Answer:
Debit - Supplies expense $4,200
Credit - Supplies $4,200
Explanation:
Adjusting entries are prepared to ensure that the revenue and expense recognition rules, are properly applied each accounting period.
Expenses are the outflows of assets or incurrence of liabilities during a period from delivering or producing goods or services. They are incurred in an attempt to produce revenues.
The principle says that expenses should be recognized in the same period as the revenues to which they relate.
According to this rule, we should use the next equation:
Supplies expense = supplies at the beginning of the period + supplies purchased - supplies balance at the end of the period
Supplies expense = $2,000 + $3,000 - $800
Supplies expense = $4,200
Adjusting entry:
Debit (expense account) - Supplies expense $4,200
Credit (asset account) - Supplies $4,200
The coupon rate is 4.29%.
FV = 1000
PMT = ?
N = 8
I = 5.10%
PV = -948
Inputting the above details on the calculator you can find PMT
$42.92 PMT(5.1%,8,-948,1000)
Alternatively, the PMT function in excel can also be used
Coupon Rate = 42.92/1000
= 4.29%
This gives you a coupon rate of 4.29%
Learn more about PMT here: brainly.com/question/24703884
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<span>The answer is that the government will be forced to spend $15,000,000.
government imposes a price floor on wheat at $5
there will be a surplus of $3,000,000
</span><span>the government will be forced to spend = $5 x $3,000,000 = $15,000,000</span>
