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
ahrayia [7]
3 years ago
6

Assume US GAAP to answer this question.In 2017, $2 million in wages were earned and no cash wages were paid.In 2018, $8 million

in wages were earned and $7 million in cash wages were paid.Cash wages were used to first pay wages earned in 2017 with the remainder used to pay wages earned in 2018.Any earned but unpaid wages will be paid during the first quarter of 2019.Using only the information provided, which of the following statements is most accurate?A. Liabilities increased by $1.0 million in 2018B. Liabilities increased by $3.0 million in 2018C. Assets decreased by $5.0 million in 2018D. Retained earnings decreased by $10.0 million in 2018E. Retained earnings decreased by $7.0 million in 2018
Business
1 answer:
solniwko [45]3 years ago
3 0

Answer:

The right answer is A. Liabilities increased by $1.0 million in 2018

Explanation:

During 2017 and 2018, we have the following information:

+ In 2017, there is $2 million wages earned but not yet paid, so, Wages payable at the end of 2017 should be amounted to $2 million.

+ In 2018, there is another $8 million wages earned. At the same period, there is $7 million wages paid which is distributed as followed: $2 million to clear all Wages payable in 2017 and the other $5 million to clear $5 million out of $8 million wages payable in 2018. So, the only wages liability outstanding at the end of 2018 is the amount of $3 million earned in 2018 but not yet paid ($8 million - $5 million).

=> Liabilities in 2018 increases $1.0 million in comparison with the year 2017 ( $3 million - $2 million).

You might be interested in
Unemployment is often called a lagging or trailing indicator because unemployment tends to rise some time after the economy begi
andrezito [222]

Answer:

B) firms reduce hours before laying off when the economy is in recession, and increase hours before hiring when the economy expands.

Explanation:

In the case when the output falls so the workers would not be laid off in a direct manner. In the first time the labor would be decreased so that the demand could be analyzed. The same would be happen in that case also where the growth picked up

Therefore in the given case, the option B is correct

And the other options are wrong

7 0
2 years ago
The variable overhead rate is $9.30 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $106,140 per m
Pani-rosa [81]

Answer:

Cash= 87,910 + 9.3*direct labor hour

Explanation:

Giving the following information:

The variable overhead rate is $9.30 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $106,140 per month, which includes depreciation of $18,230.

Cash= (106,140 - 18,230) + 9.3*direct labor hour

Cash= 87,910 + 9.3*direct labor hour

8 0
3 years ago
According to a study conducted by an​ organization, the proportion of americans who were afraid to fly in 2006 was 0.10. a rando
faust18 [17]

Answer:

This is not necessarily evidence that the proportion of Americans who are afraid to fly has  decreaseddecreased  because belowbelow  0.10 because the proportion of sample, is nothing very close to 0.10.

Explanation:

n = 1100

p = 0.10

Using the formula np(1-p), we will have

= 1100(0.10)*(1 - 0.10)

= 1100*0.10*0.90

= 99

99 ≥ 10

This satisfies normal distribution condition. That is, proportion of sample are normally distributed.

3 0
3 years ago
Which of the following tactics might public sector unions use to increase management's cost of disagreeing with the union positi
rjkz [21]

Answer:

D. All the above are legal tactics that the union can use to pressure management to accept the union's position on an issue.

Explanation:

Each and everyone one of the options mentioned above are tactics adopted by the union in pressuring management to accept their position on most of the issues which they have or are arguing about.

5 0
3 years ago
Comfort Corners Home Furnishings uses labor and machinery to transform wood, plastic, metal, and cloth into comfortable chairs,
Alinara [238K]

Answer:

Form Utility.

Explanation:

This is the process of designing a product to target a specific client's needs or wants. Customers' desires are incorporated into the features and benefits the products offer to customers. As in the above company. Various designs of furniture have been designed to appeal to customers needs and wants in home furnishing.furnishings.

3 0
3 years ago
Read 2 more answers
Other questions:
  • Ryan's dad needs to drive bigger company vehicles in order to get promoted. What does he need?
    6·1 answer
  • Which of the following is most important for the team leader to encourage during the storming stage of group and team developmen
    8·1 answer
  • What is market segmentation? List the steps in the market segmentation process.
    15·1 answer
  • According to the textbook, an organization should have only one central plan that guides the organization towards its goals. In
    14·1 answer
  • A 180-day $3 million CD has a 4.25 percent annual rate quote. If you buy the CD, how much will you collect in 180 days?
    14·1 answer
  • Who is Jake from Statefarm??
    8·2 answers
  • Why are the three separate occupations of plumbers, pipefitters, and steamfitters grouped together by the Department of Labor?
    6·1 answer
  • A driver should not strive to develop a positive attitude when driving
    14·2 answers
  • ________ is an organized movement of citizens and government agencies to improve the rights and power of buyers in relation to s
    8·1 answer
  • Interactive voice response directs customers to use touch-tone phones or keywords to navigate or provide information.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!