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2 years ago

Unscramble the vocabulary word from Chapter 12: yalplor

Business

1 answer:

makvit [3.9K]2 years ago

7 0

Payroll is your answer.

Payroll is a list that have all employees listed on it as well as the amount they were to be paid during a certain amount of time.

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Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the fol

zhuklara [117]

Answer:

GOLDEN EAGLE COMPANY

Adjusting entries that were made for supplies, prepaid insurance, salaries payable, and unearned revenue on December 31.

Debit Supplies Expense $2,050

Credit Supplies $2,050

Debit Insurance Expense $1,050

Credit Prepaid Insurance $1,050

Debit Salaries Expense $14,100

Credit Salaries Payable $14,100

Debit Unearned Revenue $1,500

Credit Rent Revenue $1,500

Explanation:

a) Data and Calculations:

Golden Eagle Company

November 30 adjusted trial balance

30-Nov 31-Dec

Debit Credit Debit Credit

Supplies $2,000 $2,550

Prepaid Insurance $8,000 $6,950

Salaries payable $11,000 $16,000

Unearned revenue $3,000 $1,500

Supplies:

Nov. 30 balance $2,000

Purchase 2,600

Supplies expense 2,050

Balance $2,550

Prepaid Insurance:

Nov. 30 balance $8,000

Insurance exp. 1,050

Dec. 31 balance $6,950

Salaries Payable:

Nov. 30 balance $11,000

Salaries expense 14,100

Cash paid 9,100

Dec. 31 balance 16,000

Unearned Revenue:

Nov. 30 balance $3,000

Rent Revenue $1,500

Dec. 31 balance 1,500

3 0

2 years ago

According to the Uniform Partnership Act, the three key elements of any general partnership are

Anon25 [30]

Answer:

(2) Common ownership, shared profits and losses, and right to participate in managing the operations.

Explanation:

Partnership refers to a mutual agreement between 2 or more individuals agreeing to carry out a business and to share it's profits and losses in an agreed ratio or as per the clauses in partnership deed.

Uniform partnership act regulates partnership agreements in majority of United States. The act also allows remaining partners after dissolution to continue the partnership if majority of them desire to do so.

Under the act, Partnership is characterized by common ownership of assets and liabilities by all partners, sharing of partnership profits and losses and equal rights to participate in managing the operations of the partnership.

4 0

2 years ago

A firm is using cumulative voting and four director spots are up for election. There are 3.6 million shares outstanding. How man

VladimirAG [237]

Answer:

A minority owner own or control to ensure that he or she can gain control of one seat on the board of directors must have <u>720001 shares.</u>

Explanation:

Number of shares he must own = Total number of shares/(Number of directors + 1)

= 3.6 million/(4+1) + 1

= 720001

4 0

1 year ago

Read 2 more answers

Pie Corporation paid $319,500 to acquire 90 percent ownership of Slice Company on April 1, 20X2. At that date, the fair value of

marshall27 [118]

Answer and Explanation:

As per situation the Journal entries with narrations is here below:-

As per requirement of a

1. Slice Co. investment Dr, $319,500

To Cash $319,500

(Being cash paid is recorded)

2. Slice Co. investment Dr, $27,000

To Income from Slice Co. $27,000

(Being investment is recorded)

3 Cash Dr, $13,500

To Slice Co. investment $13,500

(Being cash is recorded)

As per requirement b

1. Sales Dr, $90,000

To Total Expenses $80,000

To Dividends Declared $5,000

To Retained Earnings $5,000

(Being sales is recorded)

2. Common stock Dr, $160,000

Additional paid-in capital Dr, $40,000

Retained earnings Dr, $155,000

Income from Slice Co. Dr, $27,000

NCI in NI of Slice Co. Dr, $3,000

To Dividends declared $15,000

($1,500 + $13,500)

To Investment in Slice Co. $333,000

($319,500 + $27,000 - $135,00)

To NCI in NA of Slice Co. $37,000

(Being acquisition is recorded)

4 0

1 year ago

The ______ is a security technique associated with the use of credit cards at the time of purchase that checks additional digits

gayaneshka [121]

Answer:

Card Verification Number

Explanation:

The card verification number is the additional code printed on the back of the debit or credit card. On most cards it is the last three digits printed on the signature strip located on the back of the card. On American Express (AMEX) cards, this is usually a four-digit code on the front of the card. Since this number is not embossed (like the card number), it is not printed on receipts, so it is unlikely that anyone, In addition to the actual cardholder, know him.

6 0

2 years ago