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arlik [135]
3 years ago
11

Knoll Company started Year 2 with a $1,000 balance in its Cash account, a $200 balance in its Supplies account and a $1,200 bala

nce in its common stock account. During Year 2, the company experienced the following events:_______.
(1) Paid $600 cash to purchase supplies.
(2) Physical count revealed $50 of supplies on hand at the end of Year 2. Based on this information the amount of supplies expense reported on the Year 2 income statement is:_______.
Business
1 answer:
Eddi Din [679]3 years ago
8 0

Answer:

$750

Explanation:

Calculation to determine what the amount of supplies expense reported on the Year 2 income statement is:

Using this formula

Supplies expense=Balance in Supplies account

+Cash paid to purchase supplies)-Supplies on hand

Let plug in the formula

Supplies total amount =($200 + $600) -$50

Supplies total amount=$800-$50

Supplies total amount=$750

Therefore the amount of supplies expense reported on the Year 2 income statement is:$750.

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What is the most important source of revenue and the major type of expenditure at the Federal level? At the state level? At the
Margarita [4]

The largest share of the revenues from property taxes and sales and gross receipts taxes are generally received from state and local governments. Individual income taxes are another major source of income.

Explanation:

In fiscal 2010 the total US government and local tax revenues—35% came from property taxes and 34% from sales and gross taxes. In 2010, local governments collected a little more than 75% of their 2010 property tax receipts. Local government tax revenues are primarily financed by property taxes.

Nevertheless, sales taxes and gross income taxes were the major source of revenue for governments. In 2010, the Member States received less than half of their income from sales and gross receipts taxes.

5 0
3 years ago
A​ firm's marginal product of labor is 4 and its marginal product of capital is 5. if the firm adds one unit of​ labor, but does
Irina18 [472]
The firm should hire 2 more people

7 0
3 years ago
Cash to Monthly Cash Expenses Ratio Capstone Turbine Corporation produces and sells turbine generators for such applications as
Andrej [43]

Answer:

a) $1,918.17

b) 16.8 months

C) Yes, Capstone Turbine will remain in business.

Explanation:

a) To find the monthly cash expenses, we have:

Monthly cash expenses = negative cash flow from operations / 12

= 23018 / 12

= $1,918.17

b) To find the ratio of cash to monthly cash expenses, we have:

Ratio of cash to monthly cash expenses = Year end cash / monthly cash expenses

= $32,221 / $1,918.17

= 16.797

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6 0
3 years ago
Suppose the town of boone has a total population of 50,000 people. of those, 45,000 people are employed. there are 1,000 full-ti
slega [8]
Population - 50,000
Employed - 45,000
Students not looking for work - 1,000

To calculate Boone's unemployment rate you'll use the formula: 
Unemployment rate = number of people unemployed / labor force

Those that fall into the unemployment category are those that are not working but are actively looking/wanting to work. Students, stay-at-home moms etc that are not wanting to work, though unemployed, to not fall into this category.

The labor force is made up of everyone willing and able to work.

First, let's subtract the students who are not looking for work from the population so get the labor force. 50,000 - 1,000 = 49,000 (labor force)

Next, to get the number of people unemployed let us subtract the labor force of 49,000 by those already employed of 45,000. 49,000 - 45,000 = 4,000

Finally, we are able to calculate the unemployment rate of Boone. 
Unemployment rate = number of people unemployed / labor force
Unemployment rate = 4,000/49,000= .081 multiply by 100 to get the percentage. 8.1%
Unemployment rate of Boone is 8.1%
3 0
3 years ago
Determine if the statement is true or false.
o-na [289]

That statement is true

In united states, there are only two things that considered as a primary source of criminal law.

The first one is the court ruling that is made by both state and supreme courts.  The second one is the legislation that are passed by the representatives in state and federal government.

4 0
3 years ago
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