Expense for $1,060

Explanation:

Based on the information provided within the question it can be said that the best option in this scenario would be to debit Supplies and credit Supplies Expense for $1,060. Since the policy states that they need to expense all office supplies then they must do that, but since they still have $1060 which they do not have then they will need to credit that supply expense and pay it back later.

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<u>Explanation: </u>

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6 0
3 years ago
Assume Gillette Corporation will pay an annual dividend of 0.61 one year from now. Analysts expect this dividend to grow at 11.5
SashulF [63]

Answer:

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8 0
1 year ago
1 if we want to fill the post, we'll have to........ ........ a qualified technician
KATRIN_1 [288]

Answer:

1. hire

2. charges

3. get

4. support

5. mentioned

6. all

Explanation:

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5 0
2 years ago
Loc Nguyen sold his personally owned boat for $6,000. Loc is not self-employed and he did not have any outstanding loans on the
lesantik [10]

Question Completion with options:

Select one:

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Answer:

Loc Nguyen should:

b. Include the $5,000 as a capital gain on Schedule D.

Explanation:

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3 0
3 years ago
What is the difference between a debit card and a cash card? A. A debit card is less secure than a cash card.  B. A cash card c
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Answer:

C. A cash card is not tied to a bank account.

Explanation:

3 0
3 years ago
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