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Anna [14]
3 years ago
5

Paradise Realty Co. pays weekly salaries of $45,500 on Friday for a five-day workweek ending on that day. a. Journalize the nece

ssary adjusting entry at the end of the accounting period assuming that the period ends on Monday. b. Journalize the necessary adjusting entry at the end of the accounting period assuming that the period ends on Thursday.
Business
1 answer:
Ainat [17]3 years ago
3 0

Answer:

JOURNAL ENTRY

Dr Weekly Salary..............9,100

Cr. Accrued Salaries........................9,100

Explanation:

a. Journalize the necessary adjusting entry at the end of the accounting period assuming that the period ends on Monday.

The week ending on Monday implies that there would be one day weekly salary unpaid which 45,500 / 5 = $9,100

JOURNAL ENTRY

Dr Weekly Salary..............9,100

Cr. Accrued Salaries........................9,100

Being one day of weekly salaries accrued but unpaid at the end of the period

b. Journalize the necessary adjusting entry at the end of the accounting period assuming that the period ends on Thursday.

The week ending on Thursday implies that there would be four days weekly salary unpaid which (45,500 / 5)  x 4 days = $9,100 x 4 = $36,400

JOURNAL ENTRY

Dr Weekly Salary..............36,400

Cr. Accrued Salaries........................36,400

Being four days of weekly salaries accrued but unpaid at the end of the period.

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If we add successive laborers to work a given amount of land on a wheat farm, eventually:____.
Alexus [3.1K]

Answer:

d. the increases in wheat harvested will get smaller and smaller.

Explanation:

A marginal rate of technical substitution (MRTS) can be defined as an economic principle which is typically used to represent the rate at which a factor such as capital must decrease so that the same level or quantity of production is maintained when another factor such as labor is changed (increased).

An isoquant is the slope of a marginal rate of technical substitution (MRTS) which connects the two input factors provided that the level of output or production is the same.

Also, the diminishing marginal rate of technical substitution refers to the decline (fall) in marginal rate of technical substitution (MRTS) along an isoquant that produces the same quantity (level) of output.

When an isoquant has a diminishing marginal rate of technical substitution, the corresponding isoquants are convex to the origin. Thus, the marginal rate of technical substitution (MRTS) would continue to diminish as more of a factor such as capital is used.

If we add successive laborers to work a given amount of land on a wheat farm, eventually the increases in wheat harvested will get smaller and smaller.

6 0
3 years ago
Read 2 more answers
You live in a community with many teenagers, and you work during the summer bagging groceries for a low hourly wage. How might l
mario62 [17]

Answer:

D. Your wages would probably be higher because demand for baggers would be higher.

Explanation:

If I live in a community with fewer teenagers looking for grocery bagging jobs, the supply of labour would be lower. This would lead to an excess of demand over supply, wages would rise as a result.

I hope my answer helps you

4 0
3 years ago
What does an effective business begin with?
Vilka [71]

Answer:

trust, rules and schedules, a plan on what your selling, those products

Explanation:

I'm just saying what I think makes an effective business

3 0
3 years ago
Casey is the 12% marginal tax bracket, and Jean is in the 35% marginal tax bracket. Their employer is experiencing financial dif
larisa [96]

Answer:

Casey would prefer option 1; that he pays the premiums ($8,000). Even if Casey cannot deduct his insurance premiums as medical expenses, his income will only be reduced by $8,000. If he decided to take option 2, his income would be reduced by $8,800 (= $10,000 - 12%), so he is saving $800 by taking option 1.

On the other hand, Jean would prefer option 2; that her salary is reduced by $10,000 and her employer pays the premiums. By choosing option 2, Jean is going to lose $6,500 (= $10,000 - 35%). If she chose option 1, her income would be reduced by $8,000, so she is saving $1,500 by choosing option 2.

6 0
3 years ago
Dalworth and Minor have decided to form a partnership. Minor is going to contribute a depreciable asset to the partnership as he
Roman55 [17]

Answer:

d .$127,000

Explanation:

The computation of the beginning equity balance is shown below:

= Market value of the assets i.e agreed upon - Note payable secured by the asset

= $245,000 - $118,000

= $127,000

By deducting the note payable from the market value of the asset so that the beginning equity balance could come  

All other information mentioned in the question is not relevant. Hence, ignored it

8 0
3 years ago
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