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myrzilka [38]
3 years ago
14

Austin Company pays daily wages of $645 (Monday - Friday). Paydays are every other Friday. Prepare the Monday, January 31 adjust

ing entry, assuming that the previous payday was Friday, January 21. b. Prepare the journal entry to record the Austin Company’s payroll on Friday, February 4. c. Annual depreciation expense on the company’s fixed assets is $39,600. Prepare the adjusting entry to recognize depreciation for the month of January. d. The company’s office supplies account shows a debit balance of $3,755. A count of office supplies on hand on January 31 shows $635 worth of supplies on hand. Prepare the January 31 adjusting entry for Office Supplies.
Business
1 answer:
lys-0071 [83]3 years ago
4 0

Answer:

Explanation:

The adjusting entries are shown below:

1. Wages Expense A/c Dr $2,580 ($645 × 4 days)

         To Wages Payable A/c           $2,580

(Being wages are adjusted)

2. Depreciation expense A/c Dr $39,600

          To Accumulated depreciation        $39,600

(Being depreciation expense is adjusted)

3. Office supplies expense A/c Dr $3,120 ($3,755 - $635)

           To Office supplies A/c                        $3,120

(Being office supplies is adjusted)

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viva [34]

Answer:

1. not a competitive market

2. not a competitive market

3. competitive market

4. not a perfectly competitive market

Explanation:

To answer this question, i will first start by explaining what a competitive market is and the assumption of a perfectly competitive market as well

A competitive market is a market that has many producers and buyers of a particular product. The producers are usually in a competition to meet up with the needs of the buyers.

some assumptions of the market:

  • large sellers/producers
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a. in this question this is not a competitive market. the reason is simple. It says that there are only two providers of internet. So there are no enough producers or sellers

b. The government has limited entry into this market by giving patent to only one pharmaceutical company.

c. yes this market is competitive since there are many producers of the product and the consumers regard the products as identical or homogenous. this meets with all of the assumptions of a perfectly competitive market.

d. the product here is not homogenous or identical as this is not a perfectly competitive market since buyers would prefer to buy the coffee that tastes better and leave that of the competitors

thank!

8 0
3 years ago
Automobile dealerships have invested significant time, effort, and money in their websites. Dealerships commonly measure website
zheka24 [161]

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According to the given question, the automobile dealerships is commonly measuring the actual performance of the websites by tracking the visitor traffic, visits and also the stickiness.

The stickiness concept is also used to measure active users and also the actual amount of time per month that the users or visitors spend on the websites.  

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3 0
4 years ago
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Answer:

he made about 300

Explanation:

5 0
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The effective interest amortization method: Multiple Choice Allocates bond interest expense over the bond's life using a changin
Alex_Xolod [135]

Answer:

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