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ZanzabumX [31]
3 years ago
5

What is the correct entry for a $100 purchase of supplies on credit? A. Debit Cash: $100 & Credit Supplies: $100 B. Debit Ac

counts Payable: $100 & Credit Cash: $100 C. Debit Supplies: $100 & Credit Accounts Payable: $100 D. Debit Accounts Payable: $100 & Credit Supplies: $100 E. Debit Accounts Receivable: $100 & Credit Cash: $100
Business
1 answer:
Vsevolod [243]3 years ago
7 0

Answer:

c. Debit supplies $100 & Credit Account payable $100

Explanation:

Preparation of Journal entry for for a $100 purchase of supplies on credit

Since we were told that the amount of $100 purchased of supplies was made on credit which means that the correct entry will be :

Dr Supplies 100

Cr Account payable 100

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5 of 100
Ber [7]

The amount that Harry should pay for the investment is the present value of the net income discounted at the rate of return of 12% is equal to $270,000.

<h3>What do you mean by investment?</h3>

Investment refers to the dedication of an asset to acquire growth in value over a duration of time. In finance, the motive of making an investment is to generate a return from the invested asset.

As per the information,

The vacancy rate is given is 5%

The occupancy rate is 100 - 5= 95%

\rm\,The\,Net \,Income = Occupancy \, Rate \times Income - Expenses\\\\   \rm\,The\,Net \,Income =  (95\% \times 3,600 \times 12) - 8,640\\\\   \rm\,The\,Net \,Income =  \$32400

Now, if it is assumed that the income is earned forever, then the present value of the income will be

PV of net income = A/r

A- 32400 , r - 12%

                           \rm\,PV = \dfrac{32400}{0.12}\\\\\\PV = \$270000

Hence, The amount that Harry should pay for the investment is the present value of the net income discounted at the rate of return of 12% is equal to $270,000.

Learn more about investment:

brainly.com/question/24703884

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4 0
2 years ago
On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,914. Cash receipts yet to be de
Monica [59]

Answer: Reconciled ending balance of cash=$7,925

Explanation:

Bank reconciliation is used by companies to reconcile thier ledger balances and that of their bank's balance and to make necessary adjustments where necessary.

  BanK Reconcillation on August 31,     2021

Bank cash balance                    $6,012

add

Deposit outstanding                 +$3,308

deduct :

Checks outstanding                  -$1,395

Bank  balance reconciliation     $7,925

Company's book balance             $7,914.

add:

interest earned                             +  $43

deduct:

service fees                                    -  $32

Company balance reconciliation   $7,925

7 0
3 years ago
A business plan should generally project financial and operational aspects of the proposed business for the first six months. on
djyliett [7]
The right answer for the question that is being asked and shown above is that: "first six months. "<span>A business plan should generally project financial and operational aspects of the proposed business for the first six months.</span>
6 0
3 years ago
Dominique owns an international grocery store, the World Food Market, where customers can purchase foods and canned goods from o
Anarel [89]

Answer:

Import

Explanation:

Import is a way to introduce goods and services from the international market to the domestic market. Dominique owns an international grocery store where consumers can buy goods and services of different countries by just ordering them. So, in this case, Dominique is an importer, and the world food market is an example of a company that import.

7 0
2 years ago
A customer requirement from an online retail store is "timeliness of clothing delivery." Which of the following is most likely t
Savatey [412]

The thing that is likely to be the specific measure of timeliness regarding retail store is delivery in 7 days or less.

<h3>What is a retail store?</h3>

A retail store simply means a state where goods are sold to the final consumers.

In this case, the specific measure is about timeliness. Therefore, the customer will want the good as soon as possible.

Learn more about retail store on:

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6 0
2 years ago
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