The purpose is to accurately account for the accrued wages and reflect the expense incurred, ensuring proper financial reporting and recording the payment made to the employees.
What is the purpose of preparing the year-end adjusting entry for wages expense and recording the payment of wages on January 4?The given exercise involves adjusting and paying accrued wages for Pablo Management's employees. The eight employees worked on December 31 and January 2, 3, and 4, with January 1 being an unpaid holiday. The task requires preparing the year-end adjusting entry for wages expense and recording the payment of wages on January 4.
To accurately record the payment of wages, an entry should be made in the general journal. The date of the entry is January 4.
The debit side should include the Wages Payable account for the accrued wages owed to the employees, and the Wages Expense account to reflect the expense incurred. On the credit side, the Cash account should be credited for the amount paid to the employees.
By making this entry, the company properly recognizes the accrued wages as an expense in the appropriate accounting period and records the payment made to the employees. This ensures accurate financial reporting and reflects the company's financial position and obligations.
Learn more about wages
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Which one of the following businesses would you classify as being in the secondary sector of industry?
A) Oil exploration company
B) Family run farm business
C) Taxi operating business
D) Shoe manufacturer
Answer:
shoe manufacturer
Explanation:
Should voting be mandatory?
Answer: Yes
Explanation:
Answer:
no
Explanation:
because no
Which of the following should which of the following should be of concern when a company considers expanding into a new International market?
the country's legal system
the country's political stability
the education level of the workforce
all of the above
Which of the following is not one of the factors in determining a pension's final value?
A) Years of serivce
B) Level of education
C) Your age at retirement
D) Your highest salary/pay
Answer:
B
Explanation:
WILL GIVE BRAINLIEST
If loans and credit card debt are taking up most of your monthly income, which of the following is the LEAST effective first step in getting your debt under control?
A. Start a side hustle and allocate the money you make towards extra payments for your debt.
B. Take a hard look at your budget and try to cut nonessential items so you have more cash to pay down your debt.
C. Declare bankruptcy, which will eliminate all your debts and allow you to start over with a clean slate.
D. Pay extra money each month to the debt with the highest interest rate, so you'll decrease the total amount you'll spend on debt.
Answer:
a or c i fliped a coin and got A sounds like the answer rember jesus loves you
Explanation:
what is the role of doctors in our society?
What is the difference between Money
Market and Investments?
Answer:
can udo a pic so i can see
Explanation:
Why do you think economists have different belief systems/theories on economics?
Answer:The principal disagreement among economists is a matter of economic philosophy. There are two major schools of economic thought: Keynesian economics and free-market, or laissez-faire, economics.
Keynesian economists, named after John Maynard Keynes, who first formulated these ideas into an all-encompassing economic theory in the 1930s, believe that a well-functioning and flourishing economy may be created with a combination of the private sector and government help.
By government help, Keynes meant an active monetary and fiscal policy, which works to control the money supply and adjust Federal Reserve interest rates in accordance with changing economic conditions.
By contrast, the free-market economists advocate a government "hands-off" policy, rejecting the theory that government intervention in the economy is beneficial. Free-market economists—and there are many distinguished advocates of this theory, including Nobel Memorial Prize winner Milton Friedman—prefer to let the marketplace sort out any economic problems. That would mean no government bailouts, no government subsidies of business, no government spending explicitly designed to stimulate the economy, and no other efforts by the government to help what the economists believe is the ability of a free economy to regulate itself.
Explanation:
MULTIPLE CHOICE: Scar stole Mufasa's debit card and used it to buy a vacation package to the Savannah. Which account would the money come out of? (choices are savings, checking, certificate of deposit, and online checking)
Answer:
Savings.
It cannot come from certificate of deposit or online checking, since it is a debit card.
If 135 TV's are sold and cost $275 to produce and is priced at $250, what is the profit/loss?
Answer:
$25
Explanation:
The production cost is $275.
The selling price is $250
The loss/profit will be: Selling price minus cost price
=$250 - $275
= -$25
A loss of $25.
If this is the cost for all the 135 TVs, then the loss is only $25.
N:B
If the costs are for one TV, then the loss will be $25 x 135=$3,375
A _____ is an estimation about a future situation based on the evaluation of facts.
