Melissa offers you $1,000 today or $1,500 in 5 years. you would prefer to take the $1,500 in 5 years if the interest rate is: 8%.
interest rate is the amount of interest payable each period, corresponding to the amount lent, deposited, or borrowed. The total amount of interest on a loan or borrowed amount depends on the principal amount, the interest rate, the frequency of compounding, and the length of time it is loaned deposited or borrowed.
interest rate is the amount the lender charges the borrower and is a percentage of the principal, i.e. the amount lent. The interest rate on a loan is usually recorded on an annual basis called the annual percentage rate (APR).
Learn more about interest rates here: https://brainly.com/question/20690803
#SPJ4
The rise in consumer demand for long-haul air travel and cars has been particularly marked where?
a. japan
b. europe
c. china
d. the uk
Option C is the proper response. Long-distance air travel as well as driving are becoming more popular with consumers as a result of the improving economy. For their work meetings, people are frequently commuting.
There is little doubt that living has gotten better steadily over the past few decades, despite occasional recessions, market collapses, and COVID-19. As living standards grew, a wide range of once-rich-only goods and services became generally accessible. The airline industry is the best example of how services have become more accessible to everyone. Those carriers were led by low-cost carriers (LCCs). Here, we'll examine that area of the market in more detail.Flying used to be a luxurious experience. The wealthy and business travellers were the main target audiences for airlines. The flyers were a well-fed and wined-up group. Flights back then hardly ever had a full cabin. The quiet passenger compartment was the perfect place to spread out and take a sleep.To know more about Air travels visit:
https://brainly.com/question/19954770
#SPJ4
Over the last two years, an american clothing manufacturer has partnered with a manufacturer in china to make clothes at a cheaper cost. How is this beneficial to both countries?.
It is a strategic partnership when two nations split the benefits and risks of launching a new business together in a different nation.
Define strategic partnership.A strategic partnership is a business relationship between two organizations, which is typically formally recognized by one or more business contracts (sometimes called a strategic alliance). An agency, business affiliate arrangement, or formal partnership organisation will typically outperform a strategic partnership. From handshake agreements to contractual collaborations to equity alliances, the creation of a joint venture, or cross-holdings in one another, strategic partnerships can take many different forms.
A strategic alliance is typically formed between two enterprises when they each have one or more business assets or skills that will benefit the other by advancing their respective industries. This may also imply that one company is providing some knowledge to assist the other company in expanding its market into other markets.
to know more about strategic alliance check the link given below:
brainly.com/question/14014533
#SPJ1
When two countries share the advantages and risks of starting a new company together in another country, that is a strategic alliance.
Define strategic alliance.A corporate relationship between two organizations known as a "strategic partnership" is often explicitly acknowledged by one or more business contracts (sometimes called a strategic alliance). A strategic partnership will often perform worse than an agency, corporate associate arrangement, or formal partnership organisation. Strategic partnerships can take many different forms, including handshake agreements, written contracts, equity alliances, the formation of joint ventures, and cross-holdings in one another.
When two businesses have one or more business assets or talents that will advance the other by advancing their respective sectors, they often create a strategic alliance. This could also mean that one company is supplying information to help the other company develop into new markets.
to know more about Strategic alliance check the link given below:
brainly.com/question/14014533
#SPJ1
When the production of a good generates external costs, the producing firm's supply curve will be:_______
When the assembly of a decent generates external costs, the manufacturing firm's supply curve are Below the social supply curve.
The curve reflects the total costs of the assembly to society. These include the loss of income for the fishers, increased costs associated with negative health effects of the pollution, lower property values along the river, etc. Since slope is defined because the change within the variable on the y-axis divided by the change within the variable on the x-axis, the slope of the provision curve equals the change in price divided by the change in quantity. Note that the slope is positive, because the curve slopes up and right. Since this supply curve may be a line, the slope of the curve is that the same in the least points.
Learn more about Supply Curve.
https://brainly.com/question/23364227
#SPJ4
One classic type of negotiation strategy is the market-based price model.
a. true
b. false
TRUE. -Classic type of negotiation strategy is market-based price model. Benchmark firms have driven down costs of supply chain performance.
Some of the foremost common are distributive negotiation, integrative negotiation, team negotiation, and multiparty negotiation. In distributive negotiation, parties compete over the distribution of a hard and fast pool . Here, any gain by one party represents a loss to the opposite.
