Answer:
a. Supplies Expense $3,700Supplies $3,700
Explanation:
The entries required when supplies are purchased is
Debit Supplies account
Credit cash/accounts payable
At the point of use of these supplies, the entries required are
Debit Supplies expense account
Credit supplies account
Hence the supplies used
= $5,000 - $1,300
= $3,700
Entries to be posted to adjust
Debit Supplies expense account $3,700
Credit supplies account $3,700
Answer:
c.- 93,700 // 0
Explanation:
As it lacks commercial substance neither Horton nor the other parti will recognize gain/loss on the trade.
Horton will recognize the new land for the value traded without a gain/loss entry:
Land 93,700 (88,400 + 5,300 cash) debit
Cash 5,300 credit
Land 88,400 credit
--to record trade of land without commercial subtance--
Services are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible.
Since a service is 'good' for the time of use and doesn't last forever it is an intangible product. Much like a good, a service needs to meet customer expectations. Marketers strive to reach their target market for these types of products also.
Priscilla does not need to consider the cost of the new equipment.
Originally used by the Inuit, kayaks are a sort of canoe with a light frame and a watertight covering that has a tiny space in the top to sit in.
As a type of compact watercraft, kayaks are renowned for their exceptional design. A boat that is quick, strong, and simple to turn may be modified for calm lakes, swift rivers, and rough seas thanks to its light hull, covered top, and shallow base.
Instead of continuing to use her outdated pieces of equipment, Priscilla could swap them out for more modern ones.She shouldn't consider the price of the new equipment as a result.
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