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Mekhanik [1.2K]
3 years ago
5

An adjusting entry for accrued expenses involves: (Select all that apply.) debit to an expense credit to an expense credit to a

liability debit to a liability debit to an asset credit to a revenue\
Business
1 answer:
Aloiza [94]3 years ago
8 0

Answer:

Explanation:

The journal entry to record the accrued expense is shown below:

Example:

Wages expenses A/c Dr XXXXX

         To wages payable A/c XXXXX

(Being the accrued expenses is recorded)

While recording the wages expenses, we debited the accrued expenses as it increases the expenses account and credited the wages payable account as the liabilities account is also increased

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Leslie has developed a new kind of running shoe, and now she is trying to decide where to sell it. Which of the 4Ps of marketing
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Joseph purchased 100 shares of abcd growth fund for $10.00 per share for a total investment of $1,000. at the end of one year, h
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It is given that Joseph purchased 100 shares of ABCD Growth Fund for a price of $10.00 per share with a total investment of $1,000. At the end of the year he sold his investment for $11.20 per share. Find the total capital gain.

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7 0
3 years ago
In 2010, Norbert Incorporated bought a new tooling machine for $45,000. Norbert estimated that the machine had a useful life of
Norma-Jean [14]

Answer:

Norbert should record at 2020 depreciation expense of $2,700 for the machine

Explanation:

The depreciable base can be calculated as follows;

depreciable base=acquisition cost-salvage value

where;

acquisition cost=$45,000

salvage value=$0

replacing;

depreciable base=45,000-0=$45,000

Annual depreciation expense=depreciable base/useful life

annual depreciation expense=45,000/15=$3,000

accumulated depreciation after 10 years=3,000×10=$30,000

New net book value=acquisition cost-accumulated depreciation+overhaul cost

New machine value=(45,000-30,000+12,000)=$27,000

New depreciation base=new machine value-salvage value

where;

new machine value=$27,000

salvage value=$0

replacing;

New depreciation base=27,000-0=$27,000

New Annual depreciation expense=new depreciation base/useful life

where;

new depreciation base=$27,000

useful life=5+5=10 years

replacing;

New Annual depreciation expense=27,000/10=$2,700

Norbert should record at 2020 depreciation expense of $2,700 for the machine

3 0
3 years ago
Suppose two​ countries, Country A and Country​ B, have a similar real GDP per capita. Country A has an average economic growth r
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Answer:

D

Explanation:

Many studies have found a positive correlation between economic growth and living standards. This means that empirical works have found that countries with higher economic growth, often have better living standards than the countries with less economic growth. In this case if real GDP per capita of both countries is similar, then they are comparable.

We can deduce that the country B will experience an increase in living standards much more rapidly in the long run because economic growth leads to an increase in profits for firms, there would be a better capital and labor return. This means that firms will pay more for capital and labor, if households are de owners of capital and labor, their rents and wages will increase. The disposable income will increase for households and they will consume more goods and services, then their living standards will increase.

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