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mixas84 [53]
3 years ago
5

For the year ended December BL 2017, Lopez Company has implemented an employee bonus program based on Lopez’snet income, which e

mployees will share equally. Lopez‘s bonus expense is computed as $14,5611. Prepare the journal entry at December 31, 2017, to record the bonus due the employees.2 Prepare the journal entry at January 19, 2018, to record payment of the bonus to employees,
Business
1 answer:
amid [387]3 years ago
3 0

Answer: Net income Dr $14,5611

Bonus payable CR 14,5611

Narration. Bonus expenses payable to staff

Employee Bonus account Dr 14,5611

Bank/Cash CR. 14.5611

Narration. Payment of employees bonus for previous year.

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It is estimated that the maintenance cost on a new car will be $500 the first year. Each subsequent year, this cost is expected
Vsevolod [243]

Answer:

$-8,609

Explanation:

Calculation for How much would you need to set aside

Year Cashflows PVF 5% Present values

1 -500 *0.952381 =-476.19

2 -650(500+150) *0.907029 =-589.569

3 -800(650+150) *0.863838 =-691.07

4 -950(800+150) *0.822702 =-781.567

5 -1100(950+150) *0.783526 =-861.879

6 -1250(1100+150) *0.746215 =-932.769

7 -1400(1250+150) *0.710681 =-994.954

8 -1550(1400+150) *0.676839 =-1049.1

9 -1700(1550+150) *0.644609 =-1095.84

10 -1850(1700+150) *0.613913 =-1135.74

PV=Present value $-8,609

Therefore the amount you will need to set aside is $-8,609

7 0
2 years ago
Glumhoff​'s Packaging Department had the following information at July 31. All direct materials are added at the end of the conv
katovenus [111]

Answer:

Explanation:

The total equivalent units of direct materials and conversion costs for the month has been computed and attached.

Note that the conversion cost for the ending work in process was calculated as:

= $35,000 × 28%

= $35,000 × 0.28

= $9,800

Check the attachment for further analysis.

6 0
3 years ago
Great Harvest Bakery purchased bread ovens from New Morning Bakery. New Morning Bakery was closing its bakery business and sold
Liono4ka [1.6K]

Answer:

$759,000

Explanation:

Preparation of a schedule showing the amount at which the ovens should be recorded in Great Harvest’s Equipment account.

Purchase price 690,000

Add Freight costs 30,000

Add Electrical connection 4,000

Add Labor costs 32,800

Add Bread dough used in testing the oven 800

Add Safety Guards 1,400

Total cost of equipment $759,000

Therefore the amount at which the ovens should be recorded in Great Harvest’s Equipment account will be $759,000

8 0
3 years ago
If information processing was perfect, many studies conclude that individuals would tend to make __________ decisions using that
blondinia [14]

Answer: a. less than fully rational; behavioral biases

Explanation:  Information processing errors consist of forecasting errors , overconfidence  and conservatism which can lead investors to misestimate the true probabilities of possible events or associated rates of return; and assuming information processing was perfect, individuals would tend to less-than-fully rational decisions due to behavioral biases as confirmed by several studies.

4 0
3 years ago
On december 31, 2015, a company had assets of $16 billion and stockholders' equity of $8 billion. that same company had assets o
Natalija [7]
<span>On december 31, 2015, a company had assets of $16 billion and stockholders' equity of $8 billion. however it had assets of $20 billion and stockholders' equity of $9 billion as of december 31, 2016. during 2016, total sales revenue was $9 billion and total expenses was $7 billion. As Total asset is 20 billion and stockholders equity is 9 billion the liabilities are 11 billion. The Debt to Asset ratio = Liabilities / Assets = 11 Billion / 20 Billion = .55 (55%)</span>
8 0
3 years ago
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