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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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MM Proposition II with taxes: Group of answer choices explains how a firm's WACC increases with the use of financial leverage. r
schepotkina [342]

Answer:

explains how a firm's WACC increases with the use of financial leverage.

Explanation:

According to the MM Proposition II with taxes, the cost of equity rises with the increases use of debt in the capital structure of a firm.  

r_{e} = r_{o} +( r_{o}  - r_{d} ) × \frac{D}{E}

As cost of equity increases, the firm's WACC increases also

The  MM Proposition I with taxes reveals how utilizing the tax shield on debt causes an increase in the value of a firm

4 0
3 years ago
A price ceiling is the lowest price a seller can charge without losing all of its customers. a legal minimum price below which a
zavuch27 [327]
The answer would be a legal price above which a good/service cannot be sold at.

6 0
3 years ago
Find the sum of 2x kg and 5x g. Give the answer in grammes.​
maksim [4K]

Answer: 3,600 g

Explanation:

7 0
3 years ago
Indiana Co. began a construction project in 2021 with a contract price of $150 million to be received when the project is comple
Over [174]

Answer:

Recognize $ 1.50 millions gross profit in 2022

Explanation:

 

                                        Year end 2021         Year end 2022

A  Contract Price               $150.00                          $150.00

B  Cost Incurred to Date    $36.00                             $94.50

                                                                                ($36 + $58.50)

C  Estimated cost yet to be

incurred to complete

the contract                        $84.00                              $0.50

Total Cost                          $120.00                              $135.00

D = B+C  

Percentage of Completion  30.00%                            70.00%

E = (B ÷ D) × 100

Revenue to date                  $45.00                             $105.00

F = A × E

G  Revenue of Previous year    $-                                $45.00

Net Revenue this year            $45.00                         $60.00

H = F - G

Cost to date                            $36.00                           $94.50

I (=B)

J  Cost to date of previous year $-                               $36.00

Net Cost for the year               $36.00                           $58.50

K = I - J

Gross Profits                              $9.00                            $1.50

L = H - K

Therefore the correct answer is Recognize $ 1.50 millions gross profit in 2022 hence, option is not available.

3 0
3 years ago
ESD wants to determine the best order size for 2x4x6 pressure treated pine lumber required for making custom cabinets. ESD's est
Vedmedyk [2.9K]

Answer:

the economic order quantity is 845 units

Explanation:

The computation of the economic order quantity is shown below;

As we know that

Economic order quantity is

= √2 × √annual demand × √ordering cost ÷ √carrying cost

= (√2 × √6750 × √$225) ÷ (√4.25)

= √3,037,500 ÷ √4.25

= √7,14,705.88

= 845 units

Hence, the economic order quantity is 845 units

6 0
3 years ago
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