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cluponka [151]
3 years ago
11

Problem Page Watson Company's employees earn $290 per day and are paid on Friday for a five-day work week. This year, December 3

1 is a Thursday. If the appropriate adjusting entry is not made at the end of the year, what will be the effect on: (a) Income statement accounts (overstated, understated, or no effect)? (b) Net income (overstated, understated, or no effect)? (c) Balance sheet accounts (overstated, understated, or no effect)?
Business
1 answer:
vredina [299]3 years ago
5 0

Answer:

<u>inocme statment:</u>

wages expense: understate

<u>net income</u> overstate

<u>blanace sheet</u>

wages payable: understate

Retained Earnings: overstate

Explanation:

If the adjusting entry is not made, then the expenses will be lower than it should.

Thereofre the net income will be overstate as there are more expenses but weren't recorded.

the balance sheet will not represent accurate the liabilities as there is wages payable which are not recorded.

also, in the blaance sheet the Retained Earnings account will be overstate as it include the net income which is overstate.

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Hank is a U.S. citizen and is doing a three to six-year assignment as a sales executive in Paris for a French company, which beg
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Answer:

The answer is: E) None of his salary can be excluded from gross income because Hank must reside overseas for the entire year

Explanation:

According to the IRS's Foreign Earned Income Exclusion (and Requirements) a US citizen can claim up to $105,900 (in 2019) of his gross income to be excluded from gross income in the US only if that person resided in the foreign country for at least 330 days in the last year.

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3 years ago
6. The recommended approach for strategy formulation by a leader is for him or her to: Group of answer choices B. inspire a larg
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Answer:

B. inspire a large number of people to help achieve organizational purposes.

Explanation:

Business strategy sets the overall direction for the business; it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.

The recommended approach for strategy formulation by a leader is for him or her to inspire a large number of people to help achieve organizational purposes.

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3 years ago
In 2016, the city of Vancouver collected $500,000 in taxes and spent $450,000. In 2016, the city of Vancouver had a
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2 years ago
Market-skimming prices make sense under the following conditions EXCEPT if ________. a. there is a sufficient number of buyers w
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Answer:

c.

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3 0
3 years ago
Suppose that hiring a third worker at the campus coffee shop increases output from $135 per hour to $190 per hour. What is the m
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Based on the information given the marginal product of labor per hour from adding that third worker is $55 per hour.

Using this formula

Marginal product of labor per hour  

=Change in sales/ Change in number of workers

Where:

Change in sales=($190 per hour-$135 per hour)

Change in number of workers=1

Let plug in the formula

Marginal product of labor=($190-$135)/1

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Marginal product of labor =$55 per hour

Inconclusion the marginal product of labor per hour from adding that third worker is $55 per hour.

Learn more here:brainly.com/question/24296663

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2 years ago
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