Answer:
A. Debit Salaries Expense $5,400; Credit Salaries Payable $5,400
Explanation:
In the given case per day expense of salary = $1,800
Salary is paid every Monday for preceding week of 5 days.
The year ends on 31 December that is Wednesday, which means 3 days salary Monday, Tuesday and Wednesday will be liability outstanding at year end on 31 Dec and will be paid on upcoming Monday which will fall in next year.
Therefore Salary for current year for 3 days i.e. $1,800 X 3 = $5,400 will be liability for current year.
With the rule all expenses are debited Salaries Expense will be debited with $5,400 on 31 Dec
With the rule that all liabilities have credit balance Salaries Payable will be credited as a outstanding liability with $5,400 on 31 Dec.
A. Debit Salaries Expense $5,400; Credit Salaries Payable $5,400
Answer:
C) a politicized internal environment,hostility to change and an aversion to looking outside the company for best practices,new managerial approaches,and innovative ideas.
Explanation:
Unhealthy company cultures typically have such characteristics as <em>a politicized internal environment,hostility to change and an aversion to looking outside the company for best practices,new managerial approaches,and innovative ideas.</em>
Answer:
c.) 82,000
Explanation:
We know that,
The ending work in progress units = Beginning work in process inventory + Units started in production - Units completed and transferred
7,000 dolls = 4,000 dolls + Units started in production - 79,000 dolls
7,000 dolls = -75,000 dolls + Units started in production
So, Units started in production = 75,000 dolls + 7,000 dolls
= 82,000
Answer:
Administrative.
Explanation:
The ways in which organizations use the system to provide information for day-to-day decisions about salary, benefits, and recognition programs falls under the <u>Administrative</u> purpose of a performance management system.
Performance management system: It is a system used to evaluate the performance of the employee and rewarding them on the basis of their performance. It also helps in defining the required role of an employee in a given time, which creates transparency in the evaluation process. It serves as a basis for improving employees' knowledge and skills, which motivate employee for better performance.
There are three purposes of performance management:
- Strategic purpose.
- Administrative purpose.
- Developmental purpose.
Strategic purpose: It is defined as how effective performance help the organization to grow.
Administrative purpose: It is defined as how organizations use the system to provide information for day-to-day decisions about salary, benefits, and recognition programs.
Developmental purpose: It is defined as how system helps organization in developing employee´s skill and knowledge.
The journal entry to be made to accrue wages expense at September
30 would be:
(Computation for the accrued salaries: 35,000/5 = 7,000 x 3
= 21,000)
Debit
Salaries and Wages Expense 21,000
Credit
Salaries and Wages Payable 21,000
At the next payday which is October 2, the entry would be:
Debit
Salaries and Wages Payable 21,000
Salaries and Wages Expense 14,000
Credit
Cash 35,000
