Answer:
1. Describes the image the organization wants to project
Statement: Mission Statement
2. Inspires enthusiasm and encourages commitment
Statement: Vision Statement
3. Illuminates the organization’s attitude toward its employees
Statement: Mission Statement
4. Is intended to guide all of the actions in the organization
Statement: Values Statement
5. Is easily understood and well-articulated
Statement: Vision Statement
6. Outlines the organization’s customer base
Statement: Mission Statement
7. Expresses the company’s worldview
Statement: Values Statement
8. Is appropriate for the times and for the organization
Statement: Vision Statement
9. Limits itself to a small number that employees can recall when making decisions
Statement: Values Statement
10. Articulates the geographical locations where the company competes
Statement: Mission Statement
11. Unchanging; As applicable in 100 years as it is today
Statement: Values Statement
12. Reflects high ideals
Statement: Vision Statement
what is the main difference between regular work hours and overtime
Answer:
regular work hour- employee are expected to on the basis of their employment contract.
overtime- hours worked exceed normally scheduled working hours.
Osborn Manufacturing uses a predetermined overhead rate of $ 19.70 per direct labor- hour. This predetermined rate was based on a cost formula that estimates $265,950 of total manufacturing overhead for an estimated activity level of 13,500 direct labor-hours. The company actually incurred $260,000 of manufacturing overhead and 13,000 direct labor-hours during the period.
Required:
1. Determine the amount of underapplied or overapplied manufacturing overhead for the period.
2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would the journal entry to dispose of the underapplied or overhead increase or decrease the company's gross margin? By how much?
Answer:
1. $3,900
2. $3900
Explanation:
Required:
1. Calculation to Determine the amount of underapplied or overapplied manufacturing overhead for the period.
Applied overhead = 19.70*13,000
Applied overhead = 256,100
manufacturing overhead = 260,000-256,100
manufacturing overhead= underapplied by $3,900
2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would the journal entry to dispose of the underapplied or overhead increase or decrease the company's gross margin? By how much
The gross margin would decrease by the amount of $3900
Giblin Corporation earned $9,700 of service revenue on account during Year 1. The company collected $8,245 cash from accounts receivable during Year 1. Required Based on this information alone, determine the following for Giblin Corporation. (Hint: Record the events in general ledger accounts under an accounting equation before satisfying the requirements.) (Enter any decreases to account balances with a minus sign.)
a. The balance of the accounts receivable that would be reported on the December 31, Year 1, balance sheet.
b. The amount of net income that would be reported on the Year 1 income statement.
c. The amount of net cash flow from operating activities that would be reported on the Year 1 statement of cash flows.
d. The amount of retained earnings that would be reported on the Year 1 balance sheet.
Answer and Explanation:
The computation is shown below:
a. The balance in the account receivable is
= $9,700 - $8,245
= $1,455
b. The amount of the net income is equivalent to the service revenue earned i.e. $9,700
c. The net cash flow from operating activities is
Net income $9,700
Less; increase in account receivable -$1,455
Net cash flow from operating activities $8,245
d. The retained earnings is equivalent to the amount of the net income i.e. $9,700
Amazon Company uses predetermined departmental overhead rates based on direct labor cost to apply manufacturing overhead to jobs. The predetermined overhead rate for Department A this year was 200% of direct labor cost. The predetermined overhead rate for Department B this year was 50% of direct labor cost. Job Delta, which used labor time in both departments, was charged with the following costs.
Dept A Dept B
Direct materials $50,000 $10.000
Direct labor ? $60.000
Manufacturing overhead $80.000 ?
What was the total manufacturing cost assigned to Job Delta?
a. $270,000
b. $360,000
c. $390.000
d. $480.000
Answer:
a. $270,000
Explanation:
Department A:
Manufacturing overhead=200% of direct labor
80000 = 200% of direct labor
So, direct labor = 80000/200%=$40,000
Department B:
Manufacturing overhead=50% of direct labor
So, Manufacturing overhead = 50%*60000=$30,000
Total manufacturing cost = Material cost + Labor cost + Manufacturing overhead
- Material cost = 50000+10000=$60,000
- Direct labor cost = 40000+60000=$100,000
- Manufacturing overhead = 80000+30000=$110,000
Total manufacturing cost = $60,000 + $100,000 + $110,000
Total manufacturing cost = $270,000
Which of the following is NOT a way to help you with time
management during a meeting?
