Answer:
Debit: Salaries and wages expense $25,056
Credit: Salaries and wages payable $25,056
<em>(To recognize the salaries and wages payable at year-end)</em>
Explanation:
Merando Industries employs a 5-day workweek - this means $41,760 normal weekly wages can be divided by 5 to arrive at the daily workweek wages, which is $41,760 / 5 = $8,352.
If the fiscal year-end is a Wednesday, the company has to recognize a salaries and wages payable of $25,056 due to the following:
- the workweek remains 2 weekdays to complete
- the company pays at the completion of the 5-day workweek
- there is no need to recognize the remaining 2 days next year as salaries and wages payable since the employer may not have control over the employees - they may decide the exit the company
So, the amount to be recognized will be $8,352 x 3 = $25,056.
Answer:
Total cash collections in February are $133600
Explanation:
The collections in the month of February will include 20% of sales made in February in account for cash sales.
Cash sales = 140000 * 0.2 = $28000
Thus, Credit sales for February are = 140000 - 28000 = $112000
Out of these credit sales made in February, 60% will be collected in February. Thus, credit sales made in February that will be collected in February are,
February collections from February credit sales = 112000 * 0.6 = $67200
Total cash collections in February from February sales = 67200 + 28000
Total cash collections in February from February sales = $95200
In addition, out of the credit sales made in January, 40% will be collected in February.
Collection from January sales in February = 120000 * 0.8 * 0.4 = $38400
Total collections in February = 38400 + 95200 = $133600
Answer:
they are all examples of programming language
Answer:
Strategic Partnership
Explanation:
This is a arrangement where two or more companies come together under contractual agreement to work as one in other to achieve a goal or deliver a project, for the benefit of both parties.
In most cases one of the parties has a project to execute but lacks the resources to adequately execute it and as a result needs support from one or two more partners. They more or less become a joint venture for an agreed upon length of time.
