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3 years ago

An expense that has been incurred but not yet paid is called a(n) ________.

1 answer:

3 0

An expense that has been incurred but not yet paid is called an accrued expense.
An expense is categorized into many types according their property, like discount expense, depreciation expense, prepaid expense etc
Salaries payable and interest payable are the examples of Accrued expense, salaries payable are for one accounting period, they are not paid until the next.

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If a material event is either unusual in nature or an infrequent occurrence—such as a one-time charge resulting from a major res

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Answer:

False

Explanation:

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3 years ago

Frank is interested in rewriting the vision statement for his antique shops, and he wants his employees and his business to grow

vivado [14]

Answer: Option A True

Explanation:

As an entrepreneur Frank has made the right decision of rewriting the vision statement for his antique shop. A business can succeed only when it has a strong vision statement. When there is a proper vision statement the entire business works for that purpose.

The vision statement made should be linked with the goals of employees. This will create a positive and inspiring place for the employees to work. Even the small antique shop can expand its business activities and attain growth through proper vision statement.

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3 years ago

Scarbrough Corp. factored $600,000 of accounts receivable to Duff Corp. on October 1, year 2. Control was surrendered by Scarbro

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Answer:

Scarbrough will receive and record cash of $538,685

The journal entry to record this transaction would be:

Debit Credit

Cash $2,900,300

Interest Expense $89,700

Notes Payable $2,990,000

Debit Cash for $2900300, debit Interest Expense for $89700, and credit Notes Payable for $2990000

Explanation:

In order to calculate the amount Scarbrough will receive and record cash we would have to make the following calculation:

Scarbrough will receive and record cash=Receivables-Amount of the hold back-Withheld as fee income-Less: Withheld as interest expense

Receivables= $600,000

Amount of the hold back=$600,000 x 5%=$30,000

Withheld as fee income=$600,000 x 3%=$18,000

Withheld as interest expense=$600,000 × 15% × 54/365=$13,315

Therefore, Scarbrough will receive and record cash=$600,000- $30,000-$18,000-$13,315=$538,685

Scarbrough will receive and record cash of $538,685

According to the given data to journal entry to record this transaction would be the following:

Debit Credit

Cash $2,900,300

Interest Expense $89,700

Notes Payable $2,990,000

Interest Expense=$2,990,000 x 3%=$89,700

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3 years ago

Joel was recently hired as a police officer in his city's police department. As part of employee training, his supervisor trains

Assoli18 [71]

Answer:

On-the job training.

Explanation:

This is explained to be normal emphasized training that working staffs are seen to undergo; especially newly employed staffs, which is a direct training while doing the actual job they are been hired or paid for. A a good and reasonable trainee in this aspect is seen to be appreciative when given this chance to develop knowledge and skills without ever leaving work. In this employee training format, employees are seen to receive your workplace needs, norms, and culture and familiarize with them. Internal job training and employee development bring a special plus. This is why in the scenario above, Joel's supervisor trains him off-site on the use of firearms.

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3 years ago

Select all that apply.

uysha [10]

Set goals, develop team structure, create a unified commitment.

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3 years ago

An expense that has been incurred but not yet paid is called​ a(n) ________.

An expense that has been incurred but not yet paid is called a(n) ________.