The following adjusting entry for accrued wages was recorded on December 31: Dec. 31 Wages Expense 5,500
Wages Payable 5,500
a. Journalize the reversing entry that would be made on January 1 of the next period.
b. Assume that the first paid period of the following year ends on January 6 and that wages of $61,375 were paid. Journalize the entry to record the payment of the January 6 wages.
c. Journalize the entry to record the payment of the January 6 wages assuming that a reversing entry was not made on January 1.
d. What is wages expense for the period January 1–6?

When marietta chooses to only purchase a combination of goods that lie within her budget line, she: is decreasing utility. is maximizing utility. likely has negative savings. must reduce the quantity?

Navel county choppers, inc., is experiencing rapid growth. the company expects dividends to grow at 19 percent per year for the next 8 years before leveling off at 5 percent into perpetuity. the required return on the company’s stock is 10 percent. if the dividend per share just paid was $1.52, what is the stock price?

Suppose that xtel currently is selling at $40 per share. you buy 500 shares using $15,000 of your own money, borrowing the remainder of the purchase price from your broker. the rate on the margin loan is 8%. a. what is the percentage increase in the net worth of your brokerage account if the price of xtel immediately changes to (a) $44; (b) $40; (c) $36? (leave no cells blank - be certain to enter "0" wherever required. negative values should be indicated by a minus sign. round your answers to 2 decimal places.) b. if the maintenance margin is 25%, how low can xtel’s price fall before you get a margin call? (round your answer to 2 decimal places.) c. how would your answer to requirement 2 would change if you had financed the initial purchase with only $10,000 of your own money? (round your answer to 2 decimal places.) d. what is the rate of return on your margined position (assuming again that you invest $15,000 of your own money) if xtel is selling after one year at (a) $44; (b) $40; (c) $36? (negative values should be indicated by a minus sign. round your answers to 2 decimal places.) e. continue to assume that a year has passed. how low can xtel’s price fall before you get a margin call? (round your answer to 2 decimal places.)