To mount a successful negotiation campaign, negotiators have to follow these negotiation strategies: Never take victory without any consideration in a very complex, multiparty setting. Identify and nurture potential allies before you wish their support. Identify all of your likely and potential opponents at the beginning of the method.
A closed-loop supply chain uses reverse logistics to feed products that have served their purpose back to the market forward logistics process. A manufacturer creates a product, ships it to customers, then encourages customers to return it once they now do not need it.
learn more about negotiation strategies: https://brainly.com/question/14889079
#SPJ4
An organization's ______ is a one-sentence statement describing the clear and inspirational long-term desired change resulting from an organization's or program's work.
An organization's vision statement is a one-sentence statement describing the clear and inspirational long-term desired change resulting from an organization's or program's work.
A vision statement describes the organization's short-, medium-, and long-term objectives and what it hopes to become in the future. A company's vision statement serves as a target to work toward. Mission statements and vision statements are frequently mixed up.
Here are a few of the most motivational vision statement examples: Amazon: "Our mission is to build a place where people can come to find and discover anything they might want to buy online," the company states. Making the best ice cream in the nicest manner is what Ben & Jerry's is known for.
Learn more about vision statement here
https://brainly.com/question/4269555
#SPJ4
Calculate the amount of heat needed to melt of solid methanol () and bring it to a temperature of . round your answer to significant digits. also, be sure your answer contains a unit symbol.
The amount of heat needed for melting solid methanol will be 85.0 kJ.
What is meant by melting temperature?The melting point of a pure material is the temperature at which its solid and liquid phases may coexist in equilibrium. When heat is applied to a solid, its temperature will increase till its melting point has been reached. Further heating will result in the solid becoming a liquid without the temperature changing.
When the entire solid has melted, the excess heat will raise the temperature of the liquid. Compounds and elements can be identified by a particular melting point, which is a distinctive number. Most mixtures and unstructured solids melt at a broad range of temperatures.
Therefore, the melting temperature of methanol is 85.0 kJ.
Read more about melting temperature, here
https://brainly.com/question/12499685
#SPJ4
The ____________ of the note is the one that signed the note and promised to pay at maturity. the (maker/payee) of the note is the person to whom the note is payable.
The (maker/signer) of the note is the one that signed the note and promised to pay at maturity. The (maker/payee) of the note is the person to whom the note is payable.
A note that the maker has neglected to settle upon maturity is referred to as a dishonored note. The note is removed from notes receivable since it has matured, and the payee or holder reports the amount owed in accounts receivable. At the note's maturity date, the maker is obligated to pay the principal and interest.
Bad debt costs. Customers with (Bad/Invalid)(Collectible/Debts) accounts fail to honor their payment obligations. It is regarded as a cost associated with selling on credit. An amount owed by another party is known as a receivable.
To learn more about maturity from the given link.
https://brainly.com/question/28039417
#SPJ4
Match the description of each cluster to the cluster name.
With respect to the careers described, the description of each cluster matched to the cluster name is given as follows:
What is a career?
A career implies that you continue to do the same sort of work. A career might consist of one or many jobs. You can work for one or more firms. A "career path" is another term for a career. Education, training, and job experience all contribute to a career.
Lear more about careers:
https://brainly.com/question/28395846
#SPJ1
What management, organization, and technology issues did the city of mississauga have to address in developing a solution?
The City of Mississauga Goes Digital the town of Mississauga, a suburb of Toronto, is Canada's sixth largest city and a number one user of digital technology to boost operations and services.
It seeks to integrate technology into its operations and strategic and business planning, with technology plans for every utility defined in business plans and budgets. Mississauga incorporates a vibrant multicultural population and a thriving central city district, home to several Canadian and multinational corporations. However, since 1970, the Greater Toronto Area, including Mississauga, has seen a plain increase in low-income families and an analogous decrease in middle-income families. Mississauga has developed a wise City plan to supply a vision and framework to guide the city's adoption of digital technology. City leaders believe that digital technology should be accessible to everyone and supply opportunities for start-ups, schools and vulnerable households. Mississauga may be a leader in technology initiatives like social media and "bring your own device" (BYOD), which allows employees to use their own mobile devices for his or her work. Mississauga's website and online services are hosted in remote cloud computing centers accessible via the web.
Learn more about Digital the town management.
https://brainly.com/question/1276995
#SPJ4
Government expenditures create demand for goods and services. this is known as __________ and will cause ad to shift to the __________.
Government expenditures create demand for goods and services. this is known as expansionary fiscal policy and will cause ad to shift to the Right.
