Answer:
Explanation:
The question says to complete the necessary adjusting entry
What is an adjusting entry:
An adjusting entry represent an accounting entry passed usually at the end of the accounting year to ensure that accounts following the matching principle. An adjusting entry can further be passed to calculate and bring in respective account balances at the end of the period.
Therefore, the required adjusting entry is as follows:
Date Particulars Debit Credit
Dec 30 Salaries expense $4,000
Salaries payable a/c $4,000
being the record of salaries accrued at the end of the year
Note: Since a day is $800 and there are 5 days, the accrual is $800 x 5 = $4,000
Answer:
a) Remaining margin in the account = (1000*40 *0.5)- [(50-40)*1000] -(1000*2)=$8000
b) Margin rate = equity/ liability = 8000/50000=0.16 = 16%
Old Economy Traders will receive a margin call
Explanation:
A checking account is important to keep the money for easy withdrawals through usually an Automated Teller Machine, or ATM
<h3>What is Accounting?</h3>
This refers to the record-keeping of financial records with the aim of keeping track of the finances of a business or corporation.
Please note that your question is incomplete so I gave you a general overview to help you get a better understanding of the concept.
Read more about accounting here:
brainly.com/question/26243955
Answer:
Chiquita makes an economic profit of $250,000.
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