Coral Bay Spa Bay Spa records employee tips monthly. March shows: cash tips $2,340, credit card tips $3,860, gift card tips. $580. Present the total tips collected. [General Accounting 4 points]
Q: A reconciliation between the numbers disclosed in operating segments and consolidated numbers need…
A: In accounting, reconciliation is the process of ensuring that two sets of records (usually the…
Q: Provide answer the general accounting question
A: Step 1: Define Variable and Fixed CostsProduction in the short run involves both fixed costs and…
Q: Nittany Company uses a periodic inventory system. At the end of the annual accounting period,…
A: Final Table: FIFOLIFOAverage CostEnding Inventory$27,750$21,080$24,485Cost of Goods…
Q: I need answer correct
A: Explanation of Prepaid Insurance: Prepaid insurance is an asset account that represents insurance…
Q: Provide solution this accounting question
A: 1: Identify Key InformationSelling Price per Unit: $10Units Produced: 100,000Units Sold:…
Q: Bichom company manufactures two ....given answer Accounting
A: Step 1: Define Setup CostsSetup costs are the form of expenses that are incurred in relation to…
Q: Need answer the accounting question please answer do fast
A: Step 1: Define Organizational ExpendituresThe amount a new corporation can deduct for organizational…
Q: Early in its fiscal year ending December 31, 2024, San Antonio Outfitters finalized plans to expand…
A: In order to determine the initial value that should be capitalized for building, we have to compute…
Q: Please given answer Accounting
A: Step 1: Definition of Differential CostDifferential cost, also referred to as incremental cost,…
Q: Please solve this accounting question don't use ai
A: Initial Investment = $1,500Net Present Value (NPV) = $400Internal Rate of Return (IRR) = 9%Present…
Q: Economic profit = Operating profit - Capital charge Assume the following Information for a hotel…
A: Hope this helps
Q: Please give me answer financial accounting question
A: Step 1: Define Residual IncomeResidual income is the economic profit that continues to flow in even…
Q: Expert please help
A: Detailed explanation: Prudence Convention: • This accounting principle involves considerable care in…
Q: An investment has expected...accounting questions please give me answer
A:
Q: Please need help with this accounting question not use chatgpt
A: Step 1: Define Work in progressWork in process describes the value of labor, raw materials and other…
Q: ! Required information [The following information applies to the questions displayed below.] Sandy…
A: referencehttps://www.investopedia.com/salt-5180146
Q: Provide this question solution general accounting
A: Step 1: Determine the selling price and cost per unitStep 2: Calculate the markup amount per…
Q: ! Required information Problem 13-58 (LO 13-2) (Static) [The following information applies to the…
A: Scenario B (Annual Salary: $240,000)b-1. SV's Contribution to Matthew's Money Purchase Plan1.Find…
Q: Can you answer this general accounting question?
A: Step 1: Define Allocated Overhead CostsThe total costs incurred by a manufacturing firm can be…
Q: None
A: Here's how We would proceed with the tax preparation for Vicky's Schedule D based on the…
Q: Answer please
A: Step 1:Total Waste cost will be the sum of the defective bottle costs and damaged label costs. Step…
Q: Get correct answer accounting
A: Step 1: Define Days Sales OutstandingIn accounting, the days sales outstanding is a term that…
Q: What is the cost of equity on these financial accounting question?
A: Step 1: Define Declared DividendCompanies typically make dividend announcements in advance to their…
Q: Make a balance sheet with this.
