Stadium owners have often been accused by business owners of doing what to the prices for sponsorship opportunities

Accruals recorded in the Salaries and Wages Expense and Salaries and Wages Payable columns of the balance sheet and income state

zhenek [66]

Answer:

Incurred but unpaid

Explanation:

When wages and salaries are incurred by an entity and paid, the entries required are debit Wages and Salaries expense, credit cash account. However, when the expense is incurred but cash is yet to be paid, this represents a liability to the organization and as such, an accrual is required. The entries to be posted are debit Wages and salaries expense (in the income statement), credit Accrued wages and salaries (in the balance sheet).

4 0

3 years ago

Which is not an example of a behavior exhibited in a market economy?

Diano4ka-milaya [45]

Answer: market economy’s do not have government interference in businesses

Explanation:

5 0

2 years ago

A company issued a 20-year, $1,000 par value bond that pays semiannual interest of $40. If the semiannual market rate of interes

Kitty [74]

Answer: $828

Explanation:

Given the following :

Semi-annual payment = $40

Period = 20 years

Number of payments = (20 * 2)(semiannual) = 40 payments

Par value = $1000

Interest rate = 5%

Using the PV table:

PV at $1 (40, 5%) = 0.1420

PVA at $1 (40, 5%) = 17.159

[Par value * PV at $1 (40, 5%)] + [$40 * PVA at $1 (40, 5%)]

= ($1000 * 0.1420) + ($40 * 17.159)

= $142 + $686.36

=$828.36

= $826

4 0

2 years ago

Rodriguez Company pays $310,000 for real estate plus $16,430 in closing costs. The real estate consists of land appraised at $21

Sergeeva-Olga [200]

Answer:

Required 1.

Land = $163,215

Land improvements = $65,286

Buildings = $97,929

Required 2.

Land $163,215 (debit)

Land improvements $65,286 (credit)

Buildings $97,929 (credit)

Cash $310,000 (credit)

Explanation:

Allocation of the purchase cost must be made on the bases appraisal value.

Total Appraisal Value = $215,000 + $86,000 + $129,000

= $430,000

Land = $215,000 / $430,000 × $326,430

= $163,215

Land improvements = $86,000 / $430,000 × $326,430

= $65,286

Buildings = $129,000 / $430,000 × $326,430

= $97,929

6 0

3 years ago

The best definition of an accounting system is: The concepts, principles, and standards specifying the information which should

White raven [17]

Answer:

The personnel, procedures, devices, and records used by an entity to develop accounting information and communicate this information to decision makers.

Explanation:

Accounting system is a system used to organise financial information. Accounting system can be manual or electronic

7 0

3 years ago