O Check the clock frequently
O Ask for help resolving issues
O Ask attendees to help keep track of time
O Follow-up on issue you can solve immediately
Answer:
check the clock frequently
Luebke Incorporated has provided the following data for the month of November. The balance in the Finished Goods inventory account at the beginning of the month was $72,000 and at the end of the month was $32,000. The cost of goods manufactured for the month was $222,000. The actual manufacturing overhead cost incurred was $61,000 and the manufacturing overhead cost applied to Work in Process was $66,000. The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. The adjusted cost of goods sold that would appear on the income statement for November is:
Answer:
$257,000
Explanation:
Calculation for what The adjusted cost of goods sold that would appear on the income statement for November is:
First step is to calculate Over applied overhead
Over applied overhead = $66,000- $61,000
Over applied overhead= $5,000
Second step is to calculate Unadjusted cost of goods sold
Unadjusted cost of goods sold = $72,000+$222,000+$32,000
Unadjusted cost of goods sold = $262,000
Now let calculate the Adjusted cost of goods sold
Adjusted cost of goods sold = $262,000-$5,000 Adjusted cost of goods sold= $257,000
Therefore The adjusted cost of goods sold that would appear on the income statement for November is:$257,000
When you retire 35 years from now, you want to have $1.25 million. You think you can earn an average of 13.5 percent on your investments. To meet your goal, you are trying to decide whether to deposit a lump sum today, or to wait and deposit a lump sum 2 years from today. How much more will you have to deposit as a lump sum if you wait for 2 years before making the deposit
Answer:
$19,144.61
Explanation:
The first step would be to determine the present value of $1.25 million. After, the future value of that amount in 2 years has to be calculated
The formula for calculating future value:
P = FV / (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
$1.25 million / (1.135)^35 = $14,861.23
Now we find the future value using this formula :
FV = P (1 + r)^n
$14,861.23 x (1.135)^2 = $19,144.61
Discuss some of the program’s challenges.
https://www.pbs.org/video/need-know-financial-literacy/
Answer:
okay aph development continues with an expression of the rationale or the explanation that the writer gives for how the reader should interpret the information presented in the idea statement or topic sentence of the paragraph. The writer explains his/her thinking about the main topic, idea, or focus of the paragrap
Explanation:
Dillon Company incurred the following costs while producing 480 units: direct materials, $9 per unit; direct labor, $22 per unit; variable manufacturing overhead, 12 per unit; total fixed manufacturing overhead costs, $7,680; variable selling and administrative costs, $4 per unit; total fixed selling and administrative costs, $4,320. There are no beginning inventories.
What is the unit product cost using variable costing?
A. $72 per unit
B. $59 per unit
C. $47 per unit
D. $43 per unit
Answer:
The unit cost is $43 per unit
Explanation:
Required
Determine the unit product cost?
Using variable costing, the unit product cost is:
[tex]Unit = DM+ DL + VMO[/tex]
[tex]DM = Direct\ Materials =\$9[/tex]
[tex]DL = Direct\ Labor =\$22[/tex]
[tex]VMO = Variable\ Manufacturing\ Overhead = \$12[/tex]
So, we have:
[tex]Unit = \$9 + \$22 + \$12[/tex]
[tex]Unit = \$43[/tex]
Hence, the unit cost is $43 per unit
Identify which accounts should be closed on May 31.
