On December 29, 2020, an employee received a $5,000 check from her employer's client. The check was payable to the employer. The employee did not remit the funds to the employer until December 30, 2020. The employer deposited the check on December 31, 2020, but the bank did not credit the employer's bank account until January 2, 2021. Complete the statement below regarding when the cash basis employer is required to include the $5,000 in gross income. In because a check received considered a cash equivalent and a cash basis taxpayer must recognize the income when the check is .

Answers

Answer 1

Answer:

In 2020 because a check received IS considered a cash equivalent and a cash basis taxpayer must recognize the income when the check is RECEIVED.

Explanation:

Checks are basically cash, that is why you record a cash disbursement once you issue a check, not when the check is cashed. Once a check has been issued or received, a cash transaction has been made. A cash basis taxpayer must record revenue when it collects it, and collecting a check is equivalent to collecting cash.


Related Questions

Ms. Lan is considering purchasing a Sunrise apartment for $220,000. She will pay 10% down and $19,800 a year for 10 years. What is the real purchase price if Ms. Lan could get an interest rate of 5% on invested money (Don’t write currency symbol, round up to 2 decimal numbers

Answers

Explanation:

The down payment is 10% of $220,000 = $22,000.

The total amount Ms. Lan will pay over 10 years is $19,800 x 10 = $198,000.

To find the real purchase price, we need to calculate the present value of the annual payments at an interest rate of 5%.

Using the formula for present value of an annuity:

PV = PMT x [(1 - (1 + r)^-n) / r]

where PMT is the payment, r is the interest rate per period, and n is the number of periods.

In this case, PMT = $19,800, r = 5%/year = 0.05/year, and n = 10 years.

PV = $19,800 x [(1 - (1 + 0.05)^-10) / 0.05]

PV = $154,345.45

So the real purchase price of the apartment is the down payment plus the present value of the annual payments:

Real purchase price = $22,000 + $154,345.45

Real purchase price = $176,345.45 (rounded to 2 decimal places)

Answer:

The amount of the down payment is $220,000 x 10/100 = $22,000.

The annual payment Ms. Lan will make for 10 years is $19,800, for a total of $19,800 x 10 = $198,000.

The total amount Ms. Lan will pay is $22,000 + $198,000 = $220,000.

To find the real purchase price, we need to find the present value of the $198,000 that Ms. Lan will pay over 10 years at an interest rate of 5%.

Using the present value formula, we get:

PV = FV / (1 + r)^n

where PV is the present value, FV is the future value, r is the interest rate, and n is the number of years.

Substituting the values we have, we get:

PV = $198,000 / (1 + 0.05)^10

PV = $198,000 / 1.6289

PV = $121,738.57

Therefore, the real purchase price is $22,000 + $121,738.57 = $143,738.45.

The two core principles of TQM are

Answers

Customer satisfaction, training, and ongoing quality improvement are all priorities of total quality management. The emphasis on people and the emphasis on improvement are two fundamental ideas.

What is Total Quality Management?

Total quality management (TQM) is the ongoing process of identifying and minimizing or eliminating production defects, optimizing the supply chain, enhancing the customer experience, and ensuring that staff members are trained to the highest standards.

Aiming to hold all parties responsible for the entire quality of the finished good or service, total quality management attempts to hold everyone engaged in the production process accountable.

TQM frequently has eight guiding principles, including keeping processes in place and putting the customer first.

Learn more about Total Quality Management, from:

brainly.com/question/17368639

#SPJ1

Investors who prefer gains through appreciation will generally prefer a ___________ dividend payout ratio.

Answers

Investors who prefer gains through appreciation will generally prefer a measure of dividend payout ratio.

What is dividend payout ratio?

The Dividend Payout Ratio (DPR) can be described as the amount of dividends that is been paid to shareholders in relation to the total amount of net income the company generates.

It should be noted that the investors do like to gains through appreciation  and it will be a measure of dividend payout ratio, hence the use of the ratio is very important in the firms.

Learn more about investment at:

https://brainly.com/question/1305349

#SPJ1

The dollar cost of reaching 1,000 members of a media vehicle's audience is the: Group of answer choices a. effective reach. b. cost per thousand. c. gross rating points. d. cost per million.

Answers

The dollar cost of reaching 1,000 members of a media vehicle's audience is the cost per thousand.

Dollar-cost averaging is a method of investing a fixed amount on a regular basis regardless of the stock price. This is a good way to develop disciplined investment habits, invest more efficiently, and potentially reduce stress levels and costs.

