<h3>
Answer:</h3>
Debiting salaries Expense $400 and Crediting Salaries payable $400.
<h3>
Explanation:</h3>
We are given;
1 employees earns $ 100 a day
Therefore;
2 employees will earn $ 200 a day
The month ends on Tuesday, but the two employees works on Monday and Tuesday.
- Therefore, the month-end adjusting entry to record will be the amount earned by the two employees on the two days.
Two employees for 2 days = $200/day × 2 days
= $400
- But, salary is an expense, and in the accounts an increase in expense account is debited.
- According to the rule of double entry, an increase in salaries expense decreases the salaries payable. Therefore, we debit salaries expense account and credit salaries payable account.
- Therefore, the month-end adjusting entry to record the salaries earned but unpaid would be;
Debiting salaries Expense $400 and Crediting Salaries payable $400.
Answer:
The correct answer is B
Explanation:
Price elasticity of the demand evaluates the demand responsiveness after the change or variation in the product own price.
The formula for computing the coefficient of price elasticity, is the factors which affect the elasticity and also elasticity is vital for business when deciding the prices.
So, Filet mignon(F) sells for $20 per pound when compared to that of hamburger (H) which sells the product for $2.30 per pound. F have the higher price as compare to the H, therefore, the coefficient of the price elasticity of demand in absolute value will be high or larger for F than that of H.
Answer:When countries trade, their consumers have access to raw goods at cheaper prices, workers will produce better goods for export, and countries will become Richer..
Answer:
Corinne Company
Investing Activities Section of the Statement of Cash Flows:
Equipment sales $12
Equipment bought ($58)
Net cash used ($46)
Explanation:
a) Data and Calculations:
Balance Sheet of Corinne company at the end of 2025 and 2024:
2025 2024
Cash $50 $70
Accounts receivable (net) 320 270
Buildings and equipment 200 150
Accumulated depreciation
- buildings and equipment (36) (16)
Land 180 80
Totals $714 $554
Accounts payable $180 $146
Notes payable- bank long term 0 80
Mortgage payable 60 0
Common stock, $10 par 418 318
Retained earnings 56 10
Totals $714 $554
b) other information:
Land and Common Stock exchange
Equipment sold for $12 (cost $10 and book value $8)
Cash dividends $20
c) Equipment account
Beginning balance 150
Equipment sold -8
Balance 142
Closing balance 200
Purchase of new 58 (200 - 142)
