Vaughn Company purchased supplies costing $7170 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supphes revealed $2100 on hand. The approprate adjusting journal entry to be made at the end of the pend would be a. Debit Supplies, $2100, Credit Supplies Expense, $2100 b. Debt Supples Expense, $2100; Credit Supplies, $210. c. Debit Supplies, $5070 Credit Supplies Expense, $5070. d. Debit Supplies Expense, $5070; Credit Supplies, $5070.
Answers
The journal entry to be made is Debit Supplies Expense, $5070 Credit Supplies, $5070 The correct option is(D). Supplies Expense is an expense account used by a company to record any decreases in the cost of goods sold or operating expenses. On the other hand, Supplies are assets used by a company to produce goods or services.
Here, Vaughn Company purchased supplies costing $7170 and debited Supplies for the full amount. At the end of the accounting period, a physical count of supplies revealed $2100 on hand. The amount of supplies used or consumed during the period can be calculated by subtracting the ending inventory from the beginning inventory. Beginning Inventory + Purchases - Ending Inventory = Supplies UsedBeginning Inventory is not given, but Purchases equal $7170. The Ending Inventory is $2100.
Therefore,Supplies Used = $7170 - $2100 = $5070Now, the Supplies Expense account needs to be increased (debited) by the amount of supplies used, which is $5070. Since supplies are being reduced, the Supplies account needs to be credited (decreased) by $5070.Therefore, the journal entry to be made is:Debit Supplies Expense, $5070Credit Supplies, $5070.
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Related Questions
All of the following are true regarding a decreasing term policy EXCEPT
A. The payable premium amount steadily declines throughout the duration of the contract.
B. The death benefit is $0 at the end of the policy term.
C. The contract pays only in the event of death during the term and there is no cash value.
D. The face amount steadily declines throughout the duration of the contract.
Answers
The statement "The payable premium amount steadily declines throughout the duration of the contract" is not true in the context of decreasing term policy.
To know that which statement is not true, we will the facts associated with 'Decreasing Term Policy';
The insurance amount keeps reducing with the policy's life at a rate which is previously decided at the time of insurance.The amount paid in premium remains stable across the duration of the insurance. Such a policy pays a non-consolidated amount if the insurer dies prior to the maturity of the agreed term.Thus, this shows that option A asserts a false claim regarding 'Decreasing Term Policy.'
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To increase collections of payments, you can use all of the following QuickBooks features, except:
A. E-mail Invoices
B. Customers with New Invoices Report
C. Customers with Overdue Balances Report
D. Reminder Statements
Answers
Answer:
(B) customers with new invoices report
Explanation:
You are the manager of a project that has an operating leverage rating of 2.8 and a required return of 14 percent. Due to the current state of the economy, he expects sales to decrease by 7 percent next year. What change should you expect in operating cash flows next year given your sales forecast?
Answers
Answer:
The change should you expect in operating cash flows next year would be 19.60%
Explanation:
In order to calculate the change should you expect in operating cash flows next year given your sales forecast we would have to make the following calculation:
change should you expect in operating cash flows=operating leverage rating*percentage of decrease sales next year
change should you expect in operating cash flows=2.8*0.07
change should you expect in operating cash flows=19.60%
The change should you expect in operating cash flows next year would be 19.60%
Businesses must consider four common objectives when deciding how the organization should be structured. Choose the consideration from the drop-down menu that is being described in each example below.
a. A manufacturer of medical supplies must ensure that its products meet strict FDA standards.
b. A distributor of snack foods configures its staff and warehouse operations to keep cost-per-delivery low as possible.
c. A manufacturer of automobiles uses teams of assembly line employees to solve production problems.
Answers
Businesses must consider four common objectives when deciding how the organization should be structured. a. A manufacturer of medical supplies must ensure that its products meet strict FDA standards.
