JUNIOR Company Inc. has 10 non-exempt employees paid biweekly seven days after the end of the pay period. In December 2022, employees were paid on the 9th and 23rd. Because ABC Company operates on accrual basis accounting, which of the following reflects the entries required to capture gross wages accurately in the month of December 2022?

-One entry debiting Cash and crediting Wage Expense and Payroll Liabilities and one entry debiting Wage Expense and crediting Payroll Liabilities for 31 days of wages.

-Two entries debiting Payroll Liabilities and crediting Wage Expense and one entry debiting Wage Expense and crediting Cash for 8 days of wages.

-Four entries debiting Wage Expense and crediting Payroll Liabilities.

-Two entries debiting Wage Expense and crediting Cash, one entry debiting Wage Expense and crediting Payroll Liabilities for 15 days of wages, and one entry debiting Payroll Liabilities and crediting Wage Expense for 12 days of wages.

2).

Arbitrary Inc has a fixed asset threshold of $2,500 per item. They purchase 5 computers for $10,000. How should that purchase be treated?

-Add 5 computers to the fixed asset account for $2,000 each and depreciate over their life

-Add 4 computers to the fixed asset account for $2,500 each and depreciate over the estimated life

-Add 1 item to the fixed asset for $10,000 and depreciate over the estimated life

-Fully expensed at the time of the purchase

3).

Which is an example of investing cash flow?

Paying off a debt of $50,000

Purchasing office furniture worth $25,000

Paying holiday bonuses of $10,000

Issuing $42,000 worth of shares