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Brilliant_brown [7]
3 years ago
15

Snow Co. began operations on January 2, 2017. It employs 15 people who work 8-hour days. Each employee earns 10 paid vacation da

ys annually. Vacation days may be taken after January 10 of the year following the year in which they are earned. The average hourly wage rate was $24.00 in 2017 and $25.50 in 2018. The average vacation days used by each employee in 2018 was 9. Snow Co. accrues the cost of compensated absences at rates of pay in effect when earned.Prepare journal entries to record the transactions related to paid vacation days during 2017 and 2018.
Business
1 answer:
Arlecino [84]3 years ago
3 0

Answer:

Given that,

Number of employees who work for 8-hours a day = 15

Annual paid leaves for each employee = 10

Average hourly wage rate(2017) = $24.00

Average hourly wage rate(2018) = $25.50

Average vacation days used by each employee in 2018 = 9

Therefore, the Journal entries are as follows:

(1) On 2017,

Wages expense A/c       Dr.  $28,800

To vacation wages payable                    $28,800

( 15 × 8 hrs × 10 days × 24)

(vacation wages)

(2) On 2018,

Wages expense A/c                                                   Dr. $1,620

Vacation wages payable(15 × 8 hrs × 9 days × 24) Dr. $25,920

To cash ( 15 × 8 hrs × 9 days × 25.50)                                             $27,540

(cash paid for vacation wages)

(3) On 2018,

Wages expense A/c       Dr.  $30,600

To vacation wages payable                    $30,600

( 15 × 8 hrs × 10 days × 25.50)

(vacation wages due in 2018)

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sukhopar [10]

In Gibbons v. Ogden, the Supreme Court ruled that rail companies  D. states could not restrict trade within their jurisdictions.

Under the constitution,  rail companies have the electricity to make all laws that shall be vital and proper for carrying into execution the foregoing powers. Aaron Ogden was given permission to function his steamboats in the big apple. Thomas Gibbons changed and allowed to function his steamboats in the big apple.

The ruling in Gibbons v. Ogden asserted Congress's authority to adjust interstate trade on the idea of the Supremacy Clause. It set a precedent that Congress had the strength to overturn country rules if interstate commerce were worried.

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8 0
1 year ago
Show how Cablevision can conduct an ROI analysis. Describe the information that the company should collect and how it should b c
Flauer [41]

Answer:

Explanation:

Cablevision can easily accomplish this by doing the following. First gather the number of sales of premium services and other products that non-trained individuals are accomplishing in a given time period (example, one month). Next, under the same conditions place the newly trained individuals and gather the same data from them (number of sales/subscribers gained, premium products, and other products). Finally, they would simply need to compare the difference in the number of sales to see if the training paid off. They would also need to calculate if the difference in sales surpasses the costs of training.

3 0
3 years ago
Lerner Co. had 200000 shares of common stock, 20000 shares of convertible preferred stock, and $600000 of 10% convertible bonds
mestny [16]

Answer:

Basic EPS=$1.08                

Explanation:

Basic EPS= Net income after tax-preferred shares' dividend/Weighted average of outstanding shares

Net income after tax=$360,000*.7=$252,000

Dividend to preference shareholders=20,000*1.8=$36,000

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Basic EPS=($252,000-$36,000)/200,000

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7 0
3 years ago
Read 2 more answers
Rachel McGovern bought a 10-year bond for $921.77 seven years ago. The bond pays a coupon of 15 percent semiannually. Today, the
trasher [3.6K]

Answer:

17%

Explanation:

Purchase price of bond = $921.77

Years investment held = n = 7

Coupon rate = C = 15%

Frequency of payment = m = 2

Annual coupon = $1,000 × (0.15/2) = $75.00

Realized Yield = i

Selling price of bond = PB = $961.22

The realized rate of return is approximately 16.6 percent. Using a financial calculator provided an exact yield of 16.625 percent.

5 0
3 years ago
Peer group analysis can be performed byA) management choosing a set of firms that are similar in size or sales, or who compete i
ANTONII [103]

Answer:

D) Only a and b relate to peer group analysis.

Explanation:

Peer group analysis allows investors to see how a certain fund performs over various periods compared to other funds within the same investment strategy. Based on this information both management choosing a set of firms that are similar in size or sales, or who compete in the same market as well as using the average ratios of this peer group, which would then be used as the benchmark, are related to the peer group analysis.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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3 years ago
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