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Zarrin [17]
3 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:
dsp733 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.  

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Explanation:

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Answer:

C. Job Satisfaction

Explanation:

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3 years ago
Read 2 more answers
Vacation Destinations offers its employees the option of contributing up to 7% of their salaries to a voluntary retirement plan,
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Answer:

Follows are the solution to the given points:

Explanation:

For question 1:

Exp on the Debit Salary = $ 1,500,000

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Credit  payable tax on FICA= $114,750

Credit  payable salary (Balance) $947,250

For question 2:

Exp = $100,500 for Debit Wages

Cr.=   $31,500 (Surgical Insurance) Payable accounts

Cr. =  $6,000 in insurance accounts payable

Cr. = $63,000  Payable Accounts (Pension plan) 

For question 3:

EXP= $207,750  for Debit Payroll Tax

Cr. =  $114,750 for FICA payable tax

Cr.  =$93000 for Federal and State (Unemployment tax)

FICA TAX = \$1500,000 \times  \frac{(6.2+1.45)}{100} = \$ 114,750\\

Tax on state or federal unemployment =\$ 1500,000 \times  6.2 \% = \$ 93,000\\

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3 years ago
During the gdl program, the dps can suspend or revoke your license for __________ or more moving violations in twelve months.
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Cost flow is in the order in which costs were incurred when using
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Answers : last in, first out

Explanation:

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