Cash
Not Closed
Closed
Supplies
Closed
Not Closed
Prepaid Insurance
Not Closed
Closed
Land
Closed
Not Closed
Buildings
Not Closed
Closed
Equipment
Not Closed
Closed
Accounts Payable
Closed
Not Closed
Unearned Rent Revenue
Not Closed
Closed
Mortgage Payable
Closed
Not Closed
Common Stock
Not Closed
Closed
Rent Revenue
Not Closed
Closed
Salaries and Wages Expense
Closed
Not Closed
Utilities Expense
Not Closed
Closed
Advertising Expense
Not Closed
Closed
Interest Expense
Not Closed
Closed
Insurance Expense
Not Closed
Closed
Supplies Expense
Not Closed
Closed
Depreciation Expense
Closed
Not Closed
Answer:
Cash ___________________ Not Closed
Supplies _________________Not Closed
Prepaid Insurance _________ Not Closed
Land ___________________Not Closed
Buildings ________________Not Closed
Equipment _______________Not Closed
Accounts Payable _________ Not Closed
Unearned Rent Revenue ____Not Closed
Mortgage Payable _________Not Closed
Common Stock ___________Not Closed
Rent Revenue ____________Closed
Salaries and Wages Expense_Closed
Utilities Expense __________ Closed
Advertising Expense _______ Closed
Interest Expense __________ Closed
Insurance Expense _________Closed
Supplies Expense __________Closed
Depreciation Expense _______Closed
Explanation:
In accounting, there are two types of accounts
TemporaryPermanentTemporary
Temporary accounts are closed at the end of each accounting period and new balance are maintained for the new period.
Expense and Income accounts are temporary accounts and these accounts are closed in the retained earning account of the balance share.
In this question following accounts are temporary accounts and these are needed to be closed at the end of the period.
Rent Revenue
Salaries and Wages Expense
Utilities Expense
Advertising Expense
Interest Expense
Insurance Expense
Supplies Expense
Depreciation Expense
Permanent Accounts
Permanent accounts are not closed at the end of each accounting period and they carried their net and accumulated balance in the next period.
Assets, Equity, and Liabilities accounts are permanent accounts.
In this question following accounts are permanent accounts
Cash
Supplies
Prepaid Insurance
Land
Buildings
Equipment
Accounts Payable
Unearned Rent Revenue
Mortgage Payable
Common Stock
Cash ___________________ Not Closed
Supplies _________________Not Closed
Prepaid Insurance _________ Not Closed
Land ___________________Not Closed
Buildings ________________Not Closed
Equipment _______________Not Closed
Accounts Payable _________ Not Closed
Unearned Rent Revenue ____Not Closed
Mortgage Payable _________Not Closed
Common Stock ___________Not Closed
Rent Revenue ____________Closed
Salaries and Wages Expense_Closed
Utilities Expense __________ Closed
Advertising Expense _______ Closed
Interest Expense __________ Closed
Insurance Expense _________Closed
Supplies Expense __________Closed
Depreciation Expense _______Closed
Explanation:
In accounting, there are two types of accounts
Temporary
Permanent
Temporary
Temporary accounts are closed at the end of each accounting period and new balance are maintained for the new period.
Expense and Income accounts are temporary accounts and these accounts are closed in the retained earning account of the balance share.
In this question following accounts are temporary accounts and these are needed to be closed at the end of the period.
Rent Revenue
Salaries and Wages Expense
Utilities Expense
Advertising Expense
Interest Expense
Insurance Expense
Supplies Expense
Depreciation Expense
Permanent Accounts
Permanent accounts are not closed at the end of each accounting period and they carried their net and accumulated balance in the next period.
Assets, Equity, and Liabilities accounts are permanent accounts.
In this question following accounts are permanent accounts
Cash
Supplies
Prepaid Insurance
Land
Buildings
Equipment
Accounts Payable
Unearned Rent Revenue
Mortgage Payable
Common Stock
On August 31, the balance sheet of Bramble Veterinary Clinic showed Cash $12,000, Accounts Receivable $4,700, Supplies $600, Equipment $6,000, Accounts Payable $6,600, Common Stock $16,050, and Retained Earnings $650. During September, the following transactions occurred.
