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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 Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage

liberstina [14]

Answer: See explanation

Explanation:

a. The moving average is calculated as:

= sum demand for 2 yr/2

The moving average for next year will be:

= (3800+3700)/2

= 7500/2

= 3,750 Miles

(b) The mean absolute deviation(MAD)

= Sum(|Dt-Ft|)/n

Therefore, the moving average for Y3 will be:

= (3000+4000)/2

= 7000/2

= 3500

Moving Avge for Y4 F(4) will be:

= (4000+3400)/2

= 3700

Moving Avge for Y5 will be:

= (3400+3800)/2

= 7200/2

= 3600

Therefore, MAD will be:

= Sum (|3500-3400|+|3700-3800|+|3600-3700|)/3

(100+100+100)/3

= 300/3

= 100

So Weighted moving average for Y6 will be:

= ((3800 × 0.4)+(3700 × 0.6))/(0.4+0.6)

=1520 + 2220

= 3,740

MEAN ABSOLUTE DEVIATION:

= Sum(|Dt-Ft|)/n

Weighted moving average for Y3:

= (3000 × 0.4c+ 4000 × 0.6)/(0.4+0.6)

= 3600

Weighted moving average for Y4:

= (4000 × 0.4 + 3400 × 0.6)/(0.4+0.6)

= 3640

Weighted moving average for Y5:

= (3400 × 0.4+3800 × 0.6)/(0.4+0.6)

= 3640

Therefore, MAD

= Sum(|3600-3400|+|3640-3800|+|3640-3700|)/3

MAD = (200+160+60)/3 = 140

(d)Expomentioal Smoothing F(t) will now be:

SO F(1) = 3000 + 0.5 × (3000-3000)

= 3000

F(2) = 3000 + 0.5 × (4000-3000)

= 3500

F(3) = 3500 + 0.5 × (3400-3500)

= 3450

F(4) = 3450 + 0.5 × (3800-3450)

= 3625

F(5) = 3625 + 0.5 × (3700-3625)

= 3663

Therefore, forecast will now be 3663 miles

3 0

3 years ago

Edgar, Inc. has a materials price standard of $2.00 per pound. Six thousand pounds of materials were purchased at $2.20 a pound.

butalik [34]

Answer:

materials quantity variance: 1,200 unfavorable

Explanation:

$(standard\:quantity-actual\:quantity) \times standard \: cost = DM \: quantity \: variance$

std quantity 5400.00

actual quantity 6000.00

std cost $2.00

$(5,400 - 6,000) \times 2.00 = DM \: quantity \: variance$

difference -600.00

quantity variance $(1,200.00)

The difference between standard and actual quantity is negative. We used more pounds than expected, the variance will be unfavorable.

600 extra pounds at $2.00 each = 1,200

6 0

4 years ago

Why do nations often impose trade barriers that make it difficult for their own citizens to trade with people in another country

melisa1 [442]

Answer:

The correct answer is d. Trade restrictions often provide benefits to highly visible special interest groups while imposing a less visible cost on the general populace.

Explanation:

A trade restriction is an artificial restriction to the exchange of goods and / or services between two countries. It is the byproduct of protectionism. However, the term is controversial because what a party can see as a trade restriction can be seen as a way to protect consumers from inferior, harmful or dangerous products. For example, Germany demanded that beer production adhere to its purity law. The law, originally implemented in Bavaria in 1516 and eventually converted into a law for the newly unified Germany in 1871, meant that many foreign beers could not be sold in Germany as "beer." This law was annulled in 1987 by the Court of Justice of the European Union, but remains voluntarily followed by many German breweries.

7 0

3 years ago

On January 1, 2021, Instaform, Inc., issued 10% bonds with a face amount of $50 million, dated January 1. The bonds mature in 20

skelet666 [1.2K]

Answer:

1-a. Determine the price of the bonds at January 1, 2021.

PV of face value = $50 / (1 + 6%)⁴⁰ = $4,861,109

PV of coupon payments = $2.5 x 15.046 (PVIFA, 6%, 40 periods) = $37,615,000

market price = $42,476,109

1-b. Prepare the journal entry to record their issuance by Instaform.

Dr Cash 42,476,109

Dr Discount on bonds payable 7,523,891

Cr Bonds payable 50,000,000

2-a. Assume the market rate was 9%. Determine the price of the bonds at January 1, 2021.

PV of face value = $50 / (1 + 4.5%)⁴⁰ = $8,596,435

PV of coupon payments = $2.5 x 18.40158 (PVIFA, 4.5%, 40 periods) = $46,003,961

market price = $54,600,396

2-b. Assume the market rate was 9%. Prepare the journal entry to record their issuance by Instaform.

Dr Cash 54,600,396

Cr Bonds payable 50,000,000

Cr Premium on bonds payable 4,600,396

3. Assume Broadcourt Electronics purchased the entire issue in a private placement of the bonds. Using the data in requirement 2, prepare the journal entry to record the purchase by Broadcourt.

Dr Bonds receivable 50,000,000

Dr Discount on bonds receivable 4,600,396

Cr Cash 54,600,396

8 0

3 years ago

Zoey Bella Company has a payroll of $9,440 for a five-day workweek. Its employees are paid each Friday for the five-day workweek

Ratling [72]

Answer:

Dr Salaries expense $7,552

Cr Accrued salaries $7,552

Being entries to record salaries payable as at year end

Explanation:

When an expense is incurred but yet to be paid by an organization, the entries required are

Dr Expense (p/l)

Cr Accrued expense (B/s)

when payment is made

Dr Accrued expense (B/s)

Cr Cash account

Given that Zoey Bella Company has a payroll of $9,440 for a five-day workweek and the year ends on a Thursday. As such, the company as at 31 December has incurred salaries for 4 days. This has to be accrued for but first to calculate the amount

= 4/5 * $9,440

= $7,552

Hence adjusting entry required on December 31, assuming the year ends on a Thursday

Dr Salaries expense $7,552

Cr Accrued salaries $7,552

Being entries to record salaries payable as at year end

7 0

3 years ago

What is a payroll clerk​

What is a payroll clerk