The journal entry to record the first annual payment fot the loan to Shady Creek Resort is:
Date Account title Debit Credit
June, 30 Interest expense $27,000
Notes payable $24,421
Cash $51,421
<h3>How is the first annual payment recorded?</h3>
The interest expense is:
= 330,000 x 9%
= $27,000
Notes payable is:
= 51,421 - 27,000
= $24,421
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Max is a waiter at a coffee shop. He gets paid $100 every day at 9 p.m. regardless of the number of customers he serves during the day. In this scenario, max's payment is based on the fixed-interval schedule. Hence, option C is correct.
<h3>What is fixed-interval schedule?</h3>
In fixed-interval schedules, the first reaction is only rewarded when a predetermined amount of time has passed. With this schedule, reactions are quicker toward the end of the interval but slower immediately following the reinforcement.
A child may receive a candy as part of a fixed-ratio program after reading three to ten pages of a book.
Thus, option C is correct.
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The options are missing-
a. fixed-ratio schedule
b. variable-interval schedule
c. fixed-interval schedule
d. variable-ratio schedule
Answer:
f. $615
Explanation:
The standard cost for 2,850 pounds is $18,328.5 (=$6.45 * 2,850)
Materials purchase-price variance–favourable $855; it means standard price is higher and actual material price. Then we have actual cost for purchased 2,850 pounds is $17,527.5 (=$18,328.5-$855)
Then the actual price per pound $6.15 (=$17,527.5/2,850)
The difference between purchased and actual quantity used is 100 pounds (= 2,850 pounds - 2,750 pounds)
The direct materials usage variance for the period is $650 (= $6.15 * 100 pounds)
Answer:
Verification of agreement of job time tickets with employee clock card hours by a payroll department employee.
Explanation:
An effective internal control system
This simply aim to give adequate hope that the policies, processes, tasks, behaviours etc, of an organisation, when complied, helps its effective and efficient operation of the organisation etc.
It is very essential in the payroll and personnel cycle to prevent over payments and payments to nonexistent employees. Proper authorization by the human resources department should add and delete employees from the payroll or change pay rates and deductions. The number of hours, overtime, must be approved by employees supervisor.
Payroll computations should be separately verified. A member of management should review the payroll output for any obvious errors or unusual amounts.
Answer:
The right approach is "$21,850". A further solution is provided below.
Explanation:
The given values are:
Employer pays,
= $15,450
Unemployment compensation,
= $3,400
At the end of the year, she paid,
= $3,000
For year 2017,
Alicia Gross income will be:
= 
= 
($)
