Answer:
Debt Salaries payable is $8800
Credit Salaries expense is $8800
Explanation:
given data
earn unpaid and unrecorded salaries = $8,800
paid = $22,000
to find out
journal entry to reverse the effect
solution
here journal entry to reverse the effect January 1 journal entry to reverse the effect of the December 31 salary expense accrual is as
particular debt credit
Salaries payable $8800
Salaries expense $8800
as here unpaid salaries of December is paid in January
Answer:
<em>c. Planning</em>
Explanation:
Planning <em>is the method of determining what to do, how to do it, what to do and when. </em>
It is the method of deciding a plan of action so that the desired outcomes can be achieved.
This helps narrow the gap between where we are and where we want to go.
Answer:
Level of sales in dollars in order to generate a profit of $54,000 Fixed cost + Target profit/Contribution per unit $270,000 + $54,0000/0.75
= $432,000
Number of units to be sold
= Level of sales/Selling price
= $432,000/$36
= 12,000 units
The correct answer is A
Explanation:
In this case, we need to calculate level of sales in dollars, which is fixed cost plus target profit divided by contribution margin ratio. Then, we will calculate no of units to be sold, which is the level of sales divided by selling price.
Answer:
Option (b) is correct.
Explanation:
Given that,
Net income = $96,200
Depreciation expense = $6,300
Increase in net working capital = $2,800
Net cash from operating activity:
= Net income + Depreciation expense - Increase in net working capital
= $96,200 + $6,300 - $2,800
= $99,700
Therefore, the amount of the net cash from operating activity is $99,700.
The possession of a credit thin file is a liability and not an asset because its does not allows lender to access your credit worthiness which makes it hard to obtain loans or credit.
<h3>What is a credit scores?</h3>
A credit score serves an a finacial tool that helpt to tells about someone's creditworthiness.
Normally, the higher the credit score, the higher the rate of repayment of credit.
Hence, these credit score are used by lenders to decide whether to borrow, extend or deny credit for a borrower.
However, having a thin file is not considerd an asset in credit scores because its does not let us know the willing borrower's repayment history of credit.
Read more about credit scores
<em>brainly.com/question/26220899</em>
