Solution-How should the expense and related liability be

How should the expense and related liability be recorded

Assignment Help Accounting Basics

Reference no: EM13995276

1. Salaries of $5,000 have been earned by employees by the end of the period but will not be paid to employees until the following period. How should the expense and related liability be recorded? Why?

Reference no: EM13995276

Questions Cloud

Declining consumer and business confidence : During the recession of 2007-2009, the U.S. economy was experiencing a decrease in home prices and consumer wealth, a credit crisis in the financial markets, and declining consumer and business confidence. What components of aggregate demand were aff..

Relations describe demand and supply : The following relations describe demand and supply. Find the market clearing (equilibrium) price and quantity and show them graphically using S and D curves. A free hand graph will do as long as you identify clearly market clearing P and Q. Calculate..

Stages of production for a single-cylinder engine : During the early stages of production for a single-cylinder engine designed for use in portable gen- erators, the manufacturer randomly selects 12 engines from the end of the assembly line and subjects them to a battery of tests.

What is the direction of the induced current : A uniform magnetic field directed into the page has a magnitude B=0.3T. Assume R =9(Ohm) and l = 0.35m. Determine the speed of the moving bar v, at which the produced current in the resistor is I = 8.5mA. What is the direction of the induced curr..

How should the expense and related liability be recorded : Salaries of $5,000 have been earned by employees by the end of the period but will not be paid to employees until the following period. How should the expense and related liability be recorded? Why?

Many people believe trade deficits are a serious problem : Many people believe trade deficits are a serious problem and need to be eliminated. Explain the three actions the Fed could take to reduce the trade deficit in the U.S., and explain carefully how these actions would result in a reduced trade deficit.

Find the minimum height h required for the marble : The moment of inertia of the marble depends on its radius. Explain why the answer to part (a) does not depend on the radius of the marble. Essay answers are limited to about 500 words (3800 characters maximum, including spaces).

Trade deficits have an effect on inflation : The U.S. economy experienced large trade deficits in the 1980s and 1990s and tremendous economic growth in the mid- and late-1990s. Trade deficits have an effect on inflation. Explain the relationship between trade deficits and investment verbally an..

How do company custom and practice affect : Under what conditions should an employer accrue an expense and the related liability for employees' compensation for future absences?

User Account

All Pages

How should the expense and related liability be recorded

Reference no: EM13995276

Reference no: EM13995276

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT