1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ZanzabumX [31]
3 years ago
15

The balance in the office supplies account on January 1 was $7,000, supplies purchased during January were $3,000, and the suppl

ies on hand on January 31 were $2,000. The amount to be used for the appropriate adjusting entry is _________.
Business
1 answer:
Alecsey [184]3 years ago
7 0

Answer:

$8000

Explanation:

Office supplies  beginning     jan-1  $7000

                           purchase               $3000

                           consumed                  x

                            ending        jan-31 2000        

                             

Ending=beginning + purchase - consumed

           =8000

You might be interested in
Fill in the blanks: Standard deviation measures ______ risk, while beta measures ______ risk.A. Asset-specific; market-wideB. Ma
BaLLatris [955]

Answer: Option D

Explanation: In simple words, standard deviation refers to the amount of variation in a data. Whereas, beta refers tot eh Greek letter that is used to denote a series or category.

Hence when we say of standard deviation we take all the data into consideration while in case of beta risk calculations of specific part is taken into consideration.

Hence from the above we can conclude that the correct option is D .

4 0
3 years ago
A firm that must invest in new information systems capabilities in order to comply with federal legislation is investing to achi
Juliette [100K]

Answer:

A) Survival

Explanation:

Survival is a term business objective where businesses strive to continue to exist. As seen in this scenario, businesses will try to comply with regulations and rules in order to survive. Otherwise they could be discontinued because of non-compliance. This demonstrates the survival business objective.

8 0
3 years ago
A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on e
zvonat [6]

Answer: Straight Rebuy

Explanation: There are 3 major types of buying situations

1. New Task

2. Modify Rebuy

3. Straight Rebuy

Straight rebuy is a buying situation in which the buyer routinely reorders something without any modifications.

8 0
2 years ago
Lore Co. changed from the cash basis to the accrual basis of accounting during 2005. The cumulative effect of this change should
marysya [2.9K]

Answer: Prior period adjustment resulting from the correction of an error.

Explanation:

The Cash basis method is not acceptable under both IFRS and U.S. GAAP accounting principles and these are the principles followed by the majority of the world so Lore Co. was using the cash basis in violation of both conventions which means that their accounting records before the change are considered wrong and full of errors.

In changing to the acceptable principles, they are correcting that error and need to adjust prior periods for that error as well.

8 0
2 years ago
the loss of producer surplus associated with some sellers dropping out of the market as a result of the tax is
san4es73 [151]

Answer:

$60

Explanation:

According to information on your question. We are to note that an absence or reduction of suppliers could lead to lower supply.

As in this case, the producer supply loss of $60 was incurred as some sellers dropped out of the market as a result of the tax.

6 0
3 years ago
Other questions:
  • Starbucks is expanding its global operations into South America in spite the real probability of civil wars and terrorist activi
    7·1 answer
  • What is a risk management plan?
    10·1 answer
  • The capital impairment restrictions are established to​ ________. A. provide sufficient safety to equity holders B. constrain th
    7·1 answer
  • Some of the leading companies that participated in the solar energy industry have discussed the possibility of establishing an a
    13·1 answer
  • The exercise price of the options is $100 per share, all options are European, and the stock does not pay any dividend. The call
    13·1 answer
  • ​"The application of quantitative techniques to purchasing data in an effort to better understand spending patterns and identify
    13·1 answer
  • A company issued 6-year, 8% bonds with a par value of $450,000. The market rate when the bonds were issued was 7.5%. The company
    8·1 answer
  • Which of the following best helps a company move toward achieving its
    12·1 answer
  • Bethany needs to borrow $8,000. She can borrow money at 6.9% simple interest for 3 yr or she can borrow at 6.5% with interest co
    13·1 answer
  • In making the best economic choices, consumers compare the benefits of the choice to.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!