FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

December 31, 2020 company has reported $35,000 salary and wages expenses and income statement and $2000 salary and wages payable in balance sheet during 2020

December 31, 2020 company has reported $35,000 salary and wages expenses and income statement and $2000 salary and wages payable in balance sheet during 2020 company paid 34,800 and salaries and wages. What was the balance in salaries and wages payable at the start of the year on January 1, 2020

Step by Step Solution

★★★★★

3.44 Rating (167 Votes )

There are 3 Steps involved in it

Step: 1

To determine the balance in salaries and wages payable at the start of the year on January 1 2020 we ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Accounting questions

Question

★★★★★
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...

Answered: 1 week ago

Question

★★★★★
Bytes (Pty) Ltd (Bytes or the company is a manufacturer of laptops. Bytes is a resident of the Republic and is not considered to be a small business corporation. The company has a February financial...

Answered: 1 week ago

Question

★★★★★
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...

Answered: 1 week ago

Question

★★★★★
Consider the points P(1, 2, k) and Q(2,-1, 1) and let u be the equivalent vector to the directed line segment PO. If us = 2, what is the value of k? A-1 OB. 1 OC2 D. 3 O EO

Answered: 1 week ago

Question

★★★★★
Matchbox Company issues 6%, four-year bonds, on December 31, 2011, with a par value of $100,000 and semiannual interest payments. Use the following straight-line bond amortization table and prepare...

Answered: 1 week ago

Question

★★★★★
Prepare a balance sheet using the following information for the Ginger Company as of March 31, 2019. Accounts payable Cash Ginger Ale, Capital Mar. 1 Inventory Wages payable Sales Product expenses...

Answered: 1 week ago

Question

★★★★★
6.12 A normal random variable x has mean = 10 and standard deviation = 2. Find the probabilities of these X-values: a. X> 13.5 b. X Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★
Your broker suggests that the stock of QED is a good purchase at $25. You do an analysis of the firm, determining that the $1.40 dividend and earnings should continue to grow indefinitely at 8...

Answered: 1 week ago

Question

★★★★★
Suppose that you decide to buy 100 shares of Tesla, currently selling for $320/share, and give your broker $20,000 to establish your margin account. If the maintenance margin is 30%, how low can...

Answered: 1 week ago

Question

★★★★★
Perfect Parties, Inc. has several divisions, one of which provides birthday parties at their facility, and has provided the actual and planning budget results for the month of June. The Controller...

Answered: 1 week ago

Question

★★★★★
Evaluate the following integral where R is the region in quadrants 1 and 4 bounded by the semicircle of radius 10 centered at 0 0 SS xy da n

Answered: 1 week ago

Question

★★★★★
Q1: What are the main financial statements, and what information do they provide? Q2: Why is the cash flow statement important, and how does it differ from the income statement?

Answered: 1 week ago

Question

★★★★★
Q1: What are Generally Accepted Accounting Principles (GAAP)? Q2: What is the difference between GAAP and International Financial Reporting Standards (IFRS)?

Answered: 1 week ago

Question

★★★★★
Q1: What is cost accounting, and why is it important for businesses? Q2: Explain the difference between fixed costs and variable costs with examples.

Answered: 1 week ago

Question

★★★★★
Q1: What is deferred tax, and how is it accounted for? Q2: Explain the difference between tax avoidance and tax evasion.

Answered: 1 week ago

Question

★★★★★
Q1: What is the purpose of an audit, and what are the types of audits? Q2: What are internal controls, and why are they important in the auditing process?

Answered: 1 week ago

Question

★★★★★
The Las Vegas plant of HeyRebCola!Company LLC produces delicious cola soda. At the beginning of the year, the Las Vegas plant had the following standard cost sheet per jug of cola soda: Direct...

Answered: 1 week ago

Question

★★★★★
Determine the volume of the parallelepiped of Fig. 3.25 when (a) P = 4i 3j + 2k, Q = 2i 5j + k, and S = 7i + j k, (b) P = 5i j + 6k, Q = 2i + 3j + k, and S = 3i 2j + 4k. P

Answered: 1 week ago

Question

★★★★★
Walter, a single taxpayer, purchased a limited partnership interest in a tax shelter in 1985. He also acquired a rental house in 2012, which he actively manages. During 2012, Walter's share of the...

Answered: 1 week ago

Question

★★★★★
Steve Jackson (age 51) is a single taxpayer living at 3215 Pacific Dr., Del Mar, CA 92014. His Social Security number is 465-88-9415. In 2012, Steve's earnings and income tax withholding as the...

Answered: 1 week ago

Question

★★★★★
Olive Corporation was formed and began operations on January 1, 2012. The corporation's income statement for the year and the balance sheet at year-end are presented below. The corporation made...

Answered: 1 week ago

Question

★★★★★
6.31. Refer to the previous exercise. (a) Find P(Type II error) if /x 5. How does P(Typc II error) depend on the value of fx"? (b) Find P(Typc II error) if/x = 10 and a = 0.01. How does P(Type II...

Answered: 1 week ago

Question

★★★★★
6.28. A decision is planned in a test of Hq: /x = 0 against Ha: fx > 0, using a = 0.05. If /r = 5, P(Type II error) = 0.17. (a) Explain the meaning of this last sentence. (b) If the test used a =...

Answered: 1 week ago

Question

★★★★★
6.41. In the 1990s, the U.S. Justice Department and other groups studied possible abuse by Philadelphia police officers in their treatment of minorities. One study, conducted by the American Civil...

Answered: 1 week ago

Previous Question Next Question