Employer. The bosses give their employees the W-2 form
Answer:
In 2017
Net Income and Retained Earning are overstated by $100,000
Expenses and Payables are understated by $100,000.
In 2018
Inventory, Net Income and Retained Earning are understated by $57,000
Expenses are overstates by $57,000
Explanation:
Accrued Salaries is Recorded as follow
Dr. Salaries Expense
Cr. Salaries Payament
Non recording of this entry will result in understatement of Expenses and Payables by $100,000 over statement of Net income and retained earning by the same amount.
Treatment of Office supplies of $57,000 as expense will overstate the expenses and understate the the inventory, Net income and Retained Earning.
A benefit is that it. gives you control over your finance.
Answer:
Dr. Salaries Payable $2,000
Dr. Salaries Expense $2,250
Cr. Cash $4,250
Explanation:
At the end of fiscal year following entry was paased to record the accrued salary expense and create a payable account.
Dr. Salaries Expense $2,000
Cr. Salaries Payable $2,000
The remaining Expense of $2,250 ($4250-$2000) is related to current fiscal year so, it is recorded with the payament.
Answer:
the safe steps of the MBO process are Define organizational goals Define employees are objectives continuous monitoring performance and progress perform evaluation providing feedback performance appraisal. Define organizational goals goals are critical accused organizational Effectiveness and they served a number of purposes organizations can also have several different kinds of gold all of much would be appropriately managed and a number of different kinds of managers must be involved in setting goals the goals set by their superiors are preliminary based on an analysis and judgment as to what can and what should be accomplished by the organization within a certain period. Define employees objectives after making sure the employees managers have informed a pertinent General objectives strategies and planning premises the manager can then proceed to work with employees and setting their objectives asked what goals the employees believe they can accomplish and what time. And with what resources they will then discuss some preliminary thoughts about what go seem feasible for the company or Department. continuous monitoring performance and progress MBO process is not only essential for making line managers and business organization more effective but also equally important for monitoring the performance and progress of employees for monitoring the performance and progress the following are required identifying and effective programs by comparing performance with preestablished objectives using zero based budgeting applying Bo concept for measuring individual and plans preparing long and short-range objectives and plants installing effective controls and designing a sound organizational structure with clear responsibilities and decision-making Authority at the appropriate level. performance evaluation under the NBA process performance review is made by the precipitation of concern managers. providing feedback the filial ingredients in an MBO program and continuous feedback on performance and goals that allow individuals to Monitor and correct their own actions base continues feedback is supplemented by periodic formal appraisal meetings in which superiors and subordinates can review progress toward goals weight sled to further feedback. performance appraisal. performance appraisals are irregular view of employee performance with an organization it is down at the last stage of the MBO process.
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