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eduard
3 years ago
6

Can the economy grow without investment in new resources?

Business
1 answer:
zepelin [54]3 years ago
4 0
Your answer is false
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During January, Luxury Cruise Lines incurs employee salaries of $2.4 million. Withholdings in January are $183,600 for the emplo
garri49 [273]

Answer and Explanation:

The journal entry to record the  employee salary expense, withholdings, and salaries payable is shown below:

Salaries expense Dr $2,400,000

     To Income tax payable  ($360,000 + $150,000) $510,000

     To FICA tax payable $183,600

     To Account payable $24,000

     To Salaries payable $1,682,400

(being employee salary expense, withholdings, and salaries payable is recorded)

Here the expenses are debited and payable are credited as it increased the expenses and liabilities

6 0
2 years ago
Zook company is a wholesaler that buys footballs and then sells them to other businesses, such as sports authority and target. t
Misha Larkins [42]
Based on the given information above about the Zook Company which is a wholesaler company, the type of wholesaler that it falls into is in the JOBBER. It is classified as a jobber since the Zook company only has a limited merchandise as well as their functions are limited too. In addition, they do not give any feedback to the manufacturers from the retailers.
5 0
3 years ago
The income statement for Splish Traveler Company shows cost of goods sold $307,000 and operating expenses (exclusive of deprecia
enyata [817]

Answer:

a. $349,700

b. $209,900

Explanation:

The computation is shown below:

Before computing the cash payment made to supplier first we have to find out the purchase amount which is shown below:

(a) Change in Finished goods + purchase = Cost of goods sold

-$25,800 + purchases = $307,000

So, the purchase is $332,800

Now

Cash paid to supplier is

= $332,800 + $16,900

= $349,700

And,

(b) Cash paid for operating expenses is

= $229,000 - $8,000 - $11,100

= $209,900

5 0
3 years ago
A. : Anything that serves as a medium of exchange.
adelina 88 [10]
It’s money I’m pretty sure
8 0
3 years ago
Alex just graduated from college and is now in the market for a new car. He has saved up $4,000 for a down payment. He's decidin
kvv77 [185]

Answer:

1.  Medium of exchange, 2. Unit of Account and 3. Store of value

Explanation:

Please see attachment

4 0
3 years ago
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