Financial Accounting Topics    Cornerstone Exercise 3-21Adjustment for Supplies Pain-Free Dental Group Inc. purchased dental supplies of $18,200 during the year. At the end of the year, a physical count of supplies showed $4,125 of supplies on hand. Required:     Hide     1.  Prepare the adjusting entry needed at the end of the year.             Dec. 31                 (Record the use of supplies)                   2.  What is the amount of supplies reported on Pain-Free's balance sheet at the end of the year?$

Year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Inventory Prepaid rent Current Year 1 Year Ago 2 Years Ago $ 26,725 77,457 $ 31,858 95,459 8,436 240,403 30,967 41,290 43,529 52,503 73,671 8,200 220,389 3,372 193,642 $ 312,800 $ 42,115 69,129 162,500 Machinery, net Total assets $ 448,480 $ 386,621 Liabilities and Equity Accounts payable $ 110,555 Long-term notes payable 83,471 $ 65,992 88,034 Common stock 162,500 Retained earnings 91,954 162,500 70,095 39,056 Total liabilities and equity $ 448,480 $ 386,621 $ 312,800 Complete this question by entering your answers in the tabs below. Required 3A Required 3B Compute times interest earned for the current year and one year ago. Current Year 1 Year Ago Times Interest Earned Choose Numerator: / Choose Denominator: I II 11 Times interest earned times times

What would be the cash disbursements for month 3?                Description   Month 1   Month 2   Month 3  Month 4  Material Purchases   $ 175,000.00  $ 185,000.00  $ 215,000.00  $  190,000.00           Amount paid in month of purchase 65.00%     Amount paid in month after purchase 30.00%     Amount paid two months after purchase 5.00%     Discounts in month of purchase 3.50%     Discount in month after purchase 1.00%               Total Cash disbursements in month 3                 Show your work below    Description   Month 1   Month 2   Month 3

Assignment Problem Six - 1 (Reserves) Olivia Smith is the owner of an unincorporated business that does landscaping. The business began operations on January 2, 2019 and has a December 31 year end. The 2019 and 2020 results for the business can be described as follows: 2019 During its first year, the business had sales of delivered merchandise and services totaling $185,000. Of this total, $65,000 had not been collected on December 31, 2019. Olivia anticipates that $5,000 of these sales will be uncollectible. In addition to these sales of delivered merchandise and services, she received $23,000 in advances for merchandise to be delivered in 2020o. Olivia purchased a large supply of landscaping materials from the trustee of a bank- rupt landscaping business at a very good price. Since she is unlikely to use them in the next few years, she has arranged to sell these materials for $50,000. These materials have a cost of $40,000, resulting in a total gross profit of $10,000. Because of the…