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4 years ago

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Jenna is the accounting clerk for an organization. She records a single journal entry for the overall compensation expenses the

company incurs in the payroll register. What type of journal entry does she make?
A payroll register helps Jenna record a _________ journal entry for the overall compensation paid by the company.

1 answer:

bija089 [108]4 years ago

8 0

Answer

Payroll Journal Entry

Explanation

A payroll entry is used to record the compensations paid to employees by the company. Payroll journal entries can be initial recordation, accrued wages or manual payments. This entry is prepared from the payroll register and it includes debits for labor, salaries and the firm’s fraction of payroll taxes.

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Orem Corporation's current liabilities are $116,160, its long-term liabilities are $474,240, and its working capital is $162,600

jekas [21]

Answer:

Total long-term assets must equal: d $2,771,640

Explanation:

Orem Corporation's Total Debt (liabilities) = current liabilities + long-term liabilities = $116,160 + $474,240 = $590,400

Debt-to-equity ratio = Total Debt/Total Equity

Total Equity = Total Debt/Debt-to-equity ratio = $590,400/0.24 = $2,460,000

Working capital = Current assets - Current abilities

Current assets = Working capital + Current abilities = $162,600 + $116,160 = $278,760

Basing accounting equation:

Total assets = Current assets + Long-term assets = Total liabilities + Total Equity = $590,400 + $2,460,000 = $3,050,400

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4 years ago

Petter Jansen purchased 100 shares each in Sygnette and Joey Stores a year ago. He paid $62.85 and $121.15 per share respectivel

yawa3891 [41]

Answer:

2.58%

Explanation:

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initial value of Petter's portfolio = (100 x $62.85) + (100 x $121.15) = $18,400
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3 years ago

The account Work-in-Process Inventory: Group of answer choices Consists of completed goods that have not yet been sold. Consists

Rudiy27

Answer:

Consists of goods being manufactured that are incomplete.

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3 years ago

Read 2 more answers

Foods Galore is a major distributor to restaurants and other institutional food users. Foods Galore buys cereal from a manufactu

Oksanka [162]

Answer:

The appropriate solution is:

(a) 2828 cases each time

(b) $4005656.85

(c) $3609800

Explanation:

The given values are:

Annual demand,

D = 200,000 cases

Per case cost,

C = $20

Carrying host,

H = $10 \ percent\times 20$

= $ $2$

Ordering cost,

S = $40

(a)

The economic order quantity will be:

⇒ $Q^*=\sqrt{(\frac{2DS}{H} )}$

On substituting the values, we get

$=\sqrt{[\frac{(2\times 200000\times 40)}{2} ]}$

$=\sqrt{\frac{16000000}{2} }$

$=2828$

(b)

According to the question,

The annual ordering cost will be:

= $(\frac{D}{Q^*}) S$

= $(\frac{200000}{2828}) 40$

= $2828.85$ ($)

The annual carrying cost will be:

= $(\frac{Q^*}{2})H$

= $(\frac{2828}{2} )2$

= $2828$ ($)

The annual purchase cost will be:

= $D\times C$

= $200000\times 20$

= $4000000$ ($)

Now,

The total inventory cost will be:

= $2828.85+2828+4000000$

= $4005656.85$ ($)

(c)

According to the question,

Order quantity,

Q = 10000 cases

Per case cost,

C = $18

Carrying cost,

H = $10 \ percent\times 18$

= $1.8$

The annual ordering cost will be:

= $(\frac{D}{Q} )S$

= $(\frac{200000}{10000} )40$

= $800$ ($)

The annual carrying cost will be:

= $(\frac{Q}{2} )H$

= $(\frac{10000}{2} )1.8$

= $9000$ ($)

The annual purchase cost will be:

= $D\times C$

= $200000\times 18$

= $3600000$

Now,

The total cost of inventory will be:

= $800+9000+3600000$

= $3609800$ ($)

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Alexeev081 [22]

Answer:

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Explanation:

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Once consumption starts to fall, a domino effect takes place and the businesses are negatively affected, and they are forced to lay off workers, and the government is also affected because their revenue decreases and their spending increases.

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3 years ago