1. projection
2. fact
3. salary
4. growth
Answer:
Projection
Explanation:
Answer:
Yes the correct answer is (PROJECTION)
Explanation:
Based on the W-2 provided, Social Security tax withheld for Lily was ______ of wages and Medicare tax withheld was ______ of wages.
a. 1.3%, 5.5%
b. 6.2%, 1.45%
c. 10%, 10%
d. 28%, 39.8%
Thanks for any help I can get! I don't need an explanation as to how you got the answer.
Answer:
b. 6.2%, 1.45%
Explanation:
Social security and medicare are calculated as a percentage of the gross pay. For Lily, gross pay is $14,450.
For social security, 895.90 is deducted. As a percentage of her gross pay
895.90 will be.
=895.90/ 14,450 x 100
= 0.06193771 x 100
=6.2 %
For medicare, 209.5 has been deducted. As a percentage of her gross pay, 209.5 is
=209.5/ 14,450 x 100
=0.01449827 x 100
=1.45%
The social security tax is the tax amount that is acquired from the earned income to fund the benefits of social security. It is the major part of the salary that carries the benefits for the person who earns it and contributes some part for the benefits of the government.
The correct answer is b. 6.2%, 1.45%
Social security and medicare are calculated as a percentage of the gross pay. For Lily, gross pay is $14,450.
For social security, 895.90 is deducted. As a percentage of her gross pay
895.90 will be.
[tex]=\frac{895.90}{14,450}\times 100= 0.06193771 \times 100=6.2 \%[/tex]
For medicare, 209.5 has been deducted. As a percentage of her gross pay, 209.5 is
[tex]=\frac{209.5}{14,450} \times 100=0.01449827 \times 100=1.45\%[/tex]
To know more about the social security tax, refer to the link below:
https://brainly.com/question/14507603
which of the following is a workplace trend?
A - decreased outsourcing
B - decreased attention to diversity
C- increased use of manual labor
D - increased technology literacy
Answer:
increased use of manual labor
Explanation:
Advancement in technology has resulted in machines taking over manual jobs. A few decades ago, manual work was done by human beings exclusively. Industries hired many laborers to assist in many aspects of the business. Today, machines and robots are deployed in different sectors of the economy.
The current trend is the workplace is the use of modern technology. Computers, machines, and robots are gradually replacing people, mostly unskilled and manual laborers.
he U.S. government's ability to pay for Social Security in the near future is a problem because:
Answer:
Our country's notional debt
Explanation:
Which is used to trace a check back to the account on which it was written?
Group of answer choices
a valid date
an endorsement
a bank route number
a signature
Answer:
a bank route number
Explanation:
The routing number is among the three numbers found at the bottom of a check. The routing number is at the bottom left. It serves as an ' identity ' for your bank. The routing number enables other banks to contact your bank and collect funds from your account every time you write a check.
A routing number is a unique number for every banking institution. The number proves that the bank is a recognized financial institution with an account with the Federal Reserve.
If you have an orientation where you are completing training exercises on a computer, it is probably a ____.
A new hire orientation
B interactive orientation
C reorientation
D mentorship
Answer: new hire orientation
Explanation:
New employee orientation is used in order to welcome newly employed workers to the organization and this is done in order to integrate the new workers into the system, train them, and make them feel welcomed and part of the organization. .
This helps to boost the confidence of the employees, leads to increase in the retention of employees and also boost employees morale.
Interaction orientation simply means the interaction that takes place between companies and their customers and this is done in order to improve the relationship with customers and achieve organizational goals.
Mentorship simply means having a mentor to guide an individual. Reorientation simply means to change a particular focus or mindset of certain people.
Based on the explanation, the answer is new hire orientation.
Answer:
A
Explanation:
Think of a substantial product you regularly purchase, such as video games or jeans. If supply is high and
demand is low, what happens to the cost? How might that affect someone's income? Likewise, if supply is low
and demand is high, what happens to the product's cost? How might that affect someone's income?
Answer:
See below
Explanation:
1. When the supply is high, and demand is low, an item's cost will probably come down. High supply with low demand creates a surplus in the market. Seller will offer the lowest prices possible to woe buyers.
When an item's prices go down, buyers will spend less money buying the product. The buyer saves some money, which is equivalent to having more income than before.
