The correct answer is $500.
An adjusted trail balance is prepared at the end of the accounting period. On this statement you will have what the value of the supplies in inventory is on the last day of the accounting cycle. In this example there are $500 worth of supplies left, which is why it is the correct answer.
Answer:
-2
Explanation:
To find the cross price elasticity between to goods, we use this formula:
Cross Price Elasticity of Demand = % change in quantity demanded of good 1 / % change in the price of good 2
Now, we plug the amounts into the formula
Cross Price Elasticity of Demand = -50% / 25%
= -2
Answer: The management requires the overhead rates before the end of the year
Explanation:
The overhead rates are used because the management requires the overhead rates before the end of the year and the predetermined overhead rates are helpful in keeping records very well. The overhead rates are more accurate in results also.
