Answer:
Explanation:
The adjusting entries are shown below:
1. Insurance expense A/c Dr $1,200
To Prepaid insurance A/c $1,200
(Being prepaid insurance is adjusted)
2. Supplies expense A/c Dr $6,200
To supplies A/c $6,200
(Being supplies adjusted)
The supplies at the end of the year is computed below:
= Supplies account balance + purchase of supplies - available supplies
= $5,000 + $2,000 - $800
= $6,200
Paying all your bills on time
If you pay your bills on time consistently, your credit score will rise.
If you do not, your credit score will drop, and sooner or later they will not loan you anymore money
hope this helps
When resources are low, businesses know that they can increase their prices because people need them desperately.
The correct answer is True. When ownership of the items passes to the customer, revenue is realised. In addition to the requirements for determining when control transfers, a reporting entity must also satisfy certain additional requirements for a customer to have achieved control in a bill-and-hold arrangement.
A bill and hold sales arrangement allows for payment in advance of the item's delivery. This is a sales agreement when a product seller invoices a consumer up front but doesn't actually ship the thing until later.
In a bill and hold transaction, the vendor does not deliver the purchased goods to the customer, but the associated income is still recorded. Under this structure, revenue cannot be recognised until a number of severe requirements have been satisfied. The possibility of falsely recognising revenue too early exists otherwise.
To learn more on bill and hold arrangement
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Answer:
D. $10,000
Explanation:
The answer is D because as you earn $50,000 every year, and for the next year the tax rate is 20%, 20% of $50,000 is $10,000. Hope it helps!