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dimaraw [331]
3 years ago
9

Gamble Company adjusts its accounts at the end of each month. The following information has been assembled in order to prepare t

he required adjusting entries at December 31: (1) A one-year bank loan of $720,000 at an annual interest rate of 6% had been obtained on December 1. (2) The company pays all employees up-to-date each Friday. Since December 31 fell on Tuesday, there was a liability to employees at December 31 for two day's pay. Employees earn a total of $12,800 per week. (3) On December 1, rent on the office building had been paid for three months. The monthly rent is $7,000. (4) Depreciation of office equipment is based on an estimated useful life of five years. The balance in the Office Equipment account is $12,360; no change has occurred in the account during the year. (5) All fees totaling $19,800 were earned during the month for clients who had paid in advance. How much is owed the employees for their wages
Business
1 answer:
frozen [14]3 years ago
4 0

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

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One important change that resulted from the movement to enterprise systems was the creation of​ stronger, faster, and more effec
nignag [31]

The answer to the space provided is hops. Therefore, when we complete the sentence, we will have ‘One important change that resulted from the movement to enterprise systems was the creation of stronger, faster, and more effective hops among value chains.’

3 0
3 years ago
Within the domain of logistics management, the customer service concept implies that firms should:
kodGreya [7K]
I had to look for the options and here is my answer:

Within the domain of logistics management, the customer service concept suggests that the firms should simultaneously establish customer service levels and logistic costs in order to achieve the given strategic goals. (The answer is based on the actual options given).
6 0
3 years ago
Consider a risky portfolio. The end-of-year cash flow derived from the portfolio will be either $70,000 or $200,000 with equal p
astra-53 [7]

Answer:

$118,421

Explanation:

first we must calculate the expected value of the risky portfolio = ($70,000 x 0.5) + ($200,000 x 0.5) = $135,000

since your risk premium is 8% and the risk free rate is 6%m then you should discount the expected value by 8% + 6% = 14% to determine its current market price

= $135,000 / (1 + 14%) = $118,421

7 0
3 years ago
You have $12,500 you want to invest for the next 30 years. You are offered an investment plan that will pay you 7 percent per ye
lubasha [3.4K]

Answer:

Balance after 30 years = $151,018.50

Explanation:

In order to calculate this, we will calculate the future value on an amount invested, gaining interest over the years of investment, and this is given by:

FV = PV (1 + r)^{t}

where:

FV = future value

PV = present value

r = interest rate

t = time in years.

Hence the future value is calculated as follows:

1. For the first 10 years at 7% interest:

7% interest = 7/100 = 0.07

FV = 12,500 (1 + 0.07)^{10}

FV = 12,500 (1.07)^{10}\\FV = 12,500 * 1.967 = 24,589.392

2. For the last 20 years at 9.5%(0.095) interest:

Note that for the remaining 20 years, the present value (PV) used = 24,589.392, as ending balance after the first 10 years

FV = 24,589.392 (1 + 0.095)^{20}

FV = 24,589.392 (1.095)^{20}\\FV= 24,589.392 * 6.1416\\FV = 151,018.496

Total Future value earned = $151,018.50

5 0
2 years ago
Grossman lumber reported $102,000 net cash provided by its operating activities. if the company invests $4,000 in capital expend
sweet [91]

FCF is a measure of how much cash a business generates from operations, net of capital expenditures, which it can use for various purposes, such as reducing debt or paying out dividends. When calculating FCF, we take Cash provided by operating activities and subtract any capital expenditures. Grossman Lumber generated $102,000 in cash from operations, and invested 4,000 in capital expenditures, so its FCF is 102,000-4,000= $98,000. We are not concerned with dividends because dividends are not a capital expenditure. 

6 0
3 years ago
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