1. Paid $3,500 cash for accounts payable due.
2. Collected $2,050 of accounts receivable.
3. Purchased additional equipment for $2,350, paying $900 in cash and the balance on account.
4. Performed services worth $7,900, of which $2,550 is collected in cash and the balance is due in October.
5. Declared and paid a $2,250 cash dividend.
6. Paid salaries $2,100, rent for September $1,150, and advertising expense $100.
7. Incurred utilities expense for month on account $180.
8. Received $12,000 from Capital Bank on a 6-month note payable.
Required:
Prepare a tabular analysis of the September transactions beginning with August 31 balances.
Answer:
Total Assets = Total Liabilities + Total Owner's Equity = $35,550
Explanation:
Note: See the attached excel file for the tabular analysis of the September transactions beginning with August 31 balances.
In the attached excel file, Evidence that Assets Equal Liabilities Plus Stockholders' Equity is prepared below the tabular analysis to show that the accounting equation holds as follows:
Total Assets = Total Liabilities + Total Owner's Equity = $35,550
In the attached excel file, the following calculations are performed:
1. Under Transaction 3: Accounts Payable ($) = $2,350 - $900 = $1,450
2. Under Transaction 4: Accounts Receivable = $7,900 - $2,550 = $5,350
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GOP as part of consumption (C), investment (), government purchases (G), exports (X), or imports (M).
a. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.
b. Sam's employer upgrades all of its computer systems using U.S-made parts.
c. Teresa's father in Sweden orders a bottle of Vermont maple syrup from the producer's website.
d. Sam buys a sweater made in Guatemala.
e. Teresa gets a new refrigerator made in the United States.
Answer:
a. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. - Gonverment purchases (G)
Government purchases include all expenses incurred by the government, like investment in public roads or public schools. It does not include transfer payments like social security or medicare though.
b. Sam's employer upgrades all of its computer systems using U.S-made parts. - Investment (I)
Investment includes all purchases made by private firms with the goal of increasing their assets, and economic profit.
c. Teresa's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. - exports (X)
Exports are all goods and services, produced domestically (Vermont) and sold abroad (Sweden).
d. Sam buys a sweater made in Guatemala. - imports (M).
Imports are all goods and services, produced abroad (Guatemala), and consumed by domestic individuals or firms (Sam)
e. Teresa gets a new refrigerator made in the United States. - consumption (c)
Consumption includes all goods and services purchased by individuals and households in the United States.
Arif told Bano, his wife, that he would divorce her, if she does not transfer her
personal assets to him. She agreed to transfer her assets to him. Can Bano avoid
the contract?
In the manufacture of car tires, a particular production process is known to yield 10 tires with defective walls in every batch of 100 tires produced. From a production batch of 100 tires,
a sample of 4 is selected for testing to destruction
Find the probability that the sample contains 1 defective tire.
Answer:
urkrorllkrkfkkflfllrlrklrlrlrlkrk kdklkkklor
The following is the information for the Brendan's Bread bakery company: Beginning raw materials inventory $ 53,200 Beginning work in process, inventory 78,400 Ending raw materials inventory 58,100 Ending work in process, inventory 98,000 Direct labor 149,800 Total factory overhead 105,000 Raw material purchases 210,000 Question: What is the value of Total Manufacturing Costs? Do not include a dollar sign or commas in your answer.
Answer:
$254,900
Explanation:
Total Manufacturing Costs include all costs involved in manufacturing a Product such as direct materials, direct labor and indirect costs or overheads incurred during the period of production.
Calculation of Total Manufacturing Cost
Raw Materials (53,200 +210,000 -58,100) $205,100
Direct Labor $149,800
Factory Overhead $105,000
Total Manufacturing Cost $254,900
Conclusion
Total Manufacturing Costs will be $254,900
The level of analysis for the Industry environment is the _____ level:
good lost by fire Rs 12000 and Assurance Company not admitted the claim journal entries
Answer:
Profit and Loss A/c DR 12,000
To Purchase A/c 12,000
Explanation:
Given:
Amount of goods lost = Rs. 12,000
Books of --- Ltd
Journal Entry
Date Particular Debit Credit
Profit and Loss A/c DR 12,000
To Purchase A/c 12,000
(Being goods lost in fire and insurance company accept no claim)
Dave M. Company issues 500 shares of $10 par value Common Stock and 100 shares of $40 par value Preferred Stock as a basket for a lump sum of $105,000. Total transaction costs paid to complete the sale was $5,000. Common Stock of the company was selling for $198 per share in the market that day and Preferred Stock was selling for $110 per share in the market that day.
