The appropriate journal entry to completely account for this activity is:
Dr. Supplies expense $75,000
Cr. Accounts payable $75,000
What does purchase on account mean?
Purchase on account means that supplies whose value is $75,000 was purchased on credit with no cash payment, rather Richards Corporation promises to make payment at a later date.
In other words, we need to debit the increasing account and the fact the supplies have been used means that the supplies expense account should be debited such that the accounts payable, which indicates that the amount is owed is credited.
Find out more about supplies expense on:https://brainly.com/question/14464248
#SPJ1
Angie has two choices for living arrangements when she goes to college. She can choose to live in the dorm, which costs about $450 per month. She can walk to her classes and won’t need a car. She will also have one roommate she doesn’t know. Her other choice is to live in an apartment with two friends from high school. The apartment will cost about $500 per month, and there will be additional expenses like electricity and cable television. It is also about five miles from campus. Use the PACED decision process to decide what Angie should do. Show each step.
To use the PACED decision process and help Angie make her choice between the two living arrangement options when she goes to college, means she must take the following steps:
1. Declare the problem
2. List alternatives
3. Identify criteria
4. Evaluate alternatives
5. Make a decision
The acronym PACED therefore stands for problem, alternatives, criteria, evaluation and decision. So we will use this decision process according to Angie's information and needs.
Problem
Choosing between two living arrangement options when going to college.
Alternatives
She can live in the college dorm that costs $450 a month and can walk to her classes. The other option is to rent an apartment with friends, which will cost U$ 500 and will generate extra expenses with transport, electricity and cable TV.
Criteria
Step used to identify what makes one option better than another. In the option of living in the student dormitory, she would not have extra expenses with transportation, electricity and cable TV, in addition to the rent being cheaper than renting an apartment.
In the option of renting an apartment with friends, the benefits would be related to greater privacy, greater reliability in being with known people and greater comfort.
Evaluation
The option of living in the dormitory can be more advantageous, as it generates a reduction in expenses with rent, transport, food, electricity and time to get to classes.
Decision
The best decision for Angie at the moment would therefore be to live in the student dormitory, as it would be an opportunity to reduce her costs, meet new people and be closer to her college.
Therefore, the PACED method can be advantageous in helping to make more objective and effective decisions for different situations.
Learn more about PACED here :- https://brainly.com/question/27925011
#SPJ9
ASAP Please
Shelly purchased a $50,000 nonparticipating whole life insurance policy. The annual premium was $1,278. The cash value of the policy after 10 years will be $13,740. Assume a 5% interest rate. What is the traditional net cost of this policy, per thousand per year, over the first 10 years the policy is in force?
The traditional net cost per thousand per year is $- 1.92 is the traditional net cost of this policy, over the first 10 years the policy is in force of insurance policy.
What is the traditional net cost?The shortfall in the business between premium payments as well as the total of dividend plus the cash equivalent of the insurance constitutes the traditional net cost.
Total premium over 10 years
= 10 x Annual premium
= 10 x 1,278 = $12,780
Cash value = $13,740
Net over 10 year
= 12,780 - 13,740
= -960
Net cost per year
= - 960 / 10
= -96
$50,000 non-participating cost whole life insurance policy
Hence, the traditional net cost per thousand per year
= - 96 / 50,000 x 1,000
= - 1.92
Learn more about the traditional net cost, here:
https://brainly.com/question/28319983
#SPJ1
1. If the two totals of a trial balance are equal, does it mean that there are no errors in the accounting records? Explain
2. Assume that when a purchase of supplies of $2,650 for cash was recorded, both the debit and the credit were journalized and posted as $2,560. (a) Would this error cause the trial balance to be out of balance? (b) Would the trial balance be out of balance if the $2,650 entry had been journalized correctly but the credit to Cash had been posted as $2,560?
1. If the two totals of a trial balance are equal, it does not mean that the accounting records are free of errors.
2a) The error of commission cannot cause the trial balance to be out of balance.
2b) If the $2,650 entry had been journalized correctly but the credit to the Cash had been posted as $2,560, the trial balance would not balance because another account was debited with $2,650.
What are the errors that do not affect the trial balance?The errors that do not affect the trial balance or cause it to be out of balance include:
Errors of principleErrors of original entryErrors of omissionErrors of commissionCompensating errors.A trial balance will be out of balance if an error is made on one side of the ledger.
Learn more about the trial balance and accounting errors at https://brainly.com/question/25671660
#SPJ1
While Davidson outlines several issues that the parties are actually not terribly divided on, he also outlines two issues that are hyper-partisan. What are these fiscal issues and why do you think that the parties are so divided? Do you lean towards the Democrat or Republican view on these issues?
Davidson mentions tweaking the fiscal answers of raising the social protection retirement age, lowering medical care for rich seniors, and raising clinical healthcare contributions.
The two fiscal issues that are hyper-partisan are as follows:
Army protection spending and problems of taxes.
- The events are so divided chiefly due to the fact they have got severe opposites points of view on several problems.
- at the issues, I lean towards the Democratic view.
Democracy is a form of government wherein the humans have the authority to planned and determine regulation, or to choose governing officials to achieve this. The U.S. is an example of Democracy, they have got a consultant democracy wherein the people choose the executive and Legislative officials for the debate over guidelines that hobby the humans.
