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
faltersainse [42]
3 years ago
14

In February, X City ordered $550,000 of supplies. On March 17th it received all of the ordered supplies and an invoice of $551,0

00. Which of the following would be recorded upon receipt of the supplies and invoice?
A. Debit Budgetary Fund Balance -- Reserve for Encumbrances for $551,000.
B. Debit Budgetary Fund Balance -- Reserve for Encumbrances for $550,000.
C. Debit Encumbrances Control for $551,000.
D. Debit Encumbrances Control for $550,000.
Business
1 answer:
Neporo4naja [7]3 years ago
4 0

Answer:

B. Debit Budgetary Fund Balance -- Reserve for Encumbrances for $550,000.

Explanation:

X City made an order for goods worth $550,000 and when the goods were received the invoice states $551,000. The company should indicate in the invoice the correct amount received and work with that.

Reserve for encumbrances is an account that contains funds that have been reserved for a particular purpose. In this case since the order was made in February, the funds of $550,000 would have been put in this account.

On receipt of the goods we debit Budgetary Fund Balance -- Reserve for Encumbrances for $550,000 (the correct value of goods received).

You might be interested in
It is important when you first start using social media to create a trial because?
Scrat [10]
The correct option is D.
When one is about to start using a particular social media, it is needful that one first creates a trial for some important reasons. Firstly, creating a trial gives one the opportunity to become familiar with the program, so that one will know what using the media entails. Creating a trial also gives one the opportunity to decide whether the social media is fit for one's needs or not. During this period, one will surely make some mistakes, but their impacts will be minimized because one is just trying out the social media.
4 0
3 years ago
Which of these may be integrated with an electronic stability control (ESC) system
gulaghasi [49]

Answer:

ESC also integrates all-speed traction control, which senses drive-wheel slip under acceleration and individually brakes the slipping wheel or wheels, and/or reduces excess engine power, until control is regained.

Explanation:

(you never said the answer choices)

8 0
2 years ago
Actual sales volume for a period is 5,000 units. Budgeted sales volume is 4,500. Actual selling price per unit is $15 and budget
dlinn [17]

If the actual sales volume is 5000 units,budgeted sales volume is 4500, actual selling price be $15 per unit and the budgeted price per unit be $15.75 per unit then the sales price variance is -$3750.

Given that actual sales volume is 5000 units,budgeted sales volume is 4500 units, actual selling price be $15 per unit and budgeted price per unit be $15.75 per unit.

We are required to find the sales price variance of the data.

Actual Sales volume = 5,000 units

Budgeted sales volume = 4,500

Actual selling price per unit = $15

Planned selling price = $15.75

So, calculation of the sales price variance is given below:-

Sales variance =Actual quantity sold × (actual selling price - planned selling price)

=5000*(15-15.75)

=5000*(-0.75)

=-$3750

Hence if the actual sales volume is 5000 units,budgeted sales volume is 4500, actual selling price be $15 per unit and the budgeted price per unit be $15.75 then the sales price variance is -$3750.

Learn more about variance at brainly.com/question/15858152

#SPJ4

6 0
1 year ago
Which of the following is an example of a functional skill?
Verizon [17]

Answer:

The most basic of functional skills are those skills that we usually acquire in the first few years of life: walking, self-feeding, self-toileting, and making simple requests.

Explanation:

6 0
3 years ago
Read 2 more answers
Fatima is struggling in her job and is experiencing increased dissatisfaction. She related to you that her manager has been unfa
Akimi4 [234]

Answer:

C

Explanation:

Affective component is the feeling a person has towards a situation that result from his/her belief about a person or situation.

For instance: a person who works hard and believes hard work earns promotion may feel anger or frustration when he or she works but is not promoted and will be affected in this situation.

This reflects Fatima feeling towards her manager when her colleague who deserved less promotion than she did was promoted, she was affected when this happened which is why she doesn't like her manager.

3 0
3 years ago
Other questions:
  • How long before the date of a convention should committees normally be formed? A. Six weeks B. Three years C. Three months D. On
    5·1 answer
  • The development of a new information system is economically justified if the _____.
    8·1 answer
  • Howard's Supply Co. suffered a fire loss on April 20, 2021. The company's last physical inventory was taken January 30, 2021, at
    12·1 answer
  • Emma Pebble and Chase Stone formed a partnership in a landscape business. Under their arrangement, Emma actively manages the com
    10·1 answer
  • intext:"A company has 50,000 shares of common stock outstanding. The stockholders' equity applicable to common shares is $1,470,
    8·1 answer
  • Which of the following is an example of upward communication in an organization? a. Three administrative assistants meet to disc
    15·1 answer
  • Joseph is instructed by his employer, Helen, to go to the local donut shop during his lunch break and purchase six-dozen donuts
    5·1 answer
  • Corey, the chief financial officer of Maurectric Inc., an electronics company, is also an investor in the stockmarket. As the sh
    14·1 answer
  • PLEASE HELPP WITH CHEMISTRY
    14·1 answer
  • Think of an organization that you’re a part of. It could be a workplace, team, or club. Identify Schein’s four key elements in t
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!