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
Ket [755]
3 years ago
9

McNeil Company owed its employees for services performed and recorded a liability for the wages owed the employees. Which of the

following correctly describes the impact on the financial statements when the employee wages are subsequently paid?
A) Operating expenses are increased.
B) Retained earnings decreases.
C) Operating income does not change.
D) Total assets remain the same.
Business
1 answer:
Tamiku [17]3 years ago
7 0

Answer:

A) Operating expenses are increased

Explanation:

when the wages are subsequently paid, the liability account is not affected as well as the cash account, retained earnings is not affected and also the operating income is not affected.

Therefore, The operating expenses have to increase as the wages count towards operating expenses.

You might be interested in
Data was collected on salaries of compliance specialists in corporate accounting firms. The salaries ranged from
kondaur [170]

Based on the collected data on salaries of compliance specialists in corporate accounting firms. The salaries ranged from 69,000 to 369,000.

<h3>How much can one make as Compliance Specialist?</h3>

As a Compliance Specialist salary, the amount that can be made varies from country to another, but in U.S it us possible to make $60,491 per year, or $29.08 per hour.

Learn more about Compliance Specialist salary,  at:

brainly.com/question/15414254

6 0
3 years ago
Sheffield Corp. traded machinery with a book value of $978480 and a fair value of $906000. It received in exchange from Ivanhoe
Lemur [1.5K]

Answer:

Gain $72,480

Explanation:

Calculation for the amount of gain or loss that Sheffield should recognize on the exchange

Using this formula

Gain/Loss= Book value – Fair value

Let plug in the formula

Gain/Loss= $978,480 – $906,000

Gain=$72,480

Therefore the amount of gain or loss that Sheffield should recognize on the exchange will be $72,480

3 0
3 years ago
A retail store has three departments, S, T, and U, and does general advertising that benefits all departments. Advertising expen
Andrew [12]

Answer: $22,500

Explanation:

First calculate the rate of allocation based on sales to determine how much of Department T's sales should be attributed to Advertising.

The Rate of Allocation based on Sales = Advertising Expense/Total sales

= 50,000/475,000

= 0.105263

= 10.5263%

This 10.5% can then be used to find out how much of Advertising to apportion to Department T based on department sales,

= Department sales * Allocation rate

= 213,750 * 10.5263%

= $22,500

$22,500 should be allocated to Department T.

8 0
4 years ago
A district sales manager conducts a quarterly business meeting in which she talks about ways of increasing sales in key markets
alexira [117]

Answer:

b. problem-solution

Explanation:

Based on the information provided within the question it can be said that the organizational pattern that the speaker is using is a problem-solution pattern. This pattern focuses on stating a problem and providing solutions to solve that problem. Which is what the speaker is doing by indirectly stating that sales are low in the key markets and then proceeds to talk about ways of increasing sales in those areas.

8 0
4 years ago
12. One of the benefits of developing a business plan for a new start-up is:
wlad13 [49]

Answer:

it assists in organising the resources needed for the new business​

Explanation:

A business plan details the mission and objectives of an entity. It explains the nature of business the entity will engage in, the target market, the resources it requires, and the projected revenues and expenses.

A business plan is useful when soliciting resources. Although a business plan does not guarantee a hundred percent financing, It shows how much resources will be required and how they shall be used. This helps the founders to know what is required at what stage and make the necessary arrangements.

5 0
3 years ago
Other questions:
  • One difference between B2C and B2B e-commerce is that the: a. B2B transaction involves little or no negotiation. b. B2C transact
    10·1 answer
  • Which type of investment typically charges the investor the lowest fees
    6·1 answer
  • Antiperspirant deodorants were introduced to the market in 1941. The market for antiperspirant deodorants is currently character
    15·1 answer
  • Investments are different from savings accounts in that they A. Offer high profit potential B. Are FDIC-insured C. Guarantee to
    8·1 answer
  • Can someone please help me???
    10·2 answers
  • At the beginning of 2016, robotics inc. acquired a manufacturing facility for $12 million. $9 million of the purchase price was
    14·1 answer
  • The organizational-management process consists of seven steps: (1) doing research, (2) establishing the mission and vision, (3)
    5·1 answer
  • Why do many people avoid the topics of taxes more than other areas of personal financial planning?
    6·1 answer
  • Bing Corporation acquired two inventory items at a lump-sum cost of $120,000. The acquisition included 3,000 units of product LF
    15·1 answer
  • The federal reserve engages in another round of quantitative easing. what are the effects of this policy on the economy?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!