1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Dafna1 [17]
3 years ago
12

Junkman Autos uses a separate checking account to pay their employees. The gross pay for the period was $1,000. However, after d

eductions were taken out, the net pay for the period was $820. The journal entry to record the issuance of payroll checks to their employees is:
Business
1 answer:
STALIN [3.7K]3 years ago
6 0

Answer:

journal entry are given below

Explanation:

given data

gross pay for the period = $1,000

net pay for the period =  $820

to find out

journal entry to record the issuance of payroll checks

solution

journal entry are as

Account Name                       Debit                      Credit

Labor Expenses                        $1000

payroll taxes Payable                                                  $820

Net Payroll Payable                                                     $180

( $1000 - $820 )

You might be interested in
What is one good way to find out how well prospects will do a job?
amid [387]

Answer:

do an interview

Explanation:

.........

7 0
2 years ago
Read 2 more answers
Truman Co. sells a large number of common household items, while Stapleton sells a small number of expensive items. The two comp
slava [35]

Answer:

Truman has a higher inventory turnover ratio and Stapleton has a higher gross profit ratio ( D )

Explanation:

Truman sell a large number of common household items ( assuming 100 unit )

while Stapleton sells a small number of expensive items ( assuming 20 units )

lets assume : Truman sells at $5 per unit and Stapleton sells at $50 per unit

with the above assumptions

Truman gross profit ratio = $5 * 100 units = $500

Stapleton gross profit ratio = $50 * 20 units = $1000

from the above assumptions you can deduce that the gross profit made by Stapleton is higher although he sells a smaller amount of goods while Truman has a higher Turnover because of its higher number of sold units

4 0
3 years ago
Which type of investment involves lending money and charging interest on it?
Pavel [41]
C. Debit investment
6 0
3 years ago
You pay $5,500 per year for insurance on your building. Fire damage caused $15,000 in repairs. The insurance company paid for th
ElenaW [278]

Based on the amount you pay now and the increase in insurance premiums, your annual insurance costs next year would be $6,325.

<h3>What is the next insurance cost next year?</h3>

The annual cost of insurance refers to the amount that is paid in premiums in a year.

That cost is currently $5,500 but will increase by 15%.

= Current insurance cost x ( 1 + rate of increase)

Solving gives:

= 5,500 x ( 1 + 15%)

= $6,325

Find out more on insurance cost at brainly.com/question/4953989.

6 0
2 years ago
Contribution Income Statement and Cost-Volume-Profit Graph Picnic Time produces a picnic basket that is sold for $100 per unit.
Ira Lisetskai [31]

Answer:

Graph Picnic Time

Contribution Income Statement

For the Month of July

Sales                                               $400,000

Less variable costs:

Direct materials                              $100,000

Direct labor                                        60,000

Manufacturing overhead                  20,000

Selling and administrative                 16,000

Total variable costs                       $196,000

Contribution margin                     $204,000

Less fixed cost:

Manufacturing overhead $36,000

Selling and administrative 68,000

Total fixed costs                            $104,000

Profit                                              $100,000

Explanation:

a) Data and Calculations:

Selling price per picnic basket = $100

July Production and sales = 4,000 baskets

Variable Costs per Unit:

Manufacturing:

Direct materials              $25

Direct labor                        15  

Manufacturing overhead   5

Total                               $45

Selling and administrative 4

Total                               $49

Fixed Costs per Month

Manufacturing overhead $36,000

Selling and administrative  68,000

Total                                 $104,000

Contribution Income Statement

For the Month of July

Sales                                               $400,000 ($100 * 4,000)

Less variable costs:

Direct materials                              $100,000 ($24 * 4,000)

Direct labor                                        60,000 ($15 * 4,000)

Manufacturing overhead                  20,000 ($5 * 4,000)

Selling and administrative                 16,000($4 * 4,000)

Total variable costs                       $196,000

Contribution margin                     $204,000

Less fixed cost:

Manufacturing overhead $36,000

Selling and administrative 68,000

Total fixed costs                            $104,000

Profit                                              $100,000

8 0
3 years ago
Other questions:
  • You are the brand manager for a new line of ready-to-drink coffee line from Pepsi cola. Which opinion leaders or reference group
    7·1 answer
  • _____ determine what sales volume must be reached before the company's total revenue equals total costs and no profits are earne
    7·1 answer
  • Q 7.13: a(n)________ requires a journal entry by the depositor.
    8·1 answer
  • Which of the following conforms to the notion put forward by the school of thought associated with stage models? a. Natural reso
    12·1 answer
  • The bank statement for Tetra Company contained the following items: a bank service charge of $10; a credit memo for interest ear
    13·1 answer
  • A 7-year municipal bond yields 4.8%. Your marginal tax rate (including state and federal taxes) is 39.00%. What interest rate on
    5·1 answer
  • Ann wants to be a manager who directs the work of others
    6·1 answer
  • How do you get cheap airline tickets?
    5·1 answer
  • Which form of feasibility incorporates both physical and mental integration of the design work system during job completion
    14·1 answer
  • Real estate licensee kimmy is involved in a dispute with another licensee, titus. kimmy prefers to use ______ to resolve the iss
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!