Answer:
Correct answer is:
Debit Salaries Expense $840
Credit Salaries Payable $840
Explanation:
2 employees each paid at $ 210 per day so daily salary expense is $210*2 = $420.
The accounting period ends on Tuesday and both employees work for Monday and Tuesday so the 2 days salaries expense is $420*2= $840.
As the salaries are paid on every Friday so there is a liability on a company for the 2 days salary payable to be recorded on accounting period close date i.e Tuesday.
Answer:
c. $40,000
Explanation:
Reduction in Account Receivables $500,000
($2,500,000 * 20%)
<u>* Interest rate 11% </u>
Annual saving $55,000
Less: Annual cost of system <u>-$15,000</u>
Pretax Net annual savings <u>$40,000</u>
False :
because a product modification occurs when changes are made in how the product functions, its quality, or some aesthetic characteristic of the product.
(Here it’s says only the aesthetic but it’s all)
Answer:
Option b ($150,000 decrease) is the correct answer.
Explanation:
Given:
Fixed manufacturing overhead,
= $65
Units,
= 10,000
According to the question,
Current cost is:
= 
= 
($)
The expected cost will be:
= 
By substituting the values, we get
= 
= 
= 
then,
= 
= 
($)
Thus the above is the right answer.
Answer:
Annual depreciation= $10,000
Explanation:
Giving the following information:
The total acquisition cost was $33,000. The machine has an estimated useful life of 3 years and a salvage value of $3,000.
To calculate the depreciation expense under the straight-line method, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (33,000 - 3,000)/3
Annual depreciation= $10,000
