Pablo Management has five part-time employees, each of whom earns $250 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the five employees worked Monday, December 31, and Wednesday through Friday, January 2, 3, and 4 New Year's Day. (January 1) was an unpaid holiday.
1. December 31 Wages expense (debit) 1250
Wages Payable (credit) 1250
2. January 4 Wages expense (debit) 3750
wages payable (debit) 1250
Cash (credit) 5000
<h3>What are Wages?</h3>
A wage is the sum of money that an employer pays an employee for work that was completed within a certain time frame. The minimum wage, prevailing rate, annual bonuses, and remunerative rewards like prizes and tip payments are a few examples of wage payments.
A person's pay is the sum of money that is routinely given to them in exchange for the labour that they perform. He now makes more money.
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Answer:
Any commodities which are produced at home and yield utility to the family
Explanation:
Household production occur when member of a household produce goods and service for their own personal consumption or for their own personal use, using their own capital as well as their own unpaid labor .
In another word in HOUSEHOLD PRODUCTION the member of the household are both the producers as well as the consumers of the goods produce by them.
Example of these household consumption are: Foods, Clothes Acommodation among others. Therefore we can vividly say that HOUSEHOLD PRODUCTION consists of Any commodities which are produced at home and yield utility to the family.
<span>Key elements of an operations system (inputs, processes and outputs) in different ... of production and the quality of the finished products are determined therefore ... The process of transforming resourceinputs into finished goods and services ... can be added to the inputs and productivity gains made due toefficiency in the ...</span><span>
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Answer:
d. is the amount of consideration that a company expects to receive from a customer.
Explanation:
The price of the transaction is the expected amount that the customer receives to transfer the goods and services. This transaction price depends on the project being completed.
The transaction price plays a major role in recognizing the revenue as it specifies the contract with the customer, performance obligations, after which only the transaction price is evaluated, then the allocation is done and finally revenue is recognized
