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Lynna [10]
3 years ago
11

On January 31, 2016, Charlie Company paid employees $6,500 for January wages earned. Prepare the general journal entry (without

explanation) needed. If no entry is required then write "No Entry Required."
Business
1 answer:
Soloha48 [4]3 years ago
5 0

Answer:

Jan, 31

DR Wages and Salaries Expense ..................................... $6,500

CR Cash .............................................................................................$6,500

<em>( To record wages paid to employees)</em>

Wages are expenses and so are debited when they increase.

Cash was used to pay the wages therefore it decreased and as an asset it is to be credited when it decreases.

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Axcel Software began a new development project in 2020. The project reached technological feasibility on June 30, 2021, and was
erik [133]

Answer:

$471,000.

Explanation:

Using percentage of revenue method calculating amortization rate:

$3,102,000 / ( $3,102,000 + $7,238,000 ) = 30%

The amortization of development cost of Axcel software will be the cost after 30 June 2021 when project reached technological feasibility till product release date which is $1,570,000.

Amortization of software development costs for year 2022 :

$1,570,000 * 30% = $471,000.

8 0
3 years ago
Raphael Corporation’s common stock is currently selling on a stock exchange at $157 per share, and its current balance sheet sho
IRINA_888 [86]

Answer:

$85 per share and $35 per share

Explanation:

According to the scenario, computation of the given data are as follow:-

We can calculate the par of shares by using following formula:-

Corporation’s Preferred Stock‘s Par Value is

= Preferred Equity ÷ No. of Preferred Outstanding Shares  

= $85,000 ÷ 1,000

= $85 per share

Corporation’s Common Stock‘s Par Value is

= Common Equity ÷ No. of Common Outstanding Shares  

= $140,000 ÷ 4,000

= $35 per share

 

7 0
3 years ago
What are the four components of the global business environment?
Mama L [17]

Geography, cultural and social factors, economic conditions, and political and legal factors are the four parts of the international business environment

5 0
3 years ago
Read 2 more answers
What does it mean to say​ that, at an exchange rate of 1 USD​ = 40 ​INR, the U.S. dollar is undervalued and the Indian rupee is
GenaCL600 [577]

Answer:

The US dollar is worth more value than INR.

Explanation:

The US dollar is worth more value than INR under flexible exchange rate system, quantity of dollar supplied exeed the quantity of dollar demanded. There are multiple factors which affect the valuation of currency. One of the factor is purchasing power parity, as it show the strength of domestic economy. Inflation is another factor affecting the currency of the nation, higher inflation rate lead the value of currency go down.

7 0
3 years ago
Present value​ (with changing interest​ rates). Marty has been offered an injury settlement of ​$12 comma 000 payable in 3 years
lesantik [10]

Answer:

If opportunity cost is 5%, PV=10,366.05

If opportunity cost is 6.5%, PV=9,934.19

If opportunity cost is 11.5%, PV=8,656.79

Explanation:

PV=Σ(\frac{CF_{t} }{(1+i)^{t} })

If opportunity cost is 5%: PV = \frac{12,000 }{(1+0.05)^{3} } =10,366.05

If opportunity cost is 6.5%: PV = \frac{12,000 }{(1+0.065)^{3} } =9,934.19

If opportunity cost is 11.5%: PV = \frac{12,000 }{(1+0.115)^{3} } =8,656.79

8 0
3 years ago
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