All categories

3 years ago

The journal entry a company uses to record accrued vacation privileges for its employees at the end of the year is:________.

Business

1 answer:

Lilit [14]3 years ago

6 0

Answer:

C. debit Vacation Pay Expense; credit Vacation Pay Payable

Explanation:

In as much as the name implies, debit vacation pay expense of the said worker is moved to his/her credit vacation pay payable. And cases like this comes up when the said worker is about to go on a vacation. This vacation pay expense is been considered a liability because it causes depreciation in equity.

Therefore accrued vacation privileges of an employer are times in which a worker has to go on a free working period that in some cases can be a vacation which deals with a debit Vacation Pay Expense; credit Vacation Pay Payable by the end of the year.

You might be interested in

Xuechen graduated from culinary school at the top of her class, and signed an employment contract to work as a chef for one of C

antiseptic1488 [7]

Answer:

A) Yes, the employment contract has been breached, but the non-competition agreement has not been breached.

Explanation:

Xuechen signed a three year employment contract which she breached after a short time by quitting her job. The non competition agreement that she signed required her not to work as a chef for another restaurant, but since she is working as a manager, then she didn't breach that contract.

3 0

3 years ago

Read 2 more answers

As the winter holiday season was approaching, Margie decided to give each team a window display or an indoor display to decorate

Flura [38]

Answer:

The answer is autonomy (Option D)

Explanation:

Autonomy in human resource management refers to the level or degree of discretion and freedom which an employee is permitted to exercise when performing his/her job. In other words, it means granting employees the freedom on how to approach work.

A manager or superior like Margie (in the question) who gives employees autonomy simply gives minimal instruction on what needs to be achieved but allows the employees to go about the job in ways that best suit them.

7 0

2 years ago

Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, th

melomori [17]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Baka Corporation applies manufacturing overhead based on direct labor-hours.

The company based its predetermined overhead rate on total estimated overhead of $243,300 and 8,300 estimated direct labor-hours.

Actual manufacturing overhead for the year amounted to $244,400 and actual direct labor-hours were 5,800.

To determine the over or under application of manufacturing overhead, first, we need to calculate the predetermined manufacturing overhead rate:

predetermined manufacturing overhead rate= total estimated manufacturing overhead for the period/ total amount of allocation base

predetermined manufacturing overhead rate= 243,000/8,300= 29.28

Now, we can calculate the allocated overhead:

Allocated manufacturing overhead= predetermined manufacturing overhead rate* actual hours= 29.28*5800= $169,824

Finally, we can determine the under or over allocation:

Under/over allocation= real manufacturing overhead - allocated manufacturing overhead= 244400 - 169824= $74,576 underallocated

4 0

3 years ago

Allison's requires $180,000 to fund a new project next year. The firm expects to earn excess cash of $68,000 this year after all

liraira [26]

$0 is needed

<u>Explanation:</u>

As per pecking order theory the risks and consequently cost increases in the order of own cash reserves, debt and then fresh equity . Since own cash reserves and debt could take care of funding requirement, so according to the pecking order theory as studied, the fresh equity needed is $0, which means there is no requirement.

Therefore, there should be no equity capital that should be raised in order to fund the project.

The correct answer is $0 equity.

4 0

2 years ago

In 2008, the required reserve ratio for a bank's first $9.3 million in checking account deposits was zero. It was 3 percent o

Greeley [361]

Answer:

In most cases the deposits have a reserve ratio of 10% but in some cases the ratio is 0% and 3%, both these numbers are lower than 10. This means that in most cases the ratio is 10% and in some cases the ratio is less than 10 % so the real word deposit multiplier will be less than 10.

Explanation:

8 0

3 years ago