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2 years ago

The matching principle:

Business

1 answer:

KengaRu [80]2 years ago

8 0

Answer: Option D

Explanation: Matching principle is an accounting standard which states that the expenses incurred in a period should be recognized in the period in which the revenue relating to that expense is earned regardless of the fact when the cash exchange has been done.

So, as per the given problem option D is the right answer.

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Daniel Co. has 500 employees who work 8-hour days and are paid hourly. On January 1, 2020, Daniel started granting its employees

Jobisdone [24]

Answer:

The amount of expense for compensated absence to report in income statement for 2020 is $2,000,000.

Explanation:

This can be calculated using the following formula:

Amount to report in income statement for 2020 = Number of employees * Hourly wages in 2020 * Number of hours worked daily * Vacation Days Earned by Each Employee .......................... (1)

Where;

Number of employees = 500

Hourly wages in 2020 = $25

Number of hours worked daily = 8

Vacation Days Earned by Each Employee = 20

Substituting the values into equation (1) we have:

Amount to report in income statement for 2020 = 500 * $25 * 8 * 20

Amount to report in income statement for 2020 = $2,000,000

Therefore, the amount of expense for compensated absence to report in income statement for 2020 is $2,000,000.

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2 years ago

Describe the purpose of the SEC.

r-ruslan [8.4K]

the role of the SEC is to Protect investors. Maintain fair, orderly, and efficient markets.

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2 years ago

If the Federal Reserve lowers the target federal funds rate, Group of answer choices the discount rate rises liquidity in the ba

navik [9.2K]

Answer: Liquidity in the banking system is increased

Explanation:

The Federal Funds rate is the interest rate at which commercial banks are allowed to lend each other their excess reserves overnight to meet reserve requirements.

If this rate were to be reduced, it would make lending cheaper between banks who would then take advantage of this to borrow more occasionally. This will then translate to a higher liquidity amongst the banks.

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3 years ago

Um...look what i found

Ksju [112]

NASTY AND ALSO THE GUY THE ANSWERED IS NOW BANNED HAHAHA

8 0

2 years ago

According to the textbook readings, gross margin results from _____________ 1) Subtracting expenses from profit 2) Subtracting e

sveticcg [70]

Answer:

The answer is 3. Subtracting cost of goods sold from net sales

Explanation:

Gross margin or Gross profit is the profit a business earn after deducting cost associated with making the goods from net sales(Net sales - Cost of goods sold or Cost of sales)

To calculate cost of goods sold - opening inventory/stock plus purchases minus closing inventory/stock.

The attached file also support this statement.

7 0

2 years ago

Read 2 more answers