All categories

3 years ago

Required information

Business

1 answer:

DaniilM [7]3 years ago

5 0

Answer:

Dr Employee benefits expenses 32,000

Cr Employee medical insurance payable 12,000

Cr Employee retirement program payable 20,000

Explanation:

Preparation for the December 31 entry for Marr

Dr Employee benefits expenses 32,000

(20,000+12,000)

Cr Employee medical insurance payable 12,000

Cr Employee retirement program payable 20,000

($200,000*10%)

(Being to record employee benefits expenses)

You might be interested in

Q 4.13: salaries and wages expense should have been accrued on december 31st, but the entry was not made. the result of this ove

Shkiper50 [21]

The answer to the given situation is "the result of this oversight is that the liabilities are understated".
We can define understated as if someone say to you that your account is understated, it means that either the amount is incorrect or the amount is too small or it is less than the actual or true amount. In the given case the entry was not made due the understatement of liabilities.

6 0

3 years ago

Which of the following four companies will have the lowest carrying value on their bonds if they decide to redeem their bonds be

Dennis_Churaev [7]

Answer:

C) Company 1 sold their bonds at 94 and redeemed them at 106.

Explanation:

The face value of bond issued in 4 companies are same, then it's clearly that the company 1 will have the lowest carrying value on their bonds because they sold at lowest price but buy back (redeem) at highest prices.

6 0

3 years ago

Review the transactions listed below for thyme advertising company, and classify each transaction as either an operating activit

soldi70 [24.7K]

Answers:

1. Financing Activity

2. Operating Activity

3. Operating Activity

4. Non Cash Activity

5. Financing Activity

6. Non Cash Activity

7. Operating Activity

8. Investing Activity

9. Non Cash Activity

What to remember:

Operating activities are the kinds of activities the company accomplishes to generate profits. This includes cash out flows and inflows.

Investing activities contain the purchase or sale of long-lived assets used in operating the business, or the purchase or sale of investment securities (stocks and bonds of companies other than Thyme).

Financing activities are borrowing money, issuing shares of stock, and paying dividends.

5 0

3 years ago

Which of the following are true if you pay only the minimum amount each month towards your credit card bill?

Stels [109]

You will have a higher interest and will be in debt for longer

6 0

3 years ago

Prepare the necessary general journal entries for the month of October for Crane Retail for each situation given below. Crane us

harkovskaia [24]

The necessary journal entries for October month are attached below in the image :

<h3>What do you mean by journal entries?</h3>

All company transactions are documented in journal entries. Generally speaking, a transaction is any financial activity that has an effect on a business.

All the necessary journal entries are attached below:

Learn more about journal entries:

brainly.com/question/13483463

#SPJ1

3 0

2 years ago