BUSINESS HIGH SCHOOL

Assume that the City of Juneau maintains its books and records to facilitate the preparation of its fund financial statements. The City pays its employees bi-weekly on Friday. The fiscal year ended on Wednesday, June 30. Employees had been paid on Friday, June 25. The employees paid from the General Fund had earned $90,000 on Monday, Tuesday, and Wednesday (June 28, 29, and 30). What entry, if any, should be made in the City’s General Fund?

Answers

Answer 1

Answer:

Answer:

Explanation:

The journal entry is shown below:

Wages and Salaries Expenses A/c Dr $90,000

To Wages and Salaries payable $90,000

(Being salary are paid to the employees)

In the given question, cash transaction is not involved so we credited to the wages and salaries payable and since salary is paid so it is an expense that's why we debited it.

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Can I get some help with these questions?1. The country has entered a period of economic growth, but prices are rising too rapidly. To stabilize prices, the Federal Reserve decides to

A) decrease the federal funds rate
B) decrease the reserve requirement
C) raise the discount rate
D) buy more government securities

2. Mark washes his jeans and finds that the $20 bill that was in his pocket is in four pieces. He takes the four pieces to the bank and receives a nice crisp $20 bill. What function of money does this illustrate?

A) Measure of value
B) Medium of exchange
C) Divisibility
D) Store of value

3.A free trade agreement lowers restrictions on trucking across International borders. Which of the following would be a negative externality for the local environment?

A) Higher costs for domestic goods
B) fewer imports of renewable resources
C) more water consumption
D) an increase in air pollution

Answers

The right answer for the question that is being asked and shown above is that: "D) buy more government securities."

The right answer for the question that is being asked and shown above is that: "B) Medium of exchange."

The right answer for the question that is being asked and shown above is that: "B) fewer imports of renewable resources"

Which of the following is not a cabinet position?a: Vice President
b: Attorney General
c: Ambassador to the United Nations
d: Secretary of Treasury

Answers

C: Ambassador to the United Nations is not a member of the cabinet

The vice president is not a cabinet position. He/she is selected by the presidentail nominee and does not require approval by the senate or the house.

What is the cheif reason why a person would become a supervisor?A. motivation
B. confidence
C. work-related knowledge
D. personality

Answers

The right answer for the question that is being asked and shown above is that: "C. work-related knowledge." the chief reason why a person would become a supervison is that of work-related knowledge .

Answer:

The Correct Answer is C

Explanation:

The principal purpose a person enhances a supervisor is

A. motive.

B. courage.

C. work-related knowledge.

D. character

the result is C because all of the different things a personality can have and yet not be a supervisor.

A supervisor observes that they can manage an administration. so that is why they grow as a supervisor

Which statement is true? A. Emergency managers only need to be concerned with cross-cultural communication.
B. Communication is not affected by geographic area of the country.
C. Gestures that Americans take for granted can be offensive to others.
D. All people who live in the United States communicate in the same way.

Answers

I think it can be the "D"

Sam traded a parcel of land for a tractor and a car. He had purchased the land five years earlier for $16,000. The market value of the car and tractor is $20,000. What is the amount of gross income resulting from this transaction?

Answers

Answer:

$4,000

Explanation:

Sam's gross income from this transaction can be calculated by subtracting the price of the car and the tractor from the cost basis of the land.

Sam's gross income = cost basis of land - price of car and tractor = $20,000 - $16,000 = $4,000

In this case Sam's gain should be considered capital gains since it is a gain made from the selling investments that are held for more than 1 year.

Final answer:

The gross income from the transaction where Sam traded his land (originally bought for $16,000) for a tractor and car (worth $20,000) would be $4,000. This is calculated by subtracting the initial purchase price of the land from the market value of items received in return.

Explanation:

Based on the information given in your question, it seems like we're trying to calculate the gross income that resulted from Sam's sale of land. Gross income is essentially the net sales minus the cost of goods sold; in this case, the 'goods' are the land. So, you simply subtract Sam's original purchase price of the land ($16,000) from the later sale price (or market value) of the car and tractor he got in exchange ($20,000)

So, you calculate it as follows:

First, recognize the market value of the goods received in return for the land - in this case, the car and tractor, which amount to $20,000.
Then, subtract the initial purchase cost of the land - the $16,000 that Sam paid for it five years ago.
This leaves us with $20,000 - $16,000 = $4,000.

Therefore, Sam's gross income from this whole transaction is $4,000.

Learn more about Gross Income here:

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In contrast to a capitalist society, how does a persons income function in a socialist society?

Answers

A persons income functions similarly in both capitalists and socialist societies today. "Socialism" as an idea or theoretical economic model has not been fully implemented in most societies that use some socialist concepts. In European countries like France, Sweden, or Denmark they use both principles of capitalism and socialism. In that they are integrated into the global economy and take part in trade and also regular business they are capitalists, however, they have large social protections in the form of government services etc. which are paid for with high taxes. The major difference in incomes in these two systems are that in capitalist societies tend to have lower taxes than socialist societies, but give less state services or welfare than socialist societies.

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