1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Dmitriy789 [7]
2 years ago
9

Prepare journal entries to record the following transactions for the village of Radnor. Classify the expenditures as Parks suppl

ies.
a. Placed purchase order 960 for supplies in the amount of $8,000 and purchase order 961 for supplies in the amount of $6,000. The purchase orders allowed the suppliers to ship and bill for additional quantities, up to 5 percent of the order.
b. Received the supplies ordered on purchase order 960, together with an invoice for $8,300. The supplies, including the additional quantities, were accepted, and a voucher was prepared for $8,300.
c. Received all the supplies ordered on purchase order 961, together with an invoice for $5,800. The supplier said that production costs were less than anticipated, and it was passing the lower cost on to Radnor. A voucher for $5,800 was prepared.
d. The voucher for $8,300 was paid.
Business
1 answer:
zzz [600]2 years ago
3 0

Answer:

A. Dr Encumbrances $14,000

Cr Budgetary fund balance $14,000

B. Dr Budgetary fund balance $8,000

Cr Reserved for encumbrances Encumbrances $8,000

Dr Expenditures – Park supplies $8,300

Cr Voucher payable $8,300

C. Dr Budgetary fund balancereserved for encumbrance $6,000

Cr Encumbrances $6,000

Dr Expenditures – Parks supplies $5,800

Cr Vouchers – payable $5,800

D. Dr Voucher payable $8,300

Cr Cash $8,300

Explanation:

Preparation of Journal entries

A. Dr Encumbrances $14,000

Cr Budgetary fund balance $14,000

($8,000+$6,000)

B. Dr Budgetary fund balance $8,000

Cr Reserved for encumbrances Encumbrances $8,000

Dr Expenditures – Park supplies $8,300

Cr Voucher payable $8,300

C. Dr Budgetary fund balancereserved for encumbrance $6,000

Cr Encumbrances $6,000

($14,000-$8,000)

Dr Expenditures – Parks supplies $5,800

Cr Vouchers – payable $5,800

D. Dr Voucher payable $8,300

Cr Cash $8,300

You might be interested in
Due to recent political and economic events, general prices of goods and services are expected to increase significantly over th
melomori [17]

Answer:

a. Inflation

Explanation:

In the context of economics, inflation refers to the increase in the price of goods and services

Moreover,  we also know that

(1 + Nominal rate of return) = (1 + real rate of return) × (1 + inflation rate of return)

According to the given situation, it is mentioned that The general goods and services prices are expected to rise substantially over the next five years which represents the concept of inflation

Hence, the option a is correct

5 0
2 years ago
Blasterhoff, Inc. is a company that makes cannons for blasting off fireworks. In order to build their business they brought in a
Paha777 [63]

Answer:

The next step would be to take action on the discovered research

Explanation:

The company hired the marketing researcher so the first step which is taken by the researcher is to conduct research, fetch the data from the researched data which is already been carried out by them. After fetching the data, a plan is to be created which is also already been carried out. Then the next step after all this would to take action or put into action the plan or the discovered research.

7 0
3 years ago
If economic activity increases, it follows that economic welfare:
grigory [225]
Probably goes either way 
7 0
3 years ago
Insurance is _____________ when the possible loss is relatively large compared to the amount of the premium.
Andreyy89

Using economic understanding, insurance is "<u>Economically feasible</u>" when the possible loss is relatively large compared to the premium amount.

This is because when an individual insured on a premium account loses huge properties that are considerably large compared to the premium paid, this is economically feasible to such an individual.

For example, if an individual has his vehicle worth $1 million on damaged but has only paid less than $100,000 as insurance fee, such individual would have his car replaced by the insurance firm, despite only paying 10 percent of the car price as insurance fee.

Thus, this situation is considered <u>economically feasible.</u>

Hence, in this case, it is concluded that the correct answer is "<u>Economically feasible."</u>

Learn more here: brainly.com/question/13769098

8 0
2 years ago
If a great many data values closer to the left of a data distribution which then tails off to the right the distribution is refe
Vadim26 [7]

If one tail is longer than another, the distribution is skewed. These distributions are sometimes called asymmetric or asymmetrical distributions as they don’t show any kind of symmetry.

A left-skewed distribution has more values on the left of the distribution.

8 0
3 years ago
Other questions:
  • Guardian security, inc., and hedge fund corporation enter into an oral contract under which guardian security agrees to provide
    5·1 answer
  • The manager of a fast food franchise will establish ________ in regard to how many hamburgers to cook each hour.
    7·1 answer
  • For an average commercial vehicle being driven at 55 mph on dry pavement, it will take about _____ to bring the vehicle to a sto
    13·1 answer
  • The main disadvantage of a monetary union is the loss of national monetary and exchange rate policy independence. lessened polit
    9·1 answer
  • Problem 9-20 Two investment advisers are comparing performance. One averaged a 16% rate of return and the other a 15% rate of re
    14·1 answer
  • Can South Africa afford to have a totally free trade with the rest of the world?
    7·2 answers
  • Let's try to determine the cost function for another company like ABC who makes sausages. Assume costs are as follows:
    7·1 answer
  • Currently, it is not clear which, if any, laws apply to the security of e-money payment information.
    6·1 answer
  • Retained earnings represents: Multiple Choice Amount of cash available for paying dividends. Total assets minus total liabilitie
    15·1 answer
  • If a firm enjoys economies of scale up to a certain output​ level, and cost then increases proportionally with​ output, what can
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!