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maw [93]
3 years ago
7

FTYZ Transport Inc. was supposed to pay wages amounting to $1,500 in March, which was the last month of its accounting period. H

owever, Leeds Inc. failed to make the payment before the accounting period. What will be the adjusting journal entry passed by the accountant?
Business
1 answer:
leva [86]3 years ago
7 0

Answer: Wages account debit

Wages payable account credit

Explanation:

Sdjusting entries are simply referred to as the journal entries that are made when the accounting period ends such that there is allocation of the income and the expenditure incurred by the economic agent to the period in which the income and the expenditure occurred.

In this case, the adjusting journal entry passed by the accountant will be to debit the wages account by $1500 and then credit the wages payable account by $1500.

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Suppose you have the following information about a fictitious economy. Assume there are no taxes in this economy. Disposable Inc
djyliett [7]

The equilibrium level of consumption is $28500.

The equilibrium level of consumption is at the point where the disposable income is equal to the consumption.

If this was properly placed in a tabular form, we would clearly see that when the disposable income was at $28500, the consumption in dollars was also at the same price level.

Given this condition, we can conclude in economics that consumption is at its level of equilibrium.

Read more on brainly.com/question/14670879?referrer=searchResults

4 0
2 years ago
What type of supporting schedule is designed to show detailed tests performed, does nottie into the general ledger, but must sta
lianna [129]

Answer:

C) examination of supporting documents

Explanation:

<em>Examination of supporting documents</em>, is a  type of supporting schedule, which is designed to show detailed tests performed, does not tie into the general ledger, but must state a positive or negative conclusion about the objective of the test.

8 0
3 years ago
The school board is trying to evaluate a new math program introduced to second-graders in five elementary schools across the cou
Komok [63]

Answer:

a) The chart tell us that all the point are between the upper and lower control limits, so the process is under control.

b) Since the process under control, the number of defects are controled and we know with a 99.3 % of certainty the average of them, so the program is  effective.

Explanation:

In order to draw a C chart we should calculate the  average test errors and the control limits of the chart

The average test errors is = (52+27+35+44+55)/5= 42.6 = c

This will be the middle line in the chart.

Then, the Upper and lower control limits are:

LCL=  c-m *sqr(c) and UCL= c+ m *sqr(c)

In this case, since we are told to contain the 99,7% of random variation, this means that we are working with a 6 sigma.

So m will be 3 (3 sigma) for the upper limit control and 3 (3 sigma) for the lower limit control:

LCL= 42.6 -3*sqr(42,6) = 23.0

UCL= 42.6+3*sqr(42,6) = 62.2

(the graphic is attached)

As we can see, al the test error values are between the control limits, so the program is undercontrol

Download xlsx
6 0
3 years ago
company pays each of its workers on a per diem basis. if another worker is​ hired, fixed costs will increase while variable cost
JulijaS [17]

A company pays each of its workers on a per diem basis. If another worker is​ hired,

variable costs will increase while

fixed cost will remain the same.

<h3>What is the difference between fixed and variable?</h3>
  • The amount of product generated determines the fluctuation in variable costs. Raw materials, labor, and commissions are examples of variable expenses. Regardless of the level of production, fixed expenses stay constant. Lease and rental payments, insurance, and interest payments are fixed costs.
  • Costs that change as the volume increases are known as variable costs. Raw materials, piece-rate labor, production supplies, commissions, shipping expenses, packing costs, and credit card fees are a few examples of variable costs. The "Cost of Goods Sold" is the name given to the variable costs of production in some accounting statements.
  • Some examples of fixed costs are rent, lease payments, salary, insurance, property taxes, interest fees, depreciation, and possibly certain utilities. For instance, a new business owner would probably start off with fixed costs like rent and managerial wages.
  • Property taxes, rent, salary, and the cost of benefits for non-sales and management staff are examples of fixed costs. They are one of the three categories of expenses that most companies face. Costs that are changeable or semi-variable are the others.

A company pays each of its workers on a per diem basis. If another worker is​ hired,

variable costs will increase while

fixed cost will remain the same.

To learn more about fixed cost, refer to:

brainly.com/question/3636923

#SPJ4

5 0
1 year ago
Microsoft receives a cash payment in advance for cloud services is an example of
Dahasolnce [82]
1. Unearned Revenue
2. Accrued Expense
8 0
2 years ago
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