Janet has a company that pays all employees a salary on the first and the fifteenth of the month
Her normal payroll is $10,000 per pay period. On the last day of the month she would have
shown
A) $10,000 as cost of goods sold on the income statement.
B) $10,000 as payroll payable on the balance sheet.
C) $10,000 as a cash flow from operating expenses on the statement of cash flows.
D) $10,000 as an operating expense under salaries on the income statement.
B
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Path-goal theory is ______.
A. descriptive B. prescriptive C. leader centered D. follower centered
Accrued revenues would normally appear on the balance sheet as
a. plant assets. b. current liabilities. c. long-term liabilities. d. current assets.
Modesto, Inc leased machinery with a fair value of $250,000 from Layton Machine Co on December 31 . 2014 . The contract is a six-year noncancelable lease with an implicit interest rate of 1 . percent. The lease requires annual payments of $50,000 beginning December 31 . 2014 . Modesto appropriately accounted for the lease as a capital lease. Modesto's incremental borrowing rate is 1 . percent
Assuming the present value of an annuity due of 1 for 6 years at 1 . percent is 4.7908 and the present value of an annuity due of 1 for 6 years at 1 . percent is 4.6048, what is the lease liability that Modesto should report on the balance sheet at December 31 . 2014? a. $189,540 b. $200,000 c. $230,240 d. $239,540
Emerging public issues are both a risk and an opportunity.
Answer the following statement true (T) or false (F)