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3 years ago

Which of the following journal entries is recorded correctly and in the standard format?

Business

1 answer:

Zanzabum3 years ago

3 0

Answer:

D. Salaries and Wages Expense 530

Advertising Expense 910

Cash 1440

Explanation:

Salaries and wages expense, and advertising expense, are expenses, therefore, when they increase, they are debited.

Cash is an asset account, when it decreases, as in this case, it is debited.

The entry would be:

Account Debit Credit

Salaries and Wages Expense 530

Advertising expense 910

Cash 1440

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The sec generally defers to the fasb concerning controversial disclosure and reporting issues.

xxMikexx [17]

This assertion is true. In addition, the SEC has the remaining accountability to make certain that the FASB deals with troubles referred to it by the SEC.

The cooperative effort between the public and personal sectors has given the United States the first-rate economic reporting gadget in the world, and the Commission is intent on making it even better.

<h3 /><h3>Who does the SEC document to?</h3>

19 The SEC is guilty to Congress as it operates beneath the authority of federal legal guidelines inclusive of the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, the Investment Advisers Act of 1940, and the Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley Act), amongst others.

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2 years ago

Current operating income for Bay Area Cycles Co. is $40,000. Selling price per unit is $100, the contribution margin ratio is 20

svlad2 [7]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Operating income= $40,000.

Selling price per unit is $100

Contribution margin ratio= 0.20

Fixed expense is $160,000

<u>First, we need to calculate the unitary variable cost. We can use the contribution margin ratio formula:</u>

<u></u>

contribution margin ratio= (selling price - unitary variable cost) / selling price

0.2 = (100 - unitary variable cost) / 100

unitary variable cost= 80

<u>Now, the contribution margin:</u>

Contribution margin= 100 - 80= $20

<u>Finally, the number of units being sold:</u>

Total contribution margin= operating income + fixed costs

Total contribution margin= 40,000 + 160,000= 200,000

Unitary contribution margin= Total contribution margin/number of units

20= 200,000 / number of units

number of units= 200,000/20

number of units= 10,000 units

6 0

3 years ago

Explain how this external force is currently influencing the internal functional area(s) of the organization. For example, expla

Ede4ka [16]

Influence of External factors in the organisation which ask for the change in the business function:

Explanation:

Big firms like Apple, Intel and other organisations o not work in Vacuum. Due to the changes in various sectors like - economy, market trends, consumer trends, government rules. Every organisation has to change the way of functioning. Below are few scenarios where quick decisions are made due to external changes:

1. Pay Parity : Recently law has been passed bu government where equal pay has to be distributed among male an female employees.

2.Strict Working Hours : No employee should be asked to work for more then 45 hours a week.

3. Maternity leave of 6 months: All organisation to grant 6 months of maternity leaves to the employees.

Above, examples are the decisions which company is following which is inline with the government rules and regulations.

6 0

3 years ago

Please help it’s due today<br><br> It’s business<br><br> About location

Olegator [25]

A car repair service requires an outdoor space for the cars to drive into/be serviced. There is not a large indoor space required due to the fact that staff are mainly outside working on the cars. With an accounting firm, there is a significantly larger number of staff so a large indoor space is required. This an accounting firm requires a location that is larger and closer to the city so it is accessible to all staff. A car repair service can be located somewhere with outdoor space and generally isn’t located in the city

4 0

4 years ago

During June, Busy Beaver bought $5,000 of office supplies on account, and promised to pay the vendor the full amount in July. At

anygoal [31]

Answer:

$3,000.

Explanation:

Existences of supplies from previous month: $0

Bought supplies during June: $5,000

Supplies unused ar the end of June: $2,000

Supplies used during June = Existences of supplies from previous month + Bought supplies during June - Supplies unused ar the end of June

Supplies used during June = $0 + $5,000 - $2,000

Supplies used during June = $3,000

The adjusting entry to record an accrued expense is:

Debit to Supplies expense account (increases of expense)

Credit to Supplies stocks account (decreases of asset)

4 0

4 years ago