Answer:
The correct entry is to reverse the entry on December 3rd
Dr Salaries and Wages expenses of $27,000
Cr Salaries and Wages payable of $27,000
Explanation:
During the time of the accrued entry, which is on December 31st
the company registered
Dr Salaries and Wages PAYABLE of $27,000
Cr Salaries and Wages EXPENSES of $27,000
It was just an accrued entry to be able to identify the expenses to the balance sheet, but currently on the original expenses on January 3rd, the entry is reverse, then the real or main expenses is recorded in the balance sheet.
Dr Cash of $47,000
Cr Salaries and Wages EXPENSES of $47,000
You have to do some adding and multiplying. first 99.55 times 4 tires
Answer: Option (b) is correct.
Explanation:
Correct : by eliminating the need to travel to stores to shop.
Internet literally reduced the search cost by saving the travel time of the consumers to the shopping stores. Now days, almost all the consumers prefer to buy products online instead of travelling here and there for the products.
Buying products from the stores involves certain costs such as travelling cost, waste of time, miscellaneous,etc.
Hence, internet facility helps in reducing these kind of costs, that's why in today's world mostly people rely more on internet for shopping and all instead travelling to the stores.
Answer:
D. Retained earnings
Explanation:
Retained earnings refer to those profits that are not distributed back to the shareholders as dividends but rather are retained for a specific purpose which may include reinvesting the money back, debt payments, purchase of assets and so on. It also refers to the amount of profit remaining after dividends has been paid to shareholders. Retained earnings does not necessarily mean that there was surplus cash in an accounting year. It only identifies for what purpose is the product made been used for. In this case, since the managers decided to reinvest their profits the following year it is called retained earnings.
