Answer:
Debit Supplies expense $4,900
Credit Supplies account $4,900
Explanation:
When supplies are purchased, the entries required includes a debit to supplies account, and a credit cash or accounts payable (depending on whether the purchase was done via cash or on account).
For supplies used up, Debit supplies expense and credit Supplies account. The movement in the supplies account over a period is as a result of purchases and use such that it may be expressed as
opening balance + purchases - supplies used = Closing balance
$1750 + $3,500 - supplies used = $350
Supplies used = $1750 + $3,500 - $350
= $4,900
A monopoly is like a patent; It's good if you own one because you can control something and be the only person who makes money off of it.
It's bad because it defeats competition between other competing companies, and prices will go up
It's even worse when you consider what would happen if a dozen people or two monopolize the whole world. Then no one else would make money
Hope this helps!
Answer: Middlemen's brand
Explanation:
Tara foods are producing products that would bear the brand name of the wholesalers or retailers, which is an example of Middlemen's brand.
Middlemen's brand is a form of branding under ownership, where a producer makes a product and sells them to the wholesaler/distributor without a brand name, and the product would then bear name of the wholesaler/distributor.
Answer:
e. $153,156
Explanation:
From 9/1/14, he needs $50,000 every year for 4 years to fund the tuition fees. Therefore, present value of the amount needed at 9/1/14 using the Present value of annuity due formula
= 50,000 * {1+ (1/(1.05)^4) } / 0.05 * (1.05)
= $186,162
$186,162 is the amount needed after 4 years. Amount you need to invest today to have this amount in four years = $186,162/(1.05)^4 = $186,162/1.21550625 = $153,156.40
Answer: Check attachment
Explanation:
Note that, in the attachment, the total expense was calculated as the addition of the selling expense and the general and administrative expenses. This will be:
= $49700 + $34110
= $83810
Operating income was calculated as:
= Gross profit - Total expenses
= $107200 - $83810
= $23390
Check the attachment for further details.