Required:
a. Prepare a table showing how the sale price is allocated between the Common Stock and the Preferred Stock.
b. Prepare the journal entry to record the basket sale of the two stocks.
Answer:
a.
Allocation
Common Stock $94,500
Preferred Stock $10,500
b.
Journal Entry
Cash _____________________________$105,000
Common stock _____________________ $5000
Paid-in capital in excess of par - Common _$89,500
Preferred stock _____________________$4,000
Paid-in capital in excess of par - Preferred _$6,500
Explanation:
a.
First, we need to calculate the Market value of both stock using the foloowinf formula
Market value = Numbers of shares x Market value per share
Market value of common stock = 500 x $198 = $99,000
Market value of preferred stock = 100 x $110 = $11,000
Total value = $99,000 + $11,000 = $110,000
Now calculate the weight of each sock
Weight of common stock $99,000 / $110,000 = 0.90
Weight of preferred stock = $11,000 / $110,000 = 0.10
Allocation of the sale price is as follow
Allocated sale price = Weight of Stock x Sale price
Allocated sale price of common stock = $105,000 x 0.90 = $94,500
Allocated sale price of common stock = $105,000 x 0.10 = $10,500
b.
Common Sock is recorded separately as par value and paid-in capital excess of par as follow
Common Stock ( Par Value ) = 500 x $10 = $5,000
Common Stock ( Excess of Par ) = $94,500 - $5,000 = $89,500
Preferred Stock ( Par Value ) = 100 x $40 = $4,000
Preferred Stock ( Excess of Par ) = $10,500 - $4,000 = $6,500
composition of my father in French
Answer:
COMPOSITION OF MY FATHER (In french language)
Il s’appelle …… Il travail dans un bureau. Il a …… ans. Il est grand/petit.
Il est gentil. Il aime les ……….
(His name is ……… He works in an office. He is …years old. He is tall/short. He is kind. He loves.……)
OR YOU CAN CHOOSE TO WRITE THIS!
Mon père est néphrologue. Il est attentioné et est comme un ami pour moi. On parle de tout. Il m’aide avec mes études aussi. Je peux plaisanter sur n’importe quoi avec lui et il ne m’en voudrai pas et ça va avec moi.
Mon rêve est d’etre un très bien médecin et un très bien etre humain et lui faire sentir fier.
Which of the following is a simple sentence?
a. Because we will be reducing employee health insurance benefits, some employees may be unhappy; however, we must make sure that they understand the reason for the change.
b. HMO and PPO insurance plans offer additional cost savings.
c. Having healthy employees decreases the cost of monthly premiums; therefore, we will be implementing a wellness program.
d. If health insurance costs continue to rise, employee copays may increase.
The simple sentence is:b. HMO and PPO insurance plans offer additional cost savings.
A simple sentence is a sentence with one independent clause (also called a main clause). It can have a compound subject or predicate. There is only one independent clause in a simple sentence and it expresses a single thought. Among the given sentences, the simple sentence is:b. HMO and PPO insurance plans offer additional cost savings.
Explanation:The sentence "HMO and PPO insurance plans offer additional cost savings" is a simple sentence because it contains only one subject-verb pair, “HMO and PPO insurance plans” (subject), “offer” (verb).
