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kirza4 [7]
3 years ago
9

Sebadoah is a barber who does his own accounting for his shop. Sebadoah purchased $1,500 of supplies in January and his inventor

y at the end of January shows $300 of supplies remaining. What adjusting entry should Sebadoah make on January 31?
Business
1 answer:
FrozenT [24]3 years ago
4 0

Answer:

Supplies expense..............Dr     $1,200

Supplies                                                          $1,200

Explanation:

Supplies purchased is $1,500

Ending inventory of supplies = $300

Inventory used during the period = 1,500 - 300

                                                        = $1,200

The journal entry passed to record supplies used:

Particulars                                Debit        Credit

Supplies expense                    $1,200

Supplies                                                     $1,200

(To record supplies used during

the period)

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Increasing opportunity cost while moving along a production possibility frontier is due to
suter [353]

Answer:

The correct answer to this question is A) because resources are not equally good in each production activity.

Explanation:

PPS or Production possibility frontier ( which is often as production possibility curve ) shows the possible combinations( of two products or services) with maximum outputs that can be produced in an economy when all the available resources are fully and efficiently used.

The reason why opportunity cost is increased while moving along PPS is because when we increase the output of one good , that means we are allocating more resources towards this good ,that means we will be left with the fewer resources to carry out the production of other good , so therefore the opportunity cost would increase.

4 0
4 years ago
Similarities between single column cash book and double column cash book<br><br>​
AlexFokin [52]

Answer:

The answer is "The both cash book is used to store transactions are recorded"

Explanation:

Single and Double column cash book:

  • A single column cash book is also known as a basic cash book, which is primarily used to record a business cash transactions (both debit and credit sides), it has only a single cash column titled "number" that is annually counted and balanced like that of a T-account.
  • A double columns cash book is also known as the two columns cash book, which is used to store both debit, credit, and discount sides, in which one for reporting money transfers and another for recording bank transactions.
8 0
3 years ago
Read 2 more answers
A company purchased a weaving machine for $332,970. The machine has a useful life of 8 years and a residual value of $18,500. It
Vera_Pavlovna [14]

Answer:

$48,175

Explanation:

Given:

Cost of the weaving machine = $332,970

Useful life = 8 year or 767,000 bolts production

Residual value = $18,500

Number of bolts produced in the first year = 113,500

Number of bolts produced in the second year = 117,500

Now,

Using the units-of-production method of depreciation

Rate of depreciation = \frac{\textup{Cost - Residual value}}{\textup{Number of bolts produced during the useful life}}

= \frac{\textup{332,970-18,500}}{\textup{767,000}}

= 0.41

Therefore,

Depreciation for the second year

= Rate of depreciation × Number of bolts produced in the second year

= 0.41 × 117,500

= $48,175

6 0
3 years ago
Why might a profitable motel shut down in the long run if the land on which it is located becomes extremely valuable due to surr
myrzilka [38]

Answer:

The opportunity costs may be too high, and the motel may not yield high enough returns to offset them.

Opportunity costs is the money you do not earn for choosing one alternative investment or action over another. In this case, the cost of the land is probably very high and the motel (or any other business) might not be making as much money from their regular operations as they could from selling the land and using that money for another investment.

A business will shut down when their economic costs exceed their revenue.

8 0
3 years ago
Longley Trucking is issuing a 20-year bond with a $2,000 face value tomorrow. The issue is to pay an 8% coupon rate, because tha
Katen [24]

Answer:

Longly will receive $1,817.43 from selling the bond.

Explanation:

As the coupon rate is 8%; we have annual coupon payment = 2,000 x 8% = $160.

The price of the bond Longly will receive is equal to the present value of 20 annual coupon payment plus the present value of $2,000 face value repayment in 20 years time; with the two streams of cash flow discounting at the market rate at the date of issuing 9%; which is calculated as:

[ ( 160/9%) x [ 1 - 1.09^(-20) ] ] + ( 2,000 / 1.09^20 ) = $1,817.43.

So, the answer is $1,817.43.

7 0
3 years ago
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