The aggregate demand curve says about the total demand for the economy. It also states us about the total demand at macro level. If an Average demand curve shifts to right then equilibrium quantity of output and the price level will rise. Average demand curve shifts to right then equilibrium quantity of output and the price level will fall. Fiscal policy is the use of government spending and the taxation which influence the economy. Government usually use fiscal policy to promote strong and sustainable growth and reduce poverty.
Learn more about Aggregate demand
https://brainly.com/question/1245771
#SPJ4
Given the cpa firm is auditing financial statements, why would they need to understand anything about the client's business?
Given the cpa firm is auditing financial statements, they need to understand anything about the client's business because entities face risk unique to their business.
A commercial enterprise is described as a business enterprise or enterprising entity engaged in commercial, industrial, or professional activities. agencies may be for-income entities or non-income businesses. business types variety from constrained legal responsibility agencies to sole proprietorships, groups, and partnerships.
Business improves the quality of lifestyles in ways. first of all, it offers goods and provider to the people required for his or her amusement, consolation, and fitness. Secondly, a enterprise offers employment opportunities to the human beings by means of which they are able to generate profits and improve the pleasant of lifestyles.
Learn more about business here:https://brainly.com/question/24553900
#SPJ4
Question 6 of 10
Which sentence best completes the diagram?
Globalization
?
A. Incomes improve for poor people in all countries.
OB. Fewer companies have a need for natural resources.
OC. Natural resources move from poor to rich countries.
D. Local businesses face less international competition.
Answer:
answer is c
Explanation:
yes
True or false: in a free-market economy, the market decides what will be exchanged but without government interference. group of answer choices
This is true that in a free-market economy, the market decides what will be exchanged but without government interference.
A free market is an idealized cognitive representation of an economic system in which sellers and purchasers negotiate prices for products and services based on supply and demand. According to models, these markets function without the involvement of the government or any other external authority.
An economy with a fully free market is one in which every resource is privately owned. Without the involvement of the government, individuals decide how to distribute such resources. There are no "free-enterprise" or "market economies" in their purest form.
The free market system generates products and services more effectively than any alternative when it is operating properly. It generates strong incentives for innovation and generally makes sure that people's salaries are commensurate with the value they contribute to society through their labor.
To know more about free market refer to: https://brainly.com/question/13172440
#SPJ4
You paid $1,052 for a corporate bond that has a 12.13 percent coupon rate. what is the bond's current yield?
The current yield of the bond will be 121.3/1052 = 11.53%
What is a corporate bond?A corporate bond is a bond that a corporation issues to obtain money for a number of purposes, such as continued operations, mergers and acquisitions, or business expansion. The phrase is typically used to describe longer-term debt instruments with a minimum one-year maturity. Commercial paper refers to corporate debt securities with maturities less than a year.It is a quicker method of raising money for business growth. Corporate bonds are a sort of debt that businesses issue and sell to investors to raise money for their operations. They stand for a speedier and simpler method of raising money than making equities available for purchase.To learn more about corporate bonds, refer to:
https://brainly.com/question/14971190
#SPJ4
Organizing sensory input that guides movement is a function of the __________. a. cerebellum b. pons c. medulla d. brainstem please select the best answer from the choices provided a b c d
Organizing sensory input that guides movement is a function of the cerebellum.
The cerebellum (“little brain”) is a structure this is positioned behind the mind, underlying the occipital and temporal lobes of the cerebral cortex (figure five.1). despite the fact that the cerebellum debts for about 10% of the brain's quantity, it includes over 50% of the whole variety of neurons in the brain.
The cerebellum is frequently accountable for muscle control, which includes stability and movement. It also performs a function in different cognitive features such as language processing and memory.
The cerebellum can also be divided by means of feature. There are three functional regions of the cerebellum – the cerebrocerebellum, the spinocerebellum and the vestibulocerebellum. Cerebrocerebellum – the most important division, formed through the lateral hemispheres. It is worried in making plans movements and motor studying.
Learn more about cerebellum here: https://brainly.com/question/1247675
#SPJ4
The amount of income a person receives before any taxes or deductions is (5 points)
net income
gross income
take home pay
earnings statement
Because the market outcomes in a competitive oligopoly are between those of a ________________, deadweight loss still exists, but it is lower than when there is collusion.
Because the market outcomes in a competitive oligopoly are between those of a monopoly and a perfectly competitive market, the deadweight loss still exists, but it is lower than when there is collusion.
