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
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.

You might be interested in
Stones Corporation uses a predetermined overhead rate based on machine-hours to apply overhead to the manufacturing process. Las
likoan [24]

Answer: $5 per machine hour

Explanation:

Given the following :

Estimated manufacturing overhead cost = $550,000

Expected machine-hour to be incurred = 110,000

Actual manufacturing overhead = $575,000

Actual machine hour incurred = 120,000

The manufacturing overhead application rate:

Expected manufacturing overhead cost / Expected machine hour to be incurred

= $550,000 / 110,000 machine hour

= $5 per machine hour

8 0
3 years ago
Which of the following statements is false regarding audit reporting?
Mnenie [13.5K]

Answer:

None      

Explanation:

In simple words, audit reporting or auditing refers to the process under which an independent third part, licensed by the regulatory body, examines the financial statements of an organisation to check if such statements depicts fair information and are made as per the regulatory standards.

The auditor if satisfied gives the positive assurance and if not then he or she can ask for further information or can directly report the statements to the regulatory bodies.

8 0
3 years ago
Martha is a 50% partner in the am partnership and has an outside basis of $112,000 at the end of the year prior to any distribut
poizon [28]

Answer:

0 gain ; 72,000 basis

Explanation:

Given that

Outside basis at the end of the year = $112,000

Received a proportionate operating distribution in cash for $40,000

So by considering the above information, the amount of gain or loss is zero as she does not recognized in the distribution and her basis in her partnership interest is the remaining amount i.e

= $112,000 - $40,000

= $72,000

3 0
3 years ago
There are many ways to cash-flow your college education without going into debt. Provide a minimum of five options for cash-flow
Ghella [55]
<span>1. Get a part-time job.
</span>Many college campuses have opportunities to work to earn some extra money or a chance for your work to convert into money towards your tuition.<span>You can have your paycheck be directly deposited into your bank account so you don’t have to worry about cashing a paper check, and if you get a checking account, you can get a debit card to use your money at school for food, books, and other necessities.
</span>2. Sell your notes and study guides on Flashnotes.
Flashnotes is a way to make money doing something you will be doing anyways! This is a great way to help students, review your class material and make money, all at the same time.<span>Typing out the notes will help you remember what you learned, and reading something in someone else’s “voice” will help other students learn better since they are learning from their peers. Sell your papers through social medias and you can then send it through email or blog.
</span>3. Enter sweepstakes.
Many popular stores have surveys that you can take after you make a purchase. Many times, you get a coupon for a percentage off, but some surveys get you entered to win gift cards to the store. This is especially helpful if you shop there and if you typically buy living necessities at the store.

While winning is not guaranteed, if you shop there a lot, you may be able to get entered several times, increasing your chances of winning, compared to those who may not shop there a lot or even those who do not choose to take the survey.

4. Earn gift cards through online rewards websites and apps.

There are websites and apps that allow you to earn points that can be redeemed for gift cards. These sites and apps include Swagbucks<span>, </span>InstaGC<span>, </span>Inbox Dollars<span> and </span>ePoints. Points are earned through taking surveys, playing games, watching videos, and other activities.

Each activity has a specific point amount and they accumulate until you decide that you want to cash them in. Many of these sites give points for online shopping or signing up for offers, but do not sign up and pay for something that you do not really need, since that defeats the purpose.

5. Get paid to write reviews online.
There are websites, like SliceThePie.com, that pay you for reviewing the latest fashions and music. The longer and better your reviews, the more you get paid.

For example, on SliceThePie, while the maximum is typically nine cents per review, there are certain specials that allow you to get paid more. This usually happens on fashion reviews, but some music is occasionally higher paying.

Also, the more stars you have, the more you get paid. Stars are earned through predicting hits. While this is not a means of getting rich quickly, it definitely adds up after you go at it for a while. You can cash out once you reach ten dollars, and you get paid through your PayPal account.

7 0
3 years ago
A _____ _____ is similar to a bond payable but is normally transacted with a single lender such as a bank
777dan777 [17]

A note is transacted through a single lender but it is similar to a bond payable.

<h3>What are bonds?</h3>

Bonds are the trading securities in the stock market which provide a constant amount of interest to the holder of bonds.

A note is a kind of debt where one party, that is, the payer agrees to pay back against the amount taken from the other party, that is, the lender.  In the case of bonds, they are issued by companies to a large group of investors, called bond investors. Both are debts but contrasted on the basis of a number of lenders.

Therefore, the bond payable is similar to the note but differentiated due to the involvement of only one lender.  

Learn more about the bonds in the related link:

brainly.com/question/14064867

#SPJ1

6 0
2 years ago
Other questions:
  • A marketing plan includes this marketing objective: "Create positive feelings about our brand." What is the main problem with th
    14·2 answers
  • The economic cost nationwide of alcohol-related motor vehicle crashes annually is almost __________ billion dollars.
    6·2 answers
  • During a concealment investigation, an investigator fails to recognize that an invoice had been forged. This represents a: a. no
    11·1 answer
  • Anne Mullens is the bookkeeper for DWG Refrigeration Repair. One afternoon while she was preparing the bank deposit, a customer
    6·1 answer
  • Nora works as a media sales person for a sports gear manufacturing company. There is an upcoming sports event coming up and she
    11·1 answer
  • MONEY Deanna and Lise are playing games at the arcade. Deanna started with $15, and the machine she is playing costs $0.75 per g
    13·1 answer
  • A country has I = $200 billion, S = $400 billion, and purchased $600 billion of foreign assets, how many of its assets did forei
    14·1 answer
  • Financial managers use data prepared by accountants to develop strategies for improving the financial performance of the firm.
    7·1 answer
  • Using supply/demand analysis and words, demonstrate what a weakly enforced antiscalping law would likely do to the price of tick
    6·1 answer
  • The owner of an undeveloped lot agrees to sell the lot to a buyer. The written agreement identifies the parties, describes the p
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!