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Bundle: Essentials of Business Communication, Loose-leaf Version, 11th + MindTap Business Communication, 1 term (6 months) Printed Access Card
11th Edition
ISBN: 9781337736350
Author: Mary Ellen Guffey, Dana Loewy
Publisher: Cengage Learning
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Chapter 1, Problem 1.15AAC
Summary Introduction
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How intercultural differences could affect the communication and how to overcome these differences and summarize different situation of a job interview.
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INVOLVE was incorporated as a not-for-profit organization on January 1, 2023. During the fiscal year ended December 31,
2023, the following transactions occurred.
1. A business donated rent-free office space to the organization that would normally rent for $35,600 a year.
2. A fund drive raised $188,000 in cash and $106,000 in pledges that will be paid next year. A state government grant of
$156,000 was received for program operating costs related to public health education.
3. Salaries and fringe benefits paid during the year amounted to $209,160. At year-end, an additional $16,600 of salaries
and fringe benefits were accrued.
4. A donor pledged $106,000 for construction of a new building, payable over five fiscal years, commencing in 2025. The
discounted value of the pledge is expected to be $94,860.
5. Office equipment was purchased for $12,600. The useful life of the equipment is estimated to be five years. Office
furniture with a fair value of $10,200 was donated by a local office…
Fairfield Company's payroll costs for the most recent month are summarized here:
Item
Hourly labor unges
Description
920 hours $27 per hour
190 hours for Job 101
340 hours for Job 102
Factory supervision
Production engineer
Factory Janitorial work
Selling, general, and
administrative salaries
Total payroll costs
Required:
390 hours for Job 103
Total Cost
$ 5,130
9,180
10,530
$ 24,840
4,350
7,100
1,200
8,800
$ 46,298
1. & 2. Prepare the journal entries for payroll and to apply manufacturing overhead to production. The company applies manufacturing
overhead to products at a predetermined rate of $54 per direct labor hour
Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.
View transaction list
Journal entry worksheet
A
B
Record Fairfield Company's payroll costs to be paid at a later date.
Note Enter debits before credits.
S.No Date
1
Account Title
Debit
Credit
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Information related to Monty Co. is presented below.
2.72/7 E :
On April 5, purchased merchandise on account from Larkspur Company for $30,000, terms 2/10, net/30, FOB shipping point.
On April 6, paid freight costs of $910 on merchandise purchased from Larkspur.
1.
2.
3.
On April 7, purchased equipment on account for $30,100.
4.
On April 8, returned $6,000 of merchandise to Larkspur Company.
5.
On April 15, paid the amount due to Larkspur Company in full.
(a)
W
Your answer is partially correct.
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- No AIarrow_forwardHshshsheheheharrow_forwardL.L. Bean operates two factories that produce its popular Bean boots (also known as "duck boots") in its home state of Maine. Since L.L. Bean prides itself on manufacturing its boots in Maine and not outsourcing, backorders for its boots can be high. In 2014, L.L. Bean sold about 450,000 pairs of the boots. At one point during 2014, it had a backorder level of about 100,000 pairs of boots. L.L. Bean can manufacture about 2,200 pairs of its duck boots each day with its factories running 24/7.In 2015, L.L. Bean expects to sell more than 500,000 pairs of its duck boots. As of late November 2015, the backorder quantity for Bean Boots was estimated to be about 50,000 pairs. Question: Assume that a pair of 8" Bean Boots are ordered on December 3, 2015. The order price is $109. The sales tax rate in the state in which the boots are order is 7%. L.L. Bean ships the boots on January 29, 2016. Assume same-day shipping for the sake of simplicity. On what day would L.L. Bean recognize the…arrow_forward
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