Answer:
The production departments in the first stage and the unit of product in the second stage.
Explanation:
Managerial accounting also known as cost accounting is an accounting technique focused on identification, measurement, analyzing, interpretation, and communication of financial information to managers for better decisions making and pursuit of the organization's goals.
This ultimately implies that, managerial accounting is specific to a particular business organization i.e the managerial accounting model used by a company would be different from the one used by another.
In Managerial accounting, the departmental overhead rate method is an accounting technique used for calculating the expense rate for each department in the manufacturing (production) process of a factory. Thus, it is solely based on breaking up overhead costs for each department rather than a factory-wide rate. The unit of activities in each segment of a business firm or factory determines the departmental overhead rate.
Generally, the cost object of the departmental overhead rate method is the production departments in the first stage and the unit of product in the second stage.
purchased a truck at a cost of $67,200. It has an estimated useful life of five years and estimated residual value of $6,200. At the beginning of year three, Ripple decided that the total useful life would be four years, rather than five years. There was no change in the estimated residual value. What is the amount of depreciation that Ripple should record for year 3 under the straight-line depreciation method
Answer:
Ripple Corporation
The amount of depreciation that Ripple should record for year 3 under the straight-line depreciation method is:
= $18,300.
Explanation:
a) Data and Calculations:
Cost of truck = $67,200
Estimated useful life = 5 years
Estimated residual value = $6,200
Depreciable amount = $61,000 ($67,200 - $6,700)
Annual depreciation expense = $12,200 ($61,000/5)
Accumulated depreciation after two years = $24,400
Net book value = $42,800 ($67,200 - $24,400)
Revised Estimates:
Re-estimated Useful life = 4 years
Remaining useful life = 2 years
Salvage value = unchanged
Depreciable amount = $36,600 ($42,800 - $6,700)
Annual depreciation expense = $18,300 ($36,600/2)
On January 2, 2020, Vaughn Manufacturing began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2021. Expenditures for the construction were as follows:
January 2, 2020 $613000
September 1, 2020 1802400
December 31, 2020 1802400
March 31, 2021 1802400
September 30, 2021 1203000
Indian River Groves borrowed $3,300,000 on a construction loan at 12% interest on January 2, 2017. This loan was outstanding during the construction period. The company also had $12,000,000 in 9% bonds outstanding in 2017 and 2018.
1. What were the weighted-average accumulated expenditures for 2017?
a. $1,600,000.
b. $1,500,000.
c. $1,200,000.
d. $3,000,000.
2. The interest capitalized for 2017 was:
a. $540,000.
b. $144,000
c. $456,000.
d. $180,000.
3. What were the weighted-average accumulated expenditures for 2018 by the end of the construction period?
a. $1,170,000.
b. $4,905,000.
c. $5,958,000.
d. $4,158,000.
4. The interest capitalized for 2018 was:
a. $374,220.
b. $354,915.
c. $ 77,220.
d. $297,000.
Answer:
Vaughn Manufacturing
1. The weighted-average accumulated expenditures for 2017 were:
c. $1,200,000.
2. The interest capitalized for 2017 was:
b. $144,000
3. The weighted-average accumulated expenditures for 2018 by the end of the construction period were:
= $2,546,000.
4. The interest capitalized for 2018 was:
= $267,000.
