If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is $840.
For two employees and for two days, the adjustment made was 4 times their per day income.
Total month end adjusting entry will be 2×2×$210 = $840
What is Accounting Period?
- A set period of time, such as a calendar year or fiscal year, is referred to as an accounting period in which income balance of whole month is calculated.
- It is used for performing, aggregating, and analyzing accounting operations.
- The accounting period is helpful for investing because prospective investors can assess a company's success by looking at its financial statements, which are based on a set accounting period.
<h3>What is
Month-End Adjusting Entry?</h3>
- Month-End Adjusting Entry is a record created at the conclusion of an accounting period that allows an income or expense to be recognized in the timeframe in which it is incurred.
- Accruals, deferrals, and estimations are the three forms of Month-End Adjusting Entry that are most frequently used.
<h3>What is Fiscal Year?</h3>
- Companies and governments utilize fiscal years, which are one-year periods, for financial reporting and planning.
- The most typical accounting period utilized to create financial statements is a fiscal year.
- A company's fiscal year is based on 3 determining parameters namely financial reports, external audits, and federal tax filings.
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Answer:
1. Work Environment.
2. Salary and Benefits.
3. Aptitudes and Abilities.
4. Education and Training.
5. Tasks and Responsibilities.
6. Work Hours.
7. Values.
8. Career Outlook.
9. International Career Outlook.
Explanation:
Just completed it.
Answer:
SEP IRA
Explanation:
For this type of company, the best type of plan would be a SEP IRA. This refers to a Simplified Employee Pension Plan and is a plan that is set up by an employer, with deductible contributions made by the employer themselves. The employer sets the actual contribution rate when creating the plan, and provides all employees the same contribution rate. The annual contribution of such an account is capped at $56,000 in 2019 and the individuals may withdraw the total amount of the account tax-free when they turn 59 1/2 years old.
Personal finance<span> is the organizing your finances and making logical monetary decisions.</span><span> to the monetary decisions of an individual or family unit. It includes planning on your budget, savings, spending, resources, and wage. You must be careful with these decisions for future events and accidents can change plans.</span>
The correct answer would be, Planning, Organizing, Leading and Controlling.
Refer to Centrum Springs, Inc. when Riley learns all that it takes to be a manager, he will be involved in Planning, Organizing, Leading and Controlling
Explanation:
A person who is being considered for the position of a manager, must be competent in these four functions of management. The four functions of management are:
- Planning
- Organizing
- Leading and
- Controlling
These four functions of management are interconnected and the other one starts after the completion of one function.
So when Riley learns all that it takes to be a manager, then he will be involved in these functions of management, where he will make plans for the growth and profitability of the organization, then he will organize according to those plan, then he will lead others to work towards the plan and finally he will have to do the controlling process to evaluate the outcomes of each implemented plan.
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