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Paha777 [63]
3 years ago
6

Pharoah Corporation provides its officers with bonuses based on net income. For 2017, the bonuses total $384,900 and are paid on

February 15, 2018. Prepare Pharoah’s December 31, 2017, adjusting entry and the February 15, 2018, entry. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Business
1 answer:
Keith_Richards [23]3 years ago
5 0

Answer: Pharaohs journal $

Date

December 31, 2017

StaffBonusexpensesDr384,900

Accruede liability Cr384,900

Narration. Staff bonus due as at date.

February 15,2018

Accrued liability Dr 384, 900

Bank Cr. 384,900

Narration. Payment of staff bonus due

Explanation:

In line with the acrual concept of recognising expenses at the period they are due for payment. The staff bonus will be recognized as an expense to the income statement in 2017 and accrued as liability in the balance sheet if it's not paid.

The payment in 2018 will be a debit to the liability account and credit to the cash or bank account.

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1. Visit a website for a company that sells products or services online. Then go to that company's
antoniya [11.8K]

Answer:

The company being examined here is Amazon.

Their corporate website is: aboutamazon.com/

while their product sales site is amazon.com

Explanation:

The various differences are:

1. the corporate is much easier on the eyes than the product sales website

2. the corporate website contains more information on the company and its corporate activities whilst the sales website is focused on the various categories of products available for sale by the company.

3. the sales website has e-commerce functionalities, the corporate does

Cheers

4 0
3 years ago
you make a clay pot for $10 and sell it to a customer for $40. what is your economic surplus associated with the transaction?
Bess [88]

The transaction's surplus in terms of the economy $30

<h3>Which principle states that the next-best choice you must forego in order to have something is its true cost?</h3>

The idea of opportunity cost, which states that the opportunity lost as a result of a decision, determines the true cost of an economic decision, is closely tied to the principle of substitution.

<h3>What is a sunk cost, give an example, and explain why it doesn't matter when deciding what to do in the future?</h3>

Sunk costs are viewed as bygone in economic decision-making and are not taken into account when determining whether to continue an investment project. Spending $5 million to establish a plant that is expected to cost $10 million is an example of a sunk cost.

To Know more about sunk cost

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3 0
9 months ago
A new client asks you to recommend a performance appraisal method that would allow them to measure the amount of time that an em
Alla [95]

Answer:

Behavior-based appraisal

Explanation:

In Behavior-based appraisals, the employee is assessed based on what they do instead of what they produce. Their actions are assessed using a rating scale to measure specific behaviors. Behavior-based appraisals uses behavioral observation scales as opposed to practices that focus on results only. It tends to be more objective, fair and accurate, if the appraisal standards are carefully developed.

Behavior appraisals are very useful when assessing performance on quantitative tasks.

5 0
3 years ago
The Tradition Corporation is considering a change in its cash-only policy. The new terms would be net one period. The required r
tekilochka [14]

Answer: $93.86

Explanation:

The break even price simply refers to the price that's required to make a normal profit. From the information given, the break even price will be:

= [($93-$44) × 2675)/2750) + 44] × ( 1 + 2.3%)

= [$49 × 2675)/2750)+44] × (1+0.024)

= [(49 × 2675)/2750)+44] × 1.024

= [(131075/2750) + 44] × 1.024

= (47.66 + 44) × 1.024

= 91.66 × 1.024

= $93.86

Therefore, the break even price is $93.86

6 0
3 years ago
Consider the circular flow model when answering the following questions
Mekhanik [1.2K]

Answer:

a. Factor market

b. the firm

c. product market

Explanation:

a, Factory is one of the  factors of production, if it must be traded, it will be done in the market for factors of production known as the factor market.

b. Profit is a reward for one of the factors of production called entrepreneur, the entrepreneur, in the circular flow model is the firm

d. Consumer goods like coffee are available in the product market, therefore the price for coffee is determined in the product market.

8 0
3 years ago
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