Explanation:
a) Data and Calculations:
Expenditures for the construction were as follows:
Date Amount of No. of months Weighted Average
expenditure Expenditure
2020:
January 2, 2020 $613,000 12/12 $613,000
September 1, 2020 1,802,400 4/12 600,800
December 31, 2020 1,802,400 0/12 0
Total weighted-average expenditure for 2020 = $1,213,800
Which is approximately = $1,200,000
Interest capitalized = $144,000 ($1,200,000 * 12%)
Capitalized expenditure by December 31, 2020 = $1,344,000 ($1,200,000 + $144,000)
Date Amount of No. of months Weighted Average
expenditure Expenditure
2021:
January 1, 2021 1,344,000 9/9 $1,344,000
March 31, 2021 1,802,400 6/9 1,201,600
September 30, 2021 1,203,000 0/9 0
Total weighted-average expenditure for 2020 = $2,545,600
Which is approximately $2,546,000
Interest capitalized for 2018 = $267,330 ($2,546,000 * 10.5%)
Approximately $267,000
Kauffman Market has a gross profit percentage of 40%. It is expecting an additional $3,000 in revenues over the upcoming 3-day holiday weekend. The manager would like 3 additional staff members assisting customers during this busy time. The additional staff members will each work one 6-hour shift per day and earn $12 per hour. Would it be profitable for Kauffman Market to add the extra staff members
Answer:
$552
Explanation:
The computation is shown below:
But before that following calculation need to be done
Additional profit is
= $3,000 × 40%
= $1,200
Additional labor cost is
= (3 days × 3 employees × 6 hours per day × 12 per hour )
= $648
As we can see that the company profit would be increase by
= $1,200 - $648
= $552
Bluefield Corp. has two product lines, A and B. Bluefield has identified the following information about its overhead and potential cost drivers: Total overhead$69,300 Cost drivers Number of labor hours1,900 Number of machine hours45,000 Required: 1. Suppose Bluefield Corp. uses a traditional costing system with number of labor hours as the cost driver. Determine the amount of overhead assigned to each product line if Product A requires 76 percent of the labor hours and Product B requires 24 percent. 2. Suppose Bluefield uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line if Product A consumes 17,700 machine hours and Product B consumes 27,300.
Answer:
Overhead assigned to product labour hours
Product A = $36.5 per hour × 76%× 1900= 52,706.0
Product B = $36.5 per hour × 24%× 1900= 16,644.0
Overhead assigned to product using machine hours
Product A = $1.54 × 17,700= $27,258
Product B = $1.54 × 27,300 =$42,042
Explanation:
Under the traditional absorption costing system, overhead is assigned to units produced using the direct labour hours or machine hours basis.
Overhead absorption rate = Budgeted overhead for the period/Budgeted labour hours
OAR = $69,300 /1,900 hours
= $36.5 per hour
Overhead assigned to product
Product A = $36.5 per hour × 76%× 1900= 52,706.0
Product B = $36.5 per hour × 24%× 1900= 16,644.0
Overhead absorption rate = Budgeted overhead for the period/Budgeted machine hours
OAR = $69,300 /45,000 hours= $1.54 per hour
Overhead assigned to product
Product A = $1.54 × 17,700= $27,258
Product B = $1.54 × 27,300 =$42,042
Better Health Inc. is evaluating two capital investments, each of which requires an up-front (Year 0) expenditure of $1.5 million. The projects are expected to produce the following net cash inflows: Year Project A Project B 1 $500,000 $2,000,000 2 $1,000,000 $1,000,000 3 $2,000,000 $600,000 The Discount Rate is 10% assuming a normal risk project. You may use Excel on your computer to answer this Question. Respondus has been removed from this Exam so you have access to Excel. Assume Project B is more 30% more risky than Project A and therefore would have a Discount Rate of 13% rather than 10%. What is the new NPV for Project B
Answer:
$1,468,888.29
Explanation:
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in year 0 = $-1.5 million
Cash flow in year 1 = $2,000,000
Cash flow in year 2 = $1,000,000
Cash flow in year 3 = $600,000
I = 13%
NPV = $1,468,888.29
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Wall Drugs offered an incentive stock option plan to its employees. On January 1, 2021, options were granted for 75,000 $1 par common shares. The exercise price equals the $6 market price of the common stock on the grant date. The options cannot be exercised before January 1, 2024, and expire December 31, 2025. Each option has a fair value of $1 based on an option pricing model. Which is the correct entry to record compensation expense for the year 2021
Answer:
Dr Compensation expense $12,500
Cr Paid-in capital - stock options $12,500
Explanation:
Preparation of the correct entry to record compensation expense for the year 2021
Based on the information given the correct journal entry to record compensation expense for the year 2021 is :
Dr Compensation expense $12,500
Cr Paid-in capital - stock options $12,500
[(75,000 x $1)/6]
(Being to record compensation expense for the year 2021)
As part of a valuation analysis, you have identified two comparables: KLA Tencor (KLA) and Lam Research (LAM). KLA has company value of $9,600, market value of equity of $8,000, and net income of $400. LAM has company value of $12,000, market value of equity of $6,000, and net income of $500. If KLA has NOPAT of 400 and LAM has NOPAT of 600, the P/E ratios for KLA and LAM should be, respectively: Group of answer choices 20 and 12 14 and 8 Not enough information 40 and 30 24 and 20
Answer:
The correct option is 20 and 12. That is, the P/E ratios for KLA and LAM should be, respectively: 20 and 12.
