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lora16 [44]
3 years ago
11

During the first year of operations, employees earned vacation pay of $35,000. The vacations will be taken during the second yea

r. The vacation pay expense should be recorded in the second year as the vacations are taken by the employees. True or False?
Business
2 answers:
nekit [7.7K]3 years ago
8 0

Answer:

False

Explanation:

In the given question it is mentioned that the employees earned vacation pay of $35,000 during the first year of the operation.

the expenses should be recorded as the vacation pay expenses in the same year not in the following year i.e the second year whether the employees take the vacation in the same year or the next year.

insens350 [35]3 years ago
6 0

Answer:

False

Explanation:

In the given question it is mentioned that the employees earned vacation pay of $35,000 during the first year of the operation.

Hence,

the expenses should be recorded as the vacation pay expenses in the same year not in the following year i.e the second year whether the employees take the vacation in the same year or the next year.

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There must be a<u> cordial relationship</u> and trust between two manufacturers in a business ecosystem working towards developing a new product for consumers.

<h3>What is a Business Ecosystem?</h3>

A business ecosystem is a deliberate commercial arrangement involving two or more organizations to develop and share a common value for consumers.

Every business ecosystem contains participants, and at least one of them serves as the controller. There must be a<u> cordial relationship</u> and trust between two manufacturers in a business ecosystem working towards developing a new product for consumers.

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2 years ago
One advantage of using a credit card is
alex41 [277]

Answer:

Convenience: You don’t have to worry about how much cash you have on hand. Just remember that you can always use a debit card instead. With a debit card you won’t be in danger of accumulating debt that will be subject to high interest charges if you don’t pay it off each month, like you would with a credit card. Remember to keep track of your checking account balance to be sure you can cover what you’re buying.

6 0
3 years ago
If profit per unit equals (price - cost per unit) and costs are temporarily fixed, then the aggregate supply curve will have
aliya0001 [1]
<span>If profit per unit equals (price - cost per unit) and costs are temporarily fixed, then the aggregate supply curve will have a positive slope. From the equation that the profit per unit is equal to price minus by the cost per unit meaning that as prices rises and more output is produced. In doing so, as the effect of more output corresponding to an increase in price with a slope rising to the right depends on the response of the costs.</span>
5 0
3 years ago
Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $400. The fund wa
Sergio [31]

Answer:

A credit to Cash of $299

Explanation:

Journal Entry                     Debit    Credit

Merchandise inventory      $62

Delivery charges                 $46

Office supplies                    $30

Miscellaneous expenses    $51

Cash over and short             $100

Cash                                                   $299

Cash to be reimbursed = Minimum cash balance required - Cash balance left

Cash to be reimbursed = $500 - $201

Cash to be reimbursed = $299

7 0
3 years ago
Logano Driving School’s 2017 balance sheet showed net fixed assets of $2.4 million, and the 2018 balance sheet showed net fixed
mamaluj [8]

Answer:

The answer is: $1,219,000

Explanation:

The formula used to calculate Logano Driving School's net capital spending for the year is:

net fixed assets 2018 - net fixed assets 2017 + depreciation expense 2018

net capital spending = $3,300,000 - $2,400,000 + $319,000

net capital spending = $1,219,000

8 0
3 years ago
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