Answer:
Supplies Used = $2475
Explanation:
<u>Bruce Company</u>
Supplies Purchases $4,300
Supplies on hand $1,825
Supplies Used = $ 4300- $ 1825 = $2475
The amount of Supplies used ( $ 4300- $ 1825 = $2475) will be shown in the income statement as an expense and the amount of unused supplies or Supplies on hand $1,825 will be shown in the Balance sheet as an asset account. The both of which will total the supplies actually purchased.
The relating <u>adjusting entry </u>will be
Supplies Expense $ 2475 Debit
Supplies Account $ 2475 Credit
This means the supplies of the amount $ 2475 have been used and is recorded as an expense in the income statement. It will be deducted from the gross profit. The remaining amount $ 1825 is for future use so recorded as an asset in the Balance Sheet and added to the total assets.
Answer:
Small/large
Explanation:
A transaction could be a small or large unit of work that must either be totally finished or stopped
Answer:
(D) Dr Sales Returns and Allowances 150,000
Cr Sales Refund Payable 150,000
Dr Inventory Returns Estimated 90,000
Cr Cost of goods sold 90,000
Explanation:
Based on the information given The adjusting Journal entry or entries to record the expected sales returns is (are):
Dr Sales Returns and Allowances 150,000
Cr Sales Refund Payable 150,000
[(8%*2,000,000)-10,000]
Dr Inventory Returns Estimated 90,000
Cr Cost of goods sold 90,000
[(8%*1,200,000-6,000]
Answer:
1.Financial transaction
2.Financial transaction
3.non-financial transaction
4.non-financial transaction
5.Financial transaction
Answer:
As she is going to start a profession, she should be aware of the feature of Profession and features of profession she should know is explained below in detail.
Explanation:
A profession is described as obtaining high expertise in a certain discipline and working to develop all that field for the well-being of the earth.
As Doctor Sapna is about to operate for the well-being of all the people. She should have fascinating of the following characteristics of professionalism, such as:
- Practical experience
- Accountability
- Well trained in all the technical tools
- No discretion is choosing the patients
- Direct work relationship
- Ethical constraints
- Great responsibility
- Merit-based
- Moral in working
