Information relates to the supplies account

Assignment Help Financial Accounting

Reference no: EM13864520

The following information relates to the supplies account of ABC Company:

January 1, 2005 December 31, 2005

Supplies ? 38,000

ABC Company reported supplies expense of $17,000 in its 2005 income statement and purchased $23,000 of supplies during 2005.

Calculate ABC Company's supplies balance at January 1, 2005. Do not use decimals in your answer

Reference no: EM13864520

Questions Cloud

Conversion cost-direct labor cost : In September direct labor was 25% of conversion cost. If the manufacturing overhead for the month was $125,250 and the direct material cost was $27,000, the direct labor cost was:

One-half of these subscriptions began : During 2006, Sky Entertainment sold twenty 12-month subscriptions for its newly developed internet service. One-half of these subscriptions began on March 1, 2006 and the other one-half began on October 1, 2006. ABC Company began operations in April,..

Do you feel that the act is too restrictive and why? : Do you feel that the act is too restrictive and why?

Calculate the amount of interest expense related : Franklin Co. borrowed $60,000 from a bank on June 1, 2007 and agreed to pay it back in ten months at an interest rate of 14% per year. Calculate the amount of interest expense related to this loan reported in Franklin Co.'s 2008 income statement. Do ..

Information relates to the supplies account : The following information relates to the supplies account of ABC Company: Calculate ABC Company's supplies balance at January 1, 2005. Do not use decimals in your answer

Why are the crime rates increasing around the world : Discuss optical issues that are important in criminology research. Why are the crime rates increasing around the world

Identify the audit risks associated with and draw the detail : Identify the audit risks associated with and draw the detailed audit plan to carry out the audit

Develop practical understanding and application of actions : Develop a practical understanding and application of specific actions, processes, and techniques needed to move into the "next generation" of organizations.

Case study on lay off big macs radio boss tells staff : Top management at radio 2UE ordered the station's broadcaster not to make derogatory comments about McDonald's on air or the station would lose its $170,000 advertising account with the fast-food chain, according to a leaked in internal memo.

User Account

All Pages