I have a couple of questions. Please answer clearly, no typos and thoroughly. Thanks!1) What are accrual adjustments and defferal adjustments? When and how do you make them?2) What is the difference between Wages Expense and Wages Payable. When and how are they used and on what statement3) Are they CR or DR and Real or Nominal

Q: Which of the following are not expenses? * O Cost of goods sold Wages earned but unpaid O Dividends…

A: Expenditure is the transfer of capital or some other source of wealth, to another individual or…

Q: If a company incorrectly records a payment as an asset, rather than as an expense, how will this…

A: Payments are made against the goods or services received. Hence, it is recorded as an expense.

Q: How to calculate salaries payable

A: Salaries payable can be defined as the liability account containing the amount of salaries, if any,…

Q: How to calculate FIT on payroll register? What is the equation or numbers I am supposed to use to…

A: Before calculating payroll taxes, the employees will need to complete these new employee documents,…

Q: a) Write a function that transforms the old annual salary, S, into the new annual salary, N. b) Does…

A: Suppose the old salary be x dollars Since each employee is given a 6% cost of living and $2000…

Q: What is the difference between a nominal account and a real account?

A: The various accounts in the business are classified as personal accounts, real accounts, and nominal…

Q: What would be the effect on the balance sheet if the adjustments for unbilled fees and accrued wages…

A: Balance sheet:   Balance sheet is a summary of assets, liabilities, and equity account that reports…

Q: hat is the doubtful accounts expense for the year 2021? 2. What is the net realizable value of the…

A: A certain percentage of expected uncollectible amount is derived through historical analysis of the…

Q: 1. How much will the Uncollectible account expense for the year be? 2. What will the final balance…

A: There are many methods for the calculation of the Uncollectible expense , Generally these are…

Q: when the company paid the wages payable in the next period the wages payable A/C will be in the…

A: Solution Note : As per the Q&A guideline we are required to answer the first question only .…

Q: hat is the difference between a nominal account and a real account?

A: Accounting transactions for a separate fiscal year are recorded in a nominal account. Accounting…

Q: a) Please give a different example of accruals, and write a numeric example for it with accounting…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: how do you do paycheck calculations

A: Paycheck means the payment of the salary or wage to employee. A paycheck is a traditional document…

Q: What is a prepaid expense and where is it reported in the financial statements?

A: Prepaid expense:   Prepaid expenses are any expenses that is paid before it becomes due. A prepaid…

Q: .Account titles of liabilities often include the term “payable.” b.Liabilities are debts owed to…

A: Liabilities-: A liability is the sum of the amount or a thing that a person or corporation owes,…

Q: 2. Explain the distinction between permanent and temporary earnings as it relates to the concept of…

A: Earnings quality refers to the ability of reported earnings to estimate a company future earnings.…

Q: accrued salaries at the end of the period is inadvertently omitted, both liabilities and…

A: Journal entry: Journal entry is the book of original entry where first transactions are recorded in…

Q: Are paid salaries an increase, decrease or no effect on asset, liability and equity

A: Accounting equation is the one which is considered as the double entry accounting system foundation…

Q: Hello! I am very confused on how to properly journal these entries because accrued versus paid. I…

A: Accrued expenses are a part of liability of the balance sheet, these expenses are incurred but not…

Q: Select one of the following short-term (current) liabilties and describe some of the accounting…

A: Account Payable Account Payable is a short-term debt. It is define as the liability for the company,…

Q: Which of the following items represents a deferral?A. Prepaid insuranceB. Wages payableC. Fees…

A: In accounting, deferral means to defer or delay recognizing certain revenues or expenses…

Q: Vhich of the following statements about adjusting for accruals is false? It will increase the values…

A: The accrued expenses are the expenses incurred but not paid yet. The accrued revenue is the revenue…

Q: Would a change from Completed Contract to Percentage of Completion be a change in accounting…

A: Change in accounting principle means that change in how financial information is calculated, while…

Q: Which of the following defines outstanding salary account? [A] natural personal account [B]…

A: Outstanding salary refers to the amount which a business has to pay to persons, employees for…

Q: ompany can not rely on net income as a valid measure to pay fixed charges

A:

Q: What amount should be reported as doubtful accounts expense for the current year?

A: Step 1 Under aging method of estimating allowance for doubtful accounts, a percentage of accounts…

Q: What is referred by unearned income? How is it adjusted in the final accounts?

A: Unearned income:Unearned income is known as deferred income or deferred revenue. It is the money…

Q: Which account is least likely to appear in an adjustingjournal entry?a. Cashb. Interest Receivablec.…

A: Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year,…

Q: hey why doesnt the adjusted trial balance have a retained earnings section?

A: It shows the final ledger account balances that will be presented further on financial reports.

Q: a.   The adjustment for accrued wages of $5,410 was journalized as a debit to Wages Expense for…

A: Adjusted Trial Balance:   Adjusted trial balance is a trial balance prepared at the end of a…

Q: Why are some accounts "temporary" and others are "permanent?" How does this relate to the financial…

A: There are two types of account namely permanent account and temporary account.   Permanent accounts…

Q: Which of the following questions cannot be answered when analyzing the information presented in an…

A: Answer: Income statement is the statement which shows the profit or loss when the revenue and…

Q: One of the staff members asks you to explain the difference between the terms gross and net on the…

A: An employee gets compensated for the service by the employer. The employee receives a basic salary,…

Q: this is an account title for an income collected or received in advance and is not yet considered as…

A: Under the accrual accounting system, revenues are recognized when the service or goods are…

Q: How do accrued but unpaid expenses affect the balance sheet?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Which account is debited when the net wages of the employees are paid? Select one: O A. Wages о В.…

A: The expenses are o be debited and revenues are to be credited in the journal.

Q: What is the purpose of the adjusting journal entries?

A: “Since you have asked multiple questions, we will solve the first question for you.  If you want a…

Q: Can somone help me with cost of good chart, rent expenses chart wages expense and interest expenses.

A: Ledger accounts are used to classify the journal entry transactions into accounts like expense…

Q: GROSS PAY is pay before any deductions are taken. Your answer: O True O False

A: An individual works for an employer to generate salary revenue and to advance in his career. The…

Q: 2. How do non-GAAP earnings relate to the concept of earnings quality?

A:

Q: What is the difference between: Salaries and wages expense on the income statement And Salaries and…

A: The income statement and balance sheet are the financial statements of the business.

Q: In the following liabilities, the payee is known, however, the amount may have to be estimated.…

A: provision should be created for all the certain liabilities

Q: The current ratio is useful in determining a company’s ability to pay obligations when they…

A:

Q: When we get the expense bill, would we credit A/P or Utilities payable?

A: Journal: Recording of a business transactions in a chronological order.