Answer:
$5,120
Explanation:
Workers are paid $12,800 per week (five days), since December 31 fell on a Tuesday, accrued wages payable will be equal to the wages proportional to two days:
= ($12,800 per week / 5 days per week) x 2 days = $2,560 per days x 2 days = $5,120
The appropriate journal entry should be:
December 31st, wages payable:
Dr Wages expense 5,120
Cr Accrued wages payable 5,120
A risk assessment grid is used to describe the overall process or method where you: identify hazards and risk factors that have the potential to cause harm. You also analyze and evaluate the risk associated with that hazard.
(Ex: Qualitative and Quantitative)
Answer:
1 - Financing activity
2- Operating activity
3- Financing activity
4- Investing activity
5- Investing activity
Explanation:
Basically there are three types of activities:
1. Operating activities: It includes those transactions which affect the working capital, and it records transactions of cash receipts and cash payments.
2. Investing activities: It records those activities which include purchase and sale of the long term assets
3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.
So the categorization is shown below:
1. Issued $160,000 of bonds payable - cash flow from financing activity
2. Paid utilities expense - cash flow from operating activity
3. Issued 500 shares of preferred stock for $45,000 - cash flow from financing activity
4. Sold land and a building for $250,000 - cash flow from investing activity
5. Loaned $30,000 to Dead End Corporation, receiving Dead End’s 1-year, 12% note. - cash flow from investing activity
Answer:
Current liabilities:
Notes payable $8,000
Non-current/long-term liabilities:
Notes payable $1,224,000
Explanation:
The actual amount of notes payable at 31st December is the difference between the short-term debt and the amount of cash realized from the issue of common stock whose proceeds are meant to be used in liquidating the short-term debt.
The actual amount of notes payable=$1,232,000-$1,224,000=$8,000
By issuing common stock of $1,224,000 to repay the short-term debt,the $1,224,000 is effectively converted to funding of long-term nature,hence classified as long-term liabilities
I think it would be generic brand