In the dollar cost averaging method, the investor determines only his two parameters: a fixed amount to invest in each period (that is, the amount available for investment) and the frequency with which the funds are invested.

No more decisions need to be made about the timing and amount of future investments, and they are well suited for automated investment systems such as payroll deductions and regular bank transfers.

Learn more about Dollar-cost here

https://brainly.com/question/14776694

#SPJ4

QUESTION 4 of 10: In this market research step, data related to the problem are collected and studied:
a) Choose the best solution
b) Analyze data
c) Obtain data
d) Identify the problem
o

Answers

Answer:

b/ because its acurat

Explanation:

Answer:

c … obtain data

Explanation:

thanks me later

Your job right now is to finish reading chapter 14. How strongly would you be motivated to do that if you were sweating in a room at 105 degrees Fahrenheit? Imagine your roommate has turned on the air-conditioning. Once you are more comfortable, are you more likely to read? Look at Maslow's hierarchy of needs to see what needs would be motivating you at both times. Now recall a situation in your home, school, or work life in which you were feeling particularly motivated to do something. Which of the needs identified by Maslow motivated you then? (Required at least 300 words).Original Post due by Friday 10/29/2021 (50% of the grade)

Answers

Answer:

we're is the picture of the questions

Suppose that Income 800 Quantity of x is 40units Quantity of y is 20units y Calculate price per unit for good x and Draw budget line 4 Calculate MRS 20.05​

Answers

To calculate the price per unit for good x, we divide the income by the quantity of x. In this case, the income is 800 and the quantity of x is 40 units.Price per unit of good x = Income / Quantity of x = 800 / 40 = 20.So, the price per unit for good x is 20.

To draw the budget line, we plot the intercepts on the x and y axes. The intercept on the x-axis is 40 units of x, and the intercept on the y-axis is 20 units of y. We connect these two points to form the budget line.

To calculate the Marginal Rate of Substitution (MRS), we need the utility function or the indifference curve representing the consumer's preferences. Since the utility function is not provided, we cannot calculate the MRS accurately.

However, if the MRS is given as 20.05, it indicates the rate at which the consumer is willing to substitute good y for good x while keeping utility constant. For example, if the consumer is willing to give up 20.05 units of good y to obtain an additional unit of good x, the MRS would be 20.05.

It's important to note that without additional information or a specific utility function, we cannot provide further analysis or determine the exact units of goods x and y to be consumed based on the given MRS.

For more such questions on price

https://brainly.com/question/28479908

#SPJ11

London Docks Café is a company that prepares meals for tourists and citizens in its kitchen located next to the local airport. The company’s planning and actual budgets for September appears below:





















The London Docks Café



Planning and actual budgets for the month ended September 30th, 2020





PLANNING ACTUAL

Budgeted meals quantity (q) 20 000 18 000

Revenues (£5.00q) £100 000 £90 000

Expenses:

Raw material (£2.50q) 50 000 45 000

Wages and salaries (£5 500+£0.25q) 10 500 10 000

Utilities (£2 500 + £0.05q) 3 500 3 400

Facility rent 5 000 5 500

Insurance 2 800 3 200

Fuel 2 500 2 800

Net Operating Income £25 700 £20 100



Required:



a) Outline the objectives of budgeting and explain how London Docks Café benefits from engaging in robust budgetary processes? (15 marks)

b) Prepare a report showing London Docks Cafe’s revenue and spending variance for September? (20 marks)

c) Based on the variances report you prepared in (b) above, which area/s of activity should be of concern to the management of London Docks Café? Explain (25 marks)

d) Explain the terms profitability and sustainability. Assess and advise the London Docks Café on the measures they should adopt to ensure the attainment of both mandates. (30 marks)



Answers

Answer:

go hard in the mf paint

Explanation:

goods worth Rs. 75,000 cash : Purchased : Purchased goods worth Rs. 1,00,000 from Shyam on credit. : Purchased furniture worth Rs. 25,000, paid through cheque :Sold goods worth Rs. 40,000 cash​

Answers

In economics, goods are things that fulfill human needs and offer usefulness, such as to a customer buying a fulfilling product. It is usual practice to distinguish between transferable commodities and non-transferable services

Goods are any products, raw resources, or consumables that are sold to customers, businesses, or governmental organizations.

