1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gwar [14]
3 years ago
8

The Supplies account balance on February 1, 2016 was $2,000. During the month of February Bravo purchased $12,000 of supplies fo

r use in its operations. On February 29, Bravo warehouse chief inventoried supplies and determine the value on hand was $1,500. Use this information to prepare the General Journal entry (without explanation) for the required end of the month adjustment. If no entry is required then write "No Entry Required."
Business
1 answer:
saw5 [17]3 years ago
4 0

Answer:

Explanation:

Before passing the journal entry, first we have to compute the adjusted balance of the inventory which is shown below:

= Opening balance of inventory + purchase of inventory - the closing balance of inventory

= $2,000 + $12,000 - $1,500

= $12,500

Now the journal entry would be:

Supplies expense A/c Dr $12,500

     To Supplies A/c                          $12,500

(Being supplies account is adjusted)

You might be interested in
You’re a broker writing an mls policy for your firm. which would you likely want to include?
Svetradugi [14.3K]

You’re a broker writing an MLS policy for your firm.  When and if listing data should be submitted to you for approval, want to include it.

Some listing services offer more exposure to resellers and more options for agents to represent buyers. In return, both brokers receive a sales commission.MLS regulations permit MLS data to be made available to MLS on additional Her websites unless otherwise directed by MLS's administrator.

MLS enables agents and brokers within a particular market to exchange information about real estate listings. It's useful for home sellers because it helps expose properties to a wider audience.

Learn more about data  here: brainly.com/question/24309209

#SPJ4

5 0
1 year ago
Seth worked a summer job at a camp. His salary accumulated all summer and at the end of the summer he deposited $1890 in a savin
klemol [59]

Answer:

Total amount= $2,055.38

Explanation:

Simple interest is defined as the amount that a lender charges the borrower for the funds collected. The borrower pays back the principal collected and the interest to the lender.

Simple interest is calculated as principal multiplied by time multiplied by interest rate.

Interest= principal * time * rate

Interest= 1,890* 2.5* 0.035

Interest= $165.375

Therefore total amount of money in the account is

Total amount= principal + Interest

Total amount= 1890+ 165.375

Total amount= $2,055.375~ $2,055.38

4 0
3 years ago
Read 2 more answers
*Will mark for Brainliest if given the correct answer!*
Lesechka [4]

Answer:

G91.1

Explanation:

  • It is a billable code.
  • Simply it's too specific as there are unique ICD codes.
  • It can be used for reimbursement process at any cause.
3 0
2 years ago
Both, current assets and non-current assets should be reassessed in order to determine the market value of a business. Group of
Igoryamba

It is True, that both, current assets and non-current assets should be reassessed in order to determine the market value of a business.

<h3><u>What are current assets and non-current assets?</u></h3>
  • Short-term assets, or those that can be swiftly sold and utilised for a company's urgent requirements, are known as current assets. Non-current Assets are long-term and have an operational life of over a year.
  • Cash, marketable securities, inventories, and accounts receivable are a few examples of current assets. Long-term investments, real estate, PP&E, and trademarks are a few examples of noncurrent assets.
  • Noncurrent assets are often valued at cost minus depreciation whereas current assets are frequently valued at market pricing.
  • Profits from the sale of assets held for more than a year are subject to capital gains tax (noncurrent assets).

To view more questions on market value, refer to : brainly.com/question/15148120

#SPJ4

7 0
1 year ago
When an organization with a functional structure diversifies into related product-markets, it generally Multiple Choice maintain
dusya [7]

Answer:

B). Develops a divisional structure.

Explanation:

A functional organizational structure aims to bifurcate the teams or groups on the basis of the functional or specialized area of the employees while a divisional structure organizes the teams in different divisions as per market, product, etc. Therefore, when an organization having a functional structure begins to diversify into product-related markets, it usually develops a 'divisional structure' as it is now focusing on the organization of teams corresponding to the end product or service offered by the organization. Thus, <u>option B</u> is the correct answer.

4 0
3 years ago
Other questions:
  • Bismite Corporation purchases trees from Cheney lumber and processes them up to the splitoff point where two products (paper and
    15·1 answer
  • All else equal, a firm would prefer to have a higher gross margin. <br> a. True <br> b. False
    12·1 answer
  • In the late 1990s "mad cow" disease caused people to buy less beef. It also caused the EU to ban imported British beef and the B
    8·1 answer
  • Suppose that a 1-year zero-coupon bond with face value $100 currently sells at $89.75, while a 2-year zero sells at $79.88. You
    15·1 answer
  • Ursus, Inc., is considering a project that would have a ten-year life and would require a $3,330,000 investment in equipment. At
    15·1 answer
  • Suppose Amy currently allocates 25% of her portfolio to a diversified group of stocks and 75% of her portfolio to risk-free bond
    15·1 answer
  • Joaquin has $1,300 in the bank and has investments worth $4,000. He also has $7,000 worth of credit card debt. What is the total
    6·1 answer
  • 4. Ten bonds are purchased for $9,855.57. They are kept for 5 years and coupon payments are received at the end of each of the 5
    12·1 answer
  • The beginning inventory of BG Action Figures is understated by $7 million at December 31, 20x8. What is the effect on 20x8 cost
    10·1 answer
  • a hospital has not insured itself for malpractice claims with a third-party insurer. which of the following statements best expr
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!