Explanation:
The price-earnings (P/E) ratio can be calculated using the following formula:
P/E ratio = Market value of equity / Net income ............... (1)
From the question. we hav:
KLA market value of equity = $8,000
KLA net income = $400
LAM market value of equity = $6,000
LAM net income = $500
Using equation (1) and the above information, we have:
P/E ratios for KLA = $8,000 / $400 = 20
P/E ratios for LAM = $6,000 / $500 = 12
Therefore, the correct option is 20 and 12. That is, the P/E ratios for KLA and LAM should be, respectively: 20 and 12.
Why do products have to be deleted from a product mix?
Answer:
Businesses must remove unnecessary goods in order to uphold high quality requirements for their product.
Explanation:
If a $5,000 coupon bond has a coupon rate of 13 percent, then the coupon payment every year is (a) $650. (b) $1,300.
Transformational leaders enhance performance of employees by ________. A. focusing on short-term goals for employees B. restricting creativity among employees C. establishing goals, roles, and requirements D. instilling pride in employees E. abdicating all responsibility to employees
Answer:
D. instilling pride in employees
Explanation:
Transformational leadership is a leadership style where there is a leader capable of motivating and encouraging each employee to develop their skills and thus become more productive and confident in their work. The transformational leader is the one who inspires through his personal example, he is the one who is always willing to help and collaborate with the success of each individual in a team.
Therefore, this is a very positive leadership style for organizations, as the leader is the maximum figure capable of inspiring, motivating and contributing to the creation of an organizational culture focused on creativity, collaboration, valuing work and productivity.
Landing Service is a lawn furniture company that has been around for many years. It is known for its ability to produce furniture more efficiently than any other company in the nation. In truth, no other companies in any other nation come close. Landing Service has shipped many of its products internationally. In fact, 80 percent of its profits come from international sales. However, the Italian government has imposed a tax on imported furniture items to protect local companies. The Brazilian government, on the other hand, has imposed taxes on Landing Service products due to the government wanting a piece of the pie.
Landing Service initially thought that these taxes were unfair because it was being singled out. However, after Landing Service contacted the organization that had the power to mediate this situation, the furniture company realized that the taxation it was subjected to was legal and that there was nothing it could do about it.
Refer to Landing Service. Because the company is known for its ability to produce lawn furniture more efficiently than any other company in the world, the company must have a(n) ____ advantage.
a. total
b. relative
c. comparative
d. proportional
e. absolute
Refer to Landing Service. What type of tax has the Brazilian government imposed on the company?
a. Import duty
b. Embargo
c. Revenue tariff
d. Protective tariff
e. Nontariff barrier
Answer:
Landing Service
1. Refer to Landing Service. Because the company is known for its ability to produce lawn furniture more efficiently than any other company in the world, the company must have a(n) ____ advantage.
e. absolute
2. Refer to Landing Service. What type of tax has the Brazilian government imposed on the company?
a. Import duty
Explanation:
Landing Service enjoys absolute advantage with its ability to produce furniture more efficiently than any other company in the world. It implies that Landing Service can produce furniture with lesser input resources than other furniture companies in the world.
