User Account

All Pages

What will company report as wage expense

Assignment Help Accounting Basics
Reference no: EM133113002

Question - Company pays employees every week on a Friday for the work they complete that week (a Monday-Friday work-week). Company has a December 31 year-end and prepares annual financial statements. In Year3, December 31 falls on a Tuesday. Company's weekly wage cost is $5,000.

Required -

What will Company report as a liability on December 31, Year3 with respect to wages?

What will Company report as wage expense when it records the payment of wages on Friday, 1/3/Year4? Input this as a positive number.

Reference no: EM133113002

Questions Cloud

Indicate the amount of increases in the accounting equation : Pay utilities of $4,400 for the current month. Analyze each transaction and indicate the amount of increases and decreases in the accounting equation
Calculate both the capm and icapm weighted average cost : Calculate both the CAPM and ICAPM weighted average cost of capital for the following equity risk premium estimate: 7%:
Partial disability benefit : Under an income protection policy, Ellen Tucker, who has been disabled, is receiving $4000 a month. Ellen has made a good recovery and is now able to resume som
What is the balance on the original loan : B1. What is the balance on the original loan at the end of year 6?
What will company report as wage expense : What will Company report as wage expense when it records the payment of wages on Friday, 1/3/Year4? Input this as a positive number
What are the balances for the machine account : After the adjustments are recorded and posted at December 31, Year6, what are the balances for the Machine account and the Accumulated Depreciation account
Calculate the probability of joint default : A portfolio consists of two bonds. The bond value, default probability, and recovery rate are USD $1,000,000,1%, and 60% for one bond, and USD $400,000, 5%, and
What is the equivalent annual cost of buying : Deutsche Transport can lease a truck for four years at a cost of €39,000 annually. It can instead buy a truck at a cost of €89,000, with annual maintenance expe
What is the risk-free rate : Stock M has an expected return of 18 percent and a beta of 1.7. Stock N has an expected return of 9 percent and a beta of 0.8. Both stocks have the same reward-

Reviews

Write a Review

Accounting Basics Questions & Answers

  Calculate profit for may using cash basis accounting

Tamarisk, Inc. had following transactions in May. Calculate profit for May using cash basis accounting. Calculate profit for May using accrual basis accounting.

  Discuss the option to purchase at the end of the lease

Sanderson does not expect to incur any extra kilometer charges because it is likely that the BMW won't be driven that much by the CEO

  What would the Monday percent to total week sales be

If Todd runs a sale on Monday next week and sells 300 glasses of lemonade, what would the Monday percent to total week sales be

  What is the total amount of product costs

For financial accounting purposes, what is the total amount of product costs incurred to make 12,800 units

  Calculate Acquisition Analysis

Prepare the consolidated worksheet entries at 30 June 2020 for Green Ltd assuming: Green Ltd adopts the partial goodwill method

  What is the equity at the beginning of the year

Using the Expanded accounting equation, calculate and enter the answers for each question. What is the equity at the beginning of the Year

  Find what is entry to record derecognition of note payable

Land with fair value of 2,200,000.00 and carrying amount of 2,100,000.00. What is the entry to record the derecognition of the note payable?

  What are ethical issues related to barbara brockmans idea

Answer the following questions (# your responses): What are the ethical issues related to Barbara Brockman's idea? What would you tell Barbara Brockman?

  Prepare issuers journal entry for each separate transaction

Prepare the issuers journal entry for each separate transaction. On April 1, OP Co. issues no-par value common stock for $70,000 cash

  Preparing a statement of cash flows

Preparing a statement of cash flows. Use the information to create statement of cash flows. Presented below is information for the Hudson partnership for.

  Calculate the net capital gain

Calculate the Net Capital Gain, if any, to be included as Mary's assessable income for the year ending 30 June 2021

  Find book value of the machine at beginning of third year

The company uses the straight-line method of depreciation. Find the book value of the machine at the beginning of the third year

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