Answer: a. Liabilities increased by $1.0 million in 2018
Explanation:
In 2018, $9 million was used to settle the wage debt of 2017 and the remainder was used to settle the wages in 2018.
The money remaining in cash after the wage settlement was:
= 9,000,000 - 2,000,000 - 8,000,000
= -$1,000,000
This means that $1,000,000 of wages was not settled in 2018 which means that this would have to go to the Wages Payable account to signify that the company owes wages.
This account is a liability account so liabilities in 2018 would increase by $1,000,000.
Answer and Explanation:
The Journal entry is shown below:-
March 17
Stock Dividend Dr, $84,750 (113,000 × 5% × $15)
To Common Stock Dividend Distributable $56,500 (113000 × 5% × $10)
To Paid in capital in excess of Par - Common Stock $28,250
(Being stock dividend is recorded)
Here we debited the stock dividend and we credited the Common Stock Dividend Distributable and Paid in capital in excess of Par - Common Stock
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Answer:
c. 60 on the sales floor, 24 on the register.
Explanation:
Given that
The total number of employees to manage is 84
and w assume that the no of employees on the sales floor after having division be x
also the given condition is that there should be minimum of 2 employees for every 5 employees that worked on the sales floor
So that means
x ÷84 = 5 ÷ (5 + 2)
after solving this x = 60
So the no of employees on register is
= 84 - 60
= 24
Answer:
The opportunity cost of the event $21.
Explanation:
Opportunity cost is the loss of alternative when someone chooses an alternative.
Number of Hours = 3 hours
Earning per hour = $7
Total opportunity cost = $7 x 3
Total opportunity cost = $21
As Max has to bear the loss of $21 earning when he goes to the event in the museum. So this is his opportunity cost.