2. With a low supply but high demand, prices tend to go up. There will be great competition for the few goods from the many buyers. As a result, suppliers will hike prices and make more profits.
An increase in prices forces buyers to spend more money to buy the same commodities. Their disposable income decrease, which is the same as having a reduced income
if i post by business page will you guys follow it ?
Answer:
Yassss queeeennnn
Explanation:
jdnskakana
Explanation:
Yes i will definately follow it
In what circumstance would a property insurance claim be rejected?
Jerry's job requires that he wear a suit and tie every day to the office. This is most likely a(n) _____ atmosphere.
Answer:
I would say a formal or business atmosphere.
Explanation:
The main jobs that require suits are often business atmospheres. However, the wearing of a suit is called formal attire.
Answer:
The answer is formal
Explanation:
I took the quiz and got all of the answers right.
Describe the information you will need to provide in order to complete a FAFSA. List at least three of the required documents you must include.
Answer:
Sample response: To complete a FAFSA, I must first include information to verify my identity. This includes my Social Security number or a driver's license. I must include information about my income or my family's income (if they are still responsible for my care). Finally, I must submit financial information, like my account statements.
Explanation:
2020 edg
Sam has take-home pay every month of $800. He anticipates that his expenses will add up to $675 for the month. In a zero-based budget, why is it important that she put the extra $125 in SOME budget category? Where might you suggest that Sam put the extra $125?
Answer:
Second savings account
Explanation:
Life is full of surprises... repairs or emergency cases this would be helpful to have
Answer:
In a zero based budget, your income needs to add up to zero at the end of every month. For that reason I recommend that if he still has money left over after paying bills and other expenses he should put in savings.
Helppp please
The fact that a country has less strict labor laws and relaxed environmental regulations are strong reasons for a
company to move production facilities to that country.
True
False
Answer:true
Explanation: I just took the test
Fractional reserve banking increases the money supply in an economy by:
A. preventing depositors from leaving a lot of money in banks.
B. requiring the government to print more money in certain
situations.
C. loaning money that would otherwise be held in a bank.
D. accepting currencies from many different countries to pay off
loans.
Answer:
C. loaning money that would otherwise be held in a bank.
Explanation:
Fractional reserve banking increases the money supply in an economy by "loaning money that would otherwise be held in a bank."
Fractional reserve banking is known as a system of banking whereby the banks hold a fraction of what customers deposit as reserves. Then the banks use the remaining to give loans and thereby creating and increasing the supply of money. Commercial banks practise this type of banking system. This tells of how commercial banks are affecting the money supply. The bank reserves are usually held as cash in the bank. It can also as balances in the bank's account at their central bank.
Answer:
C. loaning money
Explanation:
just did it on a-p-e-x
Which of the following best describes a stock.
A) An incredibly stable investment that is always a safe investment
B) Is insured by the FDIC
C) Represents a share of ownership of a corporation
D) Only sold in the United States
Answer: C
Explanation: A stock represents a share of ownership of a corporation. Stocks are bought by people so they can get money. If the company's stock they by it from goes well, they get money as well as interest. The answer is C. Hope this helps!
TRUE OR FALSE: It is always free to use an ATM if you have a debit card
Answer:
False
Some banks/stores will require you to pay if you use an ATM. In some cases, it is not about whether you have a debit card or not. Debit cards are primarily used to remove money from a bank account, not for ATMs.
Which of the following occupations is most responsible for ensuring the quality and safety of the food
supply chain?
O chefs
O farmers
O grocery store owners
O food processors
Answer: I am pretty sure the answer the answer would be the farmers
Explanation: the food comes form the farmers, including meats, veggies, fruits, well you get the point. And if there is something bad with one of the meat animals, they are in charge of not selling the "bad meat" to any stores or big meat companies
To satisfy demands for withdrawals, banks keep:
A. discount rates.
B. monetary policies.
C. balance sheets.
D. fractional reserves.
Virtue ethics places great focus on which of the following
Answer:
character i think.
Explanation:
WILL MARK BRANLIEST!!!!!
Which portion would not be part of an investment portfolio? (Select the best answer.) commodities funds
a savings account
a savings 529 plan
equity investments in a company
Answer:
a savings 529 plan
Hope this helps plz mark me brainliest
Answer:
A savings account
Explanation:
Took the quiz
