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3 years ago

Which of the following accounts are normally reported as current liabilities on a classified balance sheet?

Business

1 answer:

IRISSAK [1]3 years ago

7 0

Answer:

d. Income Taxes Payable and Salaries Payable

Explanation:

Current liabilities are short term obligations of an entity due for repayment within a period of 12 months.

From the options given d. Income Taxes Payable and Salaries Payable both presents current liabilities.

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Money Market Mutual Find Balances held by Businesses $100 Money Market Mutual Fund Balances held by Individuals 220 Currency in

oksian1 [2.3K]

Answer:

Explanation:

M2= 60+70+50+220+80= $480

hence option A is correct

MZM = $480-80+100= $500

4 0

4 years ago

Read 2 more answers

A company's beginning Work in Process inventory consisted of 37,000 units that were 90% complete with respect to direct labor. A

pychu [463]

Answer:

128,000 units

Explanation:

The calculation of the equivalent units of production using the weighted average method is given below:

= Total units of finished goods × completion percentage + ending work in process units × completion percentage

= 107,000 units × 100% + 42,000 units × 50%

= 107,000 units + 21,000 units

= 128,000 units

Hence, the equivalent units of production of direct labor is 128,000 units.

8 0

3 years ago

Which of the following is the federal agency charged with protecting consumers from "unreasonable risks of injury and death" fro

Lunna [17]

Answer:

The correct answer is option A.

Explanation:

The consumer product safety commission is an independent agency of the US government. It works to promote the safety of consumer products. It addresses the unreasonable risk of injury and develops uniform safety standards.

This agency was founded in the year 1972 by the consumer product safety act. It basically protects the public from the products that can be dangerous, for instance, lawnmowers, washing machines, etc.

3 0

3 years ago

Ahngram Corp. has 1,000 defective units of a product that cost $3.30 per unit in direct costs and $6.80 per unit in indirect cos

OLga [1]

Answer:

If the units are reworked, income will increase by $5,800.

Explanation:

Giving the following information:

Number of units= 1,000

Sell as-is= $4.3

Rework cost= $2.8

Selling price= $12.9

<u>Because the original cost will remain constant in both options, we will not take them into account.</u>

Sell as-is:

Effect on income= 1,000*4.3= $4,300

Rework:

Effect on income= 1,000*(12.9 - 2.8)

Effect on income= $10,100

If the units are reworked, income will increase by $5,800.

4 0

3 years ago

On November 1 of the current year, Rob Elliot invested $29,750.00 of his cash to form a corporation, GGE Enterprises Inc., in ex

slavikrds [6]

Answer:

1. What is the amount of profit or loss during December?

$9,300

2. What were the total expenses for December?

$12,950

3. How much was paid for rent?

$1,220

Explanation:

we are missing some numbers, so I looked for a similar question. I found one that was almost identical, but the amount of initial paid in capital varied by a little bit. I still used it with the only difference that I used the given common stock, not the common stock that appears in the picture.

Common stock $29,750

retained earnings for November = $5,000

total assets = $56,150

total stockholders' equity = $38,300

retained earnings = $38,300 - $29,750 = $8,550

$5,000 from November
$3,550 from December

December's profit = $3,550 (retained earnings) + $5,750 (dividends) = $9,300

income statement = $27,250 - total expenses = $9,300 + $5,000 = $14,300

total expenses = $27,250 - $14,300 = $12,950

utilities expense = $12,950 - $6,450 - $4,625 - $1,220 = $655

3 0

4 years ago