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A company's Office Supplies account shows a beginning balance of $630 and an ending balance of $460. If office supplies expense

nalin [4]

The correct answer is that there was $3,080 worth of office supplies purchased during the period.

In order to answer this question you know that the company started with $630 worth of office supplies and ended the year with $460 worth, or $170 less than they started with. The company used $170 of supplies from inventory, so they needed to purchase another $3,080 in order arrive at the $3,250 that we know was the total expense during the reporting period.

5 0

3 years ago

Which of the following is not one of the factors to consider in determining whether a business entity meets the definition of a

alexgriva [62]

2. It engages in business activities from which it may earn revenues and incur expenses.

3 0

3 years ago

Which Of The Following Page Titles Would Be Most Suitable For A Website Page Describing A Storeâ€™s Return Policy?

Stolb23 [73]

Answer:

b. Company Name's Return Policy

Explanation:

In E commerce, A good refund or return policy can help protect your company and win your customers’ trust, but making sure your language is clear and concise is extremely important.

According to study, over 60% of customers review a Return/Refund Policy before they make a purchasing decision. It is the single most important agreement that e-commerce store needs to have as it can affect its customer retention rate.

8 0

2 years ago

Johnson Waterworks Corporation provides plumbing services. Transactions during the first year of operations are provided below.â

lisov135 [29]

Answer:

$ 26,100

Explanation:

Given:

Cash received = $13,000

Amount Paid for equipment to be used for plumbing repairs = $1,500

Amount borrowed = $10,000

Amount paid in rent for the year = $400

Amount paid for plumbing supplies = $300

Amount received for completing a plumbing repair = $3,400

Plumbing supplies left at the end of the year = $400

Now,

the total cash = Total Amount received - Total Amount paid

or

The total cash = ($ 13000 + $ 10000 + $ 3400) - ($ 1500 + $ 400 + $ 300)

or

The total cash = $ 24,200

Now

the assets from equipment = $ 1,500

Thus,

the total assets at end of the first year = The total cash + the assets from equipment + Plumbing supplies left at the end of the year

or

The total assets at end of the first year = $ 24,200 + $ 1,500 + $ 400

or

The total assets at end of the first year = $ 26,100

5 0

2 years ago

Radoski Corporation's bonds make an annual coupon interest payment of 7.35% every year. The bonds have a par value of $1,000, a

mylen [45]

Answer:

The answer is 2.71 percent

Explanation:

The interest payment is annually.

N(Number of periods) = 12 years

I/Y(Yield to maturity) = ?

PV(present value or market price) = $1,470

PMT( coupon payment) = $73.5 ( [7.35 percent x $1,000)

FV( Future value or par value) = $1,000.

We are using a Financial calculator for this.

N= 12; PV = -1470 ; PMT = 73.5; FV= $1,000; CPT I/Y= 2.71

Therefore, the Yield-to-maturity of the bond annually is 2.71 percent

7 0

3 years ago