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3 years ago

What is true about analyzing the budget?

Business

1 answer:

nirvana33 [79]3 years ago

8 0

Answer:

In business, budgets provide the organizing framework for financial planning and tools for controlling spending.

In large entities, the Budget Office Director and staff work with individual managers and others seeking funding approval. As a result, budget proposals conform to local policies. And, the entire proposal package aligns with group objectives.

Explanation:

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During its first month of operations, Neptune Company (1) borrowed $200,000 from a bank, and then (2) purchased an equipment cos

sveta [45]

Answer:

$330,000

Explanation:

the journal entries would be:

Dr Cash 200,000

Cr Notes payable - bank 200,000

Dr Equipment 80,000

Cr Cash 40,000

Cr Notes payable 40,000

Dr Merchandie inventory 60,000

Cr Accounts payable 60,000

Dr Accounts receivable 120,000

Cr Service revenue 120,000

Dr Accounts payable 30,000

Cr Cash 30,000

Dr Utilities expense 60,000

Cr Cash 60,000

Assets:

Cash = 200,000 - 40,000 - 60,000 - 30,000 = $70,000
Equipment = $80,000
Merchandise inventory = $60,000
Accounts receivable =$120,000
total = $330,000

8 0

3 years ago

Read 2 more answers

The Internet emerged as a new medium for visualization and brought all the following EXCEPT new forms of a. computation of busin

UkoKoshka [18]

Answer:

The correct answer is letter "A": computation of business logic.

Explanation:

Business Logic refers to a series of algorithms that are the basis of different business software. Business logic implements higher-level algorithms to process workflows and data of organizations to generate an accurate output. The Internet itself did not bring business logic to the surface but the implementation of Information Technology (IT) to business.

4 0

3 years ago

A 4-cylinder engine with 543 cubic centimeter volume per cylinder has what approximate displacment

cluponka [151]

Answer:

Explanation:

5 0

3 years ago

The scripting process is answering interview questions using a formula which includes: A. directly answering the question, backi

defon

Answer:

A. directly answering the question, backing up the answer with a specific example, and tying the answer back to the company and/or the position.

Explanation:

There are various strategies for answering interview questions and the scripting process is one of them.

The scripting process involves the respondent going through the following steps:

- address the question that is asked

- provide and example that effectively backs up the answer

- highlighting the relevance of the answer to the company or position.

This process helps give a robust answer while displaying an understanding of the role requirements by the interviewee.

3 0

3 years ago

Calculate Payroll K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following

Bumek [7]

Answer:

1. Consultant's earning

Gross pay $2,810

Net pay $1,669.25

2. Computer Programmer

Gross pay $2,520

Net pay $2,093

3. Administrator Income

Gross pay $3,565

Net pay $2,782.62

Explanation:

Calculation to Determine the gross pay and the net pay for each of the three employees for the current pay period

1. Calculation for Consultant Income gross pay and Net pay

Consultant's earning = $2,810

Based on the information given Consultant's GROSS PAY will be $2,810

Calculation to determine the Net pay using this formula

NET PAY = Gross pay - Withheld tax - Medicare tax - social security tax

Let plug in the formula

Where,

Withheld tax = $930

Social security tax = 6% of Total earning

Social security tax= $2,810 * 6%

Social security tax= $168.6

Medicare tax = 1.5% of total earning

Medicare tax= $2,810 * 1.5%

Medicare tax = $42.15

Let plug in the formula

NET PAY = $2,810 - $930 - $42.15 - $168.6

NET PAY= $1,669.25

Therefore Consultant Income gross pay is $2,810 and Net pay is $1,669.25

2. Calculation to determine Computer Programmer gross pay and Net pay

Calculation for GROSS PAY

Rate of earning = $36 per Hour

Working Hours = 55 Hours

Computer programmer Earning = $36 * 55

Computer programmer Earning= $1,980

Overtime hours = 55 - 40

Overtime hours= 15 hours

Overtime earning = 2 times of hourly rate = 15* $36

Overtime earning= $540

GROSS PAY = $1,980+$540

GROSS PAY=$2,520

Calculation to determine the NET PAY

Using this formula

Net Pay = Gross pay - Withheld tax - Medicare tax - Social security tax

Where,

Withheld tax = $238

Social security tax = ($1,980+$540) * 6%

Social security tax= $2,520*6%

Social security tax=$151.2

Medicare tax = 1.5% of total earning

Medicare tax= $2,520 * 1.5%

Medicare tax = $37.8

Let plug in the formula

NET PAY = $2,520 - $238 - $37.8 - $151.2

NET PAY =$2,093

Therefore Computer Programmer Gross pay is $2,520 and the Net pay is $2,093

3. Calculation for Administrator Income Gross pay and Net pay

Calculation for GROSS PAY

Rate of earning = $46 per Hour

Working Hours = 65 Hours

Administrator Earning = $46 * 65

Administrator Earning= $2,990

Overtime hours = 65 - 40

Overtime hours= 25 hours

Overtime earning = 1.5 times of hourly rate = 25 * ($46/2) ( half of the rate is taken)

Overtime earning =25*23

Overtime earning =$575

GROSS PAY = $2,990+$575

GROSS PAY =$3,565

Calculation to determine the NET PAY

Using this formula

Net Pay = Gross pay - Withheld tax - Medicare tax - Social security tax

Where,

Withheld tax = $515

Social security tax = ($2,990+$575) * 6%

Social security tax= $3,565*6%

Social security tax=$213.9

Medicare tax = 1.5% of total earning

Medicare tax = $3,565 * 1.5%

Medicare tax =$53.48

Let plug in the formula

NET PAY = $3,565 - $515 - $53.48 - $213.9

NET PAY= $2,782.62

Therefore Administrator Income is Gross pay $3,565 and the Net pay is $2,782.62

6 0

3 years ago