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Art [367]
3 years ago
10

What's the correct entry for $100 purchase of supplies on credit?

Business
2 answers:
pav-90 [236]3 years ago
6 0

Answer:

c. Debit Supplies: $100 & Credit Accounts Payable: $100

Explanation:

When we purchase supplies on credit this has the following effect :

Assets : Will Increase thus Debit Supplies with $100

Liabilities : Will Increase thus Credit Accounts Payable with $100

Conclusion :

The correct entry is c. Debit Supplies: $100 & Credit Accounts Payable: $100

DaniilM [7]3 years ago
6 0

Answer:

c

Explanation:

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EB2.
tino4ka555 [31]

Answer:

$12

Explanation:

Overhead per machine hour = Overhead ÷ 160,000 machine hours

= $80,000 ÷ 160,000

= $0.5

Cost of each unit:

= Direct material + Direct labor + Overhead

=  $5 + $5 + (machine hours per unit × Overhead per machine hour)

= $5 + $5 + (4 × $0.5)

= $5 + $5 + $2

= $12

Therefore, the cost of each unit produced is $12.

7 0
3 years ago
The typical family on the Planet Econ consumes 10 pizzas, 7 pairs of jeans, and 20 gallons of milk. In 2016, pizzas cost $10 eac
grin007 [14]

Answer:

decreased by 4.5%

Explanation:

A family consumes: 10 pizzas, 7 pairs of jeans, and 20 gallons of milk.

In 2016, pizzas cost $10 each, jeans cost $40 per pair, and milk cost $3 per gallon.

The family's total cost of living in 2016 is:

C_{2016} = 10*\$10 +7*\$40 +20*\$3\\C_{2016} = \$440

In 2017, pizzas cost $8 each, jeans cost $40 per pair, and milk cost $3 per gallon.

The family's total cost of living in 2017 is:

C_{2017} = 10*\$8 +7*\$40 +20*\$3\\C_{2016} = \$420

The change, in percentage, of a typical family's cost of living is:

R=\frac{C_{2017}-C_{2016}}{C_{2016}} \\R=\frac{420-440}{440} \\R=0.045\ or\ 4.5\%

The cost of living decreased by 4.5%

5 0
4 years ago
Which of the following reflects the purchasing power of wages when adjusted for​ inflation? A. Real hourly compensation B. Direc
Brut [27]

Answer:

B. Direct financial compensation

Explanation:

When adjusted for inflation the normal wage paid is increased from its existing level to some percentage level similar to inflation level, to meet the inflation in market.

This can be clearly measured as from the actual payment made to the workers which shall include the direct financial compensation paid to the employees. This is because to calculate how much a worker can purchase during inflation is, actually what is the value of money in his hands during inflation, basically the utility.

Therefore, the correct option is:

Direct Financial Compensation.

4 0
3 years ago
"A forklift will last for only 2 more years. It costs $5,000 a year to maintain. For $20,000 you can buy a new lift that can las
BabaBlast [244]

Answer:

a. $2,465.82

b. $3,539.68

c. Yes, we should

Explanation:

Annual cost to maintain old forklift is $5,000

Equivalent Annual Cost (EAC) of new forklift = (Asset price x discount rate)/(1-(1+discount rate)-n), in which n is the number of year for usage of this forklift?

If discount rate is 4% per year, the EAC of new forklift is $2,465.82  

= ($20,000x4%)/(1-(1+4%)-10)

If discount rate is 12% per year, the EAC of new forklift is $3,539.68  

= ($20,000x12%)/(1-(1+12%)-10)

We should replace because with such above discount rate, the old forklift is more costly than the new one

5 0
3 years ago
Jayla just opened a fitness studio in her hometown. Since her goal is to become the leading fitness studio in the area, she appr
Blizzard [7]

Answer:

<em>The correct option is D) a target</em>

Explanation:

In business studies, most of the business holders have different goals which can be attained through different key components.

The key components of each goal can be specific as you cannot follow the wrong key components and desire for outcomes which are not related to the key components.

Jayla has a goal to become the leading fitness studio owner of the area, for this she sets up key components in the form of targets for each day that should be accomplished.

8 0
4 years ago
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