Answer:
D) debit Supplies, $1,500; credit Supplies Expense, $1,500.
Explanation:
The first journal entry was:
Dr Supplies expense 4,000
Cr Cash 4,000
If at the end of the year the supplies inventory equals $1,500, then the supplies expense must decrease. Expenses have a debit balance, if we want to decrease them, we must credit them.
The adjusting entry would be:
Dr Supplies 1,500
Cr Supplies expense 1,500
This way the supplies account (asset) increases, while the expenses decrease.
Answer: • You should complete Match transactions first, then move on to Add transactions.
• You should match downloaded Bank Feed transactions to Invoice Payments, Sales Receipts, Deposits, or open invoices.
Explanation:
The statements regarding Bank Feed best practice workflows involves the matching of transaction first, after which the transactions can then be added.
Also, one should ensure that the Bank Feed transactions that are downloaded should be matched to to their respective book of account such as deposits, Invoice, Sales Receipts, etc.
Answer:
the correct answer is c. any intermediary between a manufacturer and end-user markets
Explanation:
a middleman makes it easier for the manufacturers and producers to reach their target markets without many difficulties. however, they keep a profit for themselves too, for the service they provide. this could increase the prices of the products.
Answer:
$120
Explanation:
The total revenue brought to the company by this employee is:
$350 + $250 = <em>$600</em>
Since he/she earns a 20% commission on the goods sold, this particular employee will receive:
$600 * 0.2 = $120
*0.2 is the multiplier when it's 20%
In other words, he/she earns $20 out of each $100 in sold goods. Since his/hers total sold goods consist out of 6 factors of $100, the same proportion will apply to the commision, that is $20 * 6 = $120.
