Answer: a). Debit Factory Payroll Payable $160,000; credit Cash $160,000.
Explanation: Direct labor refers to the manpower used in production. They are the factory workers involved in using the raw materials to produce finished goods.
Expense on direct labor is provided for during the production by a debit to factory payroll expense and a credit to factory payroll payable.
As such, the journal entry will be a debit to factory payroll payable $160,000 and a credit to cash $160,000. This means cash will reduce by $160,000 as the factory workers are paid while payables which is a provision account will reduce as well on the cash book by the same amount.
Answer:
FV= $198,456.07
Explanation:
Giving the following information:
Annual deposit= $20,000
Interest rate= 8%
Number of periods= 8 years
<u>To calculate the future value after the last deposit, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {20,000*[(1.08^7) - 1]} / 0.08 + 20,000
FV= 178,456.07 + 20,000
FV= $198,456.07
Accounting software?????????????????
Answer:
$100,000
Explanation:
Data provided in the question:
General aggregate limit of CGL policy = $300,000
Per-occurrence limit = $100,000
Now,
For the first claim for a $200,000 loss the maximum amount paid will be the Per-occurrence limit i.e $100,000
Subsequently for a second claim for a $100,000 loss the amount paid will be minimum of the Per-occurrence limit or the loss amount claimed i.e $100,000
Therefore,
Total amount of claim provided by the insurer till second claim
= $100,000 + $100,000
= $200,000
Thus,
Amount remaining
= General aggregate limit of CGL policy - Total amount of claim provided by the insurer till second claim
= $300,000 - $200,000
= $100,000
Answer:
there are five popular negotiating tactics, all of which can be challenged on ethical grounds.
Explanation:
Principle 1. Reciprocity:
Would I want others to treat me or someone close to me this way?
Principle 2. Publicity:
Would I be comfortable if my actions were fully and fairly described in the newspaper?
Principle 3. Trusted friend:
Would I be comfortable telling my best friend, spouse, or children what I am doing?
Principle 4. Universality:
Would I advise anyone else in my situation to act this way?
Principle 5. Legacy:
Does this action reflect how I want to be known and remembered?
Doing the right thing sometimes means that we must accept a known cost. But in the long run, doing the wrong thing may be even more costly.
