Question: Question 1 (10 marks) Ace Accounting's controller, John Ace, hired an assistant, Annette Black. While guiding her in financial statement preparations, John Ace encountered opposition

assistant, Annette Black. While guiding her in financial statement preparations, John Ace

Question 1 (10 marks) Ace Accounting's controller, John Ace, hired an assistant, Annette Black. While guiding her in financial statement preparations, John Ace encountered opposition from Annette Black. She disagreed with making an adjusting journal entry at December 31 year end to accrue staff bonuses, as the bonuses were not paid. She wanted to wait until the staff bonuses were paid in February to record the bonuses. Her reasoning was that the results would be identical. Required: Write a business memo to explain to Annette Black why the adjusting journal entry to accrue the staff bonuses is or is not required. The format of the business memo should be the following: DATE: (fill in) TO: (fill in) FROM: (fill in) SUBJECT: Why the adjusting journal entry for staff bonuses is or is not required Question 1 (10 marks) DATE: TO: FROM: SUBJECT: Why the adjusting journal entry for staff bonuses (choose: is/is not) required Page 1 of 9 106 words DEX Foc

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Entries into T accounts and Trial Balance Marjorie Knaus, an architect, organized Knaus Architects on January 1, 20Y4. During the month, Knaus Architects completed the following transactions: a....

Question 1 (10 marks) Ace Accounting's controller, John Ace, hired an assistant, Annette Black. While guiding her in financial statement preparations, John Ace encountered opposition from Annette...

Question 1 (10 marks) Ace Accountings controller, John Ace, hired an assistant, Annette Black. While guiding her in financial statement preparations, John Ace encountered opposition from Annette...

Please answer without any plagiarism. Question 1 (10 marks) Ace Accounting's controller, John Ace, hired an assistant, Annette Black. While guiding her in financial statement preparations, John Ace...

Question 1 110 marks) Ace Accounting's controller, John Ace, hired an assistant, Annette Black. While guiding her in financial statement preparations, John Ace encountered opposition from Annette...

Hi-tecpoint V/Grip Question 1 (10 marks) ACE Acumen Academy Complete the gaps in the following table: Capital Question 40 Complete Assets Liabilities S (a) 12,500 1,800 2- (b) 28.000 4,900 12,500 (c)...

PD ACCA Assessment resto + Automatic Loom 2 marks its objectives? Dud Bank Ltd had appointed a receiver to recover the money owed by Auzzie Loans Phy Lid. The appointed receiver took control of the...

Question 1 (10 marks) Required: For the following transactions, identify which principle, constraint, or assumption would apply: A.Assume a partnership's business is going to continue indefinitely....

For the following transactions, identify which principle, constraint, or assumption would apply: Assume a partnerships business is going to continue indefinitely. Based upon the dollar amount of cash...

a) (10 marks) You own 100 sh that will pay 5$ in one yr and 15$ in 2yrs. Calculate the current value of your shares if the discount rate is 12% pa. You would prefer equal dividends in both years....

ACE Acumen Academy Question 1 (10 marks) Complete the gaps in the following table: Assets Liabilities $ $ Capital $ (a) 12,500 1,000 ?= (b) 28,000 4,500 ?= (c) 16,800 ?= 12,800 (d) 19,600 ?= 16,600...

Dennison Manufacturing makes large helical springs used in aircraft landing gear. The company has narrowed its potential choices for its new manufacturing facility to four cities. The following...

Devise a state space in which A* using GRAPH-SEARCH returns a suboptimal solution with an h(n) function that is admissible but inconsistent.

ABC Company uses direct - labor hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $ 2 2 4 , 0 0 0 based on 1 8 , 0 0 0 direct...

Hypothesis Testing of a Single Mean LCTCS Tuition: Louisiana Community And Technical College System consist of 2 community colleges across the state. I think RPCC's tuition and fees is lower than the...

A Do you think virtual reality simulations would be helpful aids in preparing for public speaking? Whom might they help more, individuals with moderate speech anxiety or severe speech anxiety?

C If a speaker has a strong regional accent, should he or she try to lessen it when speaking publicly? Are there any public speaking situations where a strong regional accent might be beneficial?

B What are the benefits of practicing in front of a virtual audience? How would it compare to a real one?