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2 years ago

First Rentals purchased office supplies on credit. The general journal entry made by First Rentals will include a:

1 answer:

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The general journal entry made by First Rentals on purchase of office supplies on credit will include a Credit to Accounts Payable.

<h3>How are office supplies on credit recorded?</h3>

Office supplies on credit means office supplies bought on credit by the firm.

In conclusion, the general journal entry made by First Rentals on purchase of office supplies on credit will include a Credit to Accounts Payable.

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The law of supply states that

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B. as price rise so will supply, and prices will fall, so will supply

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3 years ago

The ______ requires that if a new employee had group health insurance at a previous employer and the new employer has healthcare

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Answer:

The correct answer is C. Consolidated Omnibus Budget Reconciliation Act.

Explanation:

COBRA stands for the Consolidated Omnibus Budget Reconciliation Act. This law guarantees employees the right to make payments for group medical insurance in order to maintain the insurance they would otherwise lose after:

- The reduction of your work hours.

- Leave the job.

- Job loss

Most people can keep insurance for up to 18 months. Some people may be able to keep it for a few months longer than that.

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3 years ago

On a total product curve with labor on the horizontal axis, the inflection point represents the quantity of labor where

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The appropriate response is the marginal product of labor is at its most elevated. In financial aspects, the marginal product of labor (MPL) is the adjustment in yield that outcomes from utilizing an additional unit of work. The minimal result of an element of generation is by and large characterized as the adjustment in yield-related with an adjustment in that component, holding different contributions to creation steady.

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3 years ago

A company is assessing opportunities in the BRIC companies and determines that _________ is one of the youngest populations in t

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Answer:

India is one of the youngest Nation in the world

Explanation:

The countries that fall under the BRICs (Brazil, Russia, India and China), will have large tendency to shape the future of world because these countries are growing with greater GDP growth rates.

India is the one of the youngest nation with having its 27% population living below 27 years. The generation has opted to technological advances which suits most of the companies to move here. The human resource here is available at low cost and the free trade agreement of India with a lot of countries has helped it to equip its resources to maximum which is the reason it has 7.6 GDP growth rate.

There is increased demand for infrastructure development, basic needs provision and many other commodities. So this makes India an attractive market with a well diversified people taste because a lot of civilizations are living and burried here.

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3 years ago

Jing Company was started on January 1, Year 1 when it issued common stock for $36,000 cash. Also, on January 1, Year 1 the compa

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Answer:

$716 and $12,300

Explanation:

Original Cost = $16,000 + $2,100

Original Cost = $18,100

Double decline rate = 100/5*2

Double decline rate = 40%

First Year Depreciation = $18,100*40%

First Year Depreciation = $7,240

Second Year Depreciation = $18,100*60%*40%

Second Year Depreciation = $18,100*0.60*0.40

Second Year Depreciation = $4,344

Third Year Depreciation = ($18,100 - $7,240 - $4,344 -$5,800)

Third Year Depreciation = $716

Accumulated Depreciation = $7,240 + $4,344 + $716

Accumulated Depreciation = $12,300

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3 years ago