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3 years ago

What is a payroll clerk

2 answers:

8 0

A Payroll Clerk collects timekeeping information of employees, manages benefit packages with payroll software and accurately calculates pay according to the hours worked. Payroll clerks manage any employee complaints and questions regarding payroll and investigate and resolve any errors in payroll in a timely manner.

Vlad1618 [11]3 years ago

4 0

Answer:

If you are studying to work in accounting and you are interested in working in payroll, it is time to learn just what a payroll clerk does. It is the payroll clerk’s job to collect time sheets, review timekeeping logs for accuracy, and issue paychecks and other disbursements to employees within an organization. In addition to basic job functions, clerks are accountable for processing various requests and processing various types of verifications. If you are looking for an entry-level role in accounting and this title interests you, read this job profile.

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The Gorman Group issued $920,000 of 9% bonds on June 30, 2021, for $1,011,047. The bonds were dated on June 30 and mature on Jun

Mandarinka [93]

Answer and Explanation:

The Journal entry is shown below:-

1. Cash Dr, $1,011,047

To bonds payable $920,000

To Premium issue of bonds $91,047

(Being Issue of bonds at premium is recorded)

2. The completion of the table is shown below:-

Dec 31, 2018 Amount Interest rate Total

Interest expense $1,011,047 4% $40,441.8

(8% × 6 ÷ 12)

Cash $920,000 4.5% $41,400

(9% × 6 ÷ 12)

Amortization of premium $958.2

Interest expense Dr, $40,441.8

Premium issue of bonds Dr, $9,582

To Cash $41,400

(Being interest expense and amortization of premium is recorded)

3. Dec 31, 2018 Amount Interest rate Total

Interest expense $1,010,088 4% $40,403.5

( $1,011,047 - $958.2) (8% × 6 ÷ 12)

Cash $920,000 4.5% $41,400

(9% × 6 ÷ 12)

Amortization of premium $996.5

Interest expense Dr, $40,403.5

Premium issue of bonds Dr, $995.5

To Cash $41,400

(Being interest expense and amortization of premium is recorded)

6 0

3 years ago

after you analyzed demand, you took steps to make sure your business made sense financially. How will thinking on the margin hel

svetlana [45]

Answer:

Thinking on the margin will ensure that each pair of inserts produced is turning a profit. Once a profit is no longer being made on a pair of inserts, production must be cut back. Understanding these margins will also help me stay competitive in a market that is open to other producers. If additional producers enter the market, I know that I have the ability to lower prices or offer discounts while still maximizing profits.

Explanation:

4 0

3 years ago

Copland submitted a piece for radio broadcast on cbs radio. it eventually became titled:

Dima020 [189]

The answer is that it eventually became titled as Prairie Journal.
CBS Radio stands for Columbia Broadcasting System radio and within CBS Corporation it is one of the oldest units. <span>The company was founded in 1972 that would become CBS Radio and it was founded as </span>Infinity Broadcasting Corporation.

3 0

4 years ago

Explain the difference between the proportional method and the incremental method of allocating the proceeds of lump-sum sales o

LenaWriter [7]

Answer:

When a company sells different securities together (this usually happens during mergers and acquisitions):

and the price of all the securities is not certain, the incremental method will first allocate proceeds to the sale of securities whose price is actually certain. The remaining proceeds will be allocated to the securities whose price is uncertain. E.g. total sales $10 million, stocks worth $5 million were sold and bonds worth ? million were sold. The company will allocate $5 million to stocks and $5 million to bonds.
and the price of all the securities is certain, the proportional method allocates the sales proceeds proportionally among the different securities sold. E.g. total sales $10 million, stocks worth $5 million were sold and bonds worth $3 million were sold. The company will allocate ($5/$8) x $10 million = $6.25 million to stocks and $3.75 to bonds.

6 0

3 years ago

Newham Corporation produces and sells two products. In the most recent month, Product R10L had sales of $31,000 and variable exp

Artist 52 [7]

Answer:

a.$75,508

Explanation:

Newham Corporation

Break Even Sales = Fixed Expenses/ 1- (Variable Expenses/ Sales)

We combined the Break Even Sales by adding the sales of the two products and the variable expenses of the two products.

Break Even Sales =$46,060/1-($10,780+$18,470/$31,000+ $44,000)

Break Even Sales =$46,060/1-(29250/75,000)

Break Even Sales =$46,060/ 1-0.39

Break Even Sales =$46,060/ 0.61

Break Even Sales = $75,508.19

6 0

3 years ago

What is a payroll clerk​

What is a payroll clerk