Answer:
Economic ; Economic
Explanation:
A decision will be considered as 'economic reason' if that decision is based on monetary benefit. This is what Maria's intention when working at JCPenny. She just wants to get the highest salary as possible.
Joe on the other hand, works for patron.
Meaning that He works there seeking for connections. Even though he is not aiming directly for money/salary, getting connections actually a monetary reasons since it often lead to more career/business opportunities.
<h2>Reducing the "Entertainment " will hold good for the given scenario</h2>
Explanation:
There things which a man needs like food, water, shelter, etc.
Savings
: This aspect is necessary for helping us in crucial point. It can serve as an another hand on demand.
Groceries
: This is most important component of every men and women for living. So it cannot be reduced.
Utilities
: This is equally important.
Entertainment
: This shows luxurious aspect and not a mandatory one. So the amount spent in this category should be reduced.
Answer:
a. Income Tax Expense (Dr.) $298,000
Deferred Tax (Dr.) $30,000
Income Tax Payable (Cr.) $328,000
Explanation:
b. Income Tax expense (Dr.) $30,000
Allowance to reduce deferred tax value to NRV (Cr.) $30,000
Income tax payable is calculated based on tax rate of 40%.
$820,000 * 40% = $382,000
Answer:
The correct answer is letter "B": Internal control over receivables is good.
Explanation:
Only in the case the internal control of an organization is well-established enough so those account receivables (AR) are paid according to the terms agreed between the organization and its debtors, auditors could consider the balance of the account receivables at a provisional date.
Answer:
Credit to Interest Payable of $2,000
Explanation:
Preparation of the adjusting journal entry on December 31, 2018 for Sandra Company's year-end
In a situation where the interest amount has already been accrued but has not yet been paid we going to debit the Interest Expense with amount of $2,000 and credit Interest Payable with the amount of $2,000 which means that
the interest expense amount that has accrued for both the month of November and December 2018 will be calculated as :
Accrued Interest Expense=$200,000 × 0.06 × 2 / 12
Accrued Interest Expense= $2,000
Therefore the the adjusting journal entry on December 31, 2018, Sandra Company's year-end, would include a: CREDIT to Interest Payable of $2,000