A: AssetsAssets are the resources that the business owns and uses to operate. These include cash,…
Q: I need answer of this question solution general accounting
A: Step 1: Definition of Book Value in Asset AccountingBook value refers to the value of an asset as…
Q: Please provide this question solution accounting
A: Step 1: Definition of Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) represents the direct costs…
Q: Barreto Brewing Company and Blakey Brewing Company exchanged assests on November 1, 2024. This…
A: Step 1: Identify the Key Information Barreto's Asset Given Up:Cost: $10,000Accumulated Depreciation:…
Q: General Accounting Solve
A: Question 1: If total assets = $336,000 and total owners' equity = $115,500, what are total…
Q: Provide this question solution general accounting
A: Step 1: Analyze the ChangesInventory: Increased by $1,100 ($123,500 - $122,400). This means the…
Q: Listed here are three separate series of costs measured at various volume levels. Volume (Units)…
A: As hinted, let's graph the series:Series 1: Fixed costFixed costs are costs that are constant…
Q: Need answer the accounting question please answer do fast
A: Step 1: Definition of Overhead Rate AllocationOverhead rate allocation is the process of assigning…
Q: Crystal glassware company issues..accounting questions
A: Step 1: Determine the bond discount:The bonds are issued at 99, which means they are sold for 99% of…
Q: Please give me answer accounting questions
A: Step 1: Define Allocation Of OverheadsOverheads refers to the costs which are not directly related…
Q: Need both answer
A: Definitions Related to Question:Explanation of Matching Principle: The matching principle requires…
Q: Which option is accurate?
A: Explanation of Faithful Representation: Faithful representation is a fundamental accounting…
Q: As sales manager, Joe Batista was given the following static budget report for selling expenses in…
A: CalculationsFlexible BudgetSales in units9,800Variable expenses Sales commissions(2,352/7,840)…
Q: Hello tutor please give me answer this question general accounting
A: Step 1: Definition of Cash InflowCash inflow refers to the money that enters a business and can…
Q: Give answer this general accounting question
A: Step 1: Define Absorption CostingAbsorption costing is also known as full costing because it…
Q: Gladys Bank and Trust has $430 million in consumer loans with an average interest rate of 7.95…
A: Step 1: FormulaThe formula for interest revenue from each category of loans or securities is:Revenue…
Q: provide answer please this Accounting Metter
A: Step 1: Compute the standard pound of direct material required to produce 5,500 units by using the…
Q: __ is the inventory shortage?
A: Step 1: Ending inventory based on records Ending inventory based on records = $30,000 (Given) Step…
Q: Please given answer Accounting
A: Step 1: Define Net Fixed AssetsIt is the value of the physical assets employed in the business to…
Q: Provide this question solution general accounting
A: Step 1: Determine the months for the interest to grow for each cash flow Since, the cash flows…
Q: Accounting Question
A: Step-by-Step Process:Calculate Current Total Cost per Unit:Total Cost for 35,000 units = $16,635,000…
Q: Return to question If the parent uses the equity method, what consolidation entries would be used on…
A: Step 1: Step 2: Step 3: Step 4:
Q: Calculate the OPM
A: Explanation of Sales: Sales represent the total revenue a company generates from selling goods or…
Q: General accounting expert need help
A: Explanation of Deposit: A deposit is an upfront partial payment required to secure services or…
Q: Please Provide Answer of this Question With Method of General Accounting
A: Step 1: Define SalesSales are the amount generated by a business by selling its products or…
Q: Franchise company has the following....accounting question
A: Step 1: Define Work-In-Process InventoryThere are three type of inventory involved in a business,…
Q: Provide this question solution general accounting
A: Step 1: Define Degree of Operating LeverageDegree of operating leverage is a financial multiple that…
Step by step
Solved in 2 steps
- Golden Gate Fitness tracks monthly memberships. March report: new members 45 at $60 each, renewals 85 at $50 each. Present membership the total General Accounting Problem revenue.Help with T-accounts? Cascade Company has four employees. All are paid on a monthly basis. The fiscal year of the business is June 1 to May 31. The accounts kept by Cascade include the following: Account Number Title Balance on June 1 101 Cash $67,600 211 Employee Federal Income Tax Payable 3,560 212 Social Security Tax Payable 5,119 213 Medicare Tax Payable 1,195 218 Savings Bond Deductions Payable 1,275 221 FUTA Tax Payable 568 222 SUTA Tax Payable 3,834 511 Wages and Salaries Expense 0 530 Payroll Taxes Expense 0 The following transactions relating to payrolls and payroll taxes occurred during June and July: June 15 Paid $9,874 covering the following May taxes: Social Security tax $5,119 Medicare tax 1,195 Employee federal income tax withheld 3,560 Total $9,874 30 June payroll: Total wages and salaries expense $46,000 Less amounts withheld: Social Security tax $2,852…Catherines Cookies has a beginning balance in the Accounts Receivable control total account of $8,200. $15,700 was credited to Accounts Receivable during the month. In the sales journal, the Accounts Receivable debit column shows a total of $12,000. What is the ending balance of the Accounts Receivable account in the general ledger?
