The Employees of Dew Drop Inn Get Paid Every Friday

question 161

Multiple Choice

The employees of Dew Drop Inn get paid every Friday for a 5-day workweek (Monday through Friday) .The total payroll is $5,000 per day of work.If the accounting period ends on Thursday of a given week,and the proper adjustment is made on Thursday,what will be the effect on the company's accounting system on Friday when the employees are paid for the week?

• A)Decrease Cash by $25,000 and decrease shareholders' equity by recognizing Salaries expense for the same amount.
• B)Decrease Cash by $25,000,decrease shareholders' equity by recognizing Salaries expense for $20,000 and decrease Salaries payable by $5,000.
• C)Decrease Cash by $25,000,decrease shareholders' equity by recognizing Salaries expense for $5,000 and decrease Salaries payable by $20,000.
• D)Decrease Cash by $5,000 and decrease shareholders' equity by recognizing Salaries expense for the same amount.

Explain the organizational imperative and its impact on law enforcement according to Chambliss.

Understand political stances and actions proposed by conflict theorists like Quinney.

Grasp the interplay between social conflicts and deviant behaviors.

Distinguish different theoretical perspectives on the origins and perpetuation of deviance including labeling, phenomenological, and Marxist theories.

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Definitions:

Perfectly Inelastic Demand

Product or resource demand in which price can be of any amount at a particular quantity of the product or resource that is demanded; when the quantity demanded does not respond to a change in price; graphs as a vertical demand curve.

Perfectly Elastic Demand

Product or resource demand in which quantity demanded can be of any amount at a particular product or resource price; graphs as a horizontal demand curve.

Graphed

A method of representing data visually using charts or plots to illustrate relationships between different variables.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in its price.