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2 years ago

On January 14, A Company purchased supplies of $900 on account. The entry to record the purchase will include

Business

1 answer:

Citrus2011 [14]2 years ago

7 0

Answer:

the complete journal entry should be:

Date

Dr Supplies 900

Cr Accounts payable 900

Explanation:

Supplies is an asset account that has a normal debit balance, while accounts payable is a liability account with a normal credit balance. Our accounting system is based on the double entry system where one account must be debited and another one must be credited.

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The ABC Auto Supply Company of Burlington, Vermont, uses an e-commerce software program on its website to allow customers such a

timama [110]

Answer: B2B ( Business to business)

Explanation:

The Business to business (B2B) is one of the marketing process in which the products are promoted to the other organization or any business by using the various types of business operations or functions.

The business to business marketing plays an important role as it allow various types of organization for expanding the business in the market.

According to the given question, the ABC auto supply is one of the firm that are basically using the E commerce software that allow the users or consumers for ordering their auto parts.

Therefore, The ABC company is basically follows the B2B business model.

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3 years ago

Suppose Cook Plus manufactures cast iron skillets. One model is a 10-inch skillet that sells for $ 22. Cook Plus projects sales

amid [387]

Answer:

Production budget = 835

Explanation:

<em>T</em><em>he production budgeted for a particular period is the expected units to be produced after adjusting the sales budget figures for opening and closing inventories. </em>

Production = Sales budget + closing inventory - opening inventory

Inventory at the end of July = 40%×650= 260

Opening inventory = 75

Sales budget = 650

Production budget = 650+ 260 - 75= 835

Production budget = 835

3 0

3 years ago

Revenues, Expenses, and Cost of Goods Sold are closed to which of the following accounts:_________

iren2701 [21]

Answer: A) Income Summary

Explanation:

The Income Summary account is used to compile temporary accounts before posting them to capital accounts. Revenues, Expenses and Cost of Goods are temporary accounts which will be compiled in the Income summary account.

The Income summary account has a debit and a credit side with income going on the credit side and expenses going on the debit side. If the credit side is higher than the debit side then profits have been made. The reverse is true.

6 0

3 years ago

In order to determine if a home is fairly priced or not, it is important to look at the home's:

Charra [1.4K]

In order to determine if a home is fairly priced or not, it is important to look at the home's:

C. price per square foot.

4 0

3 years ago

Read 2 more answers

Panther Co. had a quality-assurance warranty liability of $359,000 at the beginning of 2018 and $308,000 at the end of 2018. War

evablogger [386]

Answer:

d.$1,371,000

Explanation:

Given that

Warranty liability at the beginning of year = $359,000

Warranty liability at the end of year = $308,000

Warranty expense = $44 million

Sales percentage = 3%

So, the warranty expense = $44,000,000 × 3% = $13,20,000

So, the warranty expenditures for 2018 is

= Beginning warranty liability + warranty expense - ending warranty liability

= $359,000 + $13,20,000 - $308,000

= $1,371,000

6 0

3 years ago