subject
Business, 18.02.2020 19:21 ysabel0420

The downtown location of Chicago Clothiers purchases large quantities of supplies, including plastic garment bags and paper bags and boxes. At December 31, 2013, the following information is available concerning these supplies: Supplies inventory, 1/1/2013 $ 4, 150 Supplies inventory, 12/31/2013 5, 220 Supplies purchased for cash during 2013 12, 2690 All purchases of supplies during the year are debited to the supplies inventory.1) What is the expense reported on the income statement associated with the use of supplies during 2013? 2) What is the proper adjusting entry at December 31, 2013? By how much would assets and income be overstated or understated if the adjusting entry were not recorded?

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 09:40, nessross1018
Salt corporation's contribution margin ratio is 78% and its fixed monthly expenses are $30,000. assume that the company's sales for may are expected to be $89,000. required: estimate the company's net operating income for may, assuming that the fixed monthly expenses do not change.
Answers: 1
image
Business, 22.06.2019 10:50, slavenkaitlynn
Kimberly has been jonah in preparing his personal income tax forms for a couple of years. jonah's boss recommended kimberly because she had done a good job setting up the company's new accounting system. jonah is very satisfied with kimberly's work and feels that the fees she charges are quite reasonable. kimberly would be classified as a(n) (a) independent auditor (b) private accountant (c) public accountant (d) accounting broker
Answers: 1
image
Business, 22.06.2019 14:20, Champion9701
For the year ended december 31, a company has revenues of $323,000 and expenses of $199,000. the company paid $52,400 in dividends during the year. the balance in the retained earnings account before closing is $87,000. which of the following entries would be used to close the dividends account?
Answers: 3
image
Business, 22.06.2019 17:40, bsheepicornozj0gc
Within the relevant range, if there is a change in the level of the cost driver, then a. total fixed costs will remain the same and total variable costs will change b. total fixed costs will change and total variable costs will remain the same c. total fixed costs and total variable costs will change d. total fixed costs and total variable costs will remain the same
Answers: 3
You know the right answer?
The downtown location of Chicago Clothiers purchases large quantities of supplies, including plastic...

Questions in other subjects:

Konu
Mathematics, 17.07.2019 01:00
Konu
Mathematics, 17.07.2019 01:00