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Monica [59]
2 years ago
6

The accountant for Watson Electrical Repair, Inc. failed to make an adjusting entry to record $5,000 of unpaid salaries for the

last two weeks of the year. Which of the following statements is true? Select one: A. The total expenses will be overstated. B. The total expenses will be understated. C. The total revenue will be understated. D. The total revenue will be overstated.
Business
1 answer:
Mila [183]2 years ago
7 0

Answer:

B. The total expenses will be understated

Explanation:

The adjusting entry is as follows

Wages expense $5,000

        To Wages payable $5,000

(Being the wages expense is adjusted)

The wages expense should be debited as it increased the expenses while at the same time the wages payable should be credited as it also increased the liabilities account

Since this above adjusting entry of unpaid salaries for $5,000 is failed to recorded due to which the total expenses will be understated instead of overstated

Hence, the correct option is B.

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.Rhonda has agreed to invest $16,000 in a partnership with her sister and brother-in-law. Rhonda does not plan to work in the pa
Elena-2011 [213]

Answer:

The correct answer is option 4.

Explanation:

Rhonda has agreed to invest $16,000 in a partnership with her sister and brother-in-law. she does not plan to work in partnership or invest any of her wealth other than $16,00. But she intends on sharing profits. This implies that Rhonda is a limited partner in the business.

A limited partner is a partial owner of a business. His/her liability to the business's debts is limited to the extent of the amount he/she has invested in the business. Such partners are often called silent partners as they don't have any involvement in the day to day operations.

3 0
2 years ago
The table below shows a summary of Kaitlin's credit card statement for the month of February.
den301095 [7]

Answer:

A) 32 percent interest B) Yes it will be paid

Explanation:

23 times 42 divided by 7

6 0
2 years ago
Match each type of GDP with its definition. the market value of all final goods and services produced by resources owned by citi
Firdavs [7]

Answer:

The market value of all final goods and services produced by resources owned by citizens of a particular country in a given year gross GDP

GDP adjusted to base year prices <em>real GDP</em>

GDP divided by population  GDP per capita

GDP adjusted for differences in the cost of living in different countries

<em>GDP power purchase parity</em>

the market value of all final goods and services produced by resources located in a particular country in a given year <em>gross national product GNP</em>

<em></em>

Explanation:

We are mathcing the definition with the term so it is self-explanatory

6 0
2 years ago
Burton Bush wants to retire in Arizona when he is 80 years of age. Burton, who is now 55, believes he will need $500,000 to reti
Rudik [331]

Answer:

$116,499.15

Explanation:

To find the amount he will have to invest today, we have to find the present value of $500,000 at the 6% interest rate

PV = FV (1+r)^-n

PV = Present value

FV = Future value = $500,000

R = interest rate = 6%

N = number of years = 25

$500,000 ( 1 + 0.06) ^-25 = $116,499.15

I hope my answer helps you

8 0
2 years ago
The first step in finding a job is locating job leads. Please select the best answer from the choices provided T F
Dominik [7]

true the first step is locating job leads


4 0
2 years ago
Read 2 more answers
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