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
Taya2010 [7]
3 years ago
10

The adjusting entry to record an accrued expense includes a debit to: a. an expense account and a credit to a liability account.

b. an expense account and a credit to a revenue account. c. a liability account and a credit to a revenue account. d. a liability account and a credit to an expense account.
Business
1 answer:
kykrilka [37]3 years ago
6 0

Answer: The correct answer is a. Debit to an expense account and a credit to a liability account.

Explanation: An accrued expense is an expense incurred but yet to be paid for. For instance a consultancy service.

To record this transaction, a debit to the expense account will be recorded to increase expenses and a credit to liability account to increase what is owed.

You might be interested in
Challenge TasksThree weeks ago, Mike McGee left to join a larger company, and management decided to reorganize the IT department
Naddika [18.5K]
Egged gig for the next month or something
6 0
3 years ago
​Zane's Vanes is a service that restores old weather vanes. Zane has just spent​ $125 purchasing a​ 1920s-era weather vane which
VladimirAG [237]

Answer:

The marginal benefit from selling the vane without restoring it is $200.

Explanation:

Marginal benefits are the extra income a company can get from selling one additional unit of production.

Zane had already spent $250 in purchasing the vane and the restoration process.

Zane has two options:

  1. Sell the vane as it is for $200.
  2. Keep restoring the vane, spend $200 more and sell the vane for $500.

If Zane decides to sell the vane as it is, his marginal benefit will be $200. That would not be enough to cover his costs, this transaction will result in a $50 loss.

If Zane decides to continue the restoration, then his marginal costs will be $200 extra, but his marginal benefit would be $500. If he chose this option he could end up earning a $50 profit.

8 0
3 years ago
How would one establish a petty cash fund for $500?
Sindrei [870]

Answer:

Explanation:

It's B

7 0
2 years ago
Vasco Company purchased equipment on January 1, 2001 at a purchase price of $50,000. Vasco paid $2,500 in shipping costs on the
Lynna [10]

Answer:

The amount of depreciation expense is $3,871.86.

Explanation:

Sum-of-the-years digits method is determined by: (Remaining useful life/Sum of the years' digits) x Depreciable cost.

Depreciable cost = Cost - Salvage value

Depreciable cost = $50,000 + $2,500 - $5,000 = $47,500

Insurance premium is usually for a period of 1 year. This will be treated as prepayment instead of being added to the cost of the equipment. Shipping cost is added based on the recommendation of IAS 16 Property, Plant and Equipment.

Depreciation expense = 6/21 x $47,500 = $13,571.43 for Year 2001

Depreciation expense = 5/21 x $47,500 = $11,309.52 for Year 2002

As at December 2002, the accumulated depreciation will be $13,571.43 + $11,309.52 = $24,880.95; so, net book value is $52,500 - $24,880.95 = $27,619.05.

Change in estimate: 8/55 x $27,619.05 - $1,000 = $3,871.86.

55 = 10+9+8+7+6+5+4+3+2+1

7 0
3 years ago
Today, you have two coins each of which is valued at $100. One coin is expected to appreciate by 5.2 percent annually while the
ziro4ka [17]

Answer:

=$337.43

Explanation:

The value of each of the coins after 50 years is the future value after 50 years at their respective interest rate.

The formula for  future value is FV = PV × (1+r)n

For the first coin at 5.2 percent,

Fv = 100 x ( 1 + 5.2/100 ) 50

Fv =100 x (1+ 0.052) 50

Fv = 100 x 12. 61208795

Fv = $1,261. 21

For the second coin at 5.7 percent,

Fv = 100 x (1 + 5.7 /100)50

Fv =100 x (1 + 0.057 )50

Fv = 100 x 15.98

Fv = 1, 598. 64

the difference in value will be

=$1598.64 - $1,261.21

=$337.43

6 0
4 years ago
Other questions:
  • Which of the following statements is true of labor cost flows associated with a job-order costing? a.They reflect only indirect
    15·1 answer
  • Theresa works in a manufacturing plant where many of the male employees put up photographs of bikini-clad women in their work ar
    13·2 answers
  • bob katz and sally mander are a married couple with four children. total wages for 2018 equaled $102,400. stock which had been p
    15·1 answer
  • Roth Service Co. experienced the following transactions for 2018, its first year of operations: Provided $80,000 of services on
    10·1 answer
  • Last week, the Citizens for a Greener America sent a formal letter to Tee Time Golf Resort requesting that the private club meas
    5·1 answer
  • Kit Company borrows $5 million at 12% on January 1, 2016, specifically for the purpose of financing the construction of a buildi
    6·1 answer
  • A state highway was constructed over a wetland ecosystem. The state received a permit to fill in the existing wetlands in accord
    9·1 answer
  • Your company had the following transactions during the month of September:Received $500,000 in Cash from investors in exchange f
    13·1 answer
  • Define the term Agriculture​
    8·2 answers
  • How to calculate a trial balance​
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!