First calculate supplies used as follows
Beginning balance 1400
Add supplies purchase 3800
Less ending balance 1900
Supplies used
1,400+3,800−1,900=3,300
The appropriate month-end adjusting entry would be
Debit supplies expense $3300
credit supplies $3300
Hope it helps!
Answer:
Wight Inc.
1. The cash required for payments on accounts in May
= $383,500
2. The cash required for payments on accounts is:
= $412,975
Explanation:
a) Data and Calculations:
April May June
Expected purchases on account $374,000 $412,000 $415,900
Cash Payments:
Month of billing (25%) $93,500 $103,000 $103,975
Next month (75%) 280,500 309,000
Cash required for payments on accounts $383,500 $412,975
Answer and Explanation:
The adjusting entry made on Tuesday is as follows
Salaries expense Dr $120 ($300 × 2 days ÷ 5 days)
To Salaries payable $120
(Being the salaries expense is recorded)
here the salaries expense is debited as it increased the expenses and salaries payable is credited as it also increased the liabilities.
Answer:
the layoffs were instances of employment at will
Explanation:
GEM Manufacturing's defense would most likely be that the layoffs were instances of employment at will.
Employment at will is a situation where a worker may be dismissed by an employer for any reason that may not be illegal and at anytime.
The Employers, in this question for example, terminated the relationship because of slowdown in sales. And this action affected the two employees with poorest attendance.
Answer:
B
Explanation:
Year end - December 31,2018 (first account year)
Pretax Income - $640,000
Interest expenses ( $20,000)
Excess warranty expense add back $45,000
Excess depreciation deducted ($120,000)
Taxable income = $545,000
Tax rate = 40%
Income tax expense for 2018 = $545,000 * 40%
=$218,000