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MaRussiya [10]
3 years ago
13

Sanborn Company has 10 employees, who earn a total of $3,300 in salaries each working day. They are paid on Monday for the five-

day workweek ending on the previous Friday. Assume that year ended December 31, is a Wednesday and all employees will be paid salaries for five full days on the following Monday. The adjusting entry needed on December 31 is: a. Debit Salaries Expense, $9,900; credit Salaries Payable, $9,900. b. Debit Salaries Expense, $6,600; credit Salaries Payable, $6,600. c. Debit Salaries Expense, $16,500; credit Salaries Payable, $16,500. d. Debit Salaries Expense, $9,900; credit Cash, $9,900. e. Debit Salaries Payable, $9,900; credit Salaries Expense, $9,900
Business
1 answer:
Alika [10]3 years ago
5 0

Answer:

The correct option is A,debit salaries expense $9,900.00 and credit salaries payable $9,900.00

Explanation:

As at 31st December, which was a Wednesday, the company would have incurred salaries for three days i.e Monday-Wednesday.

If each day costs $3,300.00 in salaries ,hence three days would cost $9.900.00(3*$3,300.00) in total.

Since amount of salaries owed is $9,900.00, an entry  has to passed in salaries payable account to show that the business has an obligation of $9,900.00 to settle by crediting salaries payable account and the corresponding debit  entry would be in salaries expense account in order to recognize costs.

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Does Svensons find a refrigerator value that $2300 on sale for $1900 they decided to withdraw $500 from savings to use as a dow
ivann1987 [24]

Answer:

B.The Svensons Assets increased by $1800

Explanation:

The Svensons assets increased by $1,800 because even if they purchased the refrigerator for $1,900, the market value of the refrigerator is $2,300, so their assets initially increase by this amount.

However, they also withdraw $500 from their savings to pay for the refrigerator, meaning that this asset account is reduced by the same amount.

Thus, an initial increase of $2,300 minus a later decrease of $500 gives us a final $1,800 increase.

5 0
3 years ago
Cordelia is an employee of Snaktyme Foods in Missouri. She earns $24,000 annually. Snaktyme has provided uniforms worth $350 and
Aleks04 [339]

Answer:

option (B) 31,500

Explanation:

Data provided in the question:

Annual earning = $24,000

Worth of uniform = $350

Training worth = $850

Contribution to 401(k) = half of  4% of earning

= 0.5 × 0.04 × $24,000

= $480

monthly amounts toward her insurance:

health = $125

Life = $50

AD&D = $30

Total annual amounts toward her insurance = 12 × [ $125 + $50 +$30 ]

= 12 × 205

= $2,460

Therefore,

Employer taxes and insurance = 14% of $24,000

= $3,360

Therefore,

Cordelia's total annual compensation

= $24,000 + $350 + $850 + $480 + $2,460 + $3,360

= $31,500

Hence,

Answer is option (B) 31,500

4 0
2 years ago
Cotton created the antebellum South. The wildly profitable commodity opened a previously closed society to the grandeur, the pro
Amiraneli [1.4K]

Answer:

Slavery in the southern US began to expand in the Virginia Colony with the tobacco plantations in the Chesapeake area. It expanded southwards with time, first to the Carolinas, were slaves were imported to work in Rice Plantations, and, finally the Georgia colony.

However, cotton began to replace tobacco, rice and sugar in the South, because it was more profitable, and suited better the soil and climate of the region. With the cultivation of cotton, slavery became widespread in the US. The majority of slaves were "imported" from the end of the 17th century to the first decades of the 18th century.

Cotton plantations made then, slavery institutions of the antebellum South widespread, strong and entrenched. The economics of the South practically depended on slavery, just like the economics of the Roman Empire a millenium ago.

5 0
3 years ago
The fact that a decreasing number of companies owns an increasingly large share of the American media is a concern primarily bec
Roman55 [17]

Answer:

Concentration of Media ownership

Explanation:

Many sad consequences have risen due to this growing trend such as:

1. American media are becoming more loyal to advertisers and government rather than to remain neutral or loyal to the public interest.

2. The elites are controling media information.

Also leading to corporate censorship of the mass media.

6 0
3 years ago
what is the producers surplus when barylia engages in trade and the government imposes a tariff of $1
ivolga24 [154]

Answer: $20

Explanation:

When the Government introduces a tariff, it will have the effect of reducing competition for the local producers because import prices will now be higher.

The Producer surplus before the tariff was <em>G</em> because they were forced to sell at the global price. With the imposition of the tariff, the price went to $4 or rather P2. This then increased Producer Surplus to include area <em>F </em>as well.

The total Producer Surplus is therefore, <em>F + G.</em>

This is a triangle so it will be solved for the area by the formula;

= \frac{1}{2} * base * height

= \frac{1}{2} * 20 * ( 4 -2)

= 10 * 2

= $20

4 0
2 years ago
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