The asset account, Supplies, has a balance of $700 on January 1 . During January, the company purchased $16,000 of supplies on account and the liability was appropriately recorded. A count of supplies at the end of January indicates a balance of $900 . Which one of the following is a correct amount to be reported on the company's financial statements for the month ending January 31?
a. Supplies Expense—$15,800
b. Supplies on Hand—$700
c. Accounts Payable—$15,800
d. Supplies Expense—$16,700
a
You might also like to view...
Because hard feelings about group leadership and assignments have passed, the members of Robin's group now seem to be relating much better. At the meeting tomorrow, she should take advantage of this moment by
A. encouraging members to voice disagreements. B. helping the team identify group goals and values. C. helping people get to know one another. D. empowering the members. E. throwing a thank-you party.
The four types of schema we use to understand and respond to stimuli are ______.
a. prototypes, stereotypes, prejudices, and relational constructs b. prototypes, stereotypes, interpersonal constructs, and scripts c. prototypes, interpersonal constructs, scripts, and interpretation d. stereotypes, prejudices, scripts, and interpretation
The three central trends in Marketing 3.0 are collaborative marketing, globalization, and ________
A) cultural relevance B) horizontal marketing C) consumer well-being D) the rise of a creative society E) sustained technological development
Which of the following statements regarding a 20-year monthly payment amortized mortgage with a nominal interest rate of 10% is CORRECT?
A. Exactly 10% of the first monthly payment represents interest. B. The monthly payments will increase over time. C. A larger proportion of the first monthly payment will be interest, and a smaller proportion will be principal, than for the last monthly payment. D. The total dollar amount of interest being paid off each month gets larger as the loan approaches maturity. E. The amount representing interest in the first payment would be higher if the nominal interest rate were 7% rather than 10%.