Ask question

Ask question

All categories

2 years ago

8

ABC Grocers uses a separate checking account to pay their employees. The gross pay for the period was $850. However, after deduc

tions were taken out, the net pay for the period was $790. The journal entry to record the issuance of payroll checks to their employees would include:

1 answer:

choli [55]2 years ago

4 0

Answer:

Debit Payroll expense $850

Credit Cash/Bank Account $790

Credit Deduction (liability) $60

Being entries to record payroll expense

Explanation:

Given;

Gross pay for the period = $850

After deductions were taken out, the net pay for the period = $790

Therefore, amount deducted = $850 - $790

= $60

The journal to record this would include;

Debit Payroll expense $850

Credit Cash/Bank Account $790

Credit Deduction (liability) $60

Being entries to record payroll expense

On remittance of the deduction to the appropriate party

Debit Deduction (liability) $60

Credit Cash/Bank Account $60

You might be interested in

Use what you have learned about risk and return to complete these sentences.

vfiekz [6]

Answer:

To minimize risk, investors should investigate the market and diversify its portfolio.

Interest that builds on the principle and the interest already gained is compound interest

Money invested in a CD always have a fixed rate of return and is less risky than money used to purchase a home.

4 0

2 years ago

Read 3 more answers

Target's brand promise "Expect More. Pay Less" and appeal to higher-income, fashion-conscious discount shoppers illustrates the

blagie [28]

Answer:

The correct option is D. integrated cost leadership/differentiation

Explanation:

Integrated cost leadership/differentiation is a business level strategy where differentiated products are offered in market at low cost.

Differentiated product signifies the unique characteristics the customer values and cost leadership signifies that the product is offered at the lower-cost, i.e., at a margin just above average costs.

It is useful in gaining wide customer base especially in a global frontier.

8 0

2 years ago

Read 2 more answers

Marst Corporation's budgeted production in units and budgeted raw materials purchases over the next three months are given below

RideAnS [48]

Answer:

137,000

Explanation:

Jan Feb March

Units produced 94000 80000

Raw materials 26,000

Raw materials 213800 239800 295800

Ratio of raw material to a product is 2:1

Ending inventory = 30% of next month production

Represent budgeted production in February by F

239800=2F + (80000*2*30%)-(2F*30%)

239800 = 2F +48000 =0.6F

239800-48000=2F-0.6F

191800=1.4F

F= 191800/1.4 =137000

7 0

2 years ago

Which of the following is NOT a typical revenue model in the digital world? Freemium Subscriptions Channel marketing Licensing A

Ber [7]

Answer:

The correct answer is Channel Marketing.

Explanation:

The marketing channels are the routes through which the products circulate from their origin, the manufacturer, to the final consumer. These channels are formed by companies independent of the manufacturers whose function is to market, sell or help the sale of products created or manufactured by others. Let's say that the marketing channels are the ones that help sell the products of others.

Depending on the type of sales technology they use, we can find different channels:

Traditional channels: those that, as the name implies, do not use advanced technology to achieve their ends.
Automated channels: they use technology in a basic way to channel products towards consumption. For example, product vending machines.
Audiovisual channels: these are the channels that use different media. For example, television to publicize their products, the telephone to contact potential buyers and a transport company to get the product home.
Electronic channels: these are the marketing channels that use the internet as a means to connect with consumers.

5 0

2 years ago

Multi-product branding is:_______.

Elan Coil [88]

Answer:

b. a branding strategy in which a company uses one name for all of its products in a product class.

Explanation:

Multi-product branding is a branding strategy in which a company uses one name for all of its products in a product class.

Multi-product branding is a business strategy widely used by manufacturers, it involves producing and selling multiple products using the same brand name for all.

For instance, Pears may have Pears diapers, clothing lines, lipstick ranges, shoes, body lotions, eye shadow, foundation etc. They are all different products manufactured and all branded as Pears.

The merits and advantages of Multi-product branding is high brand awareness, low promotional and advertising costs, and brand equity return.

8 0

2 years ago