1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Zarrin [17]
2 years ago
13

The bookkeeper for Wildhorse Co. asks you to record the following accrual adjustments at December 31 in the tabular summary that

follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
(a) Interest on notes payable of $350 is accrued.
(b) Services performed but unbilled totals $1,850.
(c) Salaries of $700 earned by employees have not been recorded.
Assets Liabilities Stockholders' Equity Accounts_ Interest Payable +Payable Sal./Wages ^ Com Stock Adjustment Receivable + Rev. Exp Div

Business
1 answer:
dsp732 years ago
6 0

Answer:

The attached file has the answer required.

Interest on notes payable will be a liability as it is accrued. It will still be accounted from the expenses however.

Services is a revenue stream that was not recorded so it will go to Accounts Receivable and Revenue.

Salaries unpaid will become a liability and an expense in the income statement.  

You might be interested in
Which PESTEL factors are the most salient for the electric vehicle segment of the car industry? Which PESTEL factors are the mos
pantera1 [17]

Answer:

PESTEL factors that are most salient for the electric vehicle segment of the car industry are economical, technological, and ecological.

PESTEL factors that are most salient for the battery industry are technological, social and economic

Explanation:

PESTEL factors that are most salient for the electric vehicle segment of the car industry are economical, technological, and ecological.

PESTEL factors that are most salient for the battery industry are technological, social and economic.

Electric cars would be economic as compared to gas and other forms of energy used to run a car or any other vehicle.

8 0
3 years ago
Shirley qualifies for a $12,000 auto loan and chooses a 36-month loan term versus a 60-month loan term. How will the shorter ter
Lyrx [107]
The right answer for the question that is being asked and shown above is that: "B. Shirley's car will appreciate in value." Shirley qualifies for a $12,000 auto loan and chooses a 36-month loan term versus a 60-month loan term. The shorter term of the loan affect Shirley is that her<span> car will appreciate in value.</span>
6 0
3 years ago
Read 2 more answers
Turner Company owns 10% of the outstanding stock of ICA Company. During the current year, ICA paid a $5 million cash dividend on
lozanna [386]

Answer:

Turnover Company

The net income of Turnover will increase by $500,000.

Explanation:

a) Data and Calculations:

Turner Company's shareholding in ICA = 10%

ICA pays dividend totalling $5 million

Turner's share of dividend = $500,000 ($5 million * 10%)

b) This is not based on equity accounting.  Instead, the investment will be reported at fair value.  Equity accounting method will be applied in recording Turner's investments in ICA Company, if the ownership interest is valued at 20–50% of the stock.

c) The $500,000 dividends received from ICA Company will be reported in the Income Statement of Turner Company as other income, unless Turner ordinarily buys and sells stocks.  The 10% shareholding does not amount to significant control or influence for the accounts of Turner and ICA to be consolidated.

6 0
3 years ago
What of the following is not a characteristic of a weak economy?
Anna11 [10]
Prises fo thimgs arnt very high because the stores arnt as desprite for money
6 0
3 years ago
Today, money comes in many different forms. When you go to purchase something at a store, you pay money in the form of cash, a c
seropon [69]

Answer:

The Tulip Mania in Holland went to a economic collapse in the value of Tulip bulbs in 1637. Stating this, even though, it didn't affect the Dutch economy at the time, since the Dutch Republic was the leading economy in the 17th century. Stating this, if Holland was did not possess financial stability, the following potential problems might occur:

1. The entire Dutch Republic might go into a depression, making every form of  consumable and necessities inflated and money invaluable.

2. Might lead to a higher rate of unemployment, consequently resulting in other harmful factors like death.

3. Lastly, stating all of this, it would push back development for the Dutch and slow down progression.

Explanation:

I tried my best :)

7 0
3 years ago
Other questions:
  • On March 1, 2017, Carla Vista Co. acquired real estate, on which it planned to construct a small office building, by paying $84,
    13·1 answer
  • Max has been a project manager for 10 years and is considered one of the best in his department of well qualified IS professiona
    12·2 answers
  • A Cajun trinity, used in many Louisiana Creole and Cajun dishes such as gumbo, contains A. onion, celery, and parsnip. B. onion,
    6·1 answer
  • Which of the following models is best suited to decide when given a set of destinations, what is the shortest route that allows
    5·1 answer
  • What are the similarities and differences between balancing a city budget and balancing a personal budget?
    6·2 answers
  • If a student identifies himself as having an outgoing (extraverted) personality, strong
    14·1 answer
  • Suppose a student graduates from college with a civil engineering degree and is now employed to grade papers,
    5·1 answer
  • Office supplies at the beginning of 2021 total $980. On August 15, Wolverine purchases an additional $3,200 of office supplies,
    9·1 answer
  • Karen Moore is a new employee with Cars R Us. One of her first responsibilities as the new HR Director is to create an incentive
    9·1 answer
  • the gardener's opportunity cost of a bushel of beans multiplied by her opportunity cost of a bushel of corn is
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!