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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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Assume that Wizard Internet is operating as a general partnership, what is Caleb's personal tort liability for Anna's actions wi
shutvik [7]

Answer: The correct answer is "D. Caleb is personally jointly and severally liable along with Anna.".

Explanation: Caleb is personally jointly and severally liable along with Anna. When there is joint and several liability, a person has the right to claim payment of a debt or compensation for damage to any of those responsible or even all of them, without anyone being able to excuse themselves to evade their responsibility.

6 0
3 years ago
Assume that an adjusting entry was made on November 30, 2018 for earned, but unpaid employee salaries of $260 which represented
marishachu [46]

Answer:

05 Dec Debit salary  650 credit bank 650

if the 30 Nov sales are paid then

Debit wages payable 260 Credit bank 260

Explanation:

to get a day's wage we take 26 /2 = 130

the five days = 130*5 = 650

5 0
4 years ago
In determining the price for his company's new photo printer, Raymond is assessing the total cost of owning his printer as compa
yulyashka [42]

Answer:

Cost of ownership

Explanation:

The cost ownership includes other elements of cost associated with owning a product eg operating cost.

A common example that comes to mind is the ownership of a car, analysing the total cost of ownership would include cost of fueling and maintaining the car as compared to buying a new brand of car.

It takes someone with foresight to see the bigger picture and look at what the product's real value and cost is over time.

5 0
3 years ago
Read 2 more answers
According to its 2013 10-K, how many more shares can Colgate repurchase in the future under it share repurchase program?
kirza4 [7]

Answer:

The correct answer is -25,937,562

Explanation:

25,937,562 additional offers can be repurchased by Colgate later on under its offer repurchase program as indicated by its 2013 10-K. Likewise, 6,760,592 offers were repurchased by the organization.  

31,905,271 offers and 30,425,271 offers were as far as possible for repurchase in the classification of Maximum Number of Shares that may yet be bought under the plans or projects however the most recent cutoff for Maximum Number of Shares that may yet be bought under the plans or projects is 25,937,562 Shares.

Thus, the correct answer is -25,937,562

7 0
3 years ago
Norred Corporation has provided the following information: Cost per Unit Direct materials Direct labor Variable manufacturing ov
mariarad [96]

Answer:

$134,300

Explanation:

Total indirect manufacturing cost = (Unit Produced * Variable manufactured overhead) + Fixed manufacturing overhead

= (8,000 * 1.60) + 121,500

=12,800 + 121,150

=$134,300

Hencc, the total amount of indirect manufacturing cost is $134,300

4 0
3 years ago
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