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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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You have just started your first job and are already planning for retirement. You plan on retiring in 31 years. To support your
Studentka2010 [4]

Answer:

$10,883

Explanation:

n = 31 years

Future value (FV) = 1,980,000 (The amount you need in 31 years for retirement)

i/r = 10% (given)

Present value (PV) = 0 (You have just started your job and have not reserved any amounts for retirement)

PMT (Monthly deposit needed) = ?

By using financial calculator, PMT = $10,883

4 0
2 years ago
There are three rooms. The first one is filled with very important papers. The second one is filled with money. The third one is
Kryger [21]
All of them at the same time? This is hard.... 0.0
8 0
3 years ago
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Marvin, the vice president of Lavender, Inc., exercises a stock option to purchase 100 shares of stock in March 2020. The stock
Naily [24]

Answer:

None of the answer is correct.

Explanation:

When Marvin purchase stock in March 2020 at a price of $28. The exercise price for the stock is $20. When Marvin will sell the stock at the exercise price he will gain on the sale of the stock. AMT is the difference or spread between the stock exercise price and its underlying fair market value.

7 0
3 years ago
On december 31, planet company acquired 80% of the voting common stock of star company by issuing 100,000 shares of its own comm
zavuch27 [327]

Answer:

Building with fair value of $150,000

Explanation :

In the consolidation work paper elimination, we eliminate the Equity or Net Identifiable assets that exist in Star Company at the Acquisition Date.

The Building with fair value of $150,000 was the only balance sheet item existing thus this is ultimately the Net Identifiable Assets that would be eliminated.

6 0
3 years ago
1. Which of the following accounts are NOT likely appear in a job order cost system of a service business
Burka [1]

A <u>finished Goods</u> account would most likely not appear in a job order cost system of a service business.

Finished Goods are products that are at a stage in the manufacturing process that is readily available to consumers. Businesses use formulas to calculate finished goods and products to create inventory percentages that determine the value of the goods sold.

The cost of the finished product includes all costs along the way and includes the three main components used in the production of the goods: direct labor, direct materials, and overhead costs. In addition, storage costs will be incurred when purchasing finished products.

Learn more about  <u>finished Goods </u>here brainly.com/question/13767214

#SPJ4

8 0
2 years ago
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