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Butoxors [25]
3 years ago
15

Cook Builders pays its workers every two weeks. As of December 31 of Year 1, workers have earned wages of $9,000 for which they

have not yet been paid; they will not be paid these wages until January of next year. The correct adjusting entry was made. On January 5 of Year 2, Cook Builders paid total wages to the employees of $13,000, of which $9,000 related to work performed last year. Which one of the following is included in the journal entry necessary on January 5 of Year 2 to record the payment of $13,000 in cash?
A. debit wage expense $13,000
B. debit wages payable $4,000
C. debit wage expense $9,000
D. credit wages payable $9,000
E. debit wage expense $4,000
Business
1 answer:
Dmitry_Shevchenko [17]3 years ago
8 0

Answer: E  Debit wage expense $4,000

Explanation:Cook Builders has in its books $9,000 wage payable as at 31st Dec year 1. On 5th Jan year 2, it paid the wage payable of $9,000 for year 1 plus $4,000 for the current year.

This makes the $4,000 a current year expenses on wages.

the Entries to the above is stated below as:

Credit Bank with $13,000 as cash is paid from the bank

Debit wage payable with $9,000 as outstanding wages for year 1

Debit wage expense with $4,000 as current week wage payment

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Pete Jackson purchased office equipment costing $3,000 for his business and paid immediately. record this transaction in the accounting equation by: decrease cash, increase equipment.

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1 year ago
Imagine that you are a management coach and one of your clients, a new manager, says, “I’ve heard that about two thirds of manag
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✔ Asking employees questions helps develop their critical thinking skills.

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✔ Asking employees how to solve problems empowers them to arrive at solutions to which they’re committed.

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A manager who asks questions with a sincere interest in the answers is engaging in dialogue similar to a “regular” back-and-forth conversation, and this authenticity builds trust and promotes the open exchange of ideas. Another key benefit is that having employees think about questions, rather than just telling them information or telling them what to do, engages their critical thinking skills—which are key skills for organizational success. Also, when employees are asked how to solve problems, they are likely to have more buy-in to the solution they arrive at than to a solution imposed on them. Many people are motivated by feeling as though their ideas make a positive difference.

Lower-level employees are often the experts in operational details and often have more direct contact with customers than higher-level managers, so they have tremendous expertise that can and should be tapped. Asking employees questions begins an organizational dialogue that can lead to a decentralized communication network, in which employees freely exchange ideas with one another and not just with their manager.

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  • This comparative advantage also increase the dependencies of nations or companies on each other.
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