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3 years ago

If an employer chooses a per diem method of substantiation for travel expenses,

1 answer:

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If an employer chooses a per diem method of substantiation for travel expenses, the meals and incidental expenses method requires actual cost records to substantiate lodging expenses.

Option E

Explanation:

The price of the meal and the additional expenses while travelling away from home for work purposes is deducted from an employee or self-employed person. The expense deduction generally requires the costs to be substantiated.

There has been, however, an optional form that prohibits receipts for these taxpayers.

The IRS releases Diem levels for different parts of the United States (see Notification 2015-63 on the subject of irs.gov). For just the intent of measuring a meal and an accessory deduction, taxpayers may use such per diem rates and will be required to prove it.

If an employer wants a method of proof of travel expenses by Diem, the meal and by-product procedure requires real cost records in order to prove accommodation expenses.

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Beachside Coffee Shop, in an effort to streamline its accounting system, has decided to utilize a cash receipts journal in its o

Kisachek [45]

Answer:

the available options for the question are,

A. Cash Cr. $18, Food Revenue Dr. $18,

B. Cash Dr. $18, Food Revenue Dr. $18

C.Cash Dr. $18, Food Revenue Cr. $18

D. Cash Cr. $18, Food Revenue Cr. $18

and the correct answer is C.Cash Dr. $18, Food Revenue Cr. $18

Explanation:

the answer is simple. once they implement the accounting system, all the transaction will have at least a double entry.

when a cash sale is made for $18, this is a revenue stream for the business, while the cash balance of the business increases as well. Revenue account is an income and an increase in income is treated as increase in credit while the cash balance is an asset, and the increase of the asset is treated as a debit.

if you look at options A, B and D, all of these transactions are either mixed up or have both credits or debits which is wrong, because of this, only the answer C is correct.

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3 years ago

ReNaPro Inc., a multinational marketing agency, offers a curriculum in health education for its employees. It provides health pr

Dimas [21]

Answer:

engaged in health promotion at the highest level of organizational commitment

Explanation:

As it is mentioned in the question that ReNaPro Inc i.e is a multinational marketing agency that provided its employees a health educational program. In addition, it also regularly offers health promotions and offered incentives.

So here ReNaPro engaged in the promotion of health for the highest level of organisational commitment

6 0

2 years ago

Smith Machining makes three products. The company’s annual budget includes $1,048,000 of overhead. In the past, the company allo

Flauer [41]

Answer:

The computation is shown below:

Explanation:

a. The company overhead rate based on direct labor is

= Total Overheads ÷ Direct Labor Hours

= $1,048,000 ÷ 40,000

= $26.2 per hour

b) Overheads Rate using Activity Based Costing is

= Cost ÷ Activity level

For Order Processing, it is

= $226,800 ÷ 14,000 orders

= $16.2 per order

For setups, it is

= $157850 ÷ 4,100 setup

= $38.5 per setup

For Milling, it is

= $395,850 ÷ 20,300 machine hours

= $19.5 per machine hour

For Shipping

= $267,500 ÷ 25,000

= $10.7 per shipment

We simply applied the above formula so that the per unit could come

6 0

3 years ago

Mesia has come to you for help. For the third time this month, she has recorded a cash receipt twice. She wants you to record a

gayaneshka [121]

Answer:

Any adjustment section in the Accounts ought to be assessed and ought to be endorsed by the controller before posting it. The supporting clear archive to be delivered and held with the voucher for review reason.

Here, the case is money receipt is recorded twice, and requirements to book revising passage. Necessities to examine about the section, and need to cross check with money equalization and deals balance, Cash receipt number etc.to ensure this is a real case and ensure no fraud is occurring.

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3 years ago

What does the price of diesel fuel in russell ks have to do with the price of bread in boulder co?

Scilla [17]

The equipment to plant, harvest, and transport grain used by the farmers in KS is powered by diesel fuel. Therefore, an increase in the price of the fuel will also increase the price of the bread. The main ingredients of the bread are coming from the farmers' harvest of grain. When the price of the fuel would increase, the farmers would be selling their grains at a higher price which would yield to a higher price of the bread.

5 0

3 years ago