This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the physical count of inventory is more than the amount on the accounting records, what account ... (Read 190 times)

beccaep

  • Hero Member
  • *****
  • Posts: 535
on: Jul 6, 2018
If the physical count of inventory is more than the amount on the accounting records, what account is debited?
 a. Merchandise Inventory
   b. Cost of Goods Sold
   c. Sales
   d. Misc. Expense

Question 2

Assume that General Fund employees accrued 125,000 of compensated absences liability during the year.
 
  Compensated absences liability, which is considered to be a long-term liability, decreased 30,000 from the beginning of the year to the end of the year. The fund also actually paid 550,000 in salaries and wages during the year. At the end of the fiscal year, salaries and wages payable was 12,000 . The General Fund would report salaries and wages expenditures for the year of
  A. 532,000.
  B. 550,000.
  C. 562,000.
  D. 592,000.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jordangronback

  • Sr. Member
  • ****
  • Posts: 339
Reply #1 on: Jul 6, 2018
Answer to Question 1

a

Answer to Question 2

A


beccaep

  • Hero Member
  • *****
  • Posts: 535
Reply #2 on: Jul 6, 2018
Correct answers!


jordangronback

  • Sr. Member
  • ****
  • Posts: 339
Reply #3 on: Jul 6, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Patients with physical special needs, such as a wheelchair, need to have this documented in their he Patients with physical special needs, such as a wheelchair, need to have this documented in their he
Evaluation of a child for cystic fibrosis with a sweat chloride test. Sweat is being collected under Evaluation of a child for cystic fibrosis with a sweat chloride test. Sweat is being collected under
physical exam physical exam
Physical fitness is part of an emerging value cluster. Physical fitness is part of an emerging value cluster.
The relation between the physical and perceptual dimensions of sound. The relation between the physical and perceptual dimensions of sound.
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
Video: Appendicitis Animation

For a complete list of videos, visit our video library