On November​ 1, Equipment had a beginning balance in the Office Supplies account of . During the​ month, purchased of office supplies. At November​ 30, Equipment had of office supplies on hand.

Required:
The Office Supplies​ T-account has been opened for you. Post the beginning balance and purchase of office supplies. ​

Answers

Answer 1

Answer:

T-account entry:

                                                       Office Supplies

Dr                                                                                                                       Cr

Nov. 1   Balance b/d             $1,700

Nov.      Purchases               $2,000


Related Questions

Select the item below that is a characteristic of holistic marketing: _________

a. Implementing targeted marketing programs for green products.
b. Focusing on marketing individual products to consumers
c. Combining different marketing techniques to sell a product
d. Considering all business aspects when marketing products

Answers

Answer:

D. Considering all business aspects when marketing products

Explanation:

When a whole business (in general) is considered for the marketing strategy, it forms a holistic marketing approach. In this type of strategy different departments of an organization come together to give positive inputs that create a robust business marketing strategy.

The section of the demand curve from A to B represents the a. inelastic section of the demand curve. b. unit elastic section of the demand curve. c. perfectly elastic section of the demand curve. d. elastic section of the demand curve. g

Answers

Answer: d. elastic section of the demand curve.

Explanation:

When using a linear demand curve, it has been found that the top half of the curve represents the elastic section which is where the section A to B cover so this is the elastic section.

The mid point which is B here is the unitary elastic portion of the curve and the bottom half of point B to C is the inelastic section.

In the elastic section, increasing the price by a certain percentage would cause the quantity demanded to fall by a higher percentage than the percentage increase in price.

Blume Corporation leases equipment for a ten-month period. The entire related lease payment is due at the end of the ten-month period. The journal entry to recognize the monthly accrual related to the lease will include a debit to:

Answers

Answer: d. short-term lease expense.

Explanation:

The debit has to go to an expense account to recognize that a lease expense is being incurred. The relevant account would be a short-term lease expense account because the lease is a short term lease as it is to last for less than a year.

The credit will go to an accrued lease account to recognize that it is a current liability because liabilities are credited when they increase.

If in 2019 Luther has 10.2 million shares outstanding and these shares are trading at $16 per share, then using the market value of equity, the debt to equity ratio for Luther in 2019 is closest to:

Answers

Answer:

Explanation:

If in 2006 Luther has 10.2 million shares outstanding and these shares are trading at $16 per share, then using the market value of equity, the debt -equity ratio for Luther in 2006 is closest to ________.

A) 3.45 B) 1.72 C) 0.86 D) 2.41

B) D / E = Total debt / Total equity

Total Debt = Notes payable (10.5) + Current maturities of long-term debt (39.6) + Long-term debt (231.3 ) = 281.4 million

Total equity = 10.2 × $16 = $163.2, so D / E = $281.4 / $163.2 = 1.72

Question 2: Global production company wants to collect data from the computer
buyers. AS A business research, explain which survey method of data collection would
be more appropriate. Justify your answer.

Answers

Answer:

ANswer to the following question is as follows;

Explanation:

Companies aim to acquire data from computer customers by surveying their business in the worldwide production market. This kind of data collecting delivers a more comprehensive survey than individual data gathering, is less costly, and saves time, and has a high response rate.

According to the present market circumstances, I recommended utilising a postal survey and in-person interviews study as a company researcher.

Suppose you borrow at the risk-free rate an amount equal to your initial wealth and invest in a portfolio with an expected return of 16% and a standard deviation of returns of 20%. The risk-free asset has an interest rate of 4%. Calculate the expected return on the resulting portfolio.

