Five productive activities where division of labour is not needed

Who can cheer me up i have seizures

AlekseyPX

Answer:

I got a joke for you :)

Why do we tell actors to “break a leg?”

Because every play has a cast.

3 0

3 years ago

Read 2 more answers

Ricardo's Mexican Restaurant incurred salaries expense of $62,000 for 2018. The payroll expense includes employer FICA tax, in a

Lana71 [14]

Answer:

1. Journalize Ricardo's expenses for employee benefits and for payroll taxes. Explanations are not required.

Assuming Ricardo has not yet paid the expenses:

XX, 2018, employee benefits and payroll tax expenses

Dr FICA tax (OASDI) expense 3,844

Dr FICA tax (Medicare) expense 899

Dr FUTA tax expense 132

Dr SUTA tax expense 1,188

Dr Worker health insurance 3,000

Dr Worker life insurance 330

Dr 401k plan 6,200

Cr FICA tax (OASDI) payable 3,844

Cr FICA tax (Medicare) payable 899

Cr FUTA tax payable 132

Cr SUTA tax payable 1,188

Cr Worker health insurance payable 3,000

Cr Worker life insurance payable 330

Cr 401k plan payable 6,200

If Ricardo has already paid the expenses and benefits, you should only credit cash for $15,593

2. What was Ricardo's total expense for 2018 related to payroll?

$15,593 + $62,000 = $77,593

Explanation:

salaries expense $62,000

FICA taxes (OASDI) = $62,000 x 6.2% = $3,844

FICA taxes (Medicare) = $62,000 x 1.45% = $899

FUTA taxes = $22,000 x 0.6% = $132

SUTA taxes = $22,000 x 5.4% = $1,188

health insurance $3,000

life insurance $330

retirement benefits $6,200

6 0

3 years ago

Fred and Torrie Jones are a retired couple looking for income. They are currently rebalancing their portfolio of stocks to inclu

sergey [27]

Answer: E

Dividend yield

Explanation:

Dividend yield is a company's total annual dividend payments divided by its number of shares. Since Fred and Torrie are more interested in how much dividends their investment will yield, one metric that will prove useful is the dividend yield per share. Contribution margin and current ratio are about how well the company is being run and does not directly reflect divided. Dividend payout ratio has no relationship between invested funds and dividend, it only compares dividend against reported profit.

4 0

3 years ago

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The following transactions occurred in April at Steve’s Cabinets, a custom cabinet firm. Purchased $80,000 of materials on accou

Airida [17]

Journal entry

1. Dr Material 80000

Cr Accounts payable 80000

(Purchase material on account)

2. Dr Work in process 4000

Cr Material 4000

(issue material)

3. Dr Material 56000

Cr Accounts payable 56000

( Purchase material on account)

4. Dr Accounts payable 80000

Cr Cash 80000

(Paid cash of material purchase)

5. Dr Work in process 68000

Cr Material 68000

( Issued material to production)

6. Dr Work in process 100000

Cr Wages payable 100000

(Direct labor incurred)

7. Dr Factory overhead 106000

Cr Cash 106000

( Paid cash on account of factory overhead)

8. Dr Work in process (100000*125%) 125000

Cr Applied factory overhead 125000

( To record applied factory overhead)

9. Dr Factory overhead 50000

Cr Accumulated depreciation 50000

( To record depreciation on plant and equipment)

T-account

Cash Material

Dr___________Cr__ __ DR ___________CR

148200 ---

---80000 80000 ---- 4000

---106000 56000 ---

-- 68000

Work in process Accounts payable

Dr____________Cr___ ___ DR ___________Cr

33000 ---

4000--- 80000 -- 80000

68000-- -- 56000

100000---

125000 ---

Wages payable Factory overhead

Dr ____________Cr__ __ Dr _____________Cr

--- 100000 106000 --

50000 --

Applied factory overhead Accumulated depreciation

Dr_____________Cr__ _ Dr ___________Cr_

--- 1250000 --- 50000

Finished goods Cost of goods sold

Dr_____________Cr__ _ Dr ___________Cr_

166000 --- --- 263400

--- 143200

Material end =?

Material (end) = 148200 +80000+56000-4000-68000=

Work in process (end) = ?

work in process = 148200+166000-143200 =171000

8 0

3 years ago

For each of the below, indicate where each item should be presented in the statement of cash flows (using the indirect method) u

Nataly_w [17]

Answer:

Blank 1 Blank 2

i. Depreciation expense A I

ii. Purchase of office equipment B D

iii. Decrease in accounts receivable A I

iv. Payment of cash dividends C D

v. Conversion of bonds into common stock D N

vi. Sold land and warehouse used in the corp. B I

vii. Gain on sale of land and warehouse in part vi. A D

viii. Issued common stock for cash C I

ix. Decrease in accounts payable A D

x. Increase in inventory A D

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached pdf for the complete question.

How each of the item will appear in the the statement of cash flows (using the indirect method) is also provided below:

XYZ Company

Statement of Cash Flows (Indirect Method Format)

For the year...

Details $ $ 

Operating activities:

Net profit xxx

Adjustment to reconcile net income:

i. Depreciation expense xx

iii. Decrease in accounts receivable xx

vii. Gain on sale of land and warehouse in part vi. (xx)

ix. Decrease in accounts payable (xx)

x. Increase in inventory (xx)

Net cash flows from operating activities xxx

Investing activities:

ii. Purchase of office equipment (xx)

vi. Sold land and warehouse used in the corporation xx

Net cash flows from investing activities xxx

Financing activities:

iv. Payment of cash dividends (xx)

viii. Issued common stock for cash xx

Net cash flows from investing activities xxx

Net cash flow for the year xxx

Beginning cash balance xxx

Ending cash balance  xxx 

Note: The does not affect the cash flows statement:

v. Conversion of bonds into common stock

Download pdf

8 0

3 years ago

Five productive activities where division of labour is not needed​

Five productive activities where division of labour is not needed