What the correct entry for the payment of net wages is

Assignment Help Accounting Basics
Reference no: EM132774723

Problem 1: The correct entry for the payment of net wages is:

Select one:

a. DR Bank; CR Wages and salaries payable.
b. DR Gross pay; CR Net pay.
c. DR Wages and salaries payable; CR Bank.
d. DR Wages and salaries; CR Provision for wages and salaries.

Problem 2: The classification of liabilities into current and non-current, is useful as it helps decision-makers assess the firm's ability to meet all of the following except:

Select one:

a. capital repayments.
b. commitments which are part of the operating cycle.
c. profitability.
d. dividends.

Reference no: EM132774723

Questions Cloud

Which would normally be referred to in partnership agreement : Which would normally be referred to in a partnership agreement? The information required to be lodged with ASIC when applying to form a company is not required
Which is the correct journal entry to transfer application : Which is the correct journal entry to transfer the application money to share capital account? Minstrel Ltd decided to issue 200 000 ordinary shares for $2.50.
What the accounting entry to record transaction is : Gemma and Audrey are in partnership. Assuming the fixed capital balances method (method 2) is used, the accounting entry to record this transaction is
Describe the forex market of united kindom and ireland : Based on financial systems, please describe the forex market of United Kindom and Ireland
What the correct entry for the payment of net wages is : The classification of liabilities into current and non-current, is useful as it helps decision-makers assess the firm's ability to meet all of except
Which amount recognised by partnership for contributed : A partner contributes plant and equipment when a partnership is established. The amount recognised by the partnership for this contributed asset is equal to
Which conceptual framework characterises equity as : In the current Conceptual Framework the fundamental qualitative characteristic of faithful representation requires information to be
What the profit allocations of each of the partners is : $90 000 and $60 000 respectively at the end of the accounting perioD. If profit for the period is $48 000, the profit allocations of each of the partners is
What firms violate the concept of mean reversion : What firms violate the concept of mean reversion, and why does this occur?

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.

  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!

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