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2 years ago

The sum of the explicit and implicit costs incurred in the production process is called

Business

1 answer:

agasfer [191]2 years ago

6 0

The sum of the explicit and implicit costs incurred in the production process is called total cost

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Zar company paid employee wages on and through friday,january,26 and the next playroll will be paid in february. Emploees work 5

garik1379 [7]

Answer:

Debit to Salaries Expense $2,700; Credit to Salaries Payable $2,700

Explanation:

In accounting, we have to recognize all expenses even though we haven't paid it yet. This is one of those instances.

The employees have worked for 3 days at the end of January but will not receive their payment on that day. That equates to $2,700 of salaries accrued at the end of January.

Accrued Expenses are recorded as payables, in this problem it's "Salaries Payable".

So to complete the adjusting journal entry:

(Debit) Salaries Expense $2,700

(Credit) Salaries Payable $2,700

3 0

3 years ago

Data from the financial statements of Dils Brothers Co. and J. Cox, Inc. are presented below (in millions): Dils Brothers Co. J.

9966 [12]

Answer:

0.64

Explanation:

Debts to total asset ratio = Total liabilities / total assets

For J.Cox Inc 2016; Debts to total asset ratio = $47,422 / 73,744

Debts to total asset ratio = 0.64306

Debts to total asset ratio = 0.64

2016 debt-to-total-assets ratio for J. Cox, Inc. is 0.64

3 0

3 years ago

Which of the following would be considered an example of rent seeking? A. lobbyists securing spending policies that benefit thei

maks197457 [2]

I think the correct answer would be politicians trading favors that do not benefit the mass populace of voters. Rent seeking is a practice that involves the use of public policy in order to get benefit from it like increasing their benefits in the expense of other. This oftentimes done by a number of politicians.

4 0

3 years ago

Lacey Company prepared the tabulation below at December 31, 2022. Net Income $310,000

valentinak56 [21]

Answer:

Net cash provided by operating activities is $325,000.

Explanation:

Lacey Company

Cash Flow Statement (Operating Activities Only)

December 31, 2022.

Details Amount ($)

Net Income 310,000

Depreciation expense 45,000

Increase in accounts receivable (55,000)

Decrease in inventory 12,000

Increase in accounts payable 6,000

Increase in prepaid expenses (4,000)

Decrease in income taxes payable 3,500

Gain on disposal of land 7,500

Net cash provided (used) by operating activities  325,000 

5 0

3 years ago

Consider the following list of accounts: Cash Retained Earnings Service Revenue Utilities Expense Salaries Expense Accounts Rece

MAVERICK [17]

Answer:

Cash, account receivable, equipment, utilities expenses, salaries expense

Explanation:

Normally, the asset and expense accounts have debit balances while the liabilities, equity, revenue and other income accounts have credit balances.

In the given list of account:

Cash, account receivable, equipment belong to asset accounts, therefore will have normal debit balance.

Utilities expenses, salaries expense belong to expense accounts, therefore will have normal debit balance.

Remaining items in a given list will have normal credit balance.

4 0

3 years ago