Services are tasks carried out for the benefit of the recipients, whereas goods are physical commodities offered to clients. Automobiles, home products, and apparel are a few examples of goods.

Learn more about the Goods here:

https://brainly.com/question/12802278

#SPJ1

In finding your target market, demographic considerations include

education and religion
brand interactions
interests and lifestyle
region and country

Answers

In finding your target market, demographic considerations include brand interactions, interests and lifestyles and region and country. The correct option is b, c and d.

What is the target market?

A target market is a group of people that have been identified as the most likely potential customers for a product because of their shared characteristics such as age, income, and lifestyle. Identifying the target market is a key part of the decision-making process when a company designs, packages, and advertises its product. The target market also can inform a product's specifications, packaging, and distribution.

Companies use target markets to thoroughly understand their potential customers and craft marketing strategies that help them meet their business and marketing objectives.

Learn more about market, here:

https://brainly.com/question/13414268

#SPJ1

A structure that organizes worldwide operations primarily based on function and secondarily on product is called: a global area division. a global functional division. a multinational matrix structure. a global product division.

Answers

Answer:

a global functional division.

Explanation:

In a global functional structure, the MNC activities are to be organized among the particular functions that are related to the production, finance, marketing etc. Here the developments are establishment that would have the responsibility worldwide for the particular function

So as per the given situation, the above should be the answer

FILL IN THE BLANK A(n) ____ is a specific collection of business processes used to identify customers, market to those customers, and generate sales to those customers.

Answers

A Revenue Model is a specific collection of business processes used to identify customers, market to those customers, and generate sales to those customers.

What does revenue model include?

A revenue model is a structure for producing money. The value to be provided, how to price the value, and who will be paying for the value are all determined. It is an important part of a business model. It essentially outlines what goods or services will be developed in order to make money, as well as how they will be sold. New businesses are more likely to struggle as a result of costs they won't be able to cover if they don't have a clear and well-defined revenue model, or, in other words, a clear plan of how to produce revenues. A company can concentrate on a specific market and finance product development goals by having a clear revenue model.

To know more about revenue model visit:

brainly.com/question/15086344

#SPJ4

Josh buys an $8000 10-year bond that has a coupon rate of 4.5 %. If he keeps the bond to maturity, how much interest will he collect?

Answers

Josh will collect $3600 in interest if he keeps the $8000 10-year bond with a 4.5% coupon rate to maturity.

To calculate the interest that Josh will collect from the 10-year bond with an $8000 face value and a coupon rate of 4.5%, we need to consider the annual interest payment and the total number of interest payments over the bond's lifespan.

The annual interest payment can be calculated by multiplying the face value of the bond ($8000) by the coupon rate (4.5%). This gives us an annual interest payment of $360 (8000 * 0.045).

Since the bond has a 10-year maturity, there will be a total of 10 interest payments over its lifespan. Therefore, the total interest Josh will collect can be calculated by multiplying the annual interest payment ($360) by the number of interest payments (10).

Total interest = Annual interest payment * Number of interest payments

Total interest = $360 * 10

Total interest = $3600

Therefore, if Josh keeps the bond to maturity, he will collect a total of $3600 in interest over the 10-year period.

For more question on interest visit:

https://brainly.com/question/29415701

#SPJ8

What economic challenge comes with being a contingency worker?

A.
It can be hard to predict how much money you will make.

B.
Much of the work comes with a salary and benefits.

C.
It means there are fewer applicants for full-time positions.

D.
There is little protection against unruly members of the public.

Answers

Answer:

answer is d

hope it helps

Project 1: Production Cycle
• Describe the major business activities and related information processing operations performed in the production cycle.
• Identify major threats in the production cycle and evaluate the adequacy of various control procedures for dealing with those threats.
• Explain how a company’s cost accounting system can help it achieve its manufacturing goals.
• Discuss the key decisions that must be made in the production cycle and identify the information required to make those decisions.
Project 2: Revenue Cycle
• What are the basic business activities and data processing operations that are performed in the revenue cycle?
• What decisions need to be made in the revenue cycle, and what information is needed to make these decisions?
• What are the major threats in the revenue cycle and the controls related to those threats?
Project 3: Expenditure Cycle
• Explain the basic business activities and related information processing operations
performed in the expenditure cycle.
• Discuss the key decisions to be made in the expenditure cycle, and identify the information needed to make those decisions.
• Identify major threats in the expenditure cycle, and evaluate the adequacy of various control procedures for dealing with those threats.
Project 4: HR or Payroll Cycle
• Describe the major business activities and related information processing operations performed in the human resources management (HRM)/payroll cycle.
• Discuss the key decisions to be made in the HRM/payroll cycle and identify the
information needed to make those decisions.
• Identify the major threats in the HRM/payroll cycle and evaluate the adequacy of various internal control procedures for dealing with them.
Project 5: General Ledger and Reporting System
• Describe the information processing operations required to update the general ledger and to produce reports for internal and external users.
• Identify the major threats in the general ledger and reporting activities and evaluate the adequacy of various control procedures for dealing with them.
• Understand the implications of new IT developments and changes in external reporting requirements, such as IFRS, for the design and operation of the general ledger and reporting system.
• Discuss how tools like responsibility accounting, balanced scorecards, and graphs can be used to provide information managers need to effectively monitor performance.