Answers

Answer: 28%

Explanation:

If the initial wealth is given as 100 and since the initial wealth is thesame as the borrowed amount, this will be 100 as well. Then, the weight of the risk free asset will be:

= Amount invested in risk free / Initial wealth

= -100/100

= -1

Portfolio weight equals:

= 1 - (-1) = +2

Therefore, the expected return on the resulting portfolio will be:

= 2 × 16% + (-1 × 4)

= 32 - 4

= 28%

Equivalent Units of Materials Cost The Filling Department of Eve Cosmetics Company had 4,500 ounces in beginning work in process inventory (90% complete). During the period, 74,900 ounces were completed. The ending work in process inventory was 3,700 ounces (40% complete). What are the total equivalent units for direct materials if materials are added at the beginning of the process? fill in the blank 1 units

Answers

Answer: 74,100 units

Explanation:

If the materials are added at the beginning of the process then the opening work in process inventory would need to be deducted from the completed inventory for the period. Also there would be no need to multiply the units by their completion level because they are assumed to be at 100% completion because materials were added at the very beginning.

Total equivalent units for direct materials is:

= (Completed units - Opening inventory) + Closing work in process

= (74,900 - 4,500) + 3,700

= 74,100 units

If Mike asked customers to complete a customer feedback survey after using his car detail service, he probably increased the level of customer involvement during the __________ step of the process. a.) information seeking b.) post-purchase evaluation c.) need identification d.) problem recognition

Answers

Answer: b.) post-purchase evaluation

Explanation:

Post-purchase evaluation as the term implies, is done after the product is purchased and checks how well the product does what it is meant to do.

When Mike asks customers to complete a feedback survey, they will indicate on the survey what they thought of his service such that he would know whether he fulfilled his purpose for the service. This therefore includes the customers in the post-purchase evaluation.

The University Store, Incorporated is the major bookseller for four nearby colleges. An income statement for the first quarter of the year is presented below: University Store, Incorporated Income Statement For the Quarter Ended March 31 Sales $ 800,000 Cost of goods sold 560,000 Gross margin 240,000 Selling and administrative expenses: Selling $ 100,000 Administrative 110,000 210,000 Net operating income $ 30,000 On average, a book sells for $40.00. Variable selling expenses are $3.00 per book; the remaining selling expenses are fixed. The variable administrative expenses are 5% of sales; the remainder of the administrative expenses are fixed.The contribution margin for the University Store for the first quarter is: A) $660,000 B) $700,000 C) $180,000 D) $140,000

Answers

Answer:

The University Store

The contribution margin for the University Store for the first quarter is:

= D) $140,000

Explanation:

a) Data and Calculations:

University Store,

Incorporated Income Statement

For the Quarter Ended March 31

Sales $ 800,000

Cost of goods sold 560,000

Gross margin 240,000

Selling and administrative expenses:

Selling $ 100,000

Administrative 110,000 210,000

Net operating income $ 30,000

Selling price per book = $40.00

Variable selling expenses per book = $3.00

Variable administrative expenses = 5% of sales

Sales Revenue        $800,000

Cost of goods sold   560,000

Selling expense          60,000

Admin. expense         40,000

Total variable costs 660,000

Contribution margin 140,000

Paper Company receives a $4,598, three-month, 3% promissory note from Dame Company in settlement of an open accounts receivable. What entry will Paper Company make upon receiving the note

Answers

Answer and Explanation:

The journal entry that should be recorded at the time of receiving the note is given below:

Notes Receivable - Dame Company $3,164  

      To Accounts Receivable - Dame Company  $3,164

(Being the receiving of the note is recorded)

Here the note receivable is debited as it increased the assets and credited the account receivable as it decreased the assets

If total assets decreased by $88,000 during a period of time and stockholders' equity increased by $71,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities is:_______.a. $17,000 increase b. $159,000 increase c. $88,000 decrease d. $159,000 decrease

Answers

Answer:

The total liability will decrease by $159000

Explanation:

Below is the calculations:

Assets = Liabilities + Equity

Since the asset is the sum of liabilities and equity so the decrease in assets will be subtracted from the asset and an increase in the liability will be increased in the equity.

