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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)

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2 years ago
Which would have the smallest effect on the amount of money a candidate spends on a campaign?
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The number of opponents a canidate faces
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3 years ago
Pension plan assets were $1,200 million at the beginning of the year and $1,252 million at the end of the year. At the end of th
FromTheMoon [43]

Answer: 4%

Explanation:

From the question, we are informed that Pension plan assets were $1,200 million at the beginning of the year and $1,252 million at the end of the year and that at the end of the year, retiree benefits paid by the trustee were $28 million and cash invested in the pension fund was $32 million.

Based on the above scenario, the percentage rate of return on plan assets goes thus:

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Less :- retiree benefits = -28

Closing balance of plan assets = 1252

It should be noted that the actual return is the balancing figure which is calculated as:

= 1252 + 28 - 1200 - 32

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The percentage rate of return on plan assets will now be:

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3 years ago
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3 years ago
Your catering business sells luncheons and dinners. Luncheons are $1,000 each, and dinners are $2,000 each. You sold 300 meals i
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