Answers

The production cycle is comprised of all activities related to the conversion of raw materials into finished goods.

What is the Production Cycle?

The production cycle describes the procedure used to transform raw materials into finished products. The cycle consists of numerous independent parts, including product design, scheduling of production, manufacturing tasks, as well as a standard costing feedback loop.

The product design, planning and scheduling, production operations, and cost accounting.

The production cycle of a business reveals how well it can turn assets into earnings, inventories into goods, but rather supply chains toward cash flow.

Learn more about the Production Cycle here:

https://brainly.com/question/15177349

#SPJ1

The common stock of Sweet Treats is selling for $45.65 per share. The company is expected to have an annual dividend increase of 2.6 percent indefinitely and pay a dividend of $3.30 in one year. What is the total return on this stock

Answers

Answer:

9.83%

Explanation:

The computation of the total return on the stock is shown below:

As we know that

Share price = Next year dividend ÷ (Required rate of return -  growth rate)

$45.65 = $3.30 ÷ (Required rate of return - 2.6%)

Let us assume the required rate of return be X

So,

$45.65 × X - 1.1869 = $3.30

$45.65  × X = $3.30 + $1.1869

So, the X is 9.83%

Hence, the total return on the stock is 9.83%

Which statement is true regarding monopolistic competition?

Answers

Answer:

AR>MR

--------------------------------------

WHERE ARE THE OPTIONS.

Robyn was a lawyer for the Department of State who has been disbarred for ethical lapses including dishonesty and interfering with investigations.
After losing his license to practice law, he was fired from the State Department. What MOST likely must Robyn do now?
A. Appeal his case to the American Bar Association.
B. Find a new career outside the legal profession.
C. Wait a year and reapply for his license.
D. Take his case to an appeals court.

Answers

The most likely thing for Robyn to do is B. Find a new career outside the legal profession.

Why does Robyn need to leave the legal profession ?

Since he has lost his license to practice law, he would not be able to continue working as a lawyer or in any other legal capacity. In addition, his firing from the State Department would likely make it difficult for him to find employment in a related government agency.

Therefore, the most realistic option for Robyn would be to seek employment in a different field or industry. Appealing his case to the American Bar Association or taking his case to an appeals court would likely not be fruitful options, as his disbarment and firing from the State Department suggest that his ethical lapses were significant and serious.

Find out more on license at https://brainly.com/question/17197957

#SPJ1

The best place to put your money if you want to be able to withdraw it quickly
is a
account.

Answers

Answer:

true

Explanation:

The BLANK are the rules used to evaluate the alternatives.
A) alternatives
B) liabilities
C) criteria
D) guidelines

Answers

I would have to say B. Liabilities, or C. Criteria
The answer is c, criteria

AIS chapter 14 The imprest payroll account should show a zero balance after both the debit for gross pay paid to employees and the credit for gross pay distributed to jobs in process or to expense categories has been posted to the account. True False

Answers

Answer:

False

Explanation:

Imprest payroll bank account is a separate account created in the business entirely to fund employee payroll use. This account is usually used only at month end when salaries of employees are to be paid. The funds in this imprest payroll account are withdrawn to pay the salaries.

1. Some businesspeople believe that elimination agents and wholesalers reduce their operating expenses. Discuss the opportunity costs associated with eliminating intermediaries.

Answers

1. While eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.

Eliminating intermediaries such as elimination agents and wholesalers reduce operating expenses, but it also has associated opportunity costs that businesses need to consider. One of the primary costs is the loss of the expertise and value-added services that intermediaries offer to businesses and customers. Eliminating intermediaries may result in businesses taking on additional responsibilities and expenses such as marketing, distribution, and logistics.