Assets = Liabilities + Equity

Assets - $88000 = (Liabilities-159000) + (Equity + 71000)

Assets - $88000 = (Liabilities + equity) - 88000

Thus the total liability will decrease by $159000

a) The market for automobile tires after the price of rubber increases. b) The market for a hardcover book in which the publisher overestimated demand, charging more than the equilibrium price. (Instead of a shift, indicate the quantity of the shortage or surplus of the book.) c) The market for a normal consumer good after a significant rise in average income. d) The market for infant cribs after a significant decline in the birth rate. For the following three parts, answer each question completely, directly, and succinctly. e) If the demand for a good decreases, ceteris paribus, what will happen to the equilibrium price

Answers

Answer:

Decreases.

Explanation:

If the demand for a good decreases and all other things are equal then there will be decrease in equilibrium price because there is a direct relationship between demand and equilibrium price. In direct relationship, if one increases the other automatically increases and vice versa so same is the case with  demand and equilibrium price. As demand increases the equilibrium price will also increases and vice versa.

acc 450 An engagement in which a CPA firm arranges for a critical review of its practices by another CPA firm is referred to as a(n):

Answers

Answer:

peer review engagement

Explanation:

A peer review refers to the external review done on the periodic basis that represent the quality control system of the firm in accounting & auditing

Also it is an engagement where the CPA firm arranged the critical review by other CPA

So it is a peer review engagement

Hence, the same should be considered

The diligent matching of loan programs with the current financial circumstances of each customer is known as:

Answers

Answer:

Loan suitability.

Explanation:

A loan can be defined as an amount of money that is being borrowed from a lender and it is expected to be paid back at an agreed date with interest.

Generally, the financial institution such as a bank lending out the sum of money usually requires that borrower provides a collateral which would be taken over in the event that the borrower defaults (fails) in the repayment of the loan.

Loan suitability involves the diligent matching of loan programs with the current financial circumstances of each customer. This is usually done by checking the credit score of a potential borrower.

A credit score can be defined as a numerical expression between 300 - 850 that represents an individual's financial history and credit worthiness. Therefore, a credit score determines the ability of a borrower to obtain a loan from a lender.

ou own a portfolio that is 30 percent invested in Stock X, 20 percent in Stock Y, and 50 percent in Stock Z. The expected returns on these three stocks are 11 percent, 17 percent, and 13 percent, respectively. What is the expected return on the portfolio

Answers

Answer:

The expected return on the portfolio is:

= 13.2%

Explanation:

a) Data and Calculations:

Portfolio

Stock      Percentage  Expected    Weighted

                 Holding       Returns       Returns

Stock X        30%            11%                3.3%

Stock Y        20%            17%               3.4%

Stock Z        50%            13%               6.5%

Total          100%                                13.2%

b) The expected return on the portfolio is the addition of the weighted returns from each investment.  The weighted returns are obtained by multiplying the percentage holding of each stock with its expected returns.

Using the lower of cost or market, what should the total inventory value be for the following items:

Item Quantity Unit Cost Price Unit Market Price Total Cost Price Total Market Price
A 300 $15.00 $14.50 $4,500 $4,350
B 200 $14.00 $15.00 $2,800 $3,000
C 100 $17.00 $17.50 $1,700 $1,750

Apply the lower-of-cost-or-market method to inventory as a whole.

Answers

Answer:

The total inventory value based on the lower-of-cost-or-market value method applied to inventory as a whole is:

= $9,000.

Explanation:

a) Data and Calculations:

Item   Quantity   Unit Cost  Unit Market  Total Cost   Total Market

                               Price           Price            Price              Price

A               300     $15.00        $14.50        $4,500          $4,350

B               200     $14.00        $15.00        $2,800          $3,000

C               100     $17.00         $17.50         $1,700           $1,750

Total cost or market price                        $9,000           $9,100

If the exchange rate for Canadian and U.S. dollars is 0.92777 to 1, this implies that 13 Canadian dollars will buy ____ worth of U.S. dollars. (Select the nearest answer.)