Import duty, in this scenario, refers to the tax imposed by the Brazilian government on Landing Service's furniture. This tax increases the price of the furniture for the Brazilian importers and consumers.
Twins graduate from college together and start their careers. Twin 1 invests $1500 at the end of each year for 10 years only (until age 33) in an account that earns 7%, compounded annually. Suppose that twin 2 waits until turning 40 to begin investing. How much must twin 2 put aside at the end of each year for the next 25 years in an account that earns 7% compounded annually in order to have the same amount as twin 1 at the end of these 25 years (when they turn 65)
Answer:
Annual investment= $2,855.71
Explanation:
First, we will determine the future value of the investment of Twin 1 at the end of the firsts 10 years.
Twin 1:
Annual investment= $1,500
Number of periods= 10 years
Interest rate= 7%
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {1,500*[(1.07^10) - 1]} / 0.07
FV= $20,724.67
Now, the value of the account of Twin 1 after 32 years (65 - 33), if he leaves the money to gain interest:
FV= PV*(1+i)^n
FV= 20,724.67*(1.07^32)
FV= $180,621.11
Finally, the annual deposit that Twin 2 must make to equal the amount earned by Twin 1:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (180,621.11*0.07) / [(1.07^25) - 1]
A= $2,855.71
Twin 2 must make an annual deposit of $2,855.71 to match the amount earned by Twin 1, which is the annual investment.
How do you calculate the Annual investment of Twin 2?First, we'll calculate the future value of Twin 1's investment at the conclusion of the first ten years.
[tex]\text{Twin 1}:\\\text{Annual investment}= $1,500\\\text{Number of periods= 10 years}\\\text{Interest rate= 7} \text{percent}\\FV= {A\text{x}[(1+i)^n-1]}/i\\\text{A= annual deposit}FV= {1,500 \text{x} [(1.07^{10} ) - 1]} / 0.07FV= $20,724.67[/tex]
The following is the worth of Twin 1's account after 32 years (65 - 33), assuming he leaves the money to earn interest:
[tex]\text{FV= PV} \text{x}(1+i)^n\\FV= 20,724.67\text { x }(1.07^{32})\\FV= 180,621.11[/tex]
Finally, Twin 2 must make an annual deposit equivalent to the amount generated by Twin 1:
[tex]\text{FV}= {\text{A} \text{x}{[(1+i)^n-1]}/\text{i}\\\text{A= annual deposit}[/tex]
[tex]\text{Isolating A}:\\A= (FV \text{x} i)/{[(1+i)^n]-1}\\A= (180,621.11 \text{x} 0.07) / [(1.07^{25} ) - 1]\\A= 2,855.71[/tex]
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g Assume that the reserve requirement is 11.69 percent. Banks do not hold excess reserves and there is no cash held by the public. The Federal Reserve decides that it wants to expand the money supply by $59 million using open-market operations. The Federal Reserve needs to buy $______ million worth of bonds. Round to two decimal places.
Answer:
$6.90 million
Explanation:
The computation is shown below:
Given that
The Reserve requirement is 11.69%
And, the money supply is $59 million
Based on the above information
First the money multiplier should be find out i.e.
= 1 ÷ 0.1169
= 8.55
Now the amount that need to buy is
= $59 ÷ 8.55
= $6.90 million
Hence, the federal reserve required to purchase $6.90 million worth of bonds
Splish Company began operations on January 2, 2019. It employs 12 individuals who work 8-hour days and are paid hourly. Each employee earns 10 paid vacation days and 6 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows.
Actual Hourly Wage Rate Vacation Days Used by Each Employee Sick Days Used by Each Employee 2019 2020 2019 2020 2019 2020 $6 $7 0 9 4 5
Splish Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned.
Prepare journal entries to record transactions related to compensated absences during 2019 and 2020.
vacation Days Used by Each Employc 2019 Actual Hourly Sick Days Used by Each Employcoc 017 Wagc Ratc 2019 2020. 01 7 2019 57 58
Answer: what is the question being asked?
why does the government spend less on defense and not