Democracy is a gadget of government in which legal guidelines, rules, leadership, and principal undertakings of a kingdom or different polity are immediately or in a roundabout way decided via the human beings, a collection historically constituted through only a minority of the population.
Learn more about Democratic here:- https://brainly.com/question/3710021
#SPJ9
Qualifications of baker
Qualifications of baker: No formal academic credential
A baker is a tradesperson who bakes and now and again sells breads and different merchandise made from flour via the use of an oven or other concentrated warmth source. The place in which a baker works is called a bakery.a person who makes breads, cakes, pastries, etc. Any avid baker knows that a success desserts and cookies regularly start with butter introduced to room temperature.
A baker is a person whose activity is to bake and sell bread, pastries, and cakes.
A Baker is a expert who prepares and develops baked items to add to a bakery's menu. they will also enhance diverse pies the use of pastry bags and put together garnishes as wanted when baking desserts, pastries, and many different dishes.Baking offers notable possibilities to upward thrust above your starting function. everyday bakers, who generally paintings in grocery shops or restaurants make, in line with the Bureau of labor records, an average annual earnings of $23,one hundred forty. skilled bakers, however, can get jobs in locations where they can earn more.
Learn more about baker here: https://brainly.com/question/24840268
#SPJ9
write in detail about the programmes of the institute of agriculture and animal science
Answer:
The mission of the institute is to promote agricultural science and to train manpower for agricultural development focusing on teaching, research and extension.
Explanation:
What is the purpose of a Summons?
A. A Summons tells the defendant to appear in court.
B. A Summons is a complaint against a party.
OC. A Summons is a reply to a Complaint.
D. A Summons is a pre-trial form of discovery.
Answer:
A. A Summon tells the defendant to appear in court
Explanation:
Why do you
think it's easier to forget entrepreneurship than labor or capital?
Entrepreneurship is much less tangible than other factors of production capital, that is why it's far more hard to discover.
Entrepreneurship is the assignment of latest business ventures that could eventually become profitable agencies. Some economists identify entrepreneurship as a factor of production due to the fact it is able to boom the effective performance of a company. Land refers to herbal resources, exertions refers to work attempt, and capital is anything made that is used to make something else. The final aid, entrepreneurship, refers to the capability to place the opposite 3 sources together to create capital.
Labor refers to all salary-incomes activities, including the work of specialists, retail workers, and so forth. Entrepreneurship refers back to the projects taken by way of entrepreneurs, who commonly begin as the first people in their firms after which regularly appoint different elements of production to grow their organizations.
Learn more about Entrepreneurship here:-
https://brainly.com/question/13628349
#SPJ9
A marketing information system.
A. is a collection of raw facts and figures collected from market
research
B. is software that creates tables, graphs, and charts that can be
used to market services and products
C. is a set of organized procedures and methods for gathering,
retrieving, and analyzing information needed to support marketing
decisions
D. is the result of organizing and summarizing facts and figures to
make them useful for marketing decision making
Marketing information system is software that creates tables, graphs, and charts that can be. An MIS, or marketing information system, is a system for collecting, storing, analyzing, and disseminating relevant marketing data to assist marketers in making better decisions.
A marketing information system's input focuses on gathering relevant internal and external data to analyze and interpret. Many retail companies, for example, give their customers loyalty cards, and many brands allow users to build profiles in their online store. Both loyalty cards and profiles assist firms in gathering information about their customers. Marketing intelligence system and research fulfil the marketer's desire for faster, more accurate decision making.
To learn more about Marketing information, click here.
https://brainly.com/question/28610652
#SPJ1
Answer:
A. is a collection of raw facts and figures collected from market research
Eagle Corporation operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current period, the
company reports the following amounts: Assets = $41,000; Liabilities = $22,500; Dividends = $2,100; Revenues = $12,200; Expenses =
$8,100.
Required:
1. Calculate net income.
Net income
2. Calculate stockholders' equity at the end of the period.
Stockholders' equity
Answer:
Eagle Corporation operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current period, the
company reports the following amounts: Assets = $41,000; Liabilities = $22,500; Dividends = $2,100; Revenues = $12,200; Expenses =
$8,100.
Required:
1. Calculate net income.
Net income
2. Calculate stockholders' equity at the end of the period.
Stockholders' equity
38:38
Mark is a college student and frequently needs to either rent a car or borrow his friend's car. Although he doesn't own a car of his own,
he wants to buy himself some liability coverage that would apply whenever he drives someone else's car. Which coverage should Mark get?
Mark is a college student and frequently needs to either rent a car or borrow his friend's car, Mark should get Non-owner coverage.
Non-owner coverage is non-public vehicles that your business would not own, rent, or lease. Non-owned automobile coverage helps provide legal responsibility and safety if a car you haven't leased, hired, or rented is pushed on your business and is a coincidence.
In case you drive often but do not own an automobile, a non-proprietor insurance policy provides legal responsibility coverage for bodily harm and property harm, which means that it'll cover you if you're answerable for damages or injuries in a coincidence.
Non-owner vehicle coverage is for individuals who sometimes drive an automobile they don't own but need to prove insurance. It affords liability coverage that will pay for accidents and assets that harm our purpose to other humans in a twist of fate. but, it doesn't cowl damage to the automobile you have rented or borrowed, nor for any accidents.
Learn more about Non-owner coverage here:-https://brainly.com/question/14445645
#SPJ9