An oligopolistic market, as Irving Fisher describes it, is a market with “no competition,” creating a situation where a particular person or company is the sole supplier of a particular thing. A monopoly is a situation in which there is only one seller in the market. In conventional economic analysis, the monopoly case is seen as the polar opposite of perfect competition.
A monopoly is a business that is the sole seller of its product and has no close substitutes. An unregulated monopoly has market power and can influence prices. Examples: Microsoft and Windows, DeBeers and Diamonds, your local natural gas company.
Learn more about monopoly here: https://brainly.com/question/13113415
#SPJ4
From a group of 20 ph.d. engineers, 10 are randomly selected for employment. what is the probability that the 10 selected include all the 5 best engineers in the group of 20?
The probability that the 10 selected include all the 5 best engineers in the group of 20, is 0.016.
What is Probability?The area of mathematics known as probability deals with numerical representations of the likelihood that an event will occur or that a statement is true.
An event's probability is a number between 0 and 1, where, roughly speaking, 0 denotes the event's impossibility and 1 denotes certainty.
The higher the probability of an occurrence, the more likely it is that the event will occur.
A straightforward illustration is the toss of a fair coin. The likelihood of "heads" and "tails" are both equally likely since the coin is fair; as there are no other conceivable outcomes, the probability of either "heads" or "tails" is half.
To learn more about Probability, refer to:
https://brainly.com/question/14210034
#SPJ4
A+company+lends+$15,000+at+8%+interest+for+3+months+on+june+1.+if+adjusting+entries+are+recorded+on+june+30,+how+much+will+be+credited+to+interest+revenue?
If adjusting entries are recorded on June 30, $100 will be credited to the interest revenue account.
We need to find interest revenue accrued for one month to answer this question. We first divide the interest rate by 12:
8% / 12 = 0.66667%
Now, we multiply this by the principal to find the accrued interest:
$15,000 x 0.66667% =$100
This is the amount credited to the interest revenue account.
Interest revenue is the earnings that an entity receives from any investments it makes, or on the debt it owns. Within the first quarter of the year, the company might also have earned $10,000 in interest profits, with $four,000 of that overall as paid by means of its commercial enterprise clients and the other $6,000 as unpaid interest. The company would file the complete $10,000 as interest sales.
Interest receivable is normally taken into consideration as a modern-day asset, but maybe non-modern-day under one exception. Present-day assets are any assets that will provide an economic value for or within one year. Interest receivable is an amount of interest that is owed but has not yet been paid.
learn more about assets here https://brainly.com/question/25746199
#SPJ4
Which famous economist is associated with the view that people will adapt their expectations about inflation based on prior experience?
There are two famous economists based on prior experience,
Milton Friedman & Edmund Phelps.
What is prior experience?Prior experience indicates that you have performed the job in the past, which is another way of saying that you are familiar with how the job is done.For instance, if you're applying for a position as a cashier and you've previously worked in another store, you have prior experience and are familiar with how things operate.An economic theory called adaptive expectations emphasizes the importance of past events in forecasting future results. Predicting inflation is a typical illustration. According to adaptive expectations, if inflation increases in the previous year, people will anticipate higher inflation in the following year.Pe = Pt -1 is a straightforward formula for adaptive expectations. According to this, people anticipate that inflation will be similar to last year.The hypothesis of adaptive expectations. the idea that people predict inflation based on historical inflation rates.Different weightings can be applied to prior years and the degree to which inflation diverged from predicted inflation in more complex adaptive expectation models.To learn more about prior experience, refer
to https://brainly.com/question/25922327
#SPJ4
The ten groups that present a company with its daily tasks to handle represent the company's _____ environment.
The ten groups that present a company with its daily tasks to handle represent the company's task environment. Therefore, the correct answer option is A. task.
What is task environment?Task environment can be defined as the external environment and factors of an organization which directly affects its ability to attain business goals.
Additionally, the internal environmental scanning offers an organization information about strength and weakness while the external environmental scanning provides information about opportunities and threats.
In conclusion, we can reasonably infer and logically deduce that these ten groups represent the company's task environment.
Read more on task environment here: https://brainly.com/question/13059617
#SPJ1
Complete Question:
The ten groups that present a company with its daily tasks to handle represent the company's _____ environment.
A. task
B. managerial
C. behavioral
D. internal
Research revealed what percentage of inc. 500 founders wrote formal business plans prior to launching their companies?
Research revealed that fewer than half of Inc. 500 founders wrote formal business plans prior to launching their companies, and nearly 30% had only basic plans.
