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prohojiy [21]
3 years ago
12

he supplies account had a balance of $4,400 at the beginning of the year and was debited during the year for $2,400, representin

g the total of supplies purchased during the year. If $400 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year is
Business
1 answer:
nexus9112 [7]3 years ago
6 0

Answer:

$6,400

Explanation:

Financial Statements depicts the financial position of a firm at a particular point of time or specified date. The users of financial statements use various types of analysis to understand or compare the current financial statements of the company to prior years or with those of the competitors.

Supplies account is an asset account and has normal balance as debit balance. It increases with the purchase and decreases with the use of supplies.

Given:

Supplies (beginning) = $4,400

Purchased (supplies) = $2,400

Supplies (ending) = $400

Let supplies expense be x.

Now,

Supplies (ending) = Supplies (beginning) + Purchased (supplies) - Supplies expense

$400 = $4,400 + $2,400 - x

$400 = $6,800 - x

x = $6,800 - $400

Supplies expense = x = $6,400

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Answer: The monthly payment will be $2007.81.

We have:

Cost of the sports coupe (PV)                     $84,500

Annual Percentage Rate (APR)                         6.6%

Loan tenure in months (n)                                    48

We can find the monthly payment by using the Present value of an annuity formula:

\mathbf{PV_{Annuity}= PMT * \left ( \frac{1-(1+r)^{-n}}{r} \right )}

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\mathbf{84500 = PMT * \left ( \frac{1-(1+0.0055)^{-48}}{0.0055} \right )}

\mathbf{84500 = PMT * \left ( \frac{1-0.768529253}{0.0055} \right )}

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\mathbf{84500 = PMT * 42.08559028}

\mathbf{\frac{84500}{42.08559028}= PMT}

\mathbf{PMT = 2007.813112}



8 0
4 years ago
Imagine a company that sells hammers charges customers $10 for each hammer. To make the hammer the company spends $7 on input co
Luda [366]

Answer: Production Method

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The method that applies in this scenario is the production method. This method focuses on goods, by looking at its final value after deducting the input costs, also known as intermediate goods. Input costs (or intermediate goods) are the cost of materials that were used to make the final product, i.e. the production costs. Once the input costs are deducted from the total value of the goods , what remains becomes the actual income of the goods, the final cost, which is then added to GDP.

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A farmer sells $50,000 worth of apples to individuals who take them home to eat, $75,000 worth to a company that uses them all t
IrinaK [193]

Answer:

The answer is: $150,000

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The apples sold directly by the farmer to individual consumers and the apples the grocery store sells to households are both going to be included in the GDP.

The only apples not included in the GDP are the once sold to the company that produces apple juice, since they are intermediate goods and not finished goods.  

6 0
3 years ago
You discovered you can deduct medical expenses over 6% of your income. Your income is $42,000, and you had medical expenses of $
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3 years ago
"If the interest rate on a U.S. one-year bond is 2%, the interest rate on a Brazilian one-year bond is 8%, and the currency prem
cluponka [151]

3% is the answer.

<u>Explanation:</u>

The financial matters of market interest direct that when the request is high, costs rise and the cash acknowledges in esteem. Conversely, if a nation imports more than it sends out, there is generally less interest in its money, so costs should decrease.

On account of cash, it deteriorates or loses esteem. The stockpile of money is dictated by the local interest for imports from abroad. The more it imports the more noteworthy the inventory of pounds onto the outside trade advertise. An enormous extent of momentary exchange monetary standards is by sellers who work for money related organizations.

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