Answer:
05 Dec Debit salary 650 credit bank 650
if the 30 Nov sales are paid then
Debit wages payable 260 Credit bank 260
Explanation:
to get a day's wage we take 26 /2 = 130
the five days = 130*5 = 650
The answer that best fits the blank provided above is A SUBORDINATED DEBENTURE. Subordinated debenture is also known as subordinated debt. This kind of debt that ranks just below other loans whenever the company files bankruptcy. This is what is received instead of the liquidation proceeds.
Income $42,500
Less:
Deductions <u> 0</u>
Taxable Income $42,500
Tax rate <u> x 10%</u>
Tax payable $4,250
Bear in mind that since the problem is silent, I have assumed that deductions based on marital status, exemptions, PERS or TIAA/CREF retirement contributions are all equivalent to zero (0).
Answer:
Option B. Equity Investments is debited for $372,000
Explanation:
The initial journal entry to record the equity Investment will be treated same as purchase of an asset, which means the equity Investment account will be debited with the amount paid and the cash account will be credited with an equal balance.
Dr Equity Investments (6,000 * $62 per share) $372,000
Cr Cash Account $372,000
Answer:
a. Direct Labor
b. Direct Materials
c. Factory Overhead
d. Cost of Goods Manufactured
Explanation:
Costs of Goods Manufactured Schedule records the total of manufacturing costs only. So, consider all costs related to manufacturing process for this question.
