1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jeka57 [31]
3 years ago
8

Fighting Irish Incorporated pays its employees $3,640 every two weeks ($260/day). The current two-week pay period ends on Decemb

er 28, 2018, and employees are paid $3,640. The next two-week pay period ends on January 11, 2019, and employees are paid $3,640.1. Record the adjusting entry on Dec. 31, 20182. Record the payment of salaries on Jan. 11, 20193. Calculate the 2018 year-end adjusted balance of Salaries Payable (assuming the balance of Salaries Payable before adjustment in 2018 is $0)
Business
1 answer:
krok68 [10]3 years ago
6 0

Answer:

1. Salaries expense A/c $780

               To Salaries payable A/c $780

(Being adjusting salary is recorded)

2. Salaries expense A/c Dr $2,860   ($260 × 11 days)

Salary payable A/c Dr $780

    To Cash A/c $3,640

(Being the payment is recorded)

3. $780

Explanation:

1. The adjusting entry is presented below:

Salaries expense A/c $780

               To Salaries payable A/c $780

(Being adjusting salary is recorded)

The salaries expense is calculated below:

= Salary per day × number of days

= $260 × 3 days

= $780

The number of days is calculated from Dec 28 to Dec 31

2. The entry would be

Salaries expense A/c Dr $2,860   ($260 × 11 days)

Salary payable A/c Dr $780

    To Cash A/c $3,640

(Being the payment is recorded)

3. The year-end adjusting balance would be

= Salaries Payable before adjustment + adjustment balance

= $0 + $780

= $780

You might be interested in
You and your best friend have decided to start a small coffee shop together while in college. Though you have been friends since
Sedbober [7]

Answer: It is important to establish limits through the partnership agreement, because by trust there could be disagreements in the future, some ideas for this agreement are the following:

I. The dividends resulting from the coffee shop profits must be distributed equally and will correspond to the amount resulting from discounting sales less costs and expenses.

II. Personal loans will not be allowed to the owners with the money taken from the coffee shop box.

III. It will not be allowed to consume the products of the coffee shop without paying what corresponds.

IV. Both owners will have the same rights to perform the duties of a manager.

3 0
3 years ago
Justify the establishment of a state owned compony
SSSSS [86.1K]
The establishment of a state -owned Company is really important for every nations, especially if it involved in the resources that is critically needed for the people.
For example, lets say that all of the water resources fall to the hands of capitalist. Imagine how expensive it could be to get a simple drinking water or for baths.i hop that helps
6 0
3 years ago
Presented below is the stockholders' equity section of Oaks Corporation at December 31, 2012:
diamong [38]

Answer:

a. $1,765,000

Explanation:

Total stockholder’s equity on December 31, 2013  =  Total equity at end 2012 – amount paid for 3,000 shares were reacquired at $28 per share – amount paid for 3,000 shares were reacquired at $35 per share + amount collect from 1,800 shares of treasury stock were sold at $30 per share + net income of $450,000

=  $1,450,000 – 3,000 * $28 – 3,000 * $35 + 1,8000 *$30 + $450,000 = $1,765,000

4 0
3 years ago
Giving away points <br> Come quick
mezya [45]

Answer:

Crab

Explanation:

crab likes points

6 0
3 years ago
Read 2 more answers
Your birthday is next week and instead of other presents, your parents promised to give you $2,200 in cash. Since you have a par
vfiekz [6]

Answer:

Interest revenue from the CD 470.04

Explanation:

we will calcualte the future value of the CD and from there calculate the interest:

Principal \: (1+ r)^{time} = Amount

Principal 2,200.00

time 8.00 (2 years x 4 quarter per year)

rate 0.02450 (9.8% divided by 4 quarter per year)

This divisions and multiplication are done to make time and rate be express i nthe same metric.

2200 \: (1+ 0.0245)^{8} = Amount

Amount 2,670.04

Now, we calculate interest revenue:

Amount - Principal

2,670.04 - 2,200 = 470.04

3 0
3 years ago
Other questions:
  • Golddigger services inc. provides services to clients. on may 1, a client prepaid golddigger services $65,000 for 6-months servi
    13·1 answer
  • Suppose a security has a bid price of $100 and an ask price of $100.12. At what price can the market-maker purchase a security?
    5·1 answer
  • A firm is currently operating at full capacity. Net working capital, costs, and all assets vary directly with sales. The firm do
    9·1 answer
  • At the broadest and vaguest level, cost-benefit analysis may be regarded simply as______________.a. systematic thinking about de
    13·2 answers
  • Consider an asset that costs $120 today. You are going to hold it for 1 year and then sell it. Suppose that there is a 25 percen
    12·2 answers
  • Jolly Company wants to have​ 10% of the next​ quarter's sales in units on hand at the end of each quarter. Inventory at the begi
    9·1 answer
  • Trapper Corporation is comparing two different capital structures, an all-equity plan (Plan I) and a levered plan (Plan II). Und
    13·1 answer
  • General Mattress Company makes Memory Foam mattresses, a mass-market high-volume product, and Magnetic Levitation mattresses, a
    10·1 answer
  • Tax preparation software can help prepare and file your
    15·1 answer
  • If a conventional loan is at 16% and the VA loan is at 15%, the lender will want to charge how many points to increase the yield
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!