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blsea [12.9K]
3 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]3 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.)

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Use the following information to answer the questions:
Nostrana [21]

Answer:

A.) Since the United States has an aging population and thus an expected decline in working population in the future, therefore, increasing the output per worker seems more relevant in the United states than increasing the proportion of working population. Because Mexico on the other hand boasts a youthful population, Mexico can increase its standard of living by either increasing its output per worker or by increasing the proportion of the population that works.

B.) GDP INCREASES.....

STANDARD OF LIVING ALSO INCREASES....

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Explanation:

A.) Since the United States has an aging population and thus an expected decline in working population in the future, therefore, increasing the output per worker seems more relevant in the United states than increasing the proportion of working population. Because Mexico on the other hand boasts a youthful population, Mexico can increase its standard of living by either increasing its output per worker or by increasing the proportion of the population that works.

2.). - - - - - - - - - - - - - - - - - - - - - YEAR - - - - - -

------ - - - - - - - - - - - - - - - 2014 - - - - - - - 2015

Population - - - - - - - - - - 1000 - - - - - - - 1000

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Labor productivity - - - - 2000 - - - - - - - 1900

GDP = Labor productivity × employed pop.

2014 GDP = 2000 × 400 = 800,000

2015 GDP = 1900 × 440 = 836,000

GDP INCREASES.....

STANDARD OF LIVING ALSO INCREASES....

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Answer:

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