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
GrogVix [38]
3 years ago
6

Prior to adjustment at August 31, Salary Expense has a debit balance of $267,550. Salaries owed but not paid as of the same date

total $3,920.
Required: Present the entries to record the following:
(1) Accrued salaries as of August 31
(2) Closing of Salary Expense as of August 31
Refer to the Chart of Accounts for exact wording of account titles.
Business
1 answer:
Sveta_85 [38]3 years ago
6 0

Answer:

1.

Salaries Expense  $3,920 (debit)

Salaries Payable  $3,920 (credit)

2.

Profit and Loss Account $271,470 (debit)

Salaries Expense $271,470 (credit)

Explanation:

1. Recognize an Expense : Salaries Expense and also recognize a liability : Salaries Payable.

2.The Salaries Expense is closed off to the Profit and Loss Account.

You might be interested in
An adequate supply of complements to a product results in: a. more customers opting for the product. b. higher switching costs.
Rama09 [41]

Answer: a. more customers opting for the product

Explanation: It is important for a companies and businesses to ensure that in addition to the product they deal in itself, there is an adequate supply of complements. Complements to a product are products whose use is related to the use of an associated product, as such, its appeal increases with increasing use or popularity of its complement. An adequate supply of complements to a product results in more customers opting for the product.

8 0
3 years ago
Phoenix Guitars is interested in pursuing backward integration to take greater ownership of the extraction of raw materials and
jok3333 [9.3K]

Answer:

Option A

Explanation:

In simple words, Regardless of the expense of making guitars, the technique reduces the total cost of manufacturing a instrument. Phoenix would be in the production business of instruments, not pickups.

The target of this technique is therefore the entire guitar, not really the pickups. The smaller the process of manufacturing their instruments, the better manoeuvrability they have on the market. When they have reduced costs, they may change rates downwards in order to capture further market penetration.

5 0
3 years ago
Sharon is unhappy with her job as a salesperson at a retail store for many reasons. Yesterday a customer asked her where the sha
postnew [5]

Answer:

<u>Customer satisfaction.</u>

Explanation:

Customer satisfaction is an extremely relevant factor for a company as it can directly influence the success or failure of a business.

The whole experience that the customer will have with your company will influence their perception and decision to re-establish relationships with the organization. The company should pay attention to the set of determinants responsible for customer satisfaction, the product must meet their needs, service and service should be cordial and optimized to clarify doubts and assist in the process of purchase and customer loyalty.

So on that issue, an employee like Sharon will negatively impact customer satisfaction, which has not been answered and badly answered. What the organization can do to improve this cycle is to invest in employee training and motivational policies that help increase job satisfaction and thereby increase customer satisfaction.

6 0
3 years ago
Pioneer has developed a new consumer electronics item-a heterogeneous shopping product with unique patented features. it probabl
Feliz [49]
<span>Answer: Pioneer has developed a new consumer electronics item-a heterogeneous shopping product with unique patented features. it probably should use a marketing mix of-Selective distribution, skimming pricing, pioneering.</span>
8 0
3 years ago
When a non-price factor changes--such as technology, expectations, prices of related goods, prices of inputs, or the number of s
ludmilkaskok [199]

Answer:

The answers are:

  1. D) Supply and the entire curve shifts.
  2. D) Quantity supplied and the supply curve does not shift.

Explanation:

1. When non price factors (that affect the supply of a product) change, then the whole supply curve shifts and the quantity supplied will vary.

For example, new machinery that produces goods in a more efficient way, will shift the entire supply curve to the right. Suppliers will be able to produce more goods at the same costs.

2. A change in the amount of goods produced due to a change in price, is a change in the quantity supplied of that product. Suppliers will produce more goods at higher prices. But those changes in the quantity supplied happen follow the supply curve.

5 0
3 years ago
Other questions:
  • Arnell Industries has $35 million in permanent debt outstanding. The firm will pay interest only on this debt. Arnell's marginal
    5·1 answer
  • An investor holds two bonds, one with 5 years until maturity and the other with 20 years until maturity. Which of the following
    9·1 answer
  • 2.1 Assuming that data mining techniques are to be used in the following cases, identify whether the task required is supervised
    8·1 answer
  • When you are shopping for a loan, the __________ is the important rate to compare.
    13·1 answer
  • The following information pertains to the Southern Division of Olson Company: Net Sales $5,250 Variable Costs: Cost of merchandi
    7·1 answer
  • A government was awarded a grant from another government. The $8,000,000 grant is restricted to use for construction of a facili
    7·1 answer
  • What are the sources of information about foreign employment ? Introduce them in brief.​
    12·2 answers
  • I NEED HELP PLZ PLZ PLZ I NEED NOW!!!!!!!!!!!
    14·1 answer
  • Stein Co. issued 15-year bonds two years ago at a coupon rate of 5.4 percent. The bonds make semiannual payments. If these bonds
    15·1 answer
  • Sustainability of an advantage is the ability of a firm to protect its competitive advantage. truw or flase
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!