Peter Works in a Month for 22 Days. Wage rate per hour is $ 15 Every day Peter works for 8 Hours.
Q: The divisional managers of West plc have requested that the method for calculating bonuses at the…
A: Residual income is that income of the division which remains after deducting income at weighted cost…
Q: Which of the following is an asset of the Fed? Federal Reserve notes bank reserves gold they are all…
A: One of these measures was what the Fed refers to as “large-scale asset purchases,” which is more…
Q: 1. Sales Revenue should increase by 2% in 2021; 3% in 2022 and decreased by 3% in 2023 and remains…
A: Projected Income Statement is the a snapshot of Estimated Sales, Cost of Sales, Operating Expenses…
Q: In an executor's accounting for an estate, debts and other obligations are recorded Select one:…
A: The accounting process that is used by an an executor of an estate is different and unique. This…
Q: Assume the following production data taken from the records of CONEY Manufacturing Co:…
A: Solution: Equivalent units under FIFO method = Units in beginning WIP * % completed during the…
Q: How much is the Input VAT? (excluding presumptive) The following transactions pertaion to RTT…
A: Input VAT can be of 4 types depending on the items purchased and the seller from whom the goods are…
Q: Average collection period of PETRON STATEMENT OF FINANCIAL POSITION AND INCOME STATEMENT OF 3…
A: Average collection period means the number of days taken by a business to collect the accounts…
Q: Entries fOF ISsuIny StOck On January 22, Ireland Corporation issued for cash 30,000 shares of no-par…
A: Paid in capital in excess of par - Preferred stock = Issue value of preferred stock - Par value of…
Q: If Apollo Company acquired a 30% interest in Twin Company on December 31, 2021 for P202,500 and…
A: GIVEN Apollo Company acquired a 30% interest in Twin Company on December 31, 2021 for P202,500 and…
Q: Direct materials = $10 per unit Direct labor = $5 per unit Variable manufacturing overhead = $2 per…
A: Working note: Fixed manufacturing overhead per unit = Total Fixed manufacturing overhead / Units…
Q: S1: Elimination entries for intercompany profit in the consolidation working papers for business…
A: Consolidated financial statements are those statements which are prepared for the combination of…
Q: Question 1. Which of the following reprosents tho fundamental accounting oquation used in a business…
A: Solution: As per Fundamental accounting equation which is the basis of double entry book keeping…
Q: financial statement analysis
A: Financial statement analysis deals with the analysis of the core financial statements of a company…
Q: Dolce and Gabbana are partners with capital balances of P 160,000 and P 80,000. They share profits…
A: Aggregate capital balance of Dolce and Gabbana = P 160,000 + P 80,000 Aggregate capital balance of…
Q: On January 2, 2021, the Statement of Financial Position of Parent and Subsidiary Company prior to…
A: Consolidated Shareholder's Equity- Consolidated Shareholders’ Equity means the sum of Assets of the…
Q: Depreciation is based on the fair value of assets. An impairment loss occurs if the carrying value…
A: GIVEN Depreciation is based on the fair value of assets. An impairment loss occurs if…
Q: Presented below is information related to Ivan Calderon Corp. for the year 2020. Net sales…
A: Multi-step Income Statement is a financial statement that helps to determine the net income of the…
Q: Nebraska Inc. issues 3,000 shares of common stock for $45,000. The stock has a par value of $10 per…
A: Debit: Cash $45,000 Credit: Common stock $30,000 Credit: Paid in capital in excess of par $15,000
Q: How much is the additional allowable training expenses, if any?
