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
Lisa [10]
3 years ago
15

Pablo management has ten part-time employees, each of whom earns $145 per day. they are normally paid on fridays for work comple

ted monday through friday of the same week. assume that december 28, 2016, was a friday, and that they were paid in full on that day. the next week, the ten employees worked only four days because new year's day was an unpaid holiday. prepare the adjusting entry that would be recorded on monday, december 31, 2016 and friday, january 4, 2017.

Business
1 answer:
kvv77 [185]3 years ago
4 0

Explanation:

December 31, 2016: To record accrued wages for one day (10 workers × $145) = $1,450.

January 4, 2017: To record accrued and current wages.

Wages expense = 10 workers × 3 days × $145 = $4,350

Cash = 10 workers × 4 days × $145 = $5,800.

See attached photo.

You might be interested in
Stone Co. began operations in year 3 and reported $225,000 in income before income taxes for the year. Stone's year 3 tax deprec
Lubov Fominskaja [6]

Answer:

Given:

Income before income taxes = $225,000

Book depreciation = $25,000

Nondeductible book expenses = $10,000

Tax rate = 40%

Enacted rate = 35%

Deferred income tax liability is computed as:

Deferred income tax liability = Book depreciation × Enacted rate

= $25,000 × 35%

= $8,750

3 0
3 years ago
What is the term given to mortgage loan costs such as pest inspections, survey fees, and title insurance?
vichka [17]

Answer:

Services the borrower did shop for, that the buyer may find on his own.

Explanation:

Services such as a pest inspection or title insurance are services that the buyer of a house usually want, but are not mandatory for them to purchase. Therefore usually buyers must search for them on their own since they are not required by a bank.

They are different than services that a lender requires like home insurance, which a buyer must purchase.

3 0
3 years ago
On November 1, Wright Co. borrowed $20,000 cash from Third Bank by signing a 90-day, 6% interest-bearing note.
Andrews [41]

On January 30, the due date of the note, Wright will record the payment with a debit to Interest Expense in the amount of $100.

Explanation:

  • On November 1, Wright Co. borrowed $20,000 cash from the Third Bank by signing a 90-day, and 6% of interest-bearing note.
  • On December 31, it was recorded an adjusting entry to interest expense of $200.
  • On January 30, which is the due date of the note, Wright will record the payment with a debit to Interest Expense in the amount of $100.
  • Interest expense is an expense which is known as a non-operating expense which is shown on the income statement. It also represents interest payable amount when it is borrowed. For Example,
  • bonds,convertible debt, loans or lines of credit
  • The main difference between the interest expense and the interest paid is that the discount amount and this difference changes the net amount of bond liability.
  • Interest expense is an amount determined by the interest rate on an account.

4 0
3 years ago
An assembly line is an example of which type of Labor strategy
spin [16.1K]
An assembly line is an example of mass production
7 0
3 years ago
Read 2 more answers
A salesperson at a jewelry store earns ​6% commission each week. Last​ week, Heidi sold $750 worth of jewelry. How much did she
sertanlavr [38]
Luhhxlxlfflydkydkditsktdgkxkxk
6 0
2 years ago
Other questions:
  • Which language is the most common for worldwide trade and business?
    15·2 answers
  • dupe's age and olu's add upto 25 years. Eight years ago , dupe was twice as old as olu. how old are they now?​
    6·1 answer
  • Please help me!! What is a good?
    14·2 answers
  • To protect certain fledgling industries, the government of country Z banned imports of the types of products those industries we
    14·2 answers
  • If we accept "consumer satisfaction" as the objective of our macro-marketing system, this means that: consumer educators should
    12·1 answer
  • Wes Motors has total assets of $98,300, net working capital of $11,300, owners' equity of $41,600, and long-term debt of $38,600
    14·1 answer
  • The City of Grand Marais' fiscal year ends on June 30. Grand Marais uses encumbrance accounting. On May 6, a purchase order was
    6·1 answer
  • 3. The speaker implies that kids are, on average, more imaginative than adults. Do you
    5·1 answer
  • The beginning inventory was 300 units at a cost of $10 per unit. Goods available for sale during the year were 1,300 units at a
    14·1 answer
  • What is the coordinating mechanism in a market system?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!