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
mamaluj [8]
3 years ago
13

Johnny’s Drive-in pays its employees bi-weekly. The first payday of 2014 will be on January 3 and will compensate employees for

work done from December 18-31, 2013. Because the employee work was performed in 2013, the wages expense should be recorded in 2013.Record the Transaction:What adjusting entry will need to be made? Total compensation to be paid for the 2 week period is $100,000.ACCOUNTSWAGES EXPENSECASHWAGES PAYABLEACCOUNTS PAYABLEAMOUNTS$100,000$100,000$110,000$110,000
Business
1 answer:
Sonbull [250]3 years ago
5 0

Answer:

Accounts

Wages Expense

Wages Payable

$100,000

$100,000

Explanation:

As the expense is accrued but not paid at the end of 2013. The transaction requires an adjusting entry. This will charge a wages expense and create the wages payable liability. Ultimately on January 3 it will be paid. Wages for the two weeks are $100,000 and the 14 days has been passed for the pay period until year end of 2013.

You might be interested in
You are having a lot of trouble in your Math class and would like to get help with a tutor. What resource would you utilize?
laila [671]

Answer:

The correct answer is smarthinking.

Explanation:

When we talk about intelligent thinking we can think that it is the same as intelligence, but in reality, it is not ... Intelligence we all have, but intelligent thinking is not an innate quality, but rather a quality that must be cultivated.

According to Art Markman, “intelligence is a tool, among many, that our brain has that, thanks to the use of the knowledge that we acquire throughout life, helps us solve our problems in a creative and more efficient way "

8 0
3 years ago
Two methods of estimating uncollectible receivables are? ________.
miskamm [114]
The answer is an aging-of-accounts-receivable method and the percent-of-sales method. More often than not, when a credit alteration is gone into the Allowance account, a relating charge sum is gone into Bad Debts Expense. The maturing technique happens by sorting an organization's records receivable as per the dates of these unpaid solicitations.
4 0
3 years ago
The following cost data pertain to the operations of Star Wars Department Stores, Inc., for the month of September. Corporate he
Pavlova-9 [17]

Answer: $41,960‬

Explanation:

The direct costs for the Cosmetics department will be those ones that are directly related to the sales of cosmetics and the running of the department and the cost of selling the units.

Direct Costs = Cosmetics Department sales commissions--Stardust Store + Cosmetics Department cost of sales--Stardust Store + Cosmetics Department manager's salary--Stardust Store

= 5,300 + 32,400 + 4,260

= $41,960‬

8 0
3 years ago
Which commercial lodging type is located on or near u.s. installations, is operated by a commercial lodging company, and is corp
Volgvan
<span>Which commercial lodging type is located on or near U.S. installations, is operated by a commercial lodging company, and is corporately branded? DoD Privatized Lodging. DoD stands for Department of Defense. This type of lodging is found near or on U.S. military installations and used for government travel.  </span>
6 0
3 years ago
Praxis Corp. is expected to generate a free cash flow (FCF) of $7,360.00 million this year (FCF₁ = $7,360.00 million), and the F
STatiana [176]

Answer:

$202,216.54 million

Explanation:

FCF₁ = $7,360 million

FCF₂ = $8,846.72 million

FCF₃ = $10,633.76 million

FCF₄ = $10,910.24 million and will continue to grow at 2.46%

we must first determine the terminal value at year 3:

terminal value = $10,910.24 million / (7.38% - 2.46%) = $221,752.85 million

firm's current total value = $7,360 million / 1.0738 + $8,846.72 million / 1.0738² + $10,633.76 million / 1.0738³ + $221,752.85 / 1.0738³ = $6,854.16 + $7,672.48 + $8,588.49 + $179,101.41 = $202,216.54

7 0
4 years ago
Other questions:
  • An investment of $115 generates after-tax cash flows of $50 in Year 1, $90 in Year 2, and $150 in Year 3. The required rate of r
    9·1 answer
  • A law firm seeks to recruit top quality experienced lawyers. the total package offered is the sum of three separate components:
    5·1 answer
  • Marginal utility is defined as the A. change in total utility a person derives from the consumption of a good divided by the cha
    7·1 answer
  • The head of ABC Company announces that the companyis going to start a weekend projectteaching self-defense techniques to underpr
    6·1 answer
  • Which of the following is an example of structural unemployment? A. Dora lost her job when the textile mill closed. She does not
    14·1 answer
  • Pat gave 5,000 shares of stock in Coyote Corporation (a publicly traded corporation) to her church (a qualified charitable organ
    8·1 answer
  • If an economy moves from a steady state with positive population growth to a zero population growth rate, then in the new steady
    5·2 answers
  • A governmental audit may extend beyond an examination leading to the expression of an opinion on the fairness of financial state
    9·1 answer
  • What factors under the control of owners and managers make a firm successful and allow it to earn economic​ profits?
    14·1 answer
  • According to Porter's model of business activities, interactions across value activities are called ________.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!