How does personal financial planning help individuals and families meet their financial goals?

A company pays each of its two office employees each Friday at the rate of $210 per day for a five-day week that begins on Monda

marusya05 [52]

Answer:

Correct answer is:

Debit Salaries Expense $840

Credit Salaries Payable $840

Explanation:

2 employees each paid at $ 210 per day so daily salary expense is $210*2 = $420.

The accounting period ends on Tuesday and both employees work for Monday and Tuesday so the 2 days salaries expense is $420*2= $840.

As the salaries are paid on every Friday so there is a liability on a company for the 2 days salary payable to be recorded on accounting period close date i.e Tuesday.

4 0

3 years ago

Read 2 more answers

The Truth-in-Lending Act gives debtors the right to rescind certain transactions for a period of ______ business days from the d

inysia [295]

Answer:

three

Explanation:

The Truth-in-Lending Act (TILA) applies to home loans. It requires lenders to disclose all costs related to a home loan, provides rescission rights for some transactions, and impose restrictions on home equity credits. But the TILA cannot set the interest rates or other fees charged by the lender, it only requires the lender to disclose the complete information, e.g. APR, monthly payments and amount financed.

3 0

4 years ago

If the seller has reason to believe that nonconforming goods will be acceptable to the buyer, this could constitute as an except

Blababa [14]

Answer:

Perfect Tender Rule

A. True

Explanation:

The Uniform Commercial Code's Article 2 recognizes the legal right of a buyer of goods to demand precise conformity of the goods to the product description in quality, quantity, and delivery manner. Therefore, the buyer may reject goods offered by the seller which do not conform to the earlier product descriptions. This rule is called the Perfect Tender Rule. An exception to this rule will be if the seller has a reason to believe that non-conforming goods will be acceptable to the buyer.

4 0

3 years ago

The last step of the human resource planning system is to: publish a human resource inventory listing the names, ages, job title

Anastaziya [24]

The last step of the human resource planning system is to: establish a strategic plan for recruiting, selecting, training, appraising, compensating, and scheduling the labour force

Explanation:

Human Resource Planning (HRP) is the method of forecasting the company's future human resource demands and deciding how the company's existing human resources expertise can be used to meet these requirements.

The strategy employed by the company to keep a steady supply of qualified personnel while avoiding vacancies or surpluses in its workforce is human resources preparation. A successful HRP approach will mean a company's competitiveness and profitability.

The HRP process consists of four key steps:

These include study of current labour supply,
Labour demand forecasts,
The balance of expected job demand and supply, and
Support for organisational priorities.

7 0

3 years ago

Acme Manufacturing Company prepared a fixed budget based on the expected sales of 160,000 units. That fixed budget included vari

Ksju [112]

If Acme Manufacturing Company uses flexible budgeting and actually sells 200,000 units during the period, these amounts will be included in its flexible budget performance report:

Variable costs = $1,000,000

Fixed costs = $240,000

<h3>What is a flexible budget?</h3>

A flexible budget adjusts the budget according to the activity or volume levels of the company.

For instance, if the total variable costs is $800,000 with expected sales of 160,000 but the actual sales equal 200,000, the flexible budget will be adjusted to $1,000,000 ($800,000/160,000 x 200,000).

<h3>Data and Calculations:</h3>

Expected sales = 160,000 units

Fixed Budget Figures:

Total variable costs = $800,000

Total fixed costs = $240,000

Flexible Budget Figures:

Total variable costs = $1,000,000 ($800,000/160,000 x 200,000)

Total fixed costs = $240,000

Thus, the flexible budget will still maintain the total fixed costs since they do not vary according to the volume level, within the relevant range.

Learn more about flexible budgets at brainly.com/question/14015382

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3 0

2 years ago