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
lina2011 [118]
3 years ago
15

A business pays weekly salaries of $30,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at th

e end of the fiscal period ending on a Thursday is
A business pays weekly salaries of $30,000 on Frid


debit Salaries and Wages Expense, $24,000; credit Salaries and Wages Payable, $24,000.


debit Salaries and Wages Expense, $6,000; credit Salaries and Wages Payable, $6,000.


debit Salaries and Wages Payable, $24,000; credit Cash, $24,000.


debit Salaries and Wages Expense, $24,000; credit Cash, $24,000
Business
1 answer:
algol [13]3 years ago
3 0

Answer:

debit Salaries and Wages Expense, $24,000; credit Salaries and Wages Payable, $24,000.

Explanation:

The journal entry is shown below:

Salaries and Wages Expense A/c Dr $24,000

   To Salaries and Wages Payable $24,000

(Being salary and wages is adjusted)

The computation is shown below:

Five day salary = $30,000

Per day salary = $30,000 ÷ 5 days = $6,000

Now Monday to Thursday salary i.e 4 days salary = $6,000 × 4 days = $24,000

You might be interested in
The elements of the business environment include the:.
quester [9]

Answer:technological environment, economic and legal environment, competitive environment

Explanation:

5 0
3 years ago
he Acmeville Metropolitan Bus Service currently charges $0.99 for an all-day ticket, and has an average of 433 riders a day. The
DedPeter [7]

Answer:

2.77

the bus company should  decrease price to increase revenues.

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.

percentage change in price = 1.21 / 0.99 - 1 = 0.222 = 22%

Percentage change in quantity demanded = 169 / 433 = -0.6097 = - 60.97%

Elasticity of demand = 60.97% /  22% = 2.77

Demand is elastic, so if price in reduced, there would be a rise in quantity demanded that would exceed the rise in price. This would increase revenues

3 0
3 years ago
The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of $30,000, plus a bonus
Pavel [41]

Answer:

The correct answer is C: Bonus= $24000

Explanation:

The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of $30,000, plus a bonus of 20 percent of income after deduction of the salary allowance.

The formula to calculate the bonus is:

Bonus=0,20*(Income-salary)

If income is $150000

Bonus= 0,20*(150000-30000)=$24000

8 0
3 years ago
Which of the following statements is true about work hour
Fittoniya [83]
I think A if not than B I’m sorry if I’m incorrect
6 0
3 years ago
These were kane's only temporary differences. in kane's 2021 income statement, the deferred portion of its provision for income
fomenos

These were Kane's best brief variations. in Kane's 2021 income statement, the deferred portion of its provision for earnings taxes must be $a hundred thirty-five,600.

An income tax is an instantaneous tax that a central authority levy on the income of its residents. The earnings Tax Act, 1961, mandates that the significant government acquire this tax. The authorities can change the income slabs and tax charges every year in its Union finances. income does now not best imply cash earned in the form of earnings.

Any Indian citizen elderly beneath 60 years is prone to pay earnings tax if their earnings exceed 2.5 lakhs. If the person is above 60 years of age and earns greater than Rs. three lakhs, they'll pay taxes to the authorities of India.

Income taxes are a source of revenue for governments. they're used to fund public services, pay authorities' responsibilities, and provide goods for residents.

Learn more about Income taxes here:

brainly.com/question/26316390

#SPJ4

5 0
1 year ago
Other questions:
  • A(n)______________________ aligns strategic goals, operations effectiveness, reporting, and compliance objectives. a. operationa
    5·2 answers
  • Can anyone PLZZZ HELP me with all that plzzz. For 10 POINTS PLZZZ. :(((((
    11·2 answers
  • This allows individuals to own their creativity and innovation in a way similar to owning physical property.
    7·1 answer
  • If the total for this month's credit purchases is $550 at 24% annual interest, what is the total balance for the month after one
    13·2 answers
  • The Kelsh Company has two divisions--North and South. The divisions have the following revenues and expenses:
    12·1 answer
  • In the labor market, the supply curve represents A) the workers and the demand curve represents the product of the labor. B) the
    5·1 answer
  • SWOT analysis is a framework for analyzing the internal and external environment of a company. It consists of strengths, weaknes
    15·1 answer
  • ​Land, a building and equipment are acquired for a lump sum of . The market values of the​ land, building and equipment are ​, a
    10·1 answer
  • Starting a new business as a sole proprietorship
    14·1 answer
  • Record the information you found for steps 2 and 3 here. Make sure you discuss how the company got money to start the business,
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!