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4 years ago

Wages salaries expense is equal towhat?

1 answer:

6 0

Accounts such as Wages and Salaries Expense, Wages Expense, and Salaries Expense are used to record the gross wages and salaries earned by employees during the accounting period. Gross wages and salaries means the amount before payroll taxes and other with holdings.
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Please answer the questions you can

ValentinkaMS [17]

Answer:

11. Explain the primary functions of a commercial bank.

The Primary function of a commercial bank is to offer loans to individuals and businesses.

Explanation

A commercial bank receives money mostly from individuals and businesses opening saving or current accounts. Then they use these deposits to lend money to other businesses or individuals. This is possible because commercial banks only need to keep the 10% of the deposits made in a savings or current account.

Other functions of commercial banks are to offer security to the funds deposited by their customer, teach the customers financial education and give them possibilities of investment such as Certificate Term Deposits

17. Describe the procedure of opening a savings bank account in a bank

The procedure for opening a savings bank account is:

1. Fill in the application form.

2. Present the following documentation with your application: government-issued identification (a driver's license number, military ID, or other ID), your Social Security number, and a mailing address.

3. Go to a bank branch or to its website and open the account.

4. Make the initial deposit if required.

Explanation:

Opening a savings account will require that you identify yourself to the bank with a document that proves who you are, where you live, how old are you and how to contact you. This basic information is gathered in an application form that will be filed as the banks support in front of the regulators in case of an audit and will prove that you are a real person.

Afterwards the bank takes that information and check that everything is true and legal. After making that investigation you are granted with an account number and a card that you might use in any ATM to withdraw money.

For the las step of the opening of a bank account you need to deposit money so you have funds to save or make purchases.

3 0

3 years ago

The CEO of Lexington decides to impose a transfer price since the two divisions cannot agree. She chooses the highest feasible p

Sloan [31]

Answer: Not Sound as Company does not benefit as a Whole.

Explanation:

This question alludes to the presence of Divisions in a company tasked with producing different segments of a good.

One Division makes a segment of the good and transfers it for a price to the other division so that they may be able to show Revenue on their books.

The reasoning of the CEO of Lexington is flawed because if she chooses the highest feasible Transfer Fee for the goods it will be good for the Division doing the Transferring because they make more revenue.

However, it will increase the cost of those being transferred to by the same amount that it increase the revenue of the Division transferred from.

As a result, the increase in Cost and the Increase in Revenue in the two divisions will cancel each other out meaning that the company did not benefit.

8 0

3 years ago

Which statement indicates the impact of globalization on the African farming community?

svp [43]

The statement that indicates the impact of the Globalization on the African farming community is use of modern methods of farming increased the crop production of the people.

<h3>What is Globalization?</h3>

Globalization is a term which refers to the interconnection and interaction of the economy with that of the world's economy. It involves the exchange of the knowledge, trade, technology and even people.

The complete image of the question is attached below.

The African farmers faced many challenges but still they are graced with a very appropriate soil type, which has been aided by modern irrigation practices, fertilizers.

Many of the international aggro-processing company that set up factory near the village in the hopes of obtaining easy and cheap labor. As a result of these factors, people's crop production has increased dramatically.

Learn more about farming here:

brainly.com/question/12586721

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6 0

2 years ago

varicorp offers employee benefits such as flex-time, sabbaticals, and onsite daycare. varicorp knows its employees have a need f

Dovator [93]

Less stress and motivation

3 0

2 years ago

The following is a partial trial balance for General Lighting Corporation as of December 31, 2018: Account Title Debits Credits

stepladder [879]

Answer:

1. Net income is $441,000; and Earnings per share (EPS) is $1.47 per share.

2. Net income is $441,000; and Earnings per share (EPS) is $1.47 per share.

Explanation:

Note: This question is not complete and the data in its are merged together. See the attached pdf file for thee complete question with the sorted data.

The explanations of the answers are provided as follows:

1. Prepare a single-step income statement for 2013, including EPS disclosures. (Round EPS answers to 2 decimal places.)

Note: See part 1 of the attached excel file for the single-step income statement.

A single-step income statement refers to an income statement that reports the revenue, expenses and the profit or loss of a company by using only one equation to determine profits.

The equation of the single-step income statement can be written as follows:

Net Income = (Revenues + Gains) - (Expenses + Losses)

In the part 1 of the excel file, we have:

Net income = $441,000

Earnings per share (EPS) = Net income / Number of common shares outstanding = $441,000 / 300,000 = $1.47 per share

2. Prepare a multiple-step income statement for 2013, including EPS disclosures. (Round EPS answers to 2 decimal places.)

Note: See part 2 of the attached excel file for the multiple-step income statement.

A multi-step income statement refers to an income statement that reports the revenue, expenses and the profit or loss of a company by using multiple equations to determine profits.

These equations are given as follows:

Gross Profit = Net Sales – Cost of Goods Sold

Operating Income = Gross Profit - Operating Expense

Net Income = Operating Income + Other income (loss)

In the part 2 of the excel file, we have:

Net income = $441,000

Earnings per share (EPS) = Net income / Number of common shares outstanding = $441,000 / 300,000 = $1.47 per share

Download xlsx

6 0

3 years ago