Answer:
Adjust supplies inventory to actual.
Explanation:
The adjusting entry to record the adjust supplies inventory to actual is shown below:
Supplies expense $730
To Supplies $730
(Being the supplies inventory is adjusted)
For recording this we debited the supplies expense as it increased the expenses and credited the supplies as it decreased the assets
Therefore the second option is correct
Answer:
$12,000
Explanation:
The computation of the amount included in the gross income is shown below:
= Lease payment in the current year × number of months
= $2,000 × 6 months
= $12,000
Moreover, the improvement of $2,000 would not be included unless the property is sold off
Therefore the $12,000 included in the gross income
Answer;
-Public goods
Clean air is an example of public goods, which no one can be excluded from and benefits all citizens.
Explanation;
A public good is a product that one individual can consume without reducing its availability to another individual, and from which no one is excluded. These goods are both non-excludable and non-rivalrous in that individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.
-Public goods (and services) include economic statistics and other information, law enforcement, national defense, parks, defense, public fireworks, lighthouses, clean air and other environmental goods among other things for the use and benefit of all.
Answer:
b. Individual business enterprises, rather than to industries or an economy as a whole or members of the society as consumers
Explanation:
Financial statements provide information pertaining to
A : an economy as a whole and members of society as consumers, rather than to individual enterprises or industries.
B. Individual business enterprises, rather than to industries or an economy as a whole or members of the society as consumers
C. Individual business enterprises, industries and an economy as a whole or members of the society as consumers
D. Business Industries rather than Individual business enterprises or an economy as a whole and members of society as consumers.
ANSWER
Financial statement by their definition are written reports that communicate the business activities that a firm engages in, and the financial performance of those activities and of the entire company.
From the above definition it is very understandable that financial statements are more pertained to business enterprises than industries or members of the society. It in no way pertains to the economy