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
Bess [88]
3 years ago
13

Schneider Inc. had salaries payable of $60,000 and $90,000 at the end of Year1 and Year2, respectively. During Year2, Schneider

recorded $620,000 in salaries expense in its income statement. Cash outflows for salaries in Year2 were:
a.
$590,000.

b.
$620,000.

c.
$650,000.

d.
$530,000.
Business
1 answer:
Fittoniya [83]3 years ago
3 0

Answer:

The correct answer is option (A).

Explanation:

According to the scenario, the given data are as follows:

Salaries payable at the end of year 1 = $60,000

Salaries payable at the end of year 2 = $90,000

Salary expense in year 2 = $620,000

So, we can calculate the cash outflows for salaries in year 2 by using following formula:

Cash outflow = Salary recorded in year 2 + Salaries payable at the beginning of the year - Salaries payable at the end of year

= $620,000 + $60,000 - $90,000

= $590,000

Hence, the cash outflow for salaries in year 2 is $590,000.

You might be interested in
people who are into females only!!! what do you find the most attractive about a girl and what things do you want her to talk to
sergeinik [125]

Answer:

what kind of a question is this. im kinda confused like whaa

Explanation:

3 0
3 years ago
Read 2 more answers
What is a career help please I’m timed
Georgia [21]

Answer:

an occupation undertaken for a significant period of a person's life and with opportunities for progress.

8 0
2 years ago
Read 2 more answers
Holding all other things constant, if ramen noodles are an inferior good to Vanessa, then as her income increases, her demand cu
marishachu [46]

Answer:

:A) will shift left.

Explanation:

An inferior good is a good whose demand falls when income increases and demand increases when income decreases.

As Vanessas income increases, her demand for ramen noodles would fall. This would lead to a decrease in demand for ramen noodles and her demand curve would shift to the left.

I hope my answer helps you

6 0
3 years ago
Exercise 4-11 Computing net sales for multiple-step income statement LO P4 A company reports the following sales-related informa
dezoksy [38]

Answer:

Net sales revenue= 220,100

Explanation:

Giving the following information:

Sales, gross $ 245,000

Sales returns and allowances $ 20,000

Sales discounts 4,900

Sales salaries expense 10,900

<u>Sales salaries expense is not a part of the net sales in a multiple-step income statement. The net sales are as follow:</u>

Sales= 245,000

Sales returns and allowances=  (20,000)

Sales discounts= (4,900)

Net sales revenue= 220,100

4 0
3 years ago
g Cathy Rogers deposits $200 in currency in her checking account at a bank. This deposit is treated as:
Step2247 [10]

Answer: 4) No change in the money supply because the $200 in currency has been converted to a $200 increase in checkable deposits

Explanation:

The money supply refers to the total amount of money currently in circulation. In this instance it remains the same because no new money was introduced into the economy.

All that has happened is that Ms. Rogers took her $200 which was already in circulation and part of money supply and deposited it in her checking account. The money is therefore still in circulation, just not in immediate cash.

Money supply therefore remains the same.

4 0
3 years ago
Other questions:
  • Sam, who is age 60, was told by big company that he was being laid off. sam was offered a severance package of $5,000 if he woul
    6·1 answer
  • An ineffective market is one in which prices do not reflect all available information, so forward exchange rates will not be the
    5·1 answer
  • The amount of time it takes for an investment to double in value is called the doubling time for the investment. If the doubling
    15·1 answer
  • Tandoi Furniture started and finished Job 310 during April.The company's records show that the following direct materials were r
    15·1 answer
  • 7. The stock of Top of the Muffin currently pays a dividend of $11.40. The dividend is expected to grow by 20% per year for the
    6·1 answer
  • When partners own different portions of the business, the terms should be stated clearly in what document?
    6·2 answers
  • Which of the following LEAST affects the location of an industry
    13·1 answer
  • On December 31, 2020, Nash Inc. has a machine with a book value of $958,800. The original cost and related accumulated depreciat
    14·1 answer
  • Steve and Stephanie Pratt purchased a home in Spokane, Washington, for $575,000. They moved into the home on February 1 of year
    5·1 answer
  • A new york buyer is purchasing a property for $120,000. what will the seller pay in transfer tax if the rate is $4 per $1,000 of
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!