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tatuchka [14]
3 years ago
8

A company recorded 2 days of accrued salaries of $2,150 for its employees on January 31. On February 9, it paid its employees $8

,500 for these accrued salaries and for other salaries earned through February 9. Assuming the company does not prepare reversing entries, the January 31 and February 9 journal entries are:

Business
1 answer:
Volgvan3 years ago
5 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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Relix, Inc., is a domestic corporation with the following temporary timing differences for the current year. The building deprec
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Answer:

Computation of Provision for income tax expense

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Pre tax financial income                                $4,800

Add: Non deductible business meal            $780

Less: Tax exempt interest                            -$2,375

Less: Book tax difference in depreciation  -$16,800

of building and Furniture & fixtures

Add: Accured litigation expenses                 <u>$16,000</u>

Taxable Income                                              <u>$2,405</u>

Provision for income tax Expense

Current Tax (21% of $2,405)                      $505

Deferred tax liability                                   $3,528

Deferred tax asset                                     -<u>$3,360</u>

Total Provision for income tax expense  <u>$673</u>

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Computation of book net income after tax

Particulars                                                    Amount

Book net income before taxes                   $4,800

Less: Provision for income tax expense   -<u>$673</u>

Net Income after tax                                   <u>$4,127</u>

3 0
3 years ago
Tara has found a CTSO she’s interested in joining. How can Tara become a member of the CTSO? Tara can become a member of the CTS
ICE Princess25 [194]

membership fee. should be correct

3 0
3 years ago
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ABC, Inc. a contracting business has purchased a truck costing $50,000 with a depreciable life of 5 years. Using
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Answer:

it would increase

Explanation:

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The matching concept a. determines that expenses related to revenue be reported at the same time the revenue is reported b. addr
OLga [1]

Answer:

The correct answer is letter "A": determines that expenses related to revenue be reported at the same time the revenue is reported.

Explanation:

According to the matching accounting principle, during the same accounting period, the revenues and expenditures needed to generate such revenues have to be recorded. This is part of the accrual accounting method that specifies expenses and revenue must be recorded when incurred not when cash is received.

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Answer:

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