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
Anit [1.1K]
3 years ago
9

On March 1, 2012, Freeze Company hires a new employee who will start to work on March 6. The employee will be paid on the last d

ay of each month. Should a journal entry be made on March 6? Why or why not?
a. Yes, the company is now obligated to pay the employee, thus that event must be recorded.b. No, hiring an employee is an important event; however, it is not an economic event that should be recorded.
c. Yes, failure to record the event would cause the financial statements to be misleading.
Business
1 answer:
Art [367]3 years ago
7 0

Answer:

B. No.

Explanation:

We do not need to give a journal entry for a non-economic event. Non-economic event means where there are no monetary transactions. As the company hires new employees who will start working on March 6, it is an event, but we cannot value this event in monetary form. Therefore, no journal entry is required to post.

You might be interested in
Suppose C1 and C2 form a partition of sample space S. Suppose A and B are two events such that the following statements are true
kirza4 [7]

Answer:

Option b. A and B are conditionally independent given C2.

Explanation:

The conditional probability of an event is the probability that a given event will occur given that another event, say A has already occurred.

In a case where events A and B are independent (in this case, where the probability of A has no  effect on the probability of B occurring), the conditional probability of an event B given that A has taken place is simply the probability of the event A.

If the two events are not independent, then the probability of an event occurs as an intersection of set A and B.

6 0
3 years ago
Alex, an American, was invited to a formal dinner by his French manager. He was not sure about the correct flatware to be used f
Darina [25.2K]

Answer: Modeling

Explanation: Alex is modeling the behavior of others on the dining table to know the right flatware to use because he isn't sure of the correct one to use.

Modeling someone's behavior means to observe their behavior and trying to imitate them.

6 0
3 years ago
The use of slang creates which type of communication barrier?
Nadya [2.5K]

Answer:

letter A just my suggestion ☺️☺️

6 0
3 years ago
A certain marble quarry provides a unique type of marble that is richly colored and strikingly veined. It has been used for chur
Digiron [165]

Answer:

a. The cost of the marble will be expensive because of the bargaining power of the supplier.

Explanation:

3 0
3 years ago
Wildhorse Co. sells merchandise on account for $2800 to Morton Company with credit terms of 2/8, n/30. Morton Company returns $8
kipiarov [429]

Answer: Cash $1,960

Sales returns and allowances $800

Sales discount $40

Accounts receivable $2,800

Explanation:

Sales = $2,800

Sales returns = $800

Discount rate = 2%

The final amount due will be:

= Sales- Sales returns

= $2,800 - $800

= $2,000

Sales discount = 2% × $2,000 = $40

Cash received will be:

Final amount due - Sales discount

= $2,000 - $40

= $1,960

The journal entry will be:

Debit Cash $1,960

Debit Sales returns and allowances $800

Debit Sales discount $40

Credit Accounts receivable $2,800

5 0
2 years ago
Other questions:
  • A Cajun trinity, used in many Louisiana Creole and Cajun dishes such as gumbo, contains A. onion, celery, and parsnip. B. onion,
    6·1 answer
  • The _________________ is a resource that provides information on a wide variety of occupations, which also includes information
    15·2 answers
  • 11. In the first quarter of 2010, U.S. advertisers spent $5.9 billion on online advertising. In the first quarter of 2011, they
    5·1 answer
  • Select the examples that best demonstrate likely tasks for Science and Math workers.
    6·1 answer
  • Which of the following statements is CORRECT? a. Well-designed bond covenants are useful for reducing potential conflicts betwee
    10·1 answer
  • Trans Union Corporation issued 6,800 shares for $50 per share in the current year, and it issued 11,800 shares for $37 per share
    10·1 answer
  • For questions 1-10 fill in the blank with the letter of the term or description that best matches the term.
    5·1 answer
  • You are the project manager of the BHY Project. Your project customer has demanded that the project becompleted by December 1. D
    13·1 answer
  • If the variable overhead efficiency variance is $500 unfavorable and the variable overhead spending variance is $100 favorable,
    9·1 answer
  • It is possible to observe a positive nominal interest rate together with a negative real interest rate. a. True b. False
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!