Suppose that during the first year of business $100,000 of wage costs were incurred; $90,000 were paid in cash to employees; and the remaining wages will be paid to employees on January 3 of the coming year, the next payday. What account title and amount will be reported on the following year end financial statements

Answer and Explanation:

The wages expense of $100,000 should be reported on the debit side of the balance sheet, the $90,000 should be shown in the cash flow statement and the remaining balance i.e. $10,000 would be shown as the wages payable as the current obligations on the liabilities side of the balance sheet

So the above represent the title of an account and the amount

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.  

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.