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LiRa [457]
3 years ago
5

At the beginning of December, ABC Company had $1,500 in supplies on hand. During the month, supplies purchased amounted to $2,90

0, buy by the end of the month the supplies balance was only $2,200. What is the appropriate month-end adjusting entry
Business
1 answer:
natta225 [31]3 years ago
4 0

Answer and Explanation:

The adjusting entry is as follows:

Supplies expense Dr $2,200

      To Supplies $2,200

(being the supplies expense is recorded)

Here the supplies expense is debited as it increased the expenses and credited the supplies as it decreased the assets

The computation is

= Opening supplies + purchased - closing supplies

= $1,500 + $2,900 - $2,200

= $2,200

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Tell us about a time when you went above and beyond for a customer or a time someone went above and beyond for you.
TEA [102]

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When preparing responses to behavioral interview questions such as the following, you can organize your ideas according to the STAR format.

S: Situation - Brief background to the story.

T: Task - Please describe what was expected of you and the minimum required.

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8 0
2 years ago
Lulzbot sells 6,000 units of its product for $500 each. The selling price includes a one-year warranty on parts. It is expected
Olin [163]

Answer:

$3,000

Explanation:

Warranty expense is an obligation on the business because business is liable to accept the claims of warranty. A estimated percentage of warranty expense is charges as an expense in each period.

Total Sales = $500 x 6,000 units = $3,000,000

Warranty Expense for the year = Sales units x 3% x warranty cost per unit

Warranty Expense for the year = 6,000 x 3% x $50 = $9,000

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Accrued Warranty expense = $9,000 - $6,000 = $3,000

5 0
3 years ago
Tyrone has three options on how to spend his saturday afternoon: to go out with friends, watch a movie, or wash his car. tyrone'
Ilia_Sergeevich [38]

If Tyrone has three options on how to spend his saturday afternoon: to go out with friends, watch a movie, or wash his car. tyrone's opportunity cost of washing his car would be: the value of going out with friends OR watching a movie

<h3>What is opportunity cost?</h3>

Opportunity cost can be defined as an way in which alternative is forgone because another alternative was chosen.

Based on the given scenario the opportunity cost will be the value of going out with friends or the value of watching a movie.

Therefore the correct option is D.

The complete question is:

Tyrone has three options on how to spend his Saturday afternoon: go out with friends, watch a movie, or wash his car. Tyrone's opportunity cost of washing his car would be:

a) the value of going out with friends.

b) the value of watching a movie.

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6 0
1 year ago
Countries are interconnected today as never before. From eating foods from different countries to singing along to songs perform
Nuetrik [128]
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