Answer:
a) The debit and credit side of the unadjusted trial balance would be increased by $ 5200.
b) The debit side would remain unchanged. No effect will be seen in the adjusted trial balance.
Explanation:
Effect of adjustments on adjusted Trial Balance.
This first entry would increase the wages expense and increase the liability account in the adjusted trial balance. Both debit and credit side would be increased by an equal amount.
b) This would decrease the Supplies account and increase the supplies expense in the unadjusted account. As both are on the debit side there would be no effect in the debit total.
Sr No Account Debit Credit
<u>Original Entries</u>
a. Wages Expense 5200
Accounts Payable 5200
b. Supplies Expense 1125
Supplies Account 1125
<u>Correct Entries</u>
a. Wages Expense 5200
Accrued Wages Account Payable 5200
b. Supplies Expense 1125
Supplies Account 1125
<u>Difference:</u>
<u>a)</u> We see that the first entry which was original passed the debit side is correct but the credit side would have been of accrued wages instead of accounts payable . This is to raise the amount by which wages are still outstanding by an amount 5200 at the end of the month.
This would decrease the accounts payable increase the wages payable . If the adjustment is not made it the salaries payable is understated .
<u>b)This adjusting entry is correct.</u>
Answer:
A) $514,000.
Explanation:
Operating income = Gross profit - Operating expenses
Operating income = $629,000 - $115,000
Operating income = $514,000
The correct answer is Tax free.
An Accelerated Death Benefit (ADB) enables the holder of a life insurance policy to obtain a portion of the death benefit from the insurer before passing away. The policyholder must typically have a terminal illness with a life expectancy of two years or fewer.
<h3>How are benefits for hastened death paid?</h3>
A lump amount may be provided as part of some hastened death benefits. With a benefit for a terminal disease, this happens more frequently. Payments for chronic illnesses are more frequently made. According to Schelhaas, some accelerated death benefit riders are simple because they pay a specific portion of the death benefit.
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Answer:
the new market value of the company is $85,000,000
Explanation:
The computation of the new market value of the company is shown below:
= Number of shares × price per share + new shares × price per share
= 1,000,000 × $78 + $70 × 100,000
= $85,000,000
Hence, the new market value of the company is $85,000,000
We simply applied the above formula so that the correct value could come
Answer:
C. Business Strategy
Explanation:
White Leo Autos has four different cars and each of them operates as a separate Strategic Business Unit SBUs.
Business strategy is how the SBU competes in the market. The competitive strategy of the unit like differentiation strategy or cost leadership etc.
Corporate strategy focuses on how each SBU is operating and how it serves to the mission and vision of the organisation.
Functional strategy focuses on the different functions like HR, marketing, finance of each SBU.
