Answer:
Debit Supplies expense $4,900
Credit Supplies account $4,900
Explanation:
When supplies are purchased, the entries required includes a debit to supplies account, and a credit cash or accounts payable (depending on whether the purchase was done via cash or on account).
For supplies used up, Debit supplies expense and credit Supplies account. The movement in the supplies account over a period is as a result of purchases and use such that it may be expressed as
opening balance + purchases - supplies used = Closing balance
$1750 + $3,500 - supplies used = $350
Supplies used = $1750 + $3,500 - $350
= $4,900
Answer:
E. QD = 3530 - 155P for P < or = to $21 and QD = 1430 - 55P for P > $21.
Explanation:
United States domestic demand function is QDD = 1430 - 55P
Demand for wheat in China is QDC = 2100 - 100P.
The total demand function for U.S. wheat will be given by function:
QD = 3530 - 155P
Answer:
Medlock will receive $2,940
Explanation:
Credit terms of 2/10, n/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after sale with net credit period of 30 days.
According to given data
Sales = $3,000
As the payment is made within discount period, so discount will be availed
Discount = $3,000 x 2% = $60
Now deduct the discount from due balance to calculate the amount received.
Amount Received = $3,000 - $60 = $2,940
Answer:
1)
Debit Cash/Bank 27,000 (4,500 shares x $6 per share)
Credit Common Stock 13,500 (4,500 shares x $3 per share)
Credit Paid-In Capital in Excess of Stated Value—Common 13,500 (4,500 shares x $3 per share)
2)
Debit Cash/Bank 135,000 (4,500 shares x $30 per share)
Credit preferred Stock 135,000 (4,500 shares x $30 per share)
Explanation:
any issuing price of stock above par value will be credited in "Paid-In Capital in Excess of Stated Value—Common"
Answer:
A, the price of bond Bill and bond Ted will change by -9.35% and -15.87% respectively.
B. the price of bond Bill and Ted will change by 10.63% and 21.55% respectively.
Explanation:
