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Anvisha [2.4K]
3 years ago
9

A physical count of supplies on hand at the end of May for Masters, Inc. indicated $1,250 of supplies on hand. The general ledge

r balance before any adjustment is $2,100. What is the adjusting entry for office supplies that should be recorded on May 31?A)Debit Supplies Expense $1,250 and credit Supplies $1,250.B)Debit Prepaid Supplies $850 and credit Supplied Expense $850.C)Debit Supplies Expense $1,250 and credit Supplies $2,100.D)Debit Supplies $1,250 and credit Cash $1,250.E)Debit Supplies Expense $850 and credit Supplies $850.
Business
1 answer:
AfilCa [17]3 years ago
4 0

Answer:

E)Debit Supplies Expense $850 and credit Supplies $850.

Explanation:

The inventory/supplies balance at the end of the period in which a count was conducted has to be adjusted to reflect the amount of stock/supplies available at the end of the period.

Given that the count indicates that there are $1,250 of supplies on hand and the book balance is $2,100,

The difference is

= $2,100 - $1,250

= $850

Entries required

Debit Supplies Expense $850

Credit Supplies $850.

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An annuity that goes on indefinitely is called a perpetuity. The payments of a perpetuity constitute a/an series. The equation i
stepladder [879]

Answer:

The present value of security is $2300

Explanation:

The value or price of the perpetuity today is calculated by dividing the constant cash flow it provides per period by the interest rate or the rate of return (r). Thus the price of this perpetuity according to the formula will be,

Value of perpetuity = Cash flow / r

Value of perpetuity = 115 / 0.05

Value of perpetuity = $2300

6 0
3 years ago
Rienzi Farms grows sugar cane and soybeans on its 600 acres of land. An acre of soybeans requires 3 hours to plant and brings in
mezya [45]

Answer:

133 acres of sugar cane

and 300 of soybean provide a profit of $ 733,000

Explanation:

We setup the fromulas and use excel solver:

labor hours:  3 x sugar acres + 4 x soybean <= 1,600

profit  = 1,000 x sugar acres + 2,000 soybean

with the restriction soybean <= 300

                 SOLVER  

              acres          hours             PROFIT

sugar cane 133  x 3 = 399       x 1,000 =    133,000

soybeans 300  x 4 = 1,200           x 2,000 =<u>  600,000  </u>

                                                  TOTAL           733,000

6 0
3 years ago
Objectives are Multiple Choice the means by which a marketing goal is to be achieved, usually characterized by a specified targe
omeli [17]

Answer:

a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.

Explanation:

A business objective is defined as measurable achievements a company wants to attain within a given period of time.

It acts as a compass that shows that activities are on track to realise business goals.

The steps to get a favourable result are outlined, resources to be used are usually stated and a time frame given to get results.

Goals on the other hand are general results that a company wants to attain. Objectives are more specific.

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3 years ago
Company X sells their products exclusively to companies in the Y market. In estimating demand from their business customers, Com
skelet666 [1.2K]

Answer:

derived demand

Explanation:

Company X sells their products exclusively to companies in the Y market. In estimating demand from their business customers, Company X must understand that this demand is actually <u>derived demand</u>, which means that the demand for industrial products and services is driven by demand for consumer products and services.

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3 years ago
Attention!!! Auction is about to happen!!!!!<br><br> 1st one=50minecoins<br> 2nd=60minecoins
artcher [175]

Answer:

lol

Explanation:

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