Answers

Answer:

U.S. dollars = 14.012 U.S. dollars

Explanation:

Below is the exchange rate:

0.92777 Canadian dollars = 1 U.S dollars

Thus to find the amount of U.S. dollars bought from the 13 Canadian dollars, just divide the 13 Canadian dollars from 0.92777. Therefore the resulting answer will be the U.S. dollars.

U.S. dollars = 13 / 0.92777

U.S. dollars = 14.012 U.S. dollars

A good speaker in the Group discussion is the one who is always :
1. Loud
2.Loud and aggressive
3. Calm and composed
4. strong and powerful
5. confident and assertive

Answers

Answer:

5. confident and assertive

The process of gathering and evaluating information to determine whose interests should be emphasized throughout the project is called

Answers

Answer:

whose interests shoud be emphasized throughout the project

Explanation:

Suppose a financial manager buys call options on 26,000 barrels of oil with an exercise price of $111 per barrel. She simultaneously sells a put option on 26,000 barrels of oil with the same exercise price of $111 per barrel. What are her payoffs per barrel if oil prices are $106, $107, $111, $115, and $116?

Answers

Answer:

Explanation:

Suppose a financial manager buys call options on 24,000 barrels of oil with an exercise price of $119 per barrel. She simultaneously sells a put option on 24,000 barrels of oil with the same exercise price of $119 per barrel. What are her payoffs per barrel if oil prices are $103, $108, $119, $130, and $135? (Leave no cells blank - be certain to enter "O" wherever required. A negative answer should be indicated by a minus sign.) 130 $ 135 Market price Payoffs per barrel 108 $ 119 103 $ $

What do statistics show about most Americans’ financial management?

Answers

Answer:

46%of Americans couldn't come out with $400 in an emergency

It suggests that 46% of all Americans find it difficult to come up with four hundred bucks if there had been to be an emergency. Also, 60% of Americans will face that emergency within one year or less.

Why is it crucial to know about financial management?

Financial management helps in enhancing the profitability of organizations, increases the general price of the corporations or organizations, provides financial stability, encourages personnel to store money, and enables them in non-public economic planning.

Hence, this is the statistical information we get about Americans' financial management.

Learn more about financial management here:

https://brainly.com/question/989344

#SPJ2

An organization implements an information system to optimize its supply chain. The system helps the organization decrease wastage. Hence, the system provides a competitive advantage to the organization. Here, the information system helped the organization achieve competitive advantage by

Answers

Answer:

Reducing cost

Explanation:

Competitive advantage is defined as the edge a firm has over others that results in greater profits.

It can be as a result of technology, price, cost reduction, or quality.

In the given scenario where an organization implements an information system to optimize its supply chain by decreasing wastage, it is reducing its cost as a way of gaining competitive advantage over other companies.

The burden of a tax is shared by producers and consumers. Under what conditions will consumers pay most of the​ tax? Under what conditions will producers pay most of​ it? A. It depends on who is legally obligated to pay the tax. Typically producers are required to pay the tax and therefore bear most of the burden. B. If demand is relatively more elastic than​ supply, producers will pay more of the tax. C. It depends on who is legally obligated to pay the tax. Typically consumers are required to pay the tax and therefore bear most of the burden. D. If demand is relatively less elastic than​ supply, producers will pay more of the tax.

Answers

Answer:

B

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price  

Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price  

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.  

Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases  

Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.

If demand is more elastic than supply, if price is increased as a result of tax,  demand would fall more than supply. As a result, producers would bear more tax burden

The following refers to units processed by a breakfast cereal maker in August. Compute the total equivalent units of production with respect to conversion for August using the weighted-average inventory method.