The sentence is clear and straightforward. It contains no dependent clauses or conjunctions that join two independent clauses. Hence, this sentence is a simple sentence.
for such more question on insurance
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The 2018 balance sheet of Speith’s Golf Shop, Inc., showed long-term debt of $5 million, and the 2019 balance sheet showed long-term debt of $5.25 million. The 2019 income statement showed an interest expense of $165,000. The 2018 balance sheet showed $510,000 in the common stock account and $4.6 million in the additional paid-in surplus account. The 2019 balance sheet showed $550,000 and $4.8 million in the same two accounts, respectively. The company paid out $410,000 in cash dividends during 2019. Suppose you also know that the firm’s net capital spending for 2019 was $1,370,000, and that the firm reduced its net working capital investment by $69,000. What was the firm's 2019 operating cash flow, or OCF?
Answer:
$1,386,000
Explanation:
The computation of the operating cash flow is shown below:
But before that following calculations must be done
Cash Flow to Creditors
Cash Flow to Creditors = Interest Expenses Paid - Net Increase in Long term debt
= Interest Expenses Paid - [Ending Long term debt - BEginning Long term Debt]
= $165,000 - [$5,250,000 - $5,000,000]
= $165,000 - $250,000
= -$85,000
Cash Flow to Stockholders
Cash Flow to Stockholders = Dividend Paid - Net New Equity
= Dividend Paid - [(Ending Common stock + Ending Additional paid-in surplus account ) - (Opening Common stock + OPening Additional paid-in surplus account )
= $410,000 - [($550,000 + $4,800,000) - ($510,000 + $4,6000,000)]
= $410,000 - [$5,350,000 - $5,110,000]
= $410,000 - $240,000
= $170,000
Cash Flow from assets
Cash Flow from assets = Cash Flow to Creditors + Cash Flow to Stockholders
= -$85,000 + $170,000
= $85,000
Operating Cash Flow
= Operating Cash flows - Change in Net Working capital - Net Capital Spending
$85,000 = Operating cash flow - (-$69,000) - $1,370,000
= $85,000 - $69,000 + $13,70,000
= $1,386,000
Presented below are various account balances of K.D. Lang Inc.
a. Unamortized premium on bonds payable, of which $3,000 will be amortized during the next year.
b. Bank loans payable of a winery, due March 10, 2024. (The product requires aging for 5 years before sale.)
c. Serial bonds payable, $1,000,000, of which $200,000 are due each July 31.
d. Amounts withheld from employees' wages for income taxes.
e. Notes payable due January 15, 2023.
f. Credit balances in customers' accounts arising from returns and allowances after collection in full of account.
g. Bonds payable of $2,000,000 maturing June 30, 2021.
h. Overdraft of $1,000 in a bank account. (No other balances are carried at this bank.)
i. Deposits made by customers who have ordered goods.
Required:
Indicate whether each of the items above should be classified on December 31, 2024, as a current liability, a long-term liability, or under some other classification.
Answer:
a. Unamortized premium on bonds payable, of which $3,000 will be amortized during the next year.
Indication: Unamortized premium is a contra liability account and amortization is an expense account
b. Bank loans payable of a winery, due March 10, 2024. (The product requires aging for 5 years before sale.)
Indication: Long Term Liability
c. Serial bonds payable, $1,000,000, of which $200,000 are due each July 31.
Indication: 800000, Long term liability and 200000 current liability
d. Amounts withheld from employees' wages for income taxes.
Indication: Current Liability
e. Notes payable due January 15, 2023.
Indication: Long Term Liability
f. Credit balances in customers' accounts arising from returns and allowances after collection in full of account.
Indication: Account Receivable i
g. Bonds payable of $2,000,000 maturing June 30, 2021.
Indication: Current Liability
h. Overdraft of $1,000 in a bank account. (No other balances are carried at this bank.
Indication: Current Liability
i. Deposits made by customers who have ordered goods.
Indication: Current Liability
A Herfindahl-Hirschman Index is calculated by
A. summing the advertising expenditures of the firms that want to merge by total industry advertising expenditures.
B. summing the amount of sales by the four largest firms and dividing by total industry sales.
C. dividing the number of firms wanting to merge by the total number in the industry.
D. summing the squares of the market shares of each firm in the industry.
Answer:
Option D: Summing the squares of the market shares of each firm in the industry.