A: Additional allowable training expenses is the deduction which is allowed legally to the company…
Q: Ritz Furniture has a contribution margin ratio of 0.17. If fixed costs are $166,600, how many…
A: Introduction: Break even point : The point for the sales where there is no profit nor loss. Below…
Q: A small coffee shop currently offers a cup of cafe latte for P107. The variable costs are P62 per…
A: Break Even sales is the point of sales where the firm neither incurs any losses or earns any gains…
Q: How much is the VAT Payable in June? Given the following data during the 2nd quarter of 2022 Month…
A: VAT means the value added tax which is levied on sale and purchase . Vat paid on purchases is booked…
Q: For the month of December, the records of Taboo Corporation show the following information: Cash…
A: Gross sales = Cash sales + Credit sales where, Credit sales = Ending Accounts Receivable + Cash…
Q: Presented below is selected information related to Blue Co. for the month of January 2022. Ending…
A: Ending inventory are overstated by $800 ($23,710 - $22,910)
Q: Required information (The following information applies to the questions displayed below.) Lina…
A: According to the given Lina bought a new automobile in 2020 to operate for her company. Her firm…
Q: According to one survey, 92 percent of U.S. companies now claim that social media marketing is…
A: Marketing Plan- A marketing plan is a strategic plan for promoting the company and its products in…
Q: Which of the following would be the best choice for CFC to do to raise the money it needs?
A: As per our protocol we provide solution to only one question if in case of multiple questions and…
Q: Happy Selling's had the following accounts atyear end: Cash-250,000, Accounts Payable-70,000,…
A: Introduction: Current Assets: The Assets which can be easily converted in to cash with in a year…
Q: Parlee Company's sales are 30% in cash and 70% on credit. Sixty percent of the credit sales are…
A: Sales Budget Refers to Expected Value of Sales to be made in Upcoming Period. Income Statement is a…
Q: Entries for Issuing No-Par Stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash…
A: Preferred stock means the amount raised against which dividend is given to stock holder but after…
Q: Please make a cost by nature Income Statement for the following points: a) Write off (in minus) of…
A: Income statement is one of the measure of profitability of the business. It shows all incomes and…
Q: Oriental Company follows the procedure of debiting bad debt expense for 2% of all new sales. Sales…
A: Formulas: Accounts written off during the year = beginning Allowance for Bad Debts + bad debts…
Q: armen owns a cornershop. During the 2020 tax year, Carmen bought trading stock worth $77,000 and…
A: Trading Stock bought $ 77,000 Trading Stock Sold $ 125,000 All Items…
Q: Based on the above and the result of your audit, answer the following: (Disregard tax implications)…
A: 3. Depreciation expense of Asset P for the year 2020 = P14500 Depreciation expense of Asset R for…
Q: On December 25, 2019, Ms. Smith gives Charity Z 1,000 shares of stock that she bought originally for…
A: In the given question, Charity Z has received shares as donation in the course of its business.…
Q: Statement of stockholders' equity Noric Cruises Inc. began the month of October with the following…
A: Shareholder equity means the amount that belong to the owner of the company i.e. share holder.…
Q: Historically, Ragman Company has had no significant bad debt experience with its customers. Cash…
A: Cash sales = 20% Total sales = Cash sales + Credit sales Credit sales = 80% The calculation are…
Q: Required: 1. Intangible assets will mean what adjustment in the EVA calculation? 2. The unusual loss…
A: EVA means the economic value profit of any project, which is used to measure the real economic value…
Q: Babes and Honey, on January 1, 2022, have respective capital balances of P300,000 and P500,000.…
A: Honey's share will be aggregate of: Honey's Annual salary. Honey's interest on capital. Honey's…
Q: In a business combination, an acquirer's interest in the fair value of the net assets acquired…
A: It should be recognised as capital reserve in the statement of comprehensive income... The…
Q: 46 ABC Company uses a backflush costing system with three trigger points: Purchase of direct…
A: Backflush cost accounting could be a cost accounting system that omits recording some or all of the…
Q: ABC Company paid P2,000,000 for a 70% interest in XYZ Co. on January 1, 2022. ABC Company elected to…
A:
Q: lloons By Sunset (BBS) is considering the purchase of two new hot air balloons so that it can expand…
A: Solution: Accounting rate of return is based on Net operating income and initial investment. Payback…
Q: Dolce and Gabbana are partners with capital balances of P 160,000 and P 80,000. They share profits…
A: Total capital balance of Dolce and Gabbana before admission of Vuitton = P 160,000 + P 80,000 Total…
Q: Assume the following production data taken from the records of CONEY Manufacturing Co: Transferred…
A: Equivalent units means number of units that is taken as completed for the calculation of cost per…
Q: Duprey Clinic uses client-visits as its measure of activity. During January, the clinic budgeted for…
A: Personnel expenses = Fixed personnel expenses + Variable personnel expenses Where, Variable…
Q: ABC Company operates a production process to convert a single material into three separate items,…
A: Joint cost is the cost which incurred during a process of producing two or more units from a single…
Q: Assuming a large population and holding all factors constant, what is the expected effect of a…
A: Hi student Since there are multiple questions, we will answer only first question.
