Kareem is writing and printing a check with QuickBooks for the first time. The check is for a subcontractor who did plumbing work for a contractor. What will he categorize as an indirect expense? Select an answer: the plumber's contract labor the administrative expenses involved the contractor's hourly rate

Kareem is writing and printing a check with QuickBooks for the first time. The check is for a subcontractor who did plumbing work for a contractor. What will he categorize as an indirect expense? Select an answer: the plumber's contract labor the administrative expenses involved the contractor's hourly rate

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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during my practicum internship i was given the task to do Preparation of payroll . what will be my duties and responsibility? with in text citation and references
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An error was discovered in computing and paying the wages of an employee of World Appliance Repair. world received cash from the employee for the amount of the overpayment. Which of the following entries for world records this transaction? Question 10 options: Wages Payable, debit; Wages Expense, credit Wages Expense, debit; Wages Payable, credit Wages Expense, debit; Cash, credit Cash, debit; Wages Expense, credit
Kwame's company creates estimates for customers interested in home repair work. When the company is hired and performs work for a customer, how does Kwame generate invoices in QuickBooks? Select an answer: Change the type of information from Estimate to Invoice on the Estimate screen. Enter the job type in Product/Service and then select Create Invoice on the Estimate screen. Select Create Invoice on the Estimate screen.
Mia works in both the jewelry department and the cosmetics department of a retail store. She assists customers in both departments and organizes merchandise in both departments. The store allocates her wages between the two departments based on the time worked in the two departments in each two-week pay period. Mia reports the following hours and activities spent in the two departments in the most recent two weeks. Allocate Mia's $2,400 of wages for two weeks to the two departments. Activities Selling in jewelry department Organizing in Jewelry department Selling in cosmetics department Organizing in Cosmetics department Total Department Hours worked Jewelry Cosmetics Totals Hours 39 18 14 5 76 Percent of Hours worked Numerator Denominator Percent of hours Wages Cost Allocated
The following events occurred over the course of a year at Coronado Corp., which uses a job order costing system: 1. Direct materials purchases totaled $586,000. Coronado Corp tracks its direct materials separately from its indirect materials. Purchases were made on account. 2. $133,000 of indirect materials were used in production. Coronado uses a separate Supplies Inventory account for indirect materials. 3. $556,000 of direct materials were used in production. 4. The direct labor payroll was $791,000 (credit Wages Payable). 5. Other manufacturing overhead costs incurred during the year totaled $684,000. 6. Coronado applies overhead based on a predetermined overhead rate of $24 per machine hour. The company used 48,000 machine hours during the year. 7. During the year, Coronado transferred goods costing $2,430,000 into the Finished Goods Inventory account. 8. Coronado sold products with a manufacturing cost of $2,398,000 to customers during the year.
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Pick one answer: Due to increased work volume at McMahon's Robotics Emporium, the owner has decided that she needs to add another payroll clerk. What type of expense is the new payroll clerk's salary? Direct expense Indirect expense Variable expense Overhead expense
Can an accountant's job be delivered from home or onsite at the office? Why?
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