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
blsea [12.9K]
2 years ago
12

For the year ended December 31, Lopez Company implements an employee bonus program based on company net income, which the employ

ees share equally. Lopezâs bonus expense is computed as $40,777. 1. & 2. Prepare the journal entry at December 31 to record the bonus due and January 19 to record payment of the bonus to employees.
Business
1 answer:
Mrac [35]2 years ago
4 0

Answer:

Lopezâs bonus expense is computed as $40,777. Therefore,

The Journal entries are as follows:

(i) On December 31,

Employee bonus expense A/c    Dr. $40,777

To Bonds payable A/c                                       $40,777

(To record the bonus due)

(ii) On January 19,

Bonds payable A/c     Dr. $40,777

To Cash A/c                                     $40,777

(To record the payment of the bonus to employees.)

You might be interested in
Rupert and cordelia own an american company that does business in foreign nations. getting a license in a new country can be cha
Lyrx [107]

Answer:

The payment made by Cordelia

Explanation:

In the scenario it stated clearly that Rupert filled out what would have been a normal application form for operational license in the country

However Cordelia using connections was able to schedule a meeting with the government official that <u>has the authority to determine which foreign companies get licenses, and pays him $200 to approve their license.</u>

Cordelia payment is nothing short of bribery and corruption because it is not a legally required payment and the motive was clearly to unduly influence the minister to approve their license.

Such payment will likely violate the foreign corrupt practices act

6 0
3 years ago
Read 2 more answers
A list of financial statement items for Blossom Company includes the following:
cricket20 [7]

Answer:

Total current assets            $83,580

Explanation:

The preparation of the current assets section of the balance sheet is shown below:

<u>Current Assets                  Amounts </u>

Cash                                   $22,360

Debt investments(short term) $17,360

Accounts receivables     $30,100

Supplies                             $8,170

Prepaid Insurance              $5,590

Total current assets            $83,580

5 0
2 years ago
In a pure market economy, the "What to produce?" question is ultimately answered by:
Genrish500 [490]

In a pure market economy, the "What to produce?" question is ultimately answered by : consumer sovereignty.

Explanation:

Market autonomy is a two-way economic concept. Market autonomy in production applies to what finished products should be produced from these materials to the control power of the customers over those with scarce resources.

For example, the highest levels of consumer autonomy occur of consumers on the free market. The customer can buy any product in any quantity he wants. But the state or central government decides what to manufacture in a command economy.

8 0
3 years ago
In 1981, 16 percent of wives earned more than their husbands. what was the percentage as of 2005?
AnnZ [28]
Given that <span>In 1981, 16 percent of wives earned more than their husbands.

It is reported that in 2005, about 26% of wives earned more than their husbands.</span>
7 0
3 years ago
_______ has been defined as the process of identifying consumers with similar attributes who are likely to exhibit a similar buy
Hoochie [10]

Global market segmentation has been defined as the process of identifying consumers with similar attributes who are likely to exhibit a similar buying behavior.

<h3><u>Explanation:</u></h3>

The process involved in the identification of a particular segment of customers to sell the products refers to the Global Market Segmentation. Those customers of the groups that has the nature of similar behavior in buying of certain products will be grouped together under this process.

The people in the identified group will have the same purchasing behavior. Thus, when the customers of similar buying behaviors are grouped then the targeting process of the business will become easier. Fir example if you are manufacturing chocolates then it will be easier to target on;ly children and the adults.

8 0
3 years ago
Other questions:
  • Firm A and Firm B are the only two companies that sell mail-order DVD rental subscriptions. For several years, Firm A priced its
    6·1 answer
  • Suppose the state of Wyoming passes a law that increases the tax on cigarettes. As aresult, smokers who live in Wyoming start pu
    6·1 answer
  • The "least restrictive environment" provision of P.L. 94-142 provides a direct legal basis for 23) ______
    11·1 answer
  • The unadjusted balance of the Allowance for Doubtful Accounts of Johnston Supplies, Inc. is a credit balance in the amount of $2
    8·1 answer
  • Adonis Corporation issued 10-year, 7% bonds with a par value of $220,000. Interest is paid semiannually. The market rate on the
    11·1 answer
  • Kris decided to go shopping for a pair of tennis shoes. She went to the mall where there were several stores selling shoes. The
    7·1 answer
  • Turner Company owns 10% of the outstanding stock of ICA Company. During the current year, ICA paid a $5 million cash dividend on
    12·1 answer
  • The team is working through the planning processes. They are using a plan-driven approach to this system-critical change that wi
    11·1 answer
  • Which term refers to the interest the Federal Reserve Bank (Fed) charges banks for loans? open‑market sale fractional banking re
    6·1 answer
  • A farmer and an investor negotiate a Futures Contract where Tomatoes will be sold
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!