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
Luba_88 [7]
3 years ago
11

Clever Computers has a five-day workweek and pays the office staff $3,050 each week. If the month ends on a Thursday, the adjust

ing entry will credit Wages Payable for a.$1,220. b.$3,050. c.$2,440. d.$610.
Business
1 answer:
Oksana_A [137]3 years ago
4 0

Answer: The correct answer is b.$3,050.

Explanation: Clever Computers has a five-day workweek and pays $3,050 each week. The payment will only occur at the end of the workweek when the staff have earned the wages. However, the month ended on Thursday, meaning that the staff have only worked for four-day workweek. They have therefore earned $2,440 (4/5*$3,050) at the end of the month but that payment is not due because the 5-day workweek has not been completed. The complete journals the company would raise would be Debit Wages (overhead) $2,440, Debit Wages receivable $610 and Cr Wages payable $3,050.

When it is next month after the five-day workweek has been completed, the company would Dr Wages Payable $3,050 and Credit Cash $3,050 to make the payment.

You might be interested in
The following is a partially completed lower section of a departmental expense allocation spreadsheet for Brickland. It reports
Arada [10]

Answer:

a. $6,400.

Explanation:

In solving this question on Computing the amount of Purchasing department expense to be allocated to Assembly, we'll have to use the formula below:

Purchasing department expense to be allocated to Fabrication = Total Cost of purchasing department X number of purchase order in / Total numbers of purchase orders in all operating departments

= $32000 X 4/20 = $6,400

3 0
3 years ago
Initial Outlay -$5,000 Year 1 $3,000 Year 2 $3,500 Year 3 $3,200 Year 4 $2,800 Year 5 $2,500. a. What is the PI if the discount
kkurt [141]

Answer:

a. What is the PI if the discount rate is 20%?

profitability index = present value of cash flows / initial outlay

PI = $9,137.41 / $5,000 = 1.83

b. What is the NPV if the discount rate is 20%?

NPV = -$5,000 + $9,137.41 = $4,137.41

c. What is the IRR if the discount rate is 20%?

the discount rate is irrelevant when you are calculating the IRR, since the IRR is the discussion rte at which the NPV = $0

IRR = 55.23%

Explanation:

Initial Outlay -$5,000

Year 1 $3,000

Year 2 $3,500

Year 3 $3,200

Year 4 $2,800

Year 5 $2,500.

7 0
3 years ago
When the government runs a budget deficit, what must it eventually do in
scZoUnD [109]

Answer:

Explanation:

The government has two options, with regards to paying back its debts; taxation and open market operations. Through taxation, tax rates per unit may be increased, which subsequently raises enough money to be used to pay up the debt. As for open market operations, the government, through its treasury or exchequer may issue risk free treasury bonds and bills to members of the public at fixed coupon rates. Whatever funds raised from the bond and bill sale are eligible for repaying the debt.

3 0
3 years ago
Read 2 more answers
Here is a forecast of sales by National Bromide for the first 4 months of 2015 (figures in thousands of dollars): Month: 1 2 3 4
Svetlanka [38]

Answer:

Consider the following calculations

Explanation:

Month 3: $36,000 + (0.5 × $180,000) + (0.3 × $210,000) + (0.2 × $190,000) = $227,000

Month 4: $32,000 + (0.5 × $160,000) + (0.3 × $180,000) + (0.2 × $210,000) = $208,000

8 0
3 years ago
During the fourth quarter ended December​ 31, Year​ 1, Lighting Fixtures Inc.​ (LFI) had average outstanding revolving bank loan
IrinaK [193]

Answer:

December 31, Year 1              DR.        Cr.

Accrued Interest Expense  $7,500

Interest Payable                                 $7,500

Explanation:

On December 31 Year 1 Interest was accrued and It was recorded by the Lighting Fixtures Inc.​ (LFI) but its outstanding now. Lighting Fixtures Inc.​ (LFI) paid the interest on January 15, at this time a payment entry of a payable interest was be made. Expense was charged on December 31 of year 1.

8 0
3 years ago
Read 2 more answers
Other questions:
  • Read the scenario.
    9·2 answers
  • Which of the following is NOT a good tip for driving at night? A . Beware of drowsiness B. Keep your eyes locked on the road ahe
    12·2 answers
  • Programming languages used to create artificial intelligence and expert system applications are often called _____
    5·1 answer
  • Social enterprises are businesses that directly address which of the following?
    14·1 answer
  • 1. When a business finds it necessary to layoff some employees (due to slowing sales), what positive effects might this have for
    9·1 answer
  • For a levered firm, flotation costs should
    6·1 answer
  • TB MC Qu. 16-98 At the beginning of the recent... At the beginning of the recent period, there were 1,020 units of product in a
    10·1 answer
  • Capital structures, cost of debt
    11·1 answer
  • Coronado Industries makes and sells umbrellas. The company is in the process of preparing its Selling and Administrative Expense
    12·1 answer
  • Drag the tiles to the correct boxes to complete the pairs.
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!