Answer:
c.Insurance expense would be debited for $300.
Explanation:
Provided that
12 month insurance policy purchased on Dec 1 = $3,600
So, the adjusting entry on Dec 31 would be
Insurance expense A/c Dr $300
To Prepaid Insurance $300
(Being insurance expense is recorded)
The computation is
= $3,600 ÷ 12 months
= 300
As we have to compute for 1 month so we recorded $300 insurance expense
Answer:
21,000 units
Explanation:
The computation of the number of units started during November in the department is shown below:-
Number of units started during November in the department = units completed and transferred out + units in the ending work in process inventory - units in the Beginning work in process inventory
= 22,000 + 4,000 - 5,000
= 21,000 units
Therefore we have applied the above formula.
Answer:
Salaries and wages payable...................Dr $20,000
Salaries and wages expense $20,000
Explanation:
As per accrual system, an expense is incurred when it is accrued irrespective of when it is paid. So, $20,000 was accrued in December 31, salary and wages expenses would have been debited then amounting to $20,000.
In order to rectify the mistake of double counting, the entry passed by the accountant would be reversed to nullify the effect.
Adjusting Journal entry:
Particulars Debit Credit
Salaries and wages payable $20,000
Salaries and wages expense $20,000
(Being double counting of salaries and
wages expense rectified)
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Answer:
b. Decrease his inputs
Explanation:
The Equity Theory explains the influence that the perception of fair treatment has on the motivation of individuals. Or, from another point of view, in its demotivation.
People tend to compare ourselves to others. With other people's situations, inside and outside work. Thus, we form a perception about what is fair or unfair.
If the result of the comparison is understood as fair, people are more likely to feel motivated. On the contrary, when they perceive that they are treated unfairly, tension and demotivation appear.
In short, when compared to others, people want to be treated fairly for their contributions to the organization. And beliefs regarding what is fair and unfair can affect their motivation, attitudes and, therefore, their behaviors at work.
