Who among the following uses accounting information to know the possible wage increments? O a. Employees O b. Bankers O c. Owners O d. Customers

Q: How does the time period assumption affect an accountant's analysis of business transactions ?

A: Time period assumption state that business organizations are required to prepare and present their…

Q: What are some accounting-related professions?

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

Q: Who among the following uses accounting information to know the possible wage increments? O a.…

A: The main purpose of accounting information is to circulate the information to the relevant…

Q: How to calculate salaries payable

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

Q: I have a couple of questions. Please answer clearly, no typos and thoroughly. Thanks!1) What are…

A: Step1: Accrual adjustment. We have,Accrual adjustment is made when expenses should be reported for…

Q: Money paid by a company to help cover needed and unforeseen expenses

A: Insurance are the protection for unseen events. It is a measure  used for hedging against the risk.…

Q: Identify the TWO accounts in 'Accounting Equation' for "Salary paid to employees"? O a. Employees…

A: Assets = Liabilities + owner's equity Here, liabilities = salary payable to the employees Assets =…

Q: Office expense Miscellaneous Wages expens Everett McCau Common stock

A: Paradise Travel…

Q: The following are users of fi nancial statements. ________Customers ________Securities and Exchange…

A:

Q: Statement 1: Compensation income refers to all income payments, in money or in kind, arising from…

A: Compensation refers to the cash as well as non-cash payments made by the employer to their employees…

Q: An entity classifying expenses by function shall disclose additional information on the nature of…

A: Solution: An entity classifying expenses by function shall disclose additional information on the…

Q: How do companies account for and record payroll, and what journal entries do they use ?

A: Payroll Accounting is the branch study of accountancy in which the transactions related to payroll…

Q: Which of the following a. payroll, taxes, and insurance b. depreciation, rent and utilities C.…

A: Revenue are the proceeds of goods and services it includes sales , interest earned, service revenue…

Q: The net income or net loss reported on the income statement must be the same as the net income or…

A: A Worksheet is a multi-column spreadsheet that contains the ending balances of all general ledger…

Q: hich of the following is managed by an accounting department's dministrator? O A. bills and expense…

A: Accounting department refers to the corporate overhead group part of the firm and this department is…

Q: External users of fi nancial accounting information includeall of the following except:a. Investors.…

A: External Users:   The external users are the users of the information who are outside the…

Q: Net Pay is: Group of answer choices credited to Salaries Payable. Credited to Salaries Expense.…

A: Correct answer in 'Credited to Salaries Payable.'

Q: Which of the following accounts does a manufacturing company have that a service company does not…

A: Cost of Goods Sold:  Cost of goods sold means the direct costs related to the production of the…

Q: For financial accounting purposes, the salary of Lake Company’s president is classified as…

A: Period costs: Period costs are the costs other than the product costs. These costs are not incurred…

Q: When employees choose a company through financial statements, which parts ，point  and ratio should…

A: Financial statement: Financial statements are organized summaries of detailed information about the…

Q: Prepare an income statement and Balance sheet with your imaginary figures on historical cost basis…

A: 1) Imaginary Trail Balance  Trail Balance of XYZ Ltd as on 31 Dec 2020 Particulars  Amount…

Q: Describe the cost and basic accounting activities related to payroll ?

A: Payroll accounting is just recording the payroll expenses of a business into the final ledger.

Q: As An accountant, how would you use lay off decisions

A: Accountant refers to a person who professionally performs accounting measures such as accounting…

Q: Compute the gross earnings of each employee.

A: Gross earnings to an employee are the earnings which are earned by the employee from the company or…

Q: What is salaries payable an equity, revenue, expense account, liability or expense?

A: Balance Sheet - Balance Sheet is combination of assets, liabilities and equity. It is prepared at…

Q: Record the emplovee salary expense, withholdings, and salaries pavable.

A: Particulars…

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: Accrued salaries decreases the liabilities of the company under the salaries payable account * O…

A: Accrued Salaries :  a) Accrued salaries means salaries which is required to be payable to the…

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: s an accountant how would I use hiring decisions

A: Hiring Decision refers to decisions that are taken while hiring personnel.  For effective hiring…

Q: Question 1: What should an employer use to complete Form W-3? Answer: A. O Employee earnings records…

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

Q: How do the Accountants measure the net income of a specified operating period?

A: Net income: The bottom line of the income statement which is the result of excess earnings from…

Q: Accounting provides information on   (A) Cost and income for managers   (B) Company’s tax…

A: Accounting is the method of recording and maintaining of books of accounts of a entity.

Q: Who among the following uses accounting information to know the possible wage increments? Bankers b.…

A: Employees use the accounting information to know about the wage increments about the business…

Q: yment for a company’s office building?

A: Operation related checking account. Rent payment is an expense for company. Rent expense treated as…

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 employment income of an individual is reported on ________ slip, while investment income are…

A: Investment income is money received in interest payments, dividends, capital gains realized with the…

Q: Are any time lags in recording economic events typically experienced in payroll systems? If so, what…

A:

Q: A debit to the FICA Taxes Payable accounta.  results in an increase in the cash account of the…

A:

Q: What is the role of accountant in setting the price of the goods or services?

A: Price of product shows the amount of product that the seller is willing to offer to the buyer.

Q: 1. Accounting furnishes data on, A. income and cost for the managers B. financial conditions of…

A: Accounting is the process of recording financial transactions pertaining to a business. The…