Explanation:
The Herfindahl-Hirschman index (HHI) is a use worldwide as measure of market concentration. It's calculation is based on squaring the market share of each firm competing in a market, and thereafter the resulting numbers are summed up. It commonly range known is simply from zero to 10,000. It is used by U.S. Department of Justice uses for potential mergers issues evaluation. It is a measure of industry concentration by the sum of the squares of the market shares held by each of the firms in the industry.
The Herfindahl index shows a decrease in competition and an increase of market power, when there is an increase and decreases is the opposite.
One of the key decisions employers must make is the level of compensation provided to employees. Compensation is a significant cost, and employees are one of the most important assets of the organization. It is important that the organization makes and executes good strategic choices. To facilitate this process, many organizations think systematically about its job structures for compensation and pay levels for different jobs.
An organization's job structure consists of relative pay for different functions and different levels of responsibility. It defines, for example, the difference in pay between entry-level and management jobs, as well as different entry-level jobs in different departments, such as in production or accounting. Pay level is the average amount that an organization pays for a particular job and includes wages, salaries, and bonuses. Job structure and pay levels together form the pay structure, a policy that helps the organization achieve goals related to employee motivation, cost control, and the ability to attract and retain talented employees.
This activity is important because it will help you distinguish between the various factors that impact an organization’s pay structure. The goal of this activity is to classify decisions based on the factors used to establish a pay structure.
HR professionals develop pay structures for their organations based on such factors as legal requirements, company goals, and market forces. Drag each item into the appropriate column on the chart.
1. Equal pay for equal work
2. National compensation survey
3. Product markets
4. Benchmarking
5. Equitable pay rates
6. Child labor laws
7. Federal minum- wage laws
8. Overtime pay
9. Retention of talented staff
10. Trends in labor markets
11. Company cost centers
A. Legal Requirements
B. Organizational Goals
C. Market Forces
Answer:
1. Company goals
2.Market forces
3. market forces
4. company goals
5. market forces
6. legal requirement
7. legal requirement
8. company goals
9. company goals
10. market survey
11. company goals
Explanation:
Company goals is to maintain its business profitable. It is important for a business to retain its talented employees for maintaining quality of products. Legal requirements are the laws which are required to be followed by the businesses.
Recently, a group of university students decided to incorporate for the purposes of selling a process to recycle the waste product from manufacturing cheese. Some of the initial costs involved were legal fees and office expenses incurred in starting the business, state incorporation fees, and stamp taxes. One student wishes to charge these costs against revenue in the current period. Another wishes to defer these costs and amortize them in the future. Which student is correct
Answer:
The student wishing to defer these costs and amortize them in the future.
Explanation:
Indeed, according to standard regulatory requirements, all the initial costs associated with incorporating a business cannot be deducted all at once in the first year of operation.
However, these costs are spread over a long period of time. And one way to do this is to amortize them in the future. Therefore, the second student deferring cost is correct.
the majority of retailers are what
Assume the following relationships for the Caulder Corp.: Sales/Total assets 1.7× Return on assets (ROA) 5.0% Return on equity (ROE) 13.0% Calculate Caulder's profit margin and debt-to-capital ratio assuming the firm uses only debt and common equity, so total assets equal total invested capital. Do not round intermediate calculations. Round your answers to two decimal places. Profit margin: % Debt-to-capital ratio: %
Answer:
Profit margin=3%
Debt-to-capital ratio: = 3.8%
Explanation:
Calculations for Profit margin % and Debt-to-capital ratio: %
Calculation for profit margin
Profit margin =.05/1.7
profit margin=0.03*100
profit margin=3%
Calculation for Debt-to-capital ratio using this formula
Debt-to-capital ratio= ROA * (1 / ROE)
Let plug in the formula
Debt-to-capital ratio = .05 * (1 / .013)
Debt-to-capital ratio = .05 *76.92
Debt-to-capital ratio= 3.8%
Therefore: Profit margin=3%
Debt-to-capital ratio = 3.8%
How do financial institutions contribute to the development of a market economy?
