Business, 03.03.2020 03:32 my1445

At February 1, 2022, the balance in Bonita Industries supplies account was $3080. During February Bonita purchased supplies of $2640 and used supplies of $3520. At the end of February, the balance in the Supplies account should be . a. $9240 debit. b. $3080 debit. c. $3960 credit. d. $2200 debit.

Answers: 1

Show answers

Answers

Answer from: brebre63

Balance of Suppliers Account is $2200 debit

Explanation:

It is important to know that the Supplies Account increases on the debit side and decreases on the credit side.

On 1 February the account was $ 3080 and this was a debit since it was an existing balance.

Purchase during the year by Bonita Industries increased the Supplies Account. A debit entry of $2640 must be recorded.

Used supplies during the year decrease the Supplies Account. A credit entry of $3520 must be made

There for the balance left $2200(3080+2640-3520) is still on the increase side (debit).Hence the answer $2200 debit is correct.

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

Answer from: Quest

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be (amount of tax / original cost price ) × 100

(1.54 / 22) × 100 → (0.07) × 100 = 7

so the tax rate is 7%

we can double check the answer.

7 % of 22 → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

Another question on Business

Business, 21.06.2019 21:40

Bella is the new president of first edition, a group dedicated to the promotion of english literacy in first-generation immigrant communities. in the two years that have passed since bella took the position, the organization's members have become more passionate about their mission and intensified their activities—they put in long hours teaching children to read, promoting the program to parents, and soliciting donations. bella's strength is in her ability to inspire others and make them believe that they are part of something greater than themselves. which term best captures bella's leadership style? a. transactional b. transformational c. legitimate authority d. absolute authority

Answers: 1

Answer

Business, 22.06.2019 11:00

Alocal barnes and noble bookstore ordered 80 marketing books but received 60 books. what percent of the order was missing?

Answers: 1

Answer

Business, 22.06.2019 15:20

On january 2, 2018, bering co. disposes of a machine costing $34,100 with accumulated depreciation of $18,369. prepare the entries to record the disposal under each of the following separate assumptions. exercise 8-24a part 2 2. the machine is traded in for a newer machine having a $50,600 cash price. a $16,238 trade-in allowance is received, and the balance is paid in cash. assume the asset exchange has commercial substance.

Answers: 2

Answer

Business, 22.06.2019 17:40

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.

Answers: 3

Answer

You know the right answer?

At February 1, 2022, the balance in Bonita Industries supplies account was $3080. During February Bo...

Questions