Answer:
The amount that Gees Consulting would report as the ending balance in the R. Gees, Capital account at the end of the year is $8,000
Explanation:
For computing the ending balance of capital account, first, we have to compute the net income or loss which is shown below:
Net income/loss = Fees revenue - salary expense - rent expense - supplies expense
= $10,000 - $7,000 - $6,000 - $6,000
= ($19,000)
Now the ending balance would be
= Opening capital - net loss - drawings
= $18,000 - $9,000 - $1,000
= $8,000
The method that Stefano’s group used in presenting its recommendations is A SYMPOSIUM. A symposium is basically a public presentation in which a number of people present prepared speeches on different aspects of the same topic; this was exactly what Stefano’s group decided to do in presenting their policy for increasing child safety in the homes of gun owners.
Answer:
Work in process inventory ($83,000 + $32,000) $115,000
Factory overhead $19,000
To wages payable $134,000
(Being the labor is recorded)
Explanation:
The journal entry is shown below:
Work in process inventory ($83,000 + $32,000) $115,000
Factory overhead $19,000
To wages payable $134,000
(Being the labor is recorded)
For recording this we debited the work in process inventory and factory overhead and credited the wages payable so that the correct posting could be done
Answer:
The correct option is A,debit salaries expense $9,900.00 and credit salaries payable $9,900.00
Explanation:
As at 31st December, which was a Wednesday, the company would have incurred salaries for three days i.e Monday-Wednesday.
If each day costs $3,300.00 in salaries ,hence three days would cost $9.900.00(3*$3,300.00) in total.
Since amount of salaries owed is $9,900.00, an entry has to passed in salaries payable account to show that the business has an obligation of $9,900.00 to settle by crediting salaries payable account and the corresponding debit entry would be in salaries expense account in order to recognize costs.
Because people are desperate lol