This may result in the need for additional staff and resources to ensure that products reach customers on time. Furthermore, eliminating intermediaries may also result in reduced customer access to products, as intermediaries are often responsible for finding new markets and customer segments. In this case, businesses may need to invest additional resources to market and promote their products to reach new customers.

In conclusion, while eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.

For more such questions on opportunity costs

https://brainly.com/question/30191275

#SPJ8

The gross domestic product of the United States is defined as the market value of all final goods and services produced within the United States in a given period of time.

Based on this definition indicate which of the following transactions will be included in the GDP of the United States, in 2021

Included or excluded:
1. An accountant starts a clients 2021 tax return on April 14, 2020 to finishing it just before midnight on April 15, 2022

2. Lane motors, a Japanese automobile company, produces a self driving car at a plant in Arizona on December 9, 2021 a family buys the self driving car on December 24

3. Thickburger a US fast food company produces a double cheeseburger at one of its many locations throughout the Midwest on January 14, 2021 is sells a double cheeseburger to a customer that same day

4. Cleancutters, or US number company, produces what are the plant in Oregon on September 25, 2021. It says the word to buildt and partners, a developer, for use in the production of a new house. I will be built in the United States in 2021.
(Note: focus exclusively on whether production of the word increases GDP directly, and ignore the effect of production of the new house on GDP)

5. Gamewear, a US electronics company, produce a VR headset auto plant in South Korea on March 27 2021. Gamewear imports, the VR headset into the United States on May 18, 2021.

Answers

Indicating the transactions  that will be included in the GDP of the United States, in 2021

1. Excluded

2. Included

3. Included

4. Included

5. Excluded

What are the transactions  that will be included in the GDP?

The transactions that involve the production of goods and services within the United States will be included in the GDP, while transactions that involve the production of goods and services outside the United States will be excluded.

Using this criteria:

The accountant's work on the tax return is a service and was performed over multiple years, so it would not be included in the 2021 GDP.

The production of the self-driving car by the Japanese company in Arizona and its sale to the family would be included in the 2021 GDP, as the production of the car took place within the United States in 2021.

The production and sale of the double cheeseburger by the US fast food company would be included in the 2021 GDP, as the production and sale of the burger took place within the United States in 2021.

The production of the word by the US company and its sale to the developer for use in the construction of a new house would be included in the 2021 GDP, as the production of the word took place within the United States in 2021.

The production of the VR headset by the US electronics company in South Korea and its import into the United States would be excluded from the 2021 GDP, as the production of the headset took place outside the United States.

Learn more about GDP here:https://brainly.com/question/1383956

#SPJ1

What are some benefits that the Shop Your Way Mastercard could provide to shoppers that ARE tied to rewards points, discounts, or saving money?

Answers

They are the competitive rewards of the benefits that the Shop way Mastercard could provide to shoppers that are tied to reward points, discounts, or saving money.

What is discounts?

The term discount refers to the provided the customer are the shopping in the bulk of the amount.  The discount was to attract the customer to more shopping. The discount was the main reason are the shopkeeper are the earn more amount of the money.

According to the benefits of the shoppers are the used the master cards such as discounts, saving money and the reward points are they attract to the customer are the shopping more and more and the benefits are the competitive rewards.

As a result, the competitive rewards of the benefits that the Shop way Mastercard could provide to shoppers that are tied to reward points, discounts, or saving money.

Learn more about on discounts, here:

https://brainly.com/question/3541148

#SPJ1

a US company owns 80% of interest in a company located on Mars. Martian currency is called The Martian credit during the year the parent company sold inventory that had a cost of 24500 to the subsidiary on account for 28,500 when the exchange was 0.519 to the subsidiary still held one half of the inventory and had not paid the parent company for purchase at the end of the physical year. The unsettled account is denominated in dollars the exchange rate at the fiscal year and was 0.4994 compute the amounts that would be reported for inventory and accounts payable in the subsidiary translated balance sheet the entities functional currency is the Martian credit

Answers

The amounts reported for inventory and accounts payable on the subsidiary translated balance sheet are 18,619 Martian credits and 14,217 Martian credits, respectively.

