Answer:
To identify and correct errors
Explanation:
True because workplace etiquette is behaving with manners and kindness
Answer:
Debit Petty Cash $250; credit Cash $250
Explanation:
Based on the information given we were told that the Company establishes the amount of $250 as a petty cash fund on September 1 which means that The journal entry to record the establishment of the fund on September 1 is:
Debit Petty Cash $250
Credit Cash $250
Answer and Explanation:
The computation of the effective annual rate in each of the following cases are
1.
Effective annual rate = [(1+annual percentage rate ÷ period)^period]- 1
= (1 +0 .09 ÷ 4)^4 - 1
= 9.31%
2.
Effective annual rate = [(1+annual percentage rate ÷ period)^period]- 1
= (1 + 0.16 ÷ 12)^12-1
= 17.23%
3.
Effective annual rate = [(1+annual percentage rate ÷ period)^period]- 1
= (1 + 0.12 ÷ 365)^365-1
= 12.75%
4 .
Effective annual rate = [(e)^Annual percentage rate]-1
e=2.71828
So,
=[(2.71828)^0.11]-1
= 11.63%
Answer:
156.6%
Explanation:
Given:
Cosi Company's Incurred over head for the next period = $830,000
Expected labor hours = 53,000
Cost of labor = $10.00 per hour
Thus,
Total labor cost = 53,000 × $10.00 = $530,000
Now,
the Cosi Company's predetermined overhead rate will be calculated as:
Predetermined overhead rate = Incurred overhead / Total labor cost
on substituting the respective values, we get
Predetermined overhead rate = ( $830,000 / 530,000 ) = 1.566
or
Predetermined overhead rate = 1.566 × 100% = 156.6%
