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Zolol [24]
3 years ago
11

On October 10, a company paid $36,000 to a supplier. Of that amount, $6,000 was for supplies received on October 10 and $30,000

was for supplies that were purchased on account during September. The journal entry to record the $36,000 payment would include a debit to:
Business
1 answer:
Katena32 [7]3 years ago
5 0

Answer:

Debit to :

Supplies Inventory $6,000

Trade Payable $30,000

Explanation:

Here the $6,000 payment  will increase the Assets of Supplies Inventories and decrease the Assets of Cash. The $30,000 payment will decrease the Liability - Trade Payable and decrease the Assets of Cash.

The Journal is provided as follows :

<em>Supplies Inventory $6,000 (debit)</em>

<em>Trade Payable $30,000 (debit)</em>

<em>Cash $36,000 (credit)</em>

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Answer:

The low cost of labor in other countries around the globe is a factor that business must consider because they are impacted by:

the high cost of domestic labor.

Explanation:

An entity's ability to be globally competitive in the face of foreign manufacturers with low cost of labor is not helped by the high cost of domestic labor.  The cost of direct labor forms part of the computations for the cost of a product and its pricing.  Cheaper imports are more affordable to consumers than local products, thus causing consumers to prefer imports to domestic products.

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3 years ago
ALTOID CO. Balance Sheet At December 31, 2021 Assets: Cash $ 220 Short-term investments 550 Accounts receivable (net) 650 Invent
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Answer:

3.4

Explanation:

Current assets = Cash + Short-term investments + Accounts receivable (net) + Inventory

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Current ratio = Current assets / Current liabilities

Current ratio = $2,720 / $800

Current ratio = 3.4

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Bill currently uses his entire budget to purchase 5 cans of Pepsi and 3 hamburgers per week. The price of Pepsi is​ $1 per​ can,
FinnZ [79.3K]

Answer:

Option (B) is correct.

Explanation:

The utility maximization point for a consumer is as follows:

\frac{MU_x}{P_x}=\frac{MU_y}{P_y}

It is given that,

price of Pepsi(x) =​ $1 per can

price of a hamburger(y) =​ $2

Marginal utility from Pepsi =​ 4

Marginal utility from hamburgers = 6

Hence,

\frac{4}{1}>\frac{6}{2}

4 > 3

Therefore, it can be seen that the consumer's utility is not maximized at this point.

Law of diminishing marginal utility states that as the consumer consumes more and more quantity of goods then as a result the utility obtained from the consumption goes on diminishing.

So, there is a need to increase the quantity of Pepsi consumed and reducing the quantity of hamburgers consumed.

6 0
3 years ago
Prepare a bank reconciliation as of October 31 from the following information:
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Answer:

              Bank Reconciliation Statement as of October 31

Particulars                       Amount    Particulars                     Amount

Balance as per bank          $350      Balance as per books    $806

Add: Late deposit               $433      Less: Returned checks   $80

Less: Outstanding check    $66       Less: Error recordings    $9

          ($24+$42)                                           ($65-$56)

Reconciled Balance           $717        Reconciled Balance       $717

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3 years ago
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