A.
They collect sales tax on goods and services for local and state governments.
B.
They impose and collect tariffs on products imported from other countries.
C.
They prevent businesses and people from overspending when prices are high.
D.
They provide loans so that businesses and people can buy goods and services.
Answer:
Option D
Explanation:
I just used this on my test and got it correct
Fred Moss, owner of Moss Interiors, is negotiating for the purchase of Zweifel Galleries. The following balance sheet of Zweifel is given in an abbreviated form below.
ZWEIFEL GALLERIES BALANCE SHEET AS OF DECEMBER 31, 2017
Assets Liabilities and Stockholders' Equity
Cash $100,000 Accounts payable $50,000
Land 70,000 Notes payable (long-term) 300,000
Buildings (net) 200,000 Total liabilities 350,000
Equipment (net) 175,000 Common stock $200,000
Copyrights (net) 30,000 Retained earnings 25,000 225,000
Total assets $575,000 Total liabilities and stockholders' equity $575,000
Moss and Zweifel agree that:
1. Land is undervalued by $30,000.
2. Equipment is overvalued by $5,000.
Zweifel agrees to sell the gallery to Moss for $350,000.
Required:
Prepare the entry to record the purchase of Zweifel Galleries on Moss's books.
Answer:
Dr Cash 100,000
Dr Land 100,000
Dr Equipment 170,000
Dr Building 200,000
Dr Copyright 30,000
Dr Goodwill 100,000
Cr Accounts payable 50,000
Cr Long-term notes payable 300,000
Cr Cash 350,000
Explanation:
Goodwill = sales price - net assets + fair value adjustments = $350,000 - ($575,000 - $350,000) + ($30,000 - $5,000) = $100,000
Prepare Two Column Cash Book from the following transactions and balance the book on 31st Jan., 2021:-
2021
Jan. 1
Cash in hand 50,000; Bank overdraft 1,90,000.
Jan. 2
Purchased goods from Rajesh Kumar of the list price of 50,000 at 5% trade discount and payment made by cheque.
Jan. 6
Goods sold for 80,000 and payment received by cheque. Cheque deposited into Bank on same day.
Jan. 10
Goods purchased for cash 19,800.
Jan. 15
Furniture sold for 1,77,000 and payment received by cheque & cheque deposited into Bank on same day.
Jan. 18
Salaries paid 4,500.
Jan. 21
Settled the amount due to Ram 2,000 by paying cash 1,910.
Jan. 22
Cash received from Jai 14,780 in full settlement of his account of 15,000.
Jan. 23
Paid Life Insurance premium 1,500.
Jan. 31
Deposited with bank the entire balance after retaining 7,000 cash in hand.
Answer:
On January 21, Balance c/d are:
Cash = $7,000
Bank = $49,570
Explanation:
Note: See the attached excel file for the Two Column Cash Book.
Also note the following in the attached Two Column Cash Book:
(1) Jan. 1 Bank overdraft 1,90,000 is recorded in the Two Column Cash Book as 190,000 to correct the error in the figure.
(2) Jan. 15 Furniture sold for 1,77,000 is recorded in the Two Column Cash Book as 177,000 to correct the error in the figure.
(3) Jan. 18 Salaries paid 4,500 is assumed to be paid by cheque since no specific form of payment in indicated.
(4) Jan. 23 Paid Life Insurance premium 1,500 is assumed to be paid by cheque since no specific form of payment in indicated.
(5) VN represents Voucher Number.
(5) PR represents Posting Reference.
(6) C represents Contra entry.
(7) The Jan. 31 Bank and Cash (C) of $36,070 which is the entire balance deposited with bank after retaining 7,000 cash in hand is obtained as follows:
Entire balance deposited with bank = Total cash received - Total cash paid - $7,000 retained = $64,780 - ($19,800 + $1,910) - $7,000 = $36,070
(8) Balance c/d represents Balance carried down.
(8) Balance b/d represents Balance brought down.