Units of Product Percent of Conversion Added
Beginning Work in Process 282,000 40%
Units started 578,000 100%
Units completed 637,000 100%
Ending Work in Process 223,000 50%

Answers

Answer:

Total equivalent units of production = 748,500

Explanation:

This can be computed as follows:

Equivalent units of production (EUP) completed and transferred out = Units completed 100% = 637,000

EUP in Ending Work in Process = Units of Product * Percent of Conversion Added = 223,000 * 50% = 111,500

Therefore, we have:

Total equivalent units of production = EUP completed and transferred out + EUP in Ending Work in Process = 637,000 + 111,500 = 748,500

A firm produces 200 units hourly with $150 in labor costs an hour, $80 in materials costs an hour, and a fixed cost that works out to $20 per hour. First, what are this firm's hourly variable and total costs

Answers

Answer:

$230

$250

Explanation:

Variable costs are costs that vary with production

variable cost = labour costs + cost of raw materials

150 + 80 = 230

total cost = fixed cost + variable costs

Fixed costs are costs that do not vary with output. e,g, rent, mortgage payments

230 + 20 = 250

Red Raider Company uses a plantwide overhead rate with direct labor hours as the allocation base. Next year, 560,000 units are expected to be produced requiring 0.90 direct-labor hours each. How much overhead will be assigned to each unit produced given the following estimated amounts?

Estimated: Department 1 Department 2
Manufacturing overhead costs   $2,530,000  $900,000
Direct labor hours 168,000 DLH 110,000 DLH
Machine hours 30,000 MH   8,000 MH

a. $12.34 per unit
b. $63.95 per unit
c. $7.32 per unit
d. $11.11 per unit
e. $15.06 per unit

Answers

Answer:

d. $11.11 per unit

Explanation:

Plant wide overhead rate = Total manufacturing cotsts / Total direct labor hours

Plant wide overhead rate = ($2,530,000 + $900,000) / (168,000+110,000)

Plant wide overhead rate = $3,430,000 / 278,000

Plant wide overhead rate = $12.34 per DLH

Overhead cost per unit = Plant wide overhead rate * Direct hours per unit

Overhead cost per unit = $12.34 * 0.90

Overhead cost per unit = $11.11 per unit

Assume Sheryl Jenkins wants to accumulate $ 13,241.39 in two years. She currently has $ 10,621.36 to invest. What interest rate must she earn on her investment (that is, if she deposits $ 10,621.36 today) to have $ 13,241.39 exactly two years from today?

Answers

Answer: 11.65%

Explanation:

The $13,241.39 is a future value amount as it is what is to be accumulated in 2 years.

Future value formula therefore applies:

Future value = Current value * ( 1 + interest rate) ^ no. of years

13,241.39 = 10,621.36 * ( 1 + i) ²

(1 + i)² = 13,241.39 / 10,621.36

(1 + i)² = 1.24667556697

1 + i = √1.24667556697

i = 1.116546267 - 1

i = 11.65%

Suppose that an economy's labor productivity fell by 3 percent and its total worker-hours remained constant between year 1 and year 2. We could conclude that this economy's
1. real GDP declined.
2. capital stock increased.
3. production possibilities curve shifted outward.
4. actual production moved from one point to another on a fixed production possibilities curve.

Answers

Answer: 1. real GDP declined.

Explanation:

If labor productivity fell yet the workforce did not increase, that means that for Years 1 and 2, workers were producing less than they were producing before because the same number of people were producing.

This means that the amount of goods produced in the country would reduce and therefore GDP would reduce as well as GDP is the amount of goods and services produced in a country. If labor productivity had fallen yet the work-hours had increased, the increase in worker hours would have made up for the loss of labor productivity.

Perez Company acquires an ore mine at a cost of $1,400,000. It incurs additional costs of $400,000 to access the mine, which is estimated to hold 1,000,000 tons of ore. The estimated value of the land after the ore is removed is $200,000.1. Prepare the entry(ies) to record the cost of the ore mine.2. Prepare the year-end adjusting entry if 180,000 tons of ore are mined and sold the first year.3. Calculate the depletion expense from the information given.

