On December 31, Year 1, Gaskins Co. owed $4,500 in salaries to employees who had worked during December but would be paid in January. If the year-end adjustment is properly recorded on December 31, Year 1, what will be the effect of this accrual on the following items for Gaskins? Net Income Cash Flow from Operating Activities A. No effect No effect
B. Decrease No effect
C. Increase Decrease
D. No effect Decrease

Answers

Answer 1
Answer:

Answer:

B. Decrease No effect

Explanation:

As for any financial year when there is any outstanding liability then that liability is increased, for current year.

Provided, salary for the month of December is to be paid in January next year.

Therefore on accrual basis the expense will be added to current year which will decrease net income of current year.

Now talking about cash flow, under direct method it will not be considered as no cash payment is involved and in case of indirect method,

net income will be considered where salary expense is deducted,

Further increase in outstanding liability of salary, is added to operating activity as increase in current liability is added to operating cash flows.

Correct option therefore, is

B. Decrease No effect


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Answers

Answer:

The correct option is C

Explanation:

The development is the term which is described as the change in the country economic from a low income national economy to the one which is modern. This states both the improvement in terms of quantity and quality, it means not in terms of only general wealth of the population increases but at the same their standard of living also increases or become better.

When selecting a career you should consider all of the following, EXCEPT: a. what others think b. your skills and interests c. desired lifestyle d. how much education is required

Answers

When selecting a career you should consider all of the following except  what others think Option(a) is correct.

What is a Career?

The career is a person's allegorical "venture" through learning, work and different parts of life as and when required.

A career can be characterized as the succession and assortment of occupations embraced for a critical time of an individual's life and with valuable open doors for progress. All the more extensively, 'career ' incorporates life jobs, relaxation exercises, learning.

There are many advantages to having a career reason. In the first place, it will move you to do and be more in your work, which will illuminate you and make your life wake up. You'll gain more headway in your career as well, since you're locked in and keen on the thing you're doing.

Career objectives are targets. Things, positions, circumstances connected with your expert life that you have focused on accomplishing. They can be present moment, such as getting an advancement or certificate, or they can be long haul.

Therefore Option(a) is correct.

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A) what others think. Your career is a part of your life, not theirs. You should follow your gut when choosing your occupation, and do what YOU want. You are in control of your career, and whether it will be a successful one.

A single point is about 1/32 of one inch in height in excel

Answers

A single point is about 1/32 of one inch in height in excel. The statement that is being presented is FALSE. A single point is not equal to 1/32 of an inch. A single point is a typographical term for a unit of measure. It is roughly equivalent to 1/72 of an inch. 

Under the federal income tax withholding law, which of the following is not defined as an employee? a.Governor of the state of Florida b.Secretary employed by a not-for-profit corporation c.Partner who draws compensation for services rendered the partnership d.Payroll clerk hired one week ago e.General manager, age 66

Answers

Answer:

B

Explanation:

Secretary employed by a not-for-profit corporation

Explain briefly what is national federation of independent business v. sebelius

Answers

National Federation of Independent Business v. Sebelius is a landmark case in the United States Supreme Court that dealt with the constitutionality of the Affordable Care Act (ACA) of 2010, also known as Obamacare.

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The court also limited the reach of the Commerce Clause of the Constitution, which was used to justify the individual mandate.The case had significant implications for healthcare policy and constitutional law in the United States. It cemented the ACA as a cornerstone of American healthcare policy and established limits on the federal government's power to regulate commerce.

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Geoff rents an apartment with a monthly rent of $850. He owns the furniture in the apartment, which is worth $3,500, and he owns his car, which is worth $6,000. Geoff has a balance of $1,225 on his credit card and has $3,560 in a savings account.

Answers

Answer:

D. the credit card

Explanation:

took test on edge 2021

Are you asking about the total costs of living that Geoff have?
He owns a furniture in the apartment which is worth 3500 dollars and car which is worth 6000 dollars
=> 3500 + 6000 = 9500 dollars.
He also have a savings of 3560 dollars
=> 9500 + 3560 = 13,060 dollars.
now, he pays 850 dollars for rent and 1225 dollars for his credit card
=> 1225 + 850 = 2075
=> 13,060 dollars. - 2075= -10985 dollars.