Answer and Explanation:
The adjusting entry made on Tuesday is as follows
Salaries expense Dr $120 ($300 × 2 days ÷ 5 days)
To Salaries payable $120
(Being the salaries expense is recorded)
here the salaries expense is debited as it increased the expenses and salaries payable is credited as it also increased the liabilities.
Answer:Money serves several functions: a medium of exchange, a unit of account, a store of value, and a standard of deferred payment.
Explanation:
Answer: D Fiscal Policies
Fiscal policies refer the adjustments made by the government to tax policies and government spending in order influence the level of economic activity in a country.
The main aim of a fiscal policy is to stabilize the economy while trying to avoid the impact of excessive growth and recessions.
In the question, the government passed a bill that authorized spending on infrastructure, healthcare etc. This was done in order to increase employment and ultimately increase aggregate demand. Hence this is a fiscal policy.
Answer:
D) No impact on the accounting equation.
Explanation:
- Nothing would happen since the amount to be received would remain the same i-e $20,000, so there is no chance for increase in liabilities. Moreover, the there is no new services so that asset should be impacted.
- What there has been done is just classifying the payment which the Delta thought that they would receive earlier, but now it is being realized that it will take long, so just to not make any mistake or confusion for future this was done.
Answer:
implied
Explanation:
Warranty is an assurance that a product will do the work for which it was intended and be of the same quality and grade like others of its class received by a buyer of a product from the seller whether expressly stated or not . This follows that where the product is discovered to be substandard or defective, the seller will either repair or replace the product in line with the terms and conditions of sales.
Implied Warranty is a quality assurance statement given by a buyer to a seller that is neither oral nor written but generally understood by law to be associated with products and services of that industry
