Answer:
salaries expense 800 debit
cash 800 credit
Explanation:
The 800 will be a salaries paid to the accountant.
It will have to post:
salaries expense 800 debit
cash 800 credit
The new time Jhon receive a paycheck this amount will be subtracted from his salaries to compensate.
The pandemic and measures were taken to control the spread disease have significantly disrupted economic activity in countries around the world, resulting in significant business interruption losses.
<h3>What was the impact of pandemic over the insurance businesses?</h3>
Businesses across many sectors of the economy faced major decline in the revenue during the pandemic due to which government direct them to close their businesses.
Insurers and their associations around the world stated that most of the policyholders have not acquired insurance coverage which will respond to the business interruption losses that result from pandemic business closures.
Business interruption insurance against pandemic risk could be provided with support from governments based on the experience of risk insurance programs.
Learn more about the insurance business here:-
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Answer:
$1,500
Explanation:
Data provided:
operation's Beginning Inventory = $15,000
Purchases = $21,500
Ending Inventory for the period = $14,000
Total Cost of Sales = $21,000
Now,
The amount of this operation's Employee Meals in the period
= Beginning Inventory + Purchases - Ending Inventory - Total Cost of Sales
= $15,000 + $21,500 - $14,000 - $21,000
= $1,500
Answer:
An update of the fair value adjustment account,
Removal of the related investment account balances
The total amount of gain or loss that has occurred since the securities were purchased
Explanation:
The activities that occurred between the purchase and during the sales of bonds classified as trading securities will determine the entries to be recorded.
First, since it was an investment, it means, it had an entry already in the books. Its sales therefore, will mean the books needs to be updated and this will be done through the Fair value adjustment account.
Secondly in updating the fair value, there is the need to remove the related investment account balance. This is because the investment has been sold so it should not be reflected any more.
Thirdly, since the investment was bought at a point, carried for a while and then eventually sold, some gain or loss would have been generated between its acquisition and its sales, therefore the entry for total amount of gain or loss that occurred since the purchase should be made.
Part 4
The items such as the