Doing business is defined as generating income or raising capital through the production, acquisition, and sale of goods (such as goods and services). Also covered is "any activity or enterprise undertaken for profit." The owner of the business is responsible and liable for any promises made by the business since the business entity cannot be legally distinguished from the owner by the use of a business name. In the event that a company accrues debt, creditors may seize the owner's personal property. [6] Corporate tax rates are not allowed in a business setup. All business income is subject to personal taxation by the proprietor.The phrase is frequently used in everyday speech, but not by lawyers or government officials.
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A management accountant who avoids conflicts of interest meets the ethical standard of:
Answers
A management accountant who avoids conflicts of interest meets the ethical standard of: Integrity.
What is ethical standard of integrity?Ethical standard of integrity is when is truthful and honest and therefore can be defined as the way in which a person or an individual act or behave in way that is inline with the set ethical standard.
Based on the given scenario the accountant act in accordance with ethical standard of integrity which is why he avoided the conflicts of interest.
Therefore a management accountant who avoids conflicts of interest meets the ethical standard of: Integrity.
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From an internal control standpoint, the asset most susceptible to improper diversion and use is:.
Answers
From an internal control standpoint, the asset most susceptible to improper diversion and use is Cash.
What is cash?
Cash is the most liquid asset because it can easily be used in exchange unlike other assets.
Cash is classified under the Current Assets section of the balance sheet but is always presented first before debtors, inventory, and short-term investments.
Thus, from an internal control standpoint, the asset most susceptible to improper diversion and use is Cash.
A significant difference between monopolies and competitive firms is that A. a monopoly's demand curve is the industry's demand curve, while the competitive firm's demand curve is perfectly elastic. B. the competitive firm must drop its price to sell more while the monopolist can keep price constant. C. low entry barriers exist for monopolies, but not for competitive firms. D. competitive firms control market supply, but monopolies do not.
Answers
Answer:
A
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is a utility company
Because there is only one firm in the monopoly industry, a monopoly's demand curve is the industry's demand curve
When a user is entering data on a form, they would use which view?
Answers
Answer:
Form view
Explanation:
Form view can be regarded as screen display which is used to show one item or record that is been arranged like a preprinted form. FormView control helps in displaying a single record from a data source. A form can be regarded as database object which is used when entering, editing, or displaying data from a table or a query. It should be noted that When a user is entering data on a form, they would use Form view
A firewall can help to prevent which type of security breach?
A) Shoplifting
B) Embezzlement
C) Cybercrime
D) Theft of company computers
Answers
Answer:
C, Cybercrime
Explanation:
A firewall helps organizations across the globe prevent data breaches and hacking.
A firewall can help to prevent Cybercrime. Hence, option C is appropriate.
What is the meaning of Cybercrime?A crime involving a computer or computer network is referred to as cybercrime. Either the computer was the intended target or it was used in the crime. Someone's security or finances may be compromised through cybercrime.
Criminal action that uses or targets a computer, a computer network, or a networked device is known as cybercrime. The majority of cybercrime is conducted by hackers or cybercriminals who are after financial gain. However, there are times when cybercrime tries to harm systems or networks for factors other than financial gain.
Cybercrime, often known as computer crime, is the use of a computer to advance illicit activities like fraud and other intellectual property, identity theft, and privacy violations. Cybercriminals are either single people or groups of people who utilize technology to carry out illegal acts.
Hence, option C is correct.
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FILL THE BLANK. city, state or county health departments send _____ regularly to conduct foodservice inspections. fda-approved inspectors fda-approved inspectors certified chefs certified chefs sanitarians
Answers
City, state, or county health departments send FDA-approved inspectors, certified chefs, and sanitarians regularly to conduct foodservice inspections.
These inspections are essential to ensure compliance with food safety regulations and maintain public health standards.
FDA-approved inspectors are professionals authorized by the Food and Drug Administration (FDA) to assess food establishments and enforce regulations.
Certified chefs possess knowledge and expertise in food preparation and handling, allowing them to evaluate the quality and safety of foodservice operations.
Sanitarians, who are trained in public health and sanitation practices, play a crucial role in conducting inspections and identifying potential risks related to food handling, storage, and cleanliness.
