The answer is revenue stream.
Answer:
Explanation:
The computation of expense amount is shown below:
= Expenses - adjusted prepaid expense + adjusted accrued expense
= $35,200 - $500 - $450
= $34,250
The adjusted prepaid expense is computed by
= Ending balance of prepaid expense - beginning balance of prepaid expense
= $1,800 - $1,300
= $500
And, the The adjusted accrued expense is computed by
= Ending balance of accrued expense - beginning balance of accrued expense
= $1,200 - $1,650
= -$450
There is not enough info. please provide more.
Answer:
30.000
Explanation:
Income before taxes $300,000
Timing difference between books and Tax (A)
$100,000
Permanent difference cannot be considered for calculation of Differed tax liability or Deferred tax asset $40,000 (B) is zero
Total Timing deference (C=A+B) $100,000
Tax rate enacted for future (D) 30%
<h2>
Differed tax liability (C*D) $30,000
</h2>
<h2>
</h2>
Answer:
Correct answer is D. Credit to Salaries Payable for $8,000
Explanation:
Based on the basic underlying guideliness in accounting, specifically matching principle. All income and expenses should be reported during the period it incurred. Thus, all expenses incurred during the period even though it wasn't paid yet shoud be recorded to the book and that's the moment that the year-end adjusting entry is necessary.
On the above given problem, the salaries paid of $24,000 is presumed to have been recorded in the book already. Because it incurred and paid within the calendar period. In addition, the salaries accrued by the year end needs year-end adjustment<em> to recognize the salaries expense applicable for the period</em>. Journal entry of it is to debit salaries expense and credit salaries payable in the amount of $8,000.
