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sergiy2304 [10]
4 years ago
11

Eagle Company reported Salaries and Wages Payable of $1,500 at the beginning of the year and $5,000 at the end of the year. The

income statement for the year reported Salaries and Wages Expense of $112,400. How much cash was paid for salaries and wages during the year?
Business
1 answer:
sergejj [24]4 years ago
7 0

<u>Given:</u>

Wages payable at the beginning of the year = $1500

Wages payable at the end of the year = $5000

Salaries and wages expense as per the income statement = $112400

<u>To find:</u>

Cash paid for salaries and wages

<u>Solution:</u>

The calculation of the cash paid for salaries and wages is as follows,

Wages payable at the end of the year-Wages payable at the beginning of the year = \$5000-\$1500=\$3500

Cash paid = \$112400-\$3500=\$1,08,900

Therefore, the cash paid for salaries and wages during the year is $1,08,900.

Wages and salaries are paid by the organization or management to the workers or the employees in return for the work done by them for the company.

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SYBIL transfers property with a tax basis of $5,000 and a fair market value of $6,000 to a corporation in exchange for stock wit
Vikki [24]

Answer:

D. $3,000

Explanation:

The shareholder's tax basis =

SYBIL tax basis in the property transferred + gain recognized - cash received of $2,000 - the liability assumed by the corporation.

$5,000 + $1,000 - $2000 - $1,000 = $3,000.

If Sybil sells the stock for $3,000, no gain or loss will be recognized, an amount equal to the gain deferred of $0.

6 0
4 years ago
Hawk Corporation purchased 10,000 Diamond Corporation bonds in 2015 for $61 per bond and classified the investment as securities
Pavel [41]

Answer:

Explanation:

In this question ,we take the difference of the per bond value based on the year. The computation is shown below:

During 2015 to During 2017:

= Number of bonds purchased × (December 31, 2017 value - 2015 value)

= 10,000 × ($92 - $61)

= 10,000 × $31

= $310,000

During 2018:

= Number of bonds purchased × (December 31, 2018 value - 2017 value)

= 10,000 × ($146- $92)

= 10,000 × $54

= $540,000

So, the total amount would be

= $310,000 + $540,000

= $850,000

This amount which reflect in the income statement as a realized gain

6 0
3 years ago
Advertising, engineering, marketing, product design, and web design are all examples ____ of work.
Viktor [21]

Knowledge work includes, among other things, engineering, marketing, product design, and web design.

<h3>What distinguishes service work from manufacturing labor?</h3>

A service economy is built on knowledge-intensive industries and services in economic production, well-educated employees in the occupational market, and innovative enterprises in business. A manufacturing economy is driven by the mass production of products.

<h3>What are the names of networks of businesses that produce product designers, engineers, manufacturing firms, distribution channels, and consumer outlets?</h3>

A supply chain in business is a network of establishments that acquire raw materials, transform them into intermediate goods, and then distribute finished goods to customers.

To know more about marketing visit:-

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4 0
1 year ago
Phillip​ Witt, president of Witt Input​ Devices, wishes to create a portfolio of local suppliers for his new line of keyboards.
kirill115 [55]

Answer:

Based on the EMV value, the best choice is to use Two suppliers

Explanation:

Is necessary to consider different amount of suppliers and evaluate the cost. We will choose the number of suppliers which offers a lower cost.

  • EMV1 = cost of shutdown*super event risk + cost of shutdown*unique event risk + cost of managing supplier = 480000*.02 + 480000*0.05+16000 = 9600 + 24000 + 16000 = $ 49600

  • EMV2 = cost of shutdown*super event risk + cost of shutdown*unique event risk of each supplier*unique event risk of each supplier + cost of managing 2 suppliers = 480000*.02 + 480000*0.05*.05+16000*2 = 9600 + 1200 + 16000*2 = $ 42800

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Based on the EMV value, the best choice is to use Two suppliers

6 0
3 years ago
Classroom management is largely unaffected by the characteristics of the students making up the class.A. TrueB. False
ivanzaharov [21]

Answer:

B: False

Explanation:

Classroom is the place where different types of students come together and get education together. Each and every student is different in him or herself. When it comes to the management of classroom, definitely, its environment is defined and made by its students. It is seen that there are some classrooms which are easy to handle, manage and look after, moreover, they are very interactive as well. Logic and reason behind them is the type of students they are made up of. Students, surely defined the culture of that class, which could be very decent culture, making very less noise, obedient culture etc. Therefore, Classroom management is largely unaffected by the characteristics of the students making up the class is a False Statement.

3 0
4 years ago
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