User Account

All Pages

Compute what effect of transactions under accrual accounting

Assignment Help Accounting Basics
Reference no: EM132615585

Problem 1: Employees of a firm are entitled to receive a monthly salary totaling $100,000. The firm immediately pays $50,000 of the salary it owed to employees on the last day of that month. What is the effect of these transactions under Accrual Accounting and Cash Accounting for the current period?

Option 1: In Cash Accounting, the salary expense is $100,000; in Accrual Accounting the salary expense is $100,000.

Option 2: In Cash Accounting, the salary expense is $100,000; in Accrual Accounting the salary expense is $50,000.

Option 3: In Cash Accounting, the salary expense is $50,000; in Accrual Accounting the salary expense is $100,000.

Option 4: In Cash Accounting, the salary expense is $50,000; in Accrual Accounting the salary expense is $50,000.

Reference no: EM132615585

Questions Cloud

Describe process of language acquisition in young children : Language Knowledge Article: Chapter 1 explains the attributes of language and the process of language acquisition in young children. Since this is such.
How much revenue is recognized in the next period : Under Accrual Accounting, how much revenue is recognized in the current period, and how much revenue is recognized in the next period?
How many electrons most be removed from a piece : How many electrons most be removed from a piece of fur in order to give it a net -2nC charge? (nC means nano coulomb)
What is the electric field vector in region : What is the electric field vector (in V / m) in this region?
Compute what effect of transactions under accrual accounting : What is the effect of the transactions under Accrual Accounting and Cash Accounting for the current period? In Cash Accounting, the salary expense is $100,000.
What is the index of refraction of a material : What is the index of refraction of a material if a ray of light that has a wavelength of 500 nm in air has a wavelength of 350 nm in the material?
Explore the complete system of language : In Chapter 2, you will explore the complete system of language as well as the various levels of language structure. Using your knowledge of the whole structure.
Calculate the coefficient of variation : Calculate the coefficient of variation and rank the five alternatives from the lowest risk to the highest risk by using the coefficient of variation
What is the focal length of a curved mirror : What is the focal length of a curved mirror if an object 2.25 meters in front of the mirror creates an image 1.5 meters behind the mirror?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd