Answer:
Part 1:
Account Debit Credit
Salary Expense $9,000
Salary Payable $9,000
Part 2:
Account Debit Credit
Salary Expense $12,000
Salary Payable $12,000
Explanation:
Part 1:
Wednesday (3rd day of the week)
Salary of week =$15,000
Salary of each day=$15,000/5
Salary of each day=$3,000
Salary on Wednesday=$3,000*3
Salary on Wednesday=$9,000
Journal Entry:
Account Debit Credit
Salary Expense $9,000
Salary Payable $9,000
Part 2:
Salary of week =$15,000
Salary of each day=$15,000/5
Salary of each day=$3,000
Salary on Wednesday=$3,000*4
Salary on Wednesday=$12,000
Journal Entry:
Account Debit Credit
Salary Expense $12,000
Salary Payable $12,000
Answer:
the deferred revenue account is $2,900
Explanation:
The computation of the deferred revenue account is as follows;
= November sales - redemption of November and December month
= $4,350 - $435 - $1,015
= $2,900
Hence the deferred revenue account is $2,900
It could be come after applying the above formula
Therefore the correct option is 2nd
<span>57% and 43%
I'm pretty sure that this is what you're looking for so if you need more help or want me to explain this more just ask!
- Just Peachy</span>
Answer:
Total cash collections in February are $133600
Explanation:
The collections in the month of February will include 20% of sales made in February in account for cash sales.
Cash sales = 140000 * 0.2 = $28000
Thus, Credit sales for February are = 140000 - 28000 = $112000
Out of these credit sales made in February, 60% will be collected in February. Thus, credit sales made in February that will be collected in February are,
February collections from February credit sales = 112000 * 0.6 = $67200
Total cash collections in February from February sales = 67200 + 28000
Total cash collections in February from February sales = $95200
In addition, out of the credit sales made in January, 40% will be collected in February.
Collection from January sales in February = 120000 * 0.8 * 0.4 = $38400
Total collections in February = 38400 + 95200 = $133600
False, If wage goes up so will everything else