Answers

Answer:

1. Date   Account titles and explanation         Debit            Credit

              Ore mine                                           $1,400,000

                    Cash                                                                  $1,400,000

          (To record ore mine cost)

2. Date   Account titles and explanation         Debit         Credit

               Depletion expenses                       $288,000

                       Accumulated depletion                               $288,000

               (To record depletion expenses)

3. Particulars                                 Amount

Cost                                                 $1,800,000 ($1,400,000+$400,000)

Salvage                                           $200,000

Amount subject to depletion         $1,600,000 ($1,800,000 - $200,000)

Total units of capacity                    1,000,000

Depletion per unit                              $1.6 ($1,600,000/1,000,000)

Units extracted & sold in period    180,000

Depletion expense                         $288,000 (180,000*$1.6)

Most executive information systems include a _____, which integrates information from multiple sources and presents it in a unified, understandable format, often as charts and graphs.
a. digital dashboard
b. decision support system database
c. model base
d. decision support system engine

Answers

Answer:

a. digital dashboard.

Explanation:

Management involves the control, planning and organization of the affairs of a business firm.

Basically, the management of an organization is saddled with the responsibility of planning, organizing, controlling and staffing within the organization.

An Executive information system is also referred to as an Executive support system and it can be defined as a management support system that enhances and supports all of the senior executive information and decision-making process.

Hence, most executive information systems (EISs) include a digital dashboard, which is typically used for integrating information obtained from multiple sources and then presents it in a unified, understandable format, often as charts and graphs.

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A technician builds an RLC series circuit which includes an AC source that operates at a fixed frequency and voltage. At the operating frequency, the resistance R is equal to the inductive reactance XL. The technician notices that when the plate separation of the parallel-plate capacitor is reduced to one-half its original value, the current in the circuit doubles. Determine the initial capacitive reactance in terms of the resistance R. The CPU is considered to be the............of a computer system Fixed expenses are $499,000 per month. The company is currently selling 5,000 units per month. The marketing manager would like to cut the selling price by $13 and increase the advertising budget by $33,000 per month. The marketing manager predicts that these two changes would increase monthly sales by 900 units. What should be the overall effect on the company's monthly net operating income of this change State the counting number in the periodic table of elements of the element considered to be the heaviest gas. (the answer should consist of numbers only) What is the area of trapezoid DEFG with coordinates D (4, 3), E (4, 0), F (2, 1), and G (2, 3)?10 square units5 square units3 square units2 square units Which is the best definition of federalism? what will the time for half life of the first order reaction? see screenshot below using trig solve for the missing angle Sodium and chlorine combine to form table salt.2Na(s) + Cl2(g) 2NaCl(s)Does this reaction obey the law of conservation of mass? A random sample of 49 measurements from a population with population standard deviation 1 = 4 had a sample mean of x1 = 11. An independent random sample of 64 measurements from a second population with population standard deviation 2 = 5 had a sample mean of x2 = 14. Test the claim that the population means are different. Use level of significance 0.01. What distribution does the sample test statistic follow? Explain. What steps can a reader use to figure out unknown words in a story? Check all that apply.think of other words that are similarlook around the word to see how it is usedlook for how often the word is usedreplace the word with a more familiar wordlook for smaller words within the word what is the domain of f(x)=3x/x-1 Successful readers ask themselves what is happening, why it is happening, and what it means, even though they do not always have the answers. What are the most important art forms in Africa? what is government and why is it important? Which expression is equivalent to8x^7y^8? Assume x>0. A spinner is divided into 6 equal parts. These sections are labeled with a number 1, one section has a 2, one section has a 3, and one section has a 4. If the spinner is spun two times, what is the probability it will land on both 2 sides? Franchising can be a beneficial way for entrepreneurs to get a head start in launching their own businesses since they do not have to pay the franchisor royalties after buying the franchise. true or false The ___ in an experiment is the factor that is beingchanged, or tested.- control group- dependent variable- independent variable- constant