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IgorC [24]
3 years ago
14

The weekly payroll of Wolverine Corporation is $3,000. Employees work five days per week, Monday through Friday. December 31, 20

19, the end of the fiscal year, is a Tuesday. Wolverine Corporation will not pay its employees for the full week until Friday, its normal payday. Wolverine Corporation will make which of the following adjusting entries on Tuesday, December 31?
a) Accounts:
Salaries Payable : Debit = 1,200
b) Accounts:
Salaries Expenses: Debit = 1,200
Accumulated Salaries: Credit = 1,200
c) Accounts:
Salaries Expense: Debit = 1,200
Cash: Credit = 1,200
d) Accounts:
Salaries Expense: Debit = 1,200
Salaries Payable : Credit = 1,200
Business
1 answer:
ruslelena [56]3 years ago
6 0

Answer:

The answer is: D) Accounts:

                             Salaries Expense: Debit = 1,200

                             Salaries Payable : Credit = 1,200

Explanation:

Salaries expense is a type of expense account (all expense accounts are temporary accounts). When expenses are recorded, they should be debited.

  • Debit record

        Salaries expense 1,200

Salaries payable is a liability account. When liabilities increase, they should be credited.

  • Credit  record

        Salaries payable 1,200

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During the past year, a company reported net income of $230,000. Depreciation expense was $22,000. In December the company recei
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Answer: $259000

Explanation:

Based on the information provided in the question, the amount of cash provided by operating activities that should appear on a statement of cash flows would be:

Net income = $230,000

Add: Depreciation expense = $22,000

Add: Rent = $7000

Total = $259,000

8 0
3 years ago
Suppose a U.S. Treasury bond will pay $2,500 five years from now. If the prevailing interest rate on 5-year Treasury bonds is 4.
Morgarella [4.7K]

Answer:

The value of the bond today is closest to $1648.85

Explanation:

The value of the bond today is closest to:

Present Value = FV / (1+i)^n *m

FV= 2500

I = 4.25 = 0.0425

N= 5

M= 2

The value of the bond today = 2500 / (1+0.0425) ^5*2

The value of the bond today = 2500 / 1.516214468

The value of the bond today = 1648.853256

The value of the bond today = $1648.85

5 0
3 years ago
Croft Corporation produces a single product. Last year, the company had a net operating income of $89,000 using absorption costi
Maksim231197 [3]

Answer:

21,200 units

Explanation:

For determining the sales, first we have to compute the net operating income difference which is shown below:

= Net operating income under absorption costing - Net operating income under variable costing

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= $14,400

Now the inventory units increased by

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And, the production units are 22,400

So, the sales would be

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= 21,200 units

This is the answer and the same is not provided in the given options

4 0
2 years ago
The detailed plan that shows the exact end items (i.e., finished products) to be produced in a specific time frame is known as w
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Answer:

Master Production Schedule (MPS)

Explanation:

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2 years ago
Select the correct answer. George works in a factory and is a member of the labor union. He thinks his wages are low for the wor
lukranit [14]

Answer:

C. collective bargaining

Explanation:

Collective bargaining is when negotiations for better terms of service involve and a group of employees or organized representatives of employees and the employers. The essence of collective bargaining is to have negotiations conducted by parties with interests only, not outsiders.

Collective bargaining may involve a single firm and its employees or employees from different organizations within the industry and their employers. The negotiation objective is to reach an agreement on improved terms or better working conditions.

6 0
3 years ago
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