Explain the first rule of safety at work.

. A purchase of supplies for $500 on account was recorded and posted as a debit to Supplies for $200 and as a credit to Accounts

NISA [10]

Answer: Debit to supplies $300; Debit to Accounts Receivable $200; Credit to cash or accounts payable $500

Explanation: Supplies are inventories of an organisation. Tgey are components of current assets and have a debit balance.

When supplies are purchased, current assets are to be debited to increase the asset.

Depending on the means of purchase either cash or on credit. The credit entry will be passed according. If cash was paid for the supplies, cash is a current asset hence it is credited with the actual amount paid for the supplies inorder to reduce it.

However, if the supplies were bought on credit, accounts payables will be credited. Accounts payables is a liability account that has a credit balance. As such, to increase your liability, you credit it.

5 0

3 years ago

Your Competitive Intelligence team is predicting that the Chester Company will invest in adding capacity to their Cell product t

creativ13 [48]

Question Completion:

Figures in thousands (000):

Product Segment Capacity Next Round

Dug Core 1200

Dune Core 1450

Beetle Core 1040

Bat Core 1050

New Core 100

Adam Core 1200

Answer:

Chester Company

Competitive Intelligence Report:

Based on the increased 10% capacity, the industry can produce 6,644 units.

Explanation:

a) Data and Calculations:

Product Segment Capacity Next Round Increased Capacity (1.1)

Dug Core 1,200 1,320

Dune Core 1,450 1,595

Beetle Core 1,040 1,144

Bat Core 1,050 1,155

New Core 100 110

Adam Core 1,200 1,320

Total 6,040 6,644

b) Each of the core segment products can be increased by the increased capacity factor of 1.10 (1 + i), where "i" is the rate of capacity increase. Alternatively, the total capacity in the current period can be increased by the increased capacity factor. Either way, produces the same result of an increased capacity of 6,644 units that the industry can produce. The result also shows that the options provided in the question are not correct. They must have been based on other assumptions.

7 0

3 years ago

Please help me I need this point

schepotkina [342]

Answer:

ok

Explanation:

7 0

3 years ago

A company sells 15,000 units of its single product annually. Annual revenues are $450,000, variable costs are $315,000, and fixe

valentinak56 [21]

Answer:

Decrease in profit = $9,000

Explanation:

The impact on the profit would be the sum of the increase in contribution from the special order less the lost contribution by forgoing the standard order.

Accepting the special order of 3,000 units would mean losing standard contribution on 2,000 units from the current sales unit of 15,000. Remember the company only has excess capacity of 1, 000 units i.e (16000-15,000) So, the additional 2,000 units would need to be forgone at standard price.

Variable cost per unit = 315,000/15,000 = $21

Standard selling price = 450,000/15,000 = $30

Special order price = $24

$

Additional contribution from special order = (24-21) × 3,000 = 9,000

Lost contribution from forgoing standard order (30-21) × 2000 =(18,000)

Decrease in profit (9,000)

By accepting the special order, the company would lose $9,000 of its profit

7 0

3 years ago

Which of these is an example of discretionary spending?

aliya0001 [1]

D is the correct answer. Discretionary funding is not essential for a person to live. Rent and groceries both provide basic human needs of shelter and food respectively, and deb repayment is necessary to avoid bailiffs. Vacations are an unecessary expense.

3 0

3 years ago

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