A US-based company that has an 80% stake in a Martian company has to report the assets, liabilities, and equity of its subsidiary on its consolidated financial statements in US dollars. The Martian currency is known as the Martian credit. During the year, the parent company sold inventory with a cost of 24500 to the subsidiary on account for 28,500 when the exchange rate was 0.519 to the subsidiary.

One-half of the inventory still belongs to the subsidiary, and at the end of the physical year, the subsidiary had not paid for the purchase.The account that remained unpaid is denominated in dollars, and the exchange rate was 0.4994 at the end of the fiscal year.

The functional currency of the company is Martian credit, and the dollar amount of the balance sheet needs to be translated into the Martian currency. In order to calculate the inventory and accounts payable, we will use the current rate method. The first step in the calculation is to find the closing rate of the Martian credit to the US dollar.Exchange rate at the fiscal year-end: $1 = 0.4994

Martian creditThe amount reported for inventory on the subsidiary translated balance sheet can be calculated as follows:

Beginning inventory: 12,250 (since the subsidiary still holds one half of the inventory)

Cost of inventory sold to the subsidiary: 24,500

Closing rate of the Martian credit to the US dollar: 0.4994

Martian credit reported inventory = (12,250 + 24,500) × 0.4994 = 18,619

Martian credits The amount reported for accounts payable on the subsidiary translated balance sheet can be calculated as follows:

Beginning accounts payable: 0Amount owed to parent company: 28,500

Closing rate of the Martian credit to the US dollar: 0.4994

Martian credit reported accounts payable = (0 + 28,500) × 0.4994 = 14,217 Martian credits

For more such question on inventory visit:

https://brainly.com/question/29636800

#SPJ8

What was the opening price of Dow Jones Industrial Average on Oct 12, 2018 in the format of XXXXX.XX?

Answers

The opening price of the Dow Jones Industrial Average on Oct 12, 2018 was 25,598.74.

What is the Dow Jones Industrial Average?

This is one of things known as stock market indexes that track the stock market prices of 30 large companies.

On Oct 12, 2018, this index had an opening price of 25,598.74 after having suffered a loss of 3.2% in the previous day's trading.

Find out more on the Dow Jones Industrial Average at https://brainly.com/question/24305023.

#SPJ1

The subsidiary of a U.S. corporation located in Country Y generated income of $1,000,000 on which it paid $400,000 (40%) in taxes to Country Y. The subsidiary paid a dividend to the U.S. parent of $54,000. How much tax is currently owed to the U.S. government if the federal tax rate is 35%

Answers

Answer:

The tax currently owed to the U.S. government is:

$18,900

Explanation:

a) Data and Calculations:

Income generated by the foreign subsidiary = $1,000,000

Tax paid by the subsidiary in its country of residence = $400,000

Dividend paid to the U.S. parent = $54,000

Federal tax rate = 35%

Tax on the dividend = $18,900 ($54,000 * 35%)

b) The dividend of $54,000 is a foreign-source income earned by a U.S. parent corporation.  This is this amount that will be subject to tax in the U.S. and not the net income of the subsidiary.

Kia's company pays its employees on Fridays . This accounting period ended on a Wednesday, so the employees will not be paid for the week for another two days. Kia needs to record an adjusting entry to record and why?

Answers

Kia's company pays its employees on Fridays. This is required because the firm must appropriately report its obligations on its financial accounts and the payment of salary is one of those liabilities.

What is adjusting entry?

Generally, An adjusting entry is a journal entry made at the end of an accounting period to correct or update the financial statements for items that have not been recorded or have been recorded incorrectly.

In this case, it sounds like Kia needs to record an adjusting entry to account for the fact that the employees will not be paid until two days after the end of the accounting period.

This is necessary because the payment of salaries is a liability of the company and the company needs to accurately reflect its liabilities on its financial statements.

Read more about adjusting entry

https://brainly.com/question/28867174

#SPJ1

The chart describes four peoples credit histories. Which person is credit worthy?

The chart describes four peoples credit histories. Which person is credit worthy?

Answers

The correct answer is Eesha

Explanation:

People are creditworthy if they are considered reliable payers, and therefore they are suitable to receive credits or loans. In general, a person is creditworthy if she/he has a positive credit history and owns assets because this indicates the person will pay the credit or loans.

In this context, Eesha is creditworthy because she displays a positive behavior in terms of credit because paying more than the minimum shows she will be interested in paying the credit in the shortest time possible, and therefore she is reliable for a credit. Also, other behaviors such as avoiding payments, paying only a few bills, etc. show the person is not creditworthy.

