answer.
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
Anna007 [38]
2 years ago
12

During their first year, Austin and Associates bought $32,000 worth of supplies for their CPA firm. When purchased, the supplies

were debited to Supplies and credited to Accounts Payable. What adjusting entry would Austin and Associates make if $8,000 worth of supplies were on hand at year-end?
Business
1 answer:
tia_tia [17]2 years ago
3 0

Answer:

Supplies Expense  = $24,000

Supplies  = $24,000

Explanation:

given data

bought for CPA firm = $32,000

supplies on hand = $8,000

solution

we know here that when $8000 supplies available out of $32,000  

so supplier during period will be = $32,000  - $8000

supplies expense = $24000

and that is express as

     Accounts title                            Debit              Credit

    Supplies expense                     $24,000  

    Supplies                                                             $24,000

You might be interested in
The service division of Raney Industries reported the following results for 2020. Sales Variable costs Controllable fixed costs
Blizzard [7]

Answer:

Controllable margin =$125,000

Return on investment = 20%

Explanation:

<em>Controllable margin is the difference between the sales revenue and the controllable cost. Controllable costs include variable and fixed cost directly under the control of the manager and which are influenced by his decisions.</em>

Controllable margin - Sales revenue - variable cost - controllable fixed cost

Controllable margin= $500,000 - $300,000 - 75,000 = $125,000

Controllable margin =$125,000

Return on investment = (controllable margin/ Average investment) × 100

                     = (125,000/625,000) ×  100 = 20%

Return on investment = 20%

3 0
2 years ago
Match each barrier of communication to the situation with which it corresponds.
SIZIF [17.4K]

Explanation:

A communication barrier is an obstruction which put off a message to be understood correctly by the receiver. Communication barrier prevents other person from fully understand the meaning conveyed in the message or the information, thoughts or ideas transferred to the other person. Following are the situations with the appropriate communication barriers in each situation.

1) First Situation

C) Lack of Assumptions.

2) Second Situation

A) Lack of Respect

3) Third Situation

B) Inadequate Feedback

7 0
2 years ago
Production Processes Manufacturers use several different production processes to create goods and services. This activity is imp
iragen [17]

Answer:

Refining crude oil into gasoline requires the use of chemicals, pressure, and heat to change the chemical makeup of the crude oil into a finished product of gasoline. PROCESS MANUFACTURING: deals with formulas and manufacturing recipes.  

A production plant that serves as a point where workers and robotics bring together all of the components that create automobiles. ASSEMBLY PROCESS: manufactured units follow an assembly line.  

Making steel is a process that cannot be easily stopped and restarted. CONTINUOUS PROCESS: the manufacturing process cannot be easily stopped.  

Allen-Bradley builds motor starters. The machines that Allen-Bradley uses can make different types of starters without slowing down the process. FLEXIBLE MANUFACTURING: different models can be manufactured in the same process.

A tractor manufacturer looked at their production techniques and eliminated the activities in production that do not add value to the consumer. LEAN MANUFACTURING: very simple and lean manufacturing process.  

A bicycle company makes 18 models in more than 2 million combinations. The customer chooses the model, size, color, and design. MASS CUSTOMIZATION: high degree of product customization.

8 0
2 years ago
Employees of Magnificent Manufacturing are spending the weekend restoring a home for a local family in need. The company and som
Alenkinab [10]

Answer:

Public relations

Explanation:

Public relations refers to how a company builds its relationship with the community and its consumers.

What Magnificent Manufacturing's employees are doing is a very nice action, but it is done to grab the attention of the press and get "good press" for the company. This way the community will have a positive view about the company.

6 0
2 years ago
During the Great Recession, consumer sentiment in the United States declined, leading to a decrease in consumer spending. Which
Ipatiy [6.2K]
C. A decrease in the money supply

Nearly 700 banks failed in waning months of 1929 and more than 3,000 collapsed in 1930. Federal deposit insurance was as-yet unheard of, so when the banks failed, people lost all their money. Some people panicked, causing bank runs as people desperately withdrew their money, forcing more banks to close. By the end of the decade, more than 9,000 banks had failed. Surviving institutions, unsure of the economic situation and concerned for their own survival, became unwilling to lend money. This exacerbated the situation, leading to less and less spending.
6 0
2 years ago
Other questions:
  • The courts and equal employment opportunity guidelines have mandated that performance measurements be based on
    8·1 answer
  • Quizno's is conducting a contest in which customers are asked to name a new sandwich. The winner gets a free sandwich each day f
    14·1 answer
  • Which of the following changes in retained earnings during a period will be reported the financing activities section of the sta
    13·1 answer
  • Edith's warehouse (adjusted basis of $450,000) is destroyed by a hurricane in October 2019. Edith, a calendar year taxpayer, rec
    13·1 answer
  • PRESENT VALUE OF AN ANNUITY Find the present values of these ordinary annuities. Discounting occurs once a year. 1. $600 per yea
    8·1 answer
  • Smash Company has 4 comma 000 machine hours available annually to manufacture badminton racquets. The following information is a
    7·1 answer
  • A company that usually sells satellite TV equipment for $50 and two years of satellite TV service for $450 has a special, time-l
    11·1 answer
  • In the first quarter of operations, a manufacturing cell produced 80,000 stereo speakers, using 20,000 production hours. In the
    7·1 answer
  • A product line is a group of products that are physically similar or are intended for a similar market. Which of the following i
    10·1 answer
  • What is the present value of the cost of the kiln if the installation cost is treated as a separate current expense
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!