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Arisa [49]
2 years ago
8

The supplies account had a beginning balance of $1,693. Supplies purchased during the period totaled $4,413. At the end of the p

eriod before adjustment, $445 of supplies were on hand. Prepare the adjusting entry for supplies. If an amount box does not require an entry, leave it blank.
Business
1 answer:
olga55 [171]2 years ago
6 0

Answer:

Debit Supplies expense $5,661

Credit Supplies account $5,661

Explanation:

At the time of purchasing supplies, the entries includes a debit to supplies accounts, and a credit to cash or accounts payable which is dependent on whether the cash purchased was done via cash or an account

For supplies used, debit supplies expense and credit supplies account. The movement in supplies account over a period is due to purchases and its expressed as;

Opening balance + Purchases - Supplies used = closing balance

$1,693 + $4,413 - Supplies used = $445

$6,106 - Supplies used = $445

Supplies used = $6,106 + $445

Supplies used = $5,661

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Answer:

Costs and benefits are weighed to determine if producing the good will be profitable.

Explanation:

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An example of a financial analysis that can be used is the cost benefit analysis. The cost benefit analysis involves determination of all the resources that will be needed as input. The input is then convert into monetary terms, then summed together. The total amount of input in monetary terms is the cost, since that i the total amount needed to process the raw materials to finished goods. The future benefits are also forecasted and converted into monetary terms. The comparison of the costs versus the benefits forms what is collectively termed as the cost and benefits analysis.

When the costs outweigh the benefits, then the good should not be produced. When the costs are equal to the benefits, it means the business will break-even, so there will be no profits, it is advisable not to produce the good. Finally, when the benefits outweigh the costs, it is advisable to produce the good.

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i hope that this is what you needed

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<u>Placement Interviews </u>are face-to-face interactions with the primary purpose of assessing the honesty of potential employees.

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Learn more about Interviews here : brainly.com/question/8846894

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