On January 1, Year 2, the Supplies account of Sheldon Company had a balance of $2400. During the year, the company purchased $7100 of supplies on account and made partial payments totaling $3300 on those accounts. On December 31, Year 2, Sheldon determined that there were $4300 of supplies on hand. Which of the following would be reported on Sheldon's Year 2 financial statements?
A. $4300 of supplies; $5200 of supplies expense
B. $4300 of supplies; $2800 of supplies expense
C. $6200 of supplies; $7100 of supplies expense
D. $6200 of supplies; $1900 of supplies expense
Answer: A
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Which of these documents would not qualify as primary research?
A) A recent survey of your company's top clients B) The most recent issue of a trade magazine in your industry C) Notes from a conversation you recently had with a local government official D) Your company's latest balance sheet E) Current budget figures
Suppose a country has a population of 76 million, of which 53 million are in the working-age population. Of those, 3 million are unemployed and 46 million are employed. a.Calculate the number of people who are in the labor force.b.Calculate the number of people who are not in the labor force.c.Calculate the labor-force participation rate.d.Calculate the unemployment rate.
What will be an ideal response?
Calin Corporation has total current assets of $615,000, total current liabilities of $230,000, total stockholders' equity of $1,183,000, total plant and equipment (net) of $958,000, total assets of $1,573,000, and total liabilities of $390,000.The company's working capital is:
A. $958,000 B. $1,183,000 C. $385,000 D. $615,000
Assume the following facts for Lowmann Company: The month-end bank statement shows a balance of $40,000; outstanding checks total $2,000; a deposit of $8,000 is in transit at month-end; and a check for $400 was erroneously charged against the account by the bank. What is the correct cash balance at the end of the month?
a. $33,600 b. $34,400 c. $45,600 d. $46,400