Question 4
The opposite of a good is a
O Good
O Service
O Wants
O Needs

Answers

the answer is service
Other Questions
the maturation of the frontal regions of the cerebral cortex allows infants to multiple choice question. Which of these is NOT a triptych?A) Portinari AltarpieceB) Merode AltarpieceC) Ghent Altarpiece.D) All of them are triptychs. In 2021, individuals with earned income who are age 50 or over are permitted to make an extra annual ira contribution of:________ a. $1,000 b. $2,000 c. $3,000 d. $4,000 Does the fact that YZ = WX lead to the proof that XYWZ is a parallelogram? Why or why not? Five cups of coffee cost 4.00 how much does 3 cups of coffee cost Write an equation in a slope-intercept form for the line described. parallel to y=4x+2, y-intercept at 4 rappers delight by the sugarhill gang was a replay of which popular disco record? group of answer a)choices funky b)drummer c)good times d)apache e_staying alive Most evenings Duarte spends 30 minutes playing chess with his dad.Write an equation for the number of minutes m, that Duarte spent playingchess with his dad if they played chess together e evenings. Use the numbers 1-6 to rank the Mesopotamian Empires in order of when theywere in power. The Assyrian EmpireThe Chaldrean EmpireThe PhoenicianThe Akkadian EmpireThe Sumerian Empire |The Persian Empire Does someone mind helping me with this problem? Thank you! A boy walks 58 feet up a ramp having a 22.5 degree inclination. how high is he standing from the ground? Putthe items in the correct order, starting with an action potentialin an axon of a sensory neuron.Value: 1 Put the items in the correct order, starting with an action potential in an axon of a sensory neuron: neurotransmitter difuses across synapse and binds 2 V receptors action potential travels KSolve the system of equations by substitution.2x + y = 6y = 4xPoints: 0 of 1SaveSelect the correct choice below and, if necessary,fill in the answer box to complete your choice.OA.There are a finite number of solutions. Thesolution set is(Simplify your answer. Type anordered pair.)B. There are infinitely many solutions. Thesolution set is {(x)}.(Simplify your answer. Type an expressionin terms of x.)OC. The solution set is . The following questions are about exponential and Gamma distributions. Question 6 1 pts Given the parameter, B = 1, and X is an exponential distribution, find P(X>0.5). Question 7 1 pts If we set a = 1 in the Gamma's distribution, which distribution we will get? Exponential None of these. Normal Uniform Question 8 1 pts X is a Gamma random variable with mean 3, and variance 5. Find a. Question 9 1 pts Use the same condition is question 8, find 8. Question 10 1 pts For a standard normal variable, Z, using Z table to find P(X>0.23). Which events are part of the road of trials in odysseuss heroic quest? select three answers. Joining the trojan war fleeing the lotus-eaters fighting the sirens facing charybdis and scylla battling the suitors learning humility and patience being reunited with penelope. In what ways did the US Government try to change Native American culture?1. It divided their tribal land up into individual territories2. It sent their children to English speaking boarding schools3. It created modern job training programs on reservations.4. It changed policies that stopped tribal practices.0 1 and 30 1 and 2O2 and 4O 3 and 4 CHOOSE ALL THAT APPLY!Ethan has set a long-term financial goal to own a coffee shop in ten years. He should break this goal into short-term goals. Which of the following goals is a good and useful short-term goal?A.I will save $100,000 in ten years.B.I will save $2,600 in one year by depositing $50 dollars per week in a savings account.C.I will save $100 per paycheck.D.I will attend college.E.I will earn a college degree in business from University of Vermont by the time I am twenty-two years old. explain the dream smp and the history of dream smp... Suma a 5 numere consecutive pare egale cu diferenta numerelor 397 si 327. Care sunt numerele?Va rog repede dau coroana.Cu intrebari si metoda figurativa clasa a ||| a You are meeting with your companys raw materials purchasing agents. As a group, you are discussing when raw materials orders should be placed based on production needs and supplier lead times. You have compiled the following production needs and lead time information: After you place an order for raw materials, the shipment usually arrives at your warehouse five days later. You determined that your production processes use about 300 units of raw materials per day. You want to keep your inventory carrying costs down and your supplier has a 100% on time-delivery rate. As a result, you decide to carry no inventory buffer. Based on the information presented and given your daily raw materials usage and the lead time for raw materials orders, what minimum units of raw materials inventory should your company maintain at all times?