Q: Effective with the year ended December 31, 20XX, Hall Company adopted a new accounting method of…
A: Doubtful accounts expense for the current year = Estimated uncollectible accounts + Accounts written…
Q: Which of the following statements about the LIFO Reserve Disclosure is NOT true? a. Usually, FIFO…
A: The credit balance in the LIFO reserve reports the difference since the time that LIFO was adopted.…
Step by step
Solved in 2 steps
- COMPUTING OVERTI ME RATE OF PAY AND GROSS WEEKLY PAY Rebecca Huang receives a regular salary of 2,600 a month and is paid 1 times the regular hourly rate for hours worked in excess of 40 per week. (a) Calculate Huangs overtime rate of pay. (b) Calculate Huangs total gross weekly pay if she works 45 hours during the week.Accounting for bonus and vacation pay Cathy Muench a factory worker, earns 1,000 each week. In addition, she will receive a 4,000 bonus at year-end and a four-week paid vacation. Prepare the entry to record the weekly payroll and the costs and liabilities related to the bonus and the vacation pay, assuming that Muench is the only employee.Jody Baush is a salaried employee who normally works a 35-hour week and is paid a weekly salary of 735.00. The agreement that he has with his employer states that his salary is to cover all hours worked up to and including 40. This week, Baush worked 42 hours. Calculate his gross pay. Gross pay_________
- Carl is paid an hourly rate of $12.65. What is his annual gross pay if he works 25 hours per week? $316.75Carl is paid an hourly rate of $17.85. What is his weekly gross pay he works 38 hours per week ?What is the gross annual household income if Person A works a minimum of 3 shifts for 4 hours a month, with a hourly wage of $15.00, and Person B annual salary is $20820.51?
- 1. Hannah makes $8.75 per hour. She works 30 hours per week. Find: a. Her weekly pay b. Her monthly pay c. Her yearly paySam earns an hourly rate of $15.50 for a 40-hour week. He receives double-time for and weekend work. This week he worked his regular 40 hours plus 10 hours on Sunday. Calculate his gross pay.Marcos Putnam receives a regular salary of $3,120 a month and is paid 1½ times the regular hourly rate for hours worked in excess of 40 per week. a. Calculate Putnam's overtime rate of pay. overtime pay per hour
- Rebecca Huang receives a regular salary of $3,120 a month and is paid 1½ times the regular hourly rate for hours worked in excess of 40 per week. a. Calculate Huang’s overtime rate of pay. If required, round your answer to the nearest cent.$ overtime pay per hour b. Calculate Huang’s total gross weekly pay if she works 43 hours during the week. If required, round your answer to the nearest cent.$Your monthly salary is $4,160 and your pay period changed to a bi-weekly pay. You work 40 hours per week and are paid 1.5 times (one and a half) your hourlywage for overtime. a. Find your new bi-weekly pay. Round to the nearest cent b. Calculate your hourly rate of pay for your standard work week and hourly rate. your overtime Standard hourly rate: Overtime hourly rate: Round to the nearest cent c. If you worked 43 hours one week and 47 hours the next week, whatwould your total pay be in that bi-weekly pay period? Round to the nearestcentYou are a salaried employee, paid semi-monthly. You earn $5,200 gross income each pay period. What is your realized in- come for the year?