Can anyone help im stuck on this question

sabrina company recorded an adjusting entry for salaries owed to employees at the end of the year. as a result of this entry, sa

mafiozo [28]

Sabrina Company recorded an adjusting entry for salaries owed to employees at the end of the year. As a result of this entry, Sabrina Company's equity decreases and liabilities increase.

<h3>What is equity?</h3>

Equity in finance refers to ownership of assets that may be accompanied with debts or other liabilities. Liabilities are subtracted from asset value to calculate equity for accounting reasons.

<h3>What is liabilities?</h3>

A liability is an obligation that a person or business has, typically financial in nature. Over time, liabilities are resolved by the transmission of economic advantages like cash, products, or services.

To learn more about liabilities visit:

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4 0

1 year ago

Amortization Expense For each of the following unrelated situations, calculate the annual amortization expense and prepare a jou

Eduardwww [97]

Answer:

A. Dr Amortization expense $43,750

Cr Patents $43,750

B. Dr Amortization expense $5,230

Cr Patents $5,230

C. Dr Amortization expense $14,000

Cr Franchises $14,000

Explanation:

Preparation of Journal entries

A. Dr Amortization expense $43,750

($350,000÷8 years = $43,750)

Cr Patents $43,750

(To record paten Amortization expense)

B. Dr Amortization expense $5,230

($52,300÷10 years = $5,230)

Cr Patents $5,230

(To record patent Amortization expense)

C. Dr Amortization expense $14,000

($70,000÷5 years = $14,000)

Cr Franchises $14,000

(To record Franchises Amortization expense)

8 0

4 years ago

In a closed-fact problem, the main goal of tax research is to: Group of answer choices Determine several alternative courses of

Anettt [7]

In a closed-fact problem, the main goal of tax research is to: find support for an action the taxpayer has already taken.

Explanation:

When filing a tax return, many people are medically supported. Strong tax research skills are even greater because of their complexity and application in tax law. The purpose of this chapter is to provide information and advice on tax compliance analysis as well as tax planning. In addition, the technique of tax analysis is quite similar to accounting and auditing.

The aim of tax research is to increase the profit or gains of the taxpayer. The aim is not to generate the minimum tax liability potential. Customers should determine the accuracy of tax returns or try to minimize possible IRS conflicts.

This difference of perspective — to optimize after-tax gains instead of reducing taxation — is particularly important when one considers that many tax planning techniques require such pre-tax income transfers, either in the form of additional expenditures, income avoidance or both.

3 0

3 years ago

Read the statements and determine whether or not each character is using marginal analysis to make economic decisions. Answers c

Vanyuwa [196]

Answer:

Ava, Miranda and Anna are using marginal analysis, while D.A and Andrea are not.

Explanation:

Let's look at the situation of each character:

Ava decides whether or not she should spend an additional hour per day welding burn barrels by looking at how much she can produce in that hour.

Marginal analysis focuses on the costs and benefits of producing an additional unit of output or using an additional unit of input. In this case, Ava wants to determine how her productivity would be modified if an additional unit of input (time) is added.

Miranda is pondering whether adding one more painting to her art installation will make the audience's experience better or worse.

She is using marginal analysis to determine whether the costs of producing an additional unit of output (one more painting on display) would be offset by the benefits, which are represented by the audience's satisfaction.

D.A. calculates how many pounds of brisket he needs to eat on a daily basis to survive by looking at the total number of calories he needs.

Andrea decides how much fabric she needs for her new costume-making business this month by using the total she used last month.

Neither D.A nor Andrea are using marginal analysis. If so, they would be interested to know what the effect of using an additional unit of input (brisket or fabric) would be to achieve their purposes. Instead, they are simply asking about the total amount of input needed to generate a certain output.

Anna decides whether she should devote another day to studying for her music theory exam or if she can instead spend it practicing the viola.

Anna uses marginal analysis because she wants to determine how her test performance would change, whether or not she invests an additional unit of time in studying.

6 0

4 years ago

A consumer magazine has contacted a simple random sample of 58 owners of a certain model of automobile and asked each owner how

Ksju [112]

Answer:

(4.439 ; 5.361)

Explanation:

Given :

Confidence level = 90%

α = (1 - 0.9) / 2 = 0.05

Sample size (n) = 58

Degree of freedom (df) = n - 1 = 58 - 1 = 57

Mean number of defect (m) = 4.9

Standard deviation (s) = 2.1

m ± t0.05, 57 * (s /√n)

t0.05, 57 = 1.672029 (t value calculator)

4.9 ± 1.672 * (2.1 /√58)

4.9 ± 0.4610431

4.9 - 0.4610431 ; 4.9 + 0.4610431

(4.4389569 ; 5.3610431)

(4.439 ; 5.361)

8 0

3 years ago