These inspections serve as a preventive measure, helping to identify and address any violations or potential hazards that could compromise food safety.
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a (fill in the blank) is an individual who pays a lump sum plus a royalty or percentage of sales to a company in return for the right to operate a business in a specific location.
Answers
A licensee is an individual who pays a lump sum plus a royalty or percentage of sales to a company in return for the right to operate a business in a specific location.
Any company, group or person that has received authorization from another body to carry out an activity is known as a licensee. The authorization, or license may be granted explicitly or subtly. Through fees, royalties or some other form of revenue-sharing agreement, licensees will make restitution to the license's owner.
A licensee has been granted legal consent by another party to carry on a certain line of business over which the other party has some degree of ownership, control or responsibility. The licensee may pay an upfront charge (referred to as a licensing fee) or make a payment based on the income generated by the business agreement (referred to as a licencing revenue).
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What negative consequences might a company face if they failed to keep accurate financial records
Answers
Answer:
Taxes
Explanation: a negative consequence you may face is paying more taxes than what is called for, you have you pay it otherwise tax fraud is a thing. Not only that but when tax return comes around you won't get paid the full amount. Hope this helps.
A tax credit of $5000 for a person in a 35% tax bracket would reduce a person's taxes owed by?
Answers
A tax credit of $5000 for a person in a 35% tax bracket would reduce a person's taxes owed by $1,750.
What is tax credit?Tax credit can be defined as the money deducted from the tax you owe.
Using this formula
Tax reduction=Amount owe- Tax bracket percentage
Let plug in the formula
Tax reduction=$5,000×35%
Tax reduction=$1,750
Therefore a tax credit of $5000 for a person in a 35% tax bracket would reduce a person's taxes owed by $1,750.
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profiting from someone else’s work or taking it out of context without permission can be treated as a form of stealing and is legally termed __________.
Answers
Without authorization, using someone else's creation for financial gain or removing it from its intended context is known legally as "copyright infringement."
Copyright infringement refers to the unauthorized use, reproduction, distribution, or display of copyrighted material, such as literary works, music, films, photographs, or software. It involves using someone else's creative expression or intellectual property without obtaining the necessary rights or licenses.
Copyright laws grant exclusive rights to creators or owners of original works, allowing them to control how their works are used and distributed. These rights typically include the right to reproduce the work, prepare derivative works, distribute copies, perform the work publicly, or display it.
When individuals or entities engage in copyright infringement, they are essentially taking someone else's creative work and using it for their own gain without permission. This can harm the rights holder financially and undermine the incentive for creativity and innovation.
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Who's your favorite music artist?
Answers
Answer:
well i like kpop but i cant seem to choose between the groups txt, nct and ateez
Explanation:
paid Rs 1,00,000 to so Mrs Shakya as an advance to purchase office furniture.
It's journal voucher.....
Answers
Answer:
Dr. BE Mrs shakya, advance for furniture and fixtures
Cr. NRB
Suppose at the current price, the price elasticity of demand for a campus film series is 1.5. If administrators cut the price, total revenue will
Answers
If administrators cut the price of the campus film, total revenue will increase.
What is the price elasticity of demand?
The price elasticity of demand measures the percentage change in quantity demanded as a ratio of the percentage change in price.
If the price elasticity of demand is greater the one, it means that demand is elastic. This means that when prices are reduced, revenue would increase as the quantity demanded would increase.
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derivative works are copyrighted materials that have been altered or changed, like altering a copyrighted photograph in photoshop true false
Answers
Derivative works are copyrighted materials that have been altered or changed, like altering a copyrighted photograph in Photoshop is true statement .
What are derivative works?Derivative works are creations that are based on previously existing works. To create these derivative works, an artist takes an existing work and alters it in some way. The derivative work may not look like the original, but it still includes components of the original. Derivative works are subjected to copyright laws when the work is transformed. According to copyright law, a derivative work is a transformation of a work into a new form, either by modifying an existing work or by incorporating an existing work into a new work, such as a translation or adaptation.