- Richard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per hour Kuhl Laborer 45 ₱50 Aileen Office Secretary 46 ₱45 Jose Laborer 50 ₱52 Jay Factory Supervisor 55 ₱48 Richmond Sales Agent 52 ₱60 Edward Laborer 48 ₱45 The following are to be deducted from the gross earnings of employees: Withholding Taxes - 5% Social Security System Contributions - 3% Philippine Health Insurance - 1% Home Development Mutual Fund - 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. Required: Compute the following: A. How much is the amount charged to the Work in Process account? B. How much is the amount charged to Manufacturing Overhead? C. What is the total amount charged to Selling and Administrative expenses?Kaseys Cake Shop made 20,000 in sales of wedding cakes in July. All of these sales were on bank credit cards. The credit card company charges a 3.5% collection fee. Prepare Kaseys journal entry to record the credit card sales.The Modica Spa pays its employees time and half for all hours in excess of 40 hours per week. Employees are paid every Friday. The following information is from the payroll register for December 4. All employees are single. Number the checks beginning with 213. Compute the Federal Income Tax withholding by using Figure 8-4a and Figure 8-4b. Name HoursWorked PayRate # ofAllowances HealthInsurance UnitedWay CumulativeEarnings J. Cali 41 $10.00 0 $25 $15,936 D. Allen 42 9.00 1 25 18,576 K. Marri 39 12.00 2 25 22,464 R. Matso 44 600/wk 2 25 $10 31,137 T. Willis 40 795/wk 3 25 15 87,300 The Social Security tax rate is 6.2% and the Medicare tax rate is 1.45%. 1. Complete the payroll register for this pay period. Round your answers to the nearest cent. (the image) 2. Journalize the entry for payroll for this pay period. If an amount box does not require an entry, leave it blank. Page: 3 DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 Dec. 4 1 2…
- The sales clerks of Teresa's Treasures are paid a salary of $225 per week plus a commission of 8% on all sales they make. Find the amount of commission and gross earnings for these employees. (Round your answers to 2 decimal places. Omit the "S" sign in your response.) Sales for the Week $ 2,392.50 $ 3,480.75 Name Commission Gross Earnings Tina Valendez Jan Yarrow %24 %24Ee 130.Nonnas Re-Appliance Store collects 55% of its accounts receivable in the month of sale and 40% in the month after the sale. Given the following sales, how much cash will be collected in February?
- Complete the following table. Note: Round your "gross pay" to the nearest cent. Employee Donna Swan Monday Tuesday Wednesday Thursday Friday 5 8 12 9 6 Hours Rate per hour $ 9.75 Gross payRichard Corp has the following data for the third week of December: Employee Name Classification Hours Worked Rate per Hour Kuhl Laborer 45 50 Aileen Office Secretary 46 45 Jose Laborer 50 52 Jay Factory Supervisor 55 48 Richmond Sales agent 52 60 Edward Laborer 48 45 The following are to be deducted from the gross earnings of employees: Withholding taxes - 5% Social Security System contributions - 3% Philippine Health Insurance - 1% Home Development Mutual Fund - 1% Richard Corp paid its employees one and half times the regular rate for hours worked in excess of 40 hours. a. How much is the gross payroll? b. How much is the amount charged to Work in Process? c. How much is the amount charged to manufacturing overhead? d. How much is the total amount charged to Selling and Administrative expenses?The following totals for the month of June were taken from the payroll register of Arcon Company: Account Debit Credit Salaries expense $13,980.00 Social security and Medicare taxes withheld 1,048.50 Income taxes withheld 333.00 Retirement savings 501.00 The entry to journalize the payment of net pay would include a a. debit to Salaries Payable for $13,980.00. b. credit to Salaries Payable for $12,097.50. c. debit to Salaries Payable for $12,097.50. d. credit to Salaries Expense for $12,097.50.