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
irakobra [83]
3 years ago
12

On December 31, Year 1, Gaskins Co. owed $4,500 in salaries to employees who had worked during December but will not be paid unt

il January, Year 2. If the year-end adjustment is properly recorded on December 31, Year 1, what will be the effect of this accrual on net income and cash flows from operating activities reported for Year 1?
a. No effect on net income; no effect on cash flow from operating activities
b. Decrease in net income; no effect on cash flow from operating activities
c. Increase in net income; decrease in cash flow from operating activities
d. No effect on net income; decrease in cash flow from operating activities
Business
1 answer:
frez [133]3 years ago
4 0

Answer:

b. Decrease in net income; no effect on cash flow from operating activities

Explanation:

The adjusting entry is shown below:

Salaries expense A/c Dr $4,500

              To Salary payable A/c Dr $4,500

(Being the accrued salary is recorded)

As we can see that the salaries expense is an expense account due to which the net income got decreased plus the salary payable has come under current liabilities of the balance sheet so there is no impact on the cash flow from operating activities

You might be interested in
Ewa signs an instrument unconditionally promising to pay to "Sunny State Bank" $5,000 with interest in installments with the fin
zavuch27 [327]

Answer:

a promissory note

Explanation:

Based on the information provided within the question it can be said that the instrument that Ewa signed is most likely a promissory note. This is a not that enforces an unconditional promise, from one individual to another promising to make a certain payment in a certain time period. Which is exactly what EWA is signing when agreeing to pay $5,000 with interest in installments with the final payment due June 1, 2013.

5 0
4 years ago
Who wants to be my friend I am a 15-year-old girl
Nesterboy [21]

Answer:

me me i can be your friend...

3 0
3 years ago
Mccabe Corporation uses the weighted-average method in its process costing. The following data pertain to its Assembly Departmen
Gemiola [76]

Answer and Explanation:

The computation of the equivalent units of production for both materials and conversion costs is given below:

For material

= Units completed + ending work in process × completion percentage

= 7,700 + 2,100 × 0.75

= 9,275 units

And, for conversion cost

= Units completed + ending work in process × completion percentage

= 7,700 + 2,100 × 0.25

= 8,225 units

5 0
3 years ago
The management of Irving Inc., an apparel company based in Letonia, decides to expand the company's operations to several other
sergeinik [125]

Answer:

The answer to this question is B. It can modify its Web site according to the foreign countries' cultures.

Explanation:

A business environment is all internal and external factor that is capable of influencing organisations decision. While internal environment are mostly within the business itself, external factors are from without which means the business has little or no control  

For organisations to succeed in a foreign market, it is required to deal with large society and cultural differences that is practiced in that country.

 social - cultural factor is one of the external factors that can influence a business decision from without in the environment in which it operates.

The social cultural factors which includes belief, norms and customs of the people in that environment are what the business should adhere to in other to succeed in such country.

Therefore, modifying its web site according to the foreign country's culture is a step to achieve what has been explained above.  

Hence the answer to this question is B   It can modify its Web site according to the foreign countries' cultures.

3 0
3 years ago
Mr. Brown Wants to open a coffee shop. He has to decide whether he needs to apply for a loan or borrow money from financiers. Al
aliya0001 [1]

Answer:

Planning

Explanation:

Planning involves thinking ahead of time and making necessary preparations. As a management function, planning entails setting an organization's objectives and determining the path to follow to achieve them. Planning involves making logical preparations for moving an organization from where it is to where it wants to be.

Mr. Brown is planning how to establish his business. He is thinking of the measures he needs to put in place before the actual opening. Mr. Brown wants to have his financing and employee information sorted out well ahead of time.

6 0
3 years ago
Other questions:
  • A company has the following asset account balances: Buildings and equipment $9,200,000 Accumulated depreciation 1,200,000 Patent
    14·1 answer
  • Deflorio Corporation’s inventory at the end of Year 2 was $167,000 and its inventory at the end of Year 1 was $152,000. The comp
    6·2 answers
  • During the recession of 2007-2009, the U.S. economy was experiencing a decrease in home prices and consumer wealth, a credit cri
    10·1 answer
  • ecord adjusting journal entries for each of the following for year ended December 31. Assume no other adjusting entries are made
    8·1 answer
  • In 1985, you received a
    11·1 answer
  • According to the Comparative Analysis of Tools and Technologies for Policy-Making theory, there are 11 possible main categories
    10·1 answer
  • Which responsibility is an important function of the sales and marketing team?
    14·1 answer
  • Conduct a meeting with the client about negotiating. please write a conversation or scenario?
    9·1 answer
  • Explain what the credit terms of 2/10,n/30 mean. (Check all that apply.) Multiple select question. The full payment is due withi
    5·1 answer
  • Using the data below, determine the ending inventory amount assuming the weighted average method under a periodic inventory syst
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!