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2 years ago

The adjusting entry for accrued expenses includes:________

Business

1 answer:

yulyashka [42]2 years ago

5 0

The adjusting entry for accrued expenses includes a debit to an expense account.

Accrued expenses are defined as costs that have already been paid but have not yet been recorded, requiring adjusting entries and the inclusion of costs like interest, salary, and tax expenses. The fact that the date on which salaries are received may not always coincide with the end of the accounting period necessitates an adjustment.

To record employee earnings that have been earned but not yet paid, an adjustment entry for accrued salaries and expenses is created. It's vital to debit wages expenses and credit salaries payable for this purpose.

Hence, option C is the correct option

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Your bank is offering you an account that will pay 20 % interest in total for a two-year deposit. Determine the equivalent disc

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Answer: a. 0.042 b. 0.086 c. 0.00692

Explanation:

NOTE: Convert months to years. So 24 months = 2 years.

a. Six months

Months to year conversion gives: 6months/24months as 1/4 years

= (1 + 18%)^ 1/4 — 1 x 100%

= 1.042 — 1

= 0.042

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b. One year

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= (1 + 18%)^1/2 — 1 x 100%

= 0.086

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c. 1 month

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= (1 + 18%)^1/24 — 1 x 100%

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garik1379 [7]

Answer:

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Variable Admin Expense............................................................40000

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Fixed Admin Expense...................................................................30000

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