Derivative works are protected by copyright because they build on or expand on the original work. However, the derivative work's copyright is limited by the original work's copyright. Derivative works include the following Transformative uses, which modify or add to the original work. Examples include a painting based on a photograph or a movie adaptation of a book. Translations, which transform an original work from one language to another. Abridgments, which are shortened versions of the original work.
Examples include magazine articles that summarize books or plays that are adapted for television. Sampling, which is the process of taking a portion of an original work and using it in a new work. Examples include music samples in rap songs or photographs used in collages or montages. In conclusion, the statement "Derivative works are copyrighted materials that have been altered or changed, like altering a copyrighted photograph in Photoshop" is true. Derivative works are created when artists alter or transform existing works, and they are subjected to copyright laws when the work is transformed.
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Which of these do you need to do when receiving criticism? A. Do not respond to criticism. B. Ignore the criticism. C. Respond to criticism with your own criticism. D. Consider the criticism as a learning experience. E. Ask your best friend what to do.
Answers
Answer:
D.
Explanation:
I'd say consider the criticism. This doesn't mean if someone is doubting you or ridiculing you they're right, but if the respectfully talk to you about the flaws in your business or in you as a person then you should ask yourself why do they fill this way. It's solely up to you to listen or not.
Drag the tiles to the correct boxes to complete the pairs. Match the different financial ratios with their one example of these ratios.
Answers
Answer: liquidity ratio-current ratio
Asset management ratio-total asset turnover ratio
Debt management ratio-leverage ratio
Profitability ratio-return on equity
Market value ratio-PE ratio
Explanation:
Answer:
Answer: liquidity ratio-current ratio
Asset management ratio-total asset turnover ratio
Debt management ratio-leverage ratio
Profitability ratio-return on equity
Market value ratio-PE ratio
Explanation:
Plato
Question 1 of 10
An investment that you bought for
profit
and sold for
made a
500;600
500;400
600;400
600;500
Answers
Answer:
500;600
an investment
4. Does inflation cause a change in demand? Explain the role of inflation in determining demand.
Answers
Answer:
Inflation is an increase in the general price level in an economy. It is probably caused by the relative increase in the amount of money in relation to the available economic production. If the social money supply increases and the country's production is not matched, the average price level will rise due to the increased demand for goods. Due to the price increases, the value of money, the purchasing power of money, decreases. You can buy less for the same amount, thus lowering demand.
Which action represents the key management function of strategic planning?
a. Determining that all nurses on the unit understand the current organizational philosophy
b. Evaluating the communication process between the pharmacy and the nursing departments
c. Monitoring data from the quality management initiative related to the last three orientation programs
d. Developing a 5-year plan that will incorporate the clinical nurse leader as a part of all nursing units
Answers
d) The key management function of strategic planning is developing a 5-year plan that will incorporate the clinical nurse leader as a part of all nursing units.
Strategic planning involves setting long-term goals and creating a roadmap for achieving them. Developing a 5-year plan that incorporates the clinical nurse leader as a part of all nursing units aligns with this function. It demonstrates a forward-thinking approach to address the organization's needs and goals. By incorporating the clinical nurse leader role, the organization aims to improve the quality of patient care, enhance coordination between nursing units, and streamline processes. This strategic decision ensures the utilization of nursing expertise and leadership at all levels, contributing to better outcomes and efficient resource allocation. While the other options may involve important management activities, they do not specifically pertain to strategic planning, which focuses on long-term organizational development and goal setting.
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To buy a product, customers in a market must first
Answers
To buy a product, customers must first have the need for the product.
Customers cannot just simply buy anything or everything when it comes to products. People love shopping but money is a very useful and powerful resource and customers understand it well, so they don't want to spend it on useless things.
Firstly, there should be a need or a desire to buy a particular product. After that the customer decides his or her budget or the money he would like to spend on that product. If it crosses his or her budget, then the customer may not able to buy the product.
