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Tanya [424]
3 years ago
14

Karev Company started Year 2 with a $500 balance in its Cash account, a $500 balance in its Supplies account and a $1,000 balanc

e in its common stock account. During Year 2 the company experienced the following events. (1) Paid $334 cash to purchase supplies (2) Physical count revealed $211 of supplies on hand at the end of Year 2 Based on this information the amount of supplies reported on the Year 2 Balance Sheet is $_______________
Business
1 answer:
mel-nik [20]3 years ago
8 0

Answer: $211

Explanation:

Based on the information given in the question, the amount of supplies reported on the Year 2 Balance Sheet will be $211.

The answer is $211 because that is the actual inventory that was given in the question and therefore should be the value that should be reported on the Year 2 balance sheet.

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Different customer statement types are available to suit different client situations. Heather wants to help her client send out
motikmotik

Answer: b. Open Item

Explanation:

The statement that Heather wants to help a client send out is to include unpaid invoices, unapplied payments, and Credit Memos which are essentially signs that the creditor has not been paid.

An open item statement would therefore work best because it is to include open accounts that are yet to be paid so will include all those entries described above.

8 0
3 years ago
Assume the spot rate of the British pound is $1.73. The expected spot rate 1 year from now is assumed to be $1.66. What percenta
Alexandra [31]

Answer:

The correct answer is 4.05%.

Explanation:

According to the scenario, the given data are as follows:

Spot rate = $1.73

Expected spot rate after 1 year = $1.66

So, we can calculate the depreciation percentage by using the following formula:

Expected Depreciation = (Expected spot rate after 1 year - Spot rate) / Spot rate

So, by putting the value

= ($1.66 – $1.73) / $1.73

= - $0.07 / $1.73

= - 4.05%

Hence, the depreciation percentage is 4.05%.

8 0
3 years ago
Bud’s Bucket ice cream company produces a chemically enriched ice cream and decides to penetrate the gourmet market by offering
ipn [44]

Answer:

It may turn off it's current customer base and cause them to purchase a competitors ice cream.

Explanation:

Market penetration strategy is the process of selling current products to an already existing market so as to obtain a higher market share by taking the market shares from the other competing companies.

Market penetration strategy uses low prices to generate demand for a product and increase market share. Bud's bucket ice cream decides to penetrate the gourmet market by offering its same ice cream at high prices instead of reducing the price, this might lead to a reduction in their current customer base.

6 0
3 years ago
What is an economic factor on a business
blsea [12.9K]

Hi there!

<u>Information:</u>

<u>First, allow us to observe what an "economic factor is".</u>

- An economic factor is data taken out of market and economy.

- Economic factor may include certain costs. And these costs well be in our answer.

<u>Problem-Solving / Answer</u>

<u>Now, we figure out what economic factors we can find.</u>

<u>Tax rates</u> - tax rates can include an Economic factor.

<u>Laws</u> - Laws are a known economic factor.

<u>Unemployment</u> - Big one, at this time due to COVID-19, unemployment rates are flying off the charts. This is an example of an economic factor.

Important Keywords;

- Data ; <u>Data can be information taken from a place, for example, you have taken data from a chart.</u>

<u>Learn more:</u>

<u>Push factors: brainly.com/question/13553564</u>

<u>Economic growth: brainly.com/question/13023127</u>

<u></u>

<u />

8 0
4 years ago
What is the process of converting illegally earned assets to conceal their origin?
Salsk061 [2.6K]
Its Money laundering
3 0
4 years ago
Read 2 more answers
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