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fomenos
3 years ago
13

An accrual of wages expense would have what effect on the balance sheet? A. Decrease liabilities and increase equity B. Increase

assets and increase liabilities C. Increase liabilities and decrease equity D. Decrease assets and decrease liabilities E. None of the above
Business
2 answers:
Salsk061 [2.6K]3 years ago
8 0

Answer: C. Increase liabilities and decrease equity

Explanation:

Wages payable are wages that a firm's workers have earned, but have not yet been paid and using the accrual method of accounting, it is recorded with an adjusting entry at the end of the accounting period. This allows the amount to be included as a current liability in the balance sheet. An accrual of wages expense increase wages payable (a current liability) and decreases retained earnings (equity) resulting from the decrease in net income. Therefore, An accrual of wages expense would increase liabilities and decrease equity.

nydimaria [60]3 years ago
5 0

Answer:

C. Increase liabilities and decrease equity

Explanation:

Accrued wages are the wages expense which is incurred and no been paid yet. This expense is recorded as follow

Dr.  Wages Expense   $xxx

Cr.  Wages Payable    $xxx

Expense ultimately settles in the equity balance through net income and retained earning. It decreases the net income, retained earning and equity balance as well.

On the other hand the wages payable is a liability account, due to credit nature a credit entry will increase its balance.

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Today's consumers do not need to rely on marketer-supplied information about products and services because they can use ________
MariettaO [177]

Answer:

The answer to the question would be C

Explanation:

Without a doubt, the economic crisis has changed the way consumers approach the market for goods and services. In this new era, austerity, discounts and the search in different channels of the best price / benefit ratio dominate.

Of course, technology and the Internet are the best allies of the consumer who wants to be informed: thanks to smartphones, bar scanners, social networks or websites that compare prices or offer discounts, we are the buyers with more prior information on what we want or need to acquire.

4 0
3 years ago
Radon Corporation manufactured 34 comma 10034,100 units during March. The following fixed overhead data pertain to​ March:
Llana [10]

Answer:

$38,750 Favorable

Explanation:

Fixed overhead absorption rate:

= Fixed Overhead Costs for March (static budget) ÷ Production(static budget)

= $387,500 ÷ 31,000

= 12.5 per unit

Fixed overhead production−volume ​variance:

= Amount actually applied - Amount budgeted

= (12.5 × 34,100) - $387,500

= $426,250 - $387,500

= $38,750 Favorable

                                                                                     

3 0
3 years ago
A(n) ____ activity is one that happens on a regular basis.
astra-53 [7]
A recurring activity is one that happens on a regular basis. These activities usually are very similar and refer to the same thing and objective. Recurring activities that an organization carries out in order to enhance its efficiency and its ability to meet requirements can lead to c<span>ontinual improvement.
</span>

6 0
3 years ago
Read 2 more answers
What guidance identifies federal security controls.
pantera1 [17]

The Federal Information Security Management Act of 2002 is the guidance that identifies federal security controls.

<h3>What is the The Federal Information Security Management Act of 2002?</h3>

This is also known as the FISMA 2002. This guideline requires federal agencies to doe the following:

  • To document
  • To implement
  • To develop

Agency programs nationwide that  would help to support the operations of the agency.

Read more on federal agencies here:

brainly.com/question/8109105

3 0
2 years ago
On January 1, 2015, Brooks Inc. borrows $90,000 from a bank and signs a 5% installment note requiring four annual payments of $2
Black_prince [1.1K]

Answer:

The journal entry which is to be recorded for the first installment payment on the note is shown below:

Explanation:

The journal entry is as on December 31, 2015

 Interest Expense A/c.................Dr  $4,500

Notes Payable A/c.......................Dr  $20,881

              Cash A/c..............................Cr   $25,381

Working Note:

Interest expense = Borrowed amount × 5%

= $90,000  × 5%

= $4,500

Note Payable = Cash - Interest expense

= $25,381 - $4,500

= $20,881

5 0
3 years ago
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