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Debora [2.8K]
3 years ago
14

Salaries and Wages Expense appears on the _________, while Salaries and Wages Payable is a(n):a. Balance sheet; expense on the b

alance sheetb. Income statement; expense on the income statementc. Income statement; liability on the balance sheetd. Balance sheet; liability on the income statement
Business
1 answer:
emmasim [6.3K]3 years ago
6 0

Answer: income statement ; liability on the balance sheet

Explanation:

It should be noted that wages and salaries expense don't appear on the balance sheet directly. They appear in the income statement.

On the other hand, salaries and wages payable is considered to be a liability on the balance sheet. Therefore, the correct option is "income statement ; liability on the balance sheet".

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Explain the characteristics of public limited companies<br>​
sweet [91]

Explanation:

Life span

Number of shares

Financial privacy

6 0
3 years ago
What is the value of $1000 investment that loses 5% each year for eight years
nadya68 [22]

Answer:

$663.420

Explanation:

The value for the investment is the future of $1000, earning a compound interest of -5% for eight years.

The formula for compound interest is as below.

FV = PV × (1+r)^n

Fv = $1000 x ( 1 + (-5/100)^8

Fv= $1000 x (1 +(-0.05)^8

FV= $1000 x (0.95)^8

Fv=$1000x 0.6634204

Fv=$663.420

The value will be $663.42

8 0
3 years ago
Read 2 more answers
How does giving benefit both the giver and the receiver?
tangare [24]

Answer: The benefits of giving are not only reaped by the gift receivers, but also by the giver themselves in terms of their health and happiness.

Explanation: I hope that helped.

8 0
3 years ago
Andrea works as an accountant at a law firm. Her annual gross pay is $48,000. Her deductions include mortgage interest and healt
Oksana_A [137]
Andrea's asset: $48,000
Assets is cash that she owns. Other assets include: property, equipment, furniture - which are all costs that she owns.

Deductions refers to her liabilities- Andrea's liabilities/ $7,500
which costs that she owes to companies, billing and Not that she owns. Such as: mortgage, bills, bank amount loans, expenses etc

Here is what Andrea as an accountant needs to do to find the annual gross: (steps are in order)

1) she lists all of the assets costs & total the assets
As for andrea she added all her assets costs which is $48,000

2) she then lists all the liabilities costs & totals the liabilities costs
Her liabilities costs which is $7,500

3) the last step- she must subtract the assets total & liabilities total

Ex. (Assets) $48,000 - (liabilities) $7,500 = 40,500

The answer is $ 40,500 is her gross pay.

Now you are probably thinking how can that be the answer?!?

An accountant always checks :)

Here is Andreas checking process in order..

1) the answer 40,500 is her gross pay which in accounting terms it's her owner's equity because it is her amount of cash that she owns not giving it away. Think of it as a safe that her storages the money in.

2) in order to determine the total liabilities & owner's equity she must add the total liabilities + the owner's equity that we found.

Ex (total liabilities) $7,500 + $40,500 = $48,000!!
That shows that our answer is correct we retraced our steps like an accountant and found that our answer equals (in accounting terms; balances) the total assets costs.

Here is how the balance sheets looks like: Andreas balance sheet

Assets Liabilities
Cash cost Bank loan costs
Furniture cost Mortgage costs
Property cost Health Costs
Expense costs
Assets total: Liabilities total:
$48,000 $ 7,500

Owners equity (Andrea's safe) $40,500 by
(Assets - liabilities)

Total liabilities & owner's equity (total liabilities + OE (owners equity for short) = $48,000

In accounting if your total assets which is for Andrea is $48,000 equals total liabilities & OE is $48,000 then your answer is correct. In accounting assets total Must equal total liabilities & OE

Hope this helps :)
5 0
4 years ago
Arctic Coolers provides the following information relating to its cooler, Blizzard:Selling Price$60Direct materials35Direct manu
jeka94

Answer:

B. $15

Explanation:

Selling Price$60

Total Variable cost = Direct materials+Direct manufacturing labor+Variable manufacturing overhead

Total Variable cost = 35+10+4

Total Variable cost = 45

Throughput Margin = Sales price - Total Variable cost

Throughput Margin = 60-45

Throughput Margin = $15

3 0
3 years ago
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