Formal business is defined as a business that is registered with the national business registration authority as a business and with the tax authority in terms of tax. Sample 1: Formal business. - means a formal business in terms of the Business Act conducting business from a permanent building.
In formal organizations, authority is based on a chain of command and is more structured. Structured internal processes or authority hierarchies are not necessary for informal organizations. They are not established to accomplish particular objectives like a formal organization.
Learn more about formal business here
https://brainly.com/question/24140747
#SPJ4
What is the ending balance in retained earnings? ending balance in retained earnings
The beginning period, any net income or net loss, and any dividends are used to calculate the sum for retained earnings on the balance sheet.
A balance sheet is a financial statement that lists the assets, liabilities, and shareholder equity of a corporation at a certain point in time. Balance sheets serve as the foundation for calculating investor return rates and assessing a company's financial structure. The balance sheet, or statement of financial position, is a summary of the assets and liabilities of a corporation as well as the amount of shareholder investment. To do fundamental analysis or determine financial ratios, balance sheets can be utilized alongside other significant financial accounts. According to the balance sheet, assets are equal to the total of liabilities plus shareholder equity. Financial ratios are determined from balance sheets and used by fundamental analysts.
Learn more about balance sheet here
https://brainly.com/question/26323001
#SPJ4
When a transposition error is made on the trial balance, the difference between the debit and credit totals on the trial balance will be:_________
The difference between the debit and credit totals on the trial balance will be: divisible by 9
Only when two adjacent numbers are transposed.
Clarification why divisible by 9:It is a type of error that occurs when two digits are mistakenly reversed when reporting a transaction, those digits are often individual digit or part of a larger sequence. it's a type of error related to data entry and it is considered small and unintentional, but it could lead on to serious financial loss. Transposition error is divisible by 9 when two adjacent numbers are transposed which can result in mathematical error. it's an humanly induced error.
What is accounting error with example?Accounting errors are unintentional bookkeeping errors and are sometimes easy to spot and fix. for instance , if the debits and credits don't add up to the identical amount in the trial balance, an accountant can easily see what account is inaccurate
When the balance is out of balance due to a transposition error the difference between total debits and total credits are going to be evenly divisible by 9?
When an attempt balance is out of balance due to a transposition error, the difference between total debits and total credits are going to be evenly divisible by 2. error, the difference between total debits and total credits will be evenly divisible by 9. A bookkeeper posted the identical journal entry twice.
What Is a Transposition Error?
A transposition error describes an occasion where a bookkeeper accidentally reverses two adjacent digits, when recording transactional data. Although this error could seem small in scale, it often leads to substantial financial incongruities that can have a great impact in other areas.
Learn more about accounting errors :
brainly.com/question/25671653
#SPJ4
Why does titrimetric end-group analysis become impractical for determining the mn of polymers whose average molecular weight exceeds 25,000?
For Mn>25000, too little solution volume is used for titration because there are very few terminal groups.
What are the reasons?It is not possible to use a concentrated solution of these polymers due to the high viscosity of polymer solutions with Mn > 25000. This scenario is unsuitable.
Using highly diluted titrating agents; in this case, the titration curve is very flat and obtaining the equivalence point with an indicator is very challenging; even using an automatic titrator with the maximum sensitivity of the pH metre, it is possible to obtain very low repeatability. Likewise, using very diluted titration agents, polymers with moderately strong terminal groups, even those with Mn = 50000 uma, can be obtained with acceptable repeatability (e.g. HCl 0.01-0.02 N or NaOH 0.01 -0.02 N).
To learn more about titration visit:
https://brainly.com/question/2728613
#SPJ4
Jupiter explorers has $10,200 in sales. the profit margin is 4 percent. there are 6,500 shares of stock outstanding, with a price of $2.10 per share. what is the company's price-earnings ratio?
The company's price-earnings ratio is 1.80/0.090=20%.
Profit margin is a measure of profitability. it is calculated by using finding the income as a percentage of the revenue. There are three styles of income margins: gross income margin, operating profit margin and net income margin. Gross income Margin is calculated as gross earnings divided via internet sales.
Profit margin is the degree of your enterprise's profitability. it's far expressed as a percent and measures how a whole lot of every dollar in sales or services that your corporation keeps from its profits. profit margin represents the company's internet earnings when it is divided by way of the net sales or sales.
