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]
2 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]2 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
Suppose a self-regulating economy is in a recessionary gap at the time the Fed enacts expansionary monetary policy. Furthermore,
anzhelika [568]

The combination of expansionary monetary policy and a self-regulating economy will cause real GDP will rise to the level above natural real GDP and the recessionary gap would hence turn into an inflationary gap situation.

<h3>What do you mean by monetary policy?</h3>

Monetary Policy refers to the control of the quantity of money available in an economy through which new money is supplied.

The self-regulating economy experiences a recessionary gap. The real GDP is less than the level of natural real GDP. The gap is been corrected by the rightward shift in the short-run aggregate supply curve.

Due to interplay, real GDP will rise to the level above natural real GDP and the recessionary gap turn into an inflationary gap.

Learn more about Monetary policy here:

brainly.com/question/3817564

#SPJ1

8 0
2 years ago
Which of the following actions helps a company find the game plan for​ long-run survival and growth that makes the most sense gi
Papessa [141]

Answer: (D) Strategic planning

Explanation:

  The strategic planning is one of the business documenting process in which the various types of directions and suggestions are given to the small organization or the business.

The main objective of the strategic planning is that it helps in establishing the the actual direction to the companies for the long term goals and also helps in making various types of decisions.

According to the given question, the strategic planning is one of the type of action which is specifically taken by an organization that helps the growth o the company.  

 Therefore,  Option (D) is correct answer.  

 

4 0
3 years ago
Which of the following products is likely to require the most help from a sales person?
Nina [5.8K]

a house, duh, clothing can be hung and stored, potato chips are bagged, a magazine is almost useless, but a house needs plants trimmmed and rooms cleaned and taking care of bugs and such

7 0
3 years ago
Read 2 more answers
Gordon Industries has 6 percent coupon bonds outstanding with a face value of $1,000 and a market price of $959.21. The bonds pa
algol13

12.0 years will take for these bonds to mature.

What is a coupon in bonds?

The term "coupon," which is also sometimes referred to as "coupon payment," refers to the annual interest rate that is paid on a bond from the date of issuance until maturity. It is described as being a percentage of the bond's face value. When discussing coupons, the coupon rate is frequently employed.

How does coupon rate affect bond price?

The price of bonds is significantly influenced by the coupon rate on a bond in comparison to current market interest rates. Bond prices increase when a coupon is more than the current interest rate; prices decrease when a coupon is lower.

Learn more about coupon in bonds: brainly.com/question/22504216

#SPJ4

3 0
1 year ago
During the RFP stage, B2B buyers:
Thepotemich [5.8K]

Answer:

The correct answer is c. invite suppliers to bid on supplying what is requested.

Explanation:

B2B sales require special attention due to the profile of your buyer.

In this type of sale, buyers have a position much more linked to decision making, so they spend more time on a detailed and critical analysis of the proposal.

The B2B buyer chooses companies that allow the creation of strong business relationships, with a guarantee of supply and deadlines.

This is because B2B negotiations demand an effort, time and investment that, in case of any inconvenience, it can be difficult to recover and find a new supplier.

7 0
3 years ago
Other questions:
  • Paying attention to the trends that might impact your future career is called
    15·2 answers
  • How to supply and demand work together to determine price? In other words, what happens to both supply and demand when prices ri
    9·1 answer
  • Riley says that the present value of $700 one year from today if the interest rate is 6 percent isless than the present value of
    5·1 answer
  • Waterway Industries can produce 100 units of a component part with the following costs: Direct Materials $15800 Direct Labor 690
    10·1 answer
  • Why does actual group productivity never equal potential productivity?
    10·1 answer
  • Assume you have $2,000 in a savings account at the beginning of the year and the price level is equal to 100. If the price level
    6·1 answer
  • Consider the following production process for manufacturing biscuits. The first step of the process is mixing where all of the i
    8·1 answer
  • The June 1 work in process inventory consisted of 5,000 units with $16,000 in materials cost and $12,000 in conversion cost. The
    12·1 answer
  • A company begins operations in Year 1 and offers a one-year warranty on all products sold. Total appliance sales in Year 1 are $
    11·1 answer
  • Christian Company manufactures a part for its production cycle. The annual costs per unit for 5,000 units of the part are as fol
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!