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Fantom [35]
3 years ago
15

Muldoon Advertising has an opening balance in its supplies account of $2,400 and purchases $3,000 of supplies during the year. A

year-end physical count shows $2800 in supplies inventory. Which is the appropriate journal entry at year end?
A) Dr Supplies Expense $2,600
Cr Supplies $ 2,600
B) Dr Supplies Expense $2,800
Cr Supplies $ 2,800
C) Dr Supplies $2,600
Cr Supplies Expense $ 2,600
D) Dr Supplies $3,000
Cr Cash $3,000
Business
1 answer:
Sidana [21]3 years ago
4 0

Answer:

A) Dr Supplies Expense $2,600

Cr Supplies $ 2,600

Explanation:

The supplies account had an opening balance of $ 2400. Purchases were made of $ 3000 so the total debit balance was $ 5400. The year end showed a debit balance of $ 2800.

So  $ 5400- $ 2800= $ 2600 Supplies were used and credited .

An expense account would be used to show this so

Supplies Expense is debited with $ 2600 and

Supplies Account is credited with $ 2600 showing a net debit balance of $ 2800 at the end of the year.

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The ____ is the amount earned on an investment for a given period of time.
hichkok12 [17]

Answer:

Investment income.

Explanation:

Investment income is income that comes from interest payments, dividends, capital gains collected upon the sale of a security or other assets, and any other profit made through an investment vehicle. Generally, individuals earn most of their total net income each year through regular employment income.

hope this helped broski =))

3 0
3 years ago
What is the net present value of a project with the following cash flows if the required rate of return is 9 percent?
inna [77]
<span>Year Cash Flow
0 -$46,400 
1 18,000 
2 33,530 
3 4,600</span>

<span>NPV = -$46,400 + $18,000 / (1 + 0.09) + $33,530 / (1 + 0.09)2 + $4,600 / (1 + 0.09)3 = 

</span><span>-$1,574.41</span>

7 0
3 years ago
Which of the following is NOT an example of using the right
Tamiku [17]

Answer:

i feel like the last one

Explanation:

it seems the best one to pick

8 0
2 years ago
Technology Corp. is considering a $238,160 investment in a new marketing campaign that it anticipates will provide annual cash f
LUCKY_DIMON [66]

Answer:

B) IRR is 3%. Reject the project.

Explanation:

We can use an excel spreadsheet to calculate the internal rate of return (IRR) for this investment:

we can use the IRR function =IRR(values,[guess])

where:

  • value 1 = -238160
  • value 2 to 6 = 52000
  • guess = optional, not required

=IRR(-238160,52000,52000,52000,52000,52000) = 3%

4 0
3 years ago
The Stone Harbor Fund is a closed-end investment company with a portfolio currently worth $430 million. It has liabilities of $8
SashulF [63]

Answer:

5.21%

Explanation:

The Stone Harbor Fund

NAV= Investment in portfolio - liabilities/ Numbers of share outstanding

(430-8)/10

=422/10

=$42.2

Discount will be : $42.2 -40 shares

=$2.2

Hence:

$2.2/$42.2

=5.21%

Therefore the premium or discount as a percent of NAV will be 5.21%

4 0
2 years ago
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