Lastly, there should be willingness to buy the product. Nowadays, we get impressed by big brands, malls and stores giving us immense discounts for even our daily needs. That is how knowingly or unknowingly, we tend to shop more.
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*PLEASE HELP ME!*
Sara could practice her guitar or complete her calculus homework. She does not really want to practice her guitar but does so anyway, what is her trade-off?
practicing her guitar
completing her calculus homework
the time it took her to practice guitar.
practicing her guitar and doing her calculus homework
Answers
Answer:
C
Explanation:
What is the first thing the law requires you to do when you arrive at an intersection? Explain what you should do if there is an officer directing traffic.
Answers
Answer:
If a law enforcement officer if directing traffic where there are traffic lights, OBEY the officer – not the signals. You must yield the right-of-way to all other traffic and pedestrians at stop signs. Move forward only when the road is clear. At four-way signs, the first vehicle to stop should move forward first.
The very first action we do is stop at the junction as if it were a red light and waiting for police to notify you when it is safe to go.
Explanation:
If a police officer directs traffic in an area with traffic signals, respect the officer rather than the signals. At stop signs, you must surrender the right-of-way to all other cars and pedestrians. Only proceed when the road is clear. When approaching a four-way stop, the first car to halt shall proceed first.
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Susan invested $50,000 and Bill invested $150,000. Why did Susan have a higher balance at the age of 65?
Answers
The reason Susan had a higher balance at the age of 65 is because she invested earlier than Bill.
What is an Investment?An investment refers to an act of dedicating an asset for the hope of attaining an increase in value over a period of time.
In this case, even with lower investment value, Susan will be able to have higher balance because she invested for longer period than Bills.
In conclusion, Susan had a higher balance at the age of 65 is because she invested earlier than Bill.
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What are the basic forms of competition? Discuss
Answers
Answer:
Explanation:
La educación por competencias ha resurgido en todo el mundo con gran fuerza desde finales del siglo pasado. Las reformas del sistema educativo mexicano emprendidas en la última década y que comprenden todos los niveles tienen un elemento en común: un currículo con un enfoque basado en competencias. Al igual que en otros países, en México estamos viviendo una efervescencia por las competencias; no obstante, la confusión y la incertidumbre parecen ser el signo distintivo de estas reformas. Es cierto que el concepto de competencias es polisémico y complejo, que no existe una teoría unificada que sustente este enfoque y que carecemos de experiencia en la puesta en práctica de un currículo basado en competencias. Si a esto le sumamos la dificultad propia que entraña la evaluación del aprendizaje, diremos que las condiciones están puestas para que la ambigüedad y el desconcierto reinen en los centros educativos, tal como está sucediendo. Este artículo tiene como objetivo contribuir al debate teórico actual en torno a la evaluación de competencias, así como aportar algunos rudimentos de tipo metodológico que permitan a los profesores mejorar sus concepciones y prácticas de evaluación.
Palabras clave: educación por competencias, evaluación de competencias, currículo basado en competencias, aprendizaje por competencias.
What are the two major feelings that must exist for great ledership to happen?What is the problem with these two major components in adapting them in the workplace?
Answers
Answer:
Two feelings which are critical to the success of leadership are:
Trust andConfidenceExplanation:
The leader must be able to give and receive trust.
The followers must trust that their leader knows where he is headed and they have to be confident that that destination will be in favour of the entire team.
The leader in delegating responsibilities must trust that those to whom those tasks have been given will be able to complete it. He or she must also trust that those he has as followers have his best interest as he or she does theirs.
Adapting these components in the workplace is not reliant on the leader. Everything rises and falls on leadership and that is the major problem.
The leader must first trust that the followers will trust their capability. He or she has to earn their trust and depose that trust in their capabilities as well.
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Operations management is only about being as cost-effective as possible.
O True
O False
Answers
Answer:
True
Explanation:
Any kind of practice which allows a business or other organization to maximize the use of their inputs by developing products at a faster pace than competitors or reducing defects, for example.