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mixas84 [53]
3 years ago
5

For the year ended December BL 2017, Lopez Company has implemented an employee bonus program based on Lopez’snet income, which e

mployees will share equally. Lopez‘s bonus expense is computed as $14,5611. Prepare the journal entry at December 31, 2017, to record the bonus due the employees.2 Prepare the journal entry at January 19, 2018, to record payment of the bonus to employees,
Business
1 answer:
amid [387]3 years ago
3 0

Answer: Net income Dr $14,5611

Bonus payable CR 14,5611

Narration. Bonus expenses payable to staff

Employee Bonus account Dr 14,5611

Bank/Cash CR. 14.5611

Narration. Payment of employees bonus for previous year.

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Macroland, currency held by the public is 2,000 econs, bank reserves are 300 econs, and the required reserve/deposit ratio is 10
I am Lyosha [343]

Answer:

D)5,000; 7,000

Explanation:

Public is holding 2000 econs and banks reserves are 300 econs. It is mentioned that reserve requirement is 10%.

So total bank deposits must be 3000. Money supply in the economy is (3000 + 2000 = 5000)

When the reserve ratio is 0.1, that means the money multiplier is 10.

If there is an additional inflow of currency because of printing 200 econs by central bank then because of multiplier effect it will be 2000 econs.

Money supply from earlier 5000 econs will become 7000 econs.

Option D is correct.

7 0
3 years ago
On January 1, 2020, Green Corporation granted 28,000 shares of restricted $13 par value common stock to its CFO. The market pric
EleoNora [17]

The correct answer is $588000

<u>Explanation:</u>

As the restricted shares provided to the employees are recorded at the market value. The restricted shares have a vesting period which means the employee cannot sell the stock right away, for example the CFO might have to wait for 2 years before being able to sell the stock. Generally, the company will debit deferred revenue expense with the amount of $588000 currently and write off over the vesting period.

Amount of compensation expense that needs ot be recorded by Green on the december 31,2020 is $588000.

( 28000 shares multiply with $21 per share).

6 0
3 years ago
Not more than hundred (100) words describe the nature of Ethics as a core branch of Philosophy.
kumpel [21]

Ethics is the branch of philosophy that explores the nature of moral virtue and evaluates human actions. Philosophical ethics differs from legal, religious, cultural and personal approaches to ethics by seeking to conduct the study of morality through a rational, secular outlook that is grounded in notions of human happiness or well-being. A major advantage of a philosophical approach to ethics is that it avoids the authoritarian basis of law and religion as well as the subjectivity, arbitrariness and irrationality that may characterize cultural or totally personal moral views. (Although some thinkers differentiate between "ethics," "morals," "ethical" and "moral,")





4 0
4 years ago
In 1970 Professor Fellswoop earned $12,000; in 1980 he earned $24,000; and in 1990 he earned $36,000. If the CPI was 40 in 1970,
Arte-miy333 [17]

Answer:

In 1980

Explanation:

Year        Salary        Percentage Salary Increase        CPI Increase

1970       $12,000     -                                                      -

1980       $24,000    100                                                 50

1990       $36,000    50                                                   83.3

As can be seen in the table, the Professor's salary increase from 1970 to 1980 was twice as much as the CPI increase during the same period.

On the contrary, his salary increase from 1980 to 1990 was significantly less than the CPI increase during the same period.

Therefore, the professor's salary was highest in 1980.

4 0
3 years ago
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melamori03 [73]

Answer:

<u>a. True</u>

Explanation:

Indeed, we could rightly say the statement is true by remembering the four key factors of production (business):

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Labor is part of the list of important factors and political freedom allows the entrepreneur to sucessfully manage business activities.

7 0
3 years ago
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