Jupiter Explorers
Sale $ 10,400
Net Profit margin 4%
Net Profit $ 416
Outstanding stocks in the market 4,600
Earning per share = $416/4,600
=$ 0.090 per share
Price / share =$ 1.80
Therefore PE ratio = 1.80/0.090=20%
Therefore P/E ratio is 20%
Learn more about profit margin here:-https://brainly.com/question/1231184
#SPJ4
A broker was told by his seller-principal not to advertise her property in the newspaper, which was just across the state line. the broker must comply with the seller's wishes because he select one: a. is required to comply with the interstate land sales full disclosure act. b. must obey the lawful instructions of his principal. c. only has an advertising contract with another newspaper. d. is allowed to advertise only in local newspapers.
A broker was told by his seller-principal not to advertise her property in the newspaper, which was just across the state line. The broker must comply with the seller's wishes because he selects one: must obey the lawful instructions of his principal.
The agent must disclose information about the roof to a possible buyer. it's an agent's duty to tell a possible buyer of any broker known material defects of the property, and it's not a violation of an agent's legal duty to the vendor.
As a buyer, you ought to receive this document broker during the contract contingency period. The TDS is arguably one in every of the foremost important documents of the whole mortgage process.
The seller must disclose all known material facts about the property that might reasonably influence a buyer's decision to shop for. The listing agent should give the broker vendor a Seller Property Disclosure Statement to fill out at the initial listing appointment. A settlement agent is additionally said as a closing agent.
The closing agent's role is to ensure all parties involved receive required documents during a loan closing. They supply escrow instructions to 3rd parties like property agents, to receive funds like fees and commissions.
learn more about broker: https://brainly.com/question/17011472
#SPJ4
When the business cycle has hit its peak and is about to enter a period of sustained economic contraction and the possibility of a sever recession, to maximize gains the prescient investor should not:_______.
When the business cycle has hit its peak and is about to enter a period of sustained economic contraction and the possibility of a severe recession, to maximize gains the prescient investor should not borrow money to buy real assets. Thus, option A is correct.
What is a recession?In the case of recession, the market is considered as a downward movement. That also means that the GDP is being affected and the unemployment rates as well as consumer spending that slow.
As in the business cycle, the person has been trying an attaining a business acquisition or property then the person should not borrow money to buy it as the company is going to enter a market that is going into recession and the market flow will be low, and it will create various consequences for the business. Therefore, option A is the correct option.
Learn more about recession, here:
https://brainly.com/question/14735206
#SPJ4
The question is incomplete, the complete question will be:
Borrow money to buy real assets. Buy nominal assets such as bonds.
O Lend money.
O Hold cash.
Sebastian is in the 24ederal tax bracket. if his taxable income is $100,000, how much will he pay in federal income taxes?
Sebastian is in the 24% federal tax bracket. If his taxable income is $100,000,Less than $24,000 will he pay in federal income taxes.
Calculating:
federal income tax= federal tax % × taxable income
24% × $100,000
= $24,000
What Is the Federal Income Tax?
The federal income tax can be considered as a tax on annual earnings for individuals, businesses, and other legal entities. All wages, salaries, cash gifts from employers, business income, tips, gambling income, bonuses, and unemployment benefits are related to a federal income tax.
Who pays federal income tax?
The top 50 percent of all taxpayers paid 97 percent of all individual's income taxes, while the bottom 50 percent paid the last 3 percent. The top 1 percent paid a greater share of individual income taxes (38.8 percent) than the bottom 90 percent combined (29.2 percent).
Learn more about federal income tax:
brainly.com/question/12217635
#SPJ4
In its 1st year of business, eel electric purchased $1,000 of supplies on account. During the year, it paid $700 of the amount it owed for supplies. At the end of the year, it had $200 of supplies remaining. What is supplies expense on the income statement equal?.
The supplies expense on the income statement equal is $4,700.
It started with $500 and purchased $5,000 but only has $800 of supplies left, thus it used $4,700.
The amount used is Supplies Expense and is recorded as an adjusting entry with a debit to Supplies Expense (+E,-SE) and credit to Supplies (-A) for $4,700. The Supplies balance on the balance sheet equals $800 (the supplies left).
An income statement, also known as a profit and loss account, is one of a company's financial statements and displays the company's receipts and outlays for a specific time period.
what is in an income statement ?
An earnings assertion is a financial report detailing a organization's income and charges over a reporting period. it could also be called a earnings and loss (P&L) statement and is typically prepared quarterly or yearly. earnings statements depict a organization's monetary overall performance over a reporting period.
Learn more about income statement https://brainly.com/question/14308954
#SPJ1
