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Anarel [89]
2 years ago
7

As the controller of Chardon​ Consulting, you have hired a new​ employee, whom you must train. She objects to making an adjustin

g entry for accrued salaries at the end of the period. She​ reasons, "We will pay the salaries soon. Why not wait until payment to record the​ expense? In the​ end, the result will be the​ same." Write a reply to explain to the employee why the adjusting entry is needed for accrued salary expense.
Business
1 answer:
Bess [88]2 years ago
6 0

Explanation:

In this case, it is incorrect to wait until payment to record the expense, as organizational accounting is essential in an organization so that there is a record and control of organizational financial transactions so that companies can obtain information about the business and take reasoned decisions based on the current reality of the company.

Therefore, all income and expenses for the period must be recorded in accounting so that there is real information about an organization's movements in a period.

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27. DORIS PURCHASED A NEW AUTOMOBILE ON CREDIT WHEN SHE WAS SIXTEEN YEARS OLD. TWO DAYS AFTER HER NINETEENTH BIRTHDAY SHE SOUGHT
likoan [24]

Answer: Sorry bruh, cant help u with them all.

Explanation:

I dont got the time. But i will answer one. 27. the answer is A I think.

4 0
2 years ago
In its first year of operations, gomes company recognized $28,000 in service revenue, $6,000 of which was on account and still o
emmainna [20.7K]

Answer:

The accrual basis provides more useful information for decision makers as it matches better revenue against expenses.

Explanation:

net earnings under the cash basis of accounting:

service revenue $22,000

less operating expenses $13,000

less insurance $3,600

Net earnings $5,400

net earnings under the accrual basis of accounting:

service revenue $28,000

less operating expenses $14,500

Net earnings $13,500

The accrual basis provides more useful information for decision makers as it matches better revenue against expenses.

bran-list please almost Virtuoso

5 0
2 years ago
Suppose that, in an attempt to combat severe unemployment, the government decides to increase the amount of money in circulation
zepelin [54]

Answer:

Increase; higher; more; lower; lower

Explanation:

Expansionary policy is required to combat unemployment in the economy. If the government increases the money supply, the interest rate falls. This causes an increase in investment as lending becomes cheaper. Increase in investment causes an increase in the aggregate demand. Increased demand further causes the price level to rise.  

Increase in prices will motivate producers to produce more. In order to increase output producers will hire more workers. Consequently, the rate of unemployment will fall. We see that at higher inflation unemployment is lower and vice versa. This means that there is a trade-off between inflation and unemployment.

4 0
2 years ago
Blue Lite manufactures decorative weather vanes that have a standard materials cost of two pounds of raw materials at $2 per pou
igomit [66]

Answer: See explanation

Explanation:

The material price variance will be calculated as:

= (Standard price - Actual price) × Actual quantity of material used

= ($2 - $4) × 500

= -$2 × 500

= $-1000

= $1000 Unfavourable

The material quantity variance will be:

= Standard quantity - Actual quantity) × Standard price

=[(450 × 2) -500] × $2.00

= (900 - 500) × $2.00

= 400 × $2.00

= $800 Favorable

8 0
1 year ago
Greta loses her two dogs. She puts signs all over town that offer a $50 reward for the return of her dogs. Al and Ben see the po
boyakko [2]

Answer:

Al

Explanation:

In order for a contract to be formed, both parties must reach an agreement (usually through offer and an acceptance of terms). The offer made by Greta was a $50 reward for her missing dogs, Al and Ben agree to the contract by searching for the dogs. Since Al finds and returns one of the Dogs, Greta has an obligation to pay Al. As for Ben, since he failed to meet the terms, he should not be paid. On the other hand, since Charlie never saw the posters, there was no contract formed because he could not possibly agree to terms he was not aware, and Greta has no legal obligation to pay Charlie.

Therefore, Greta has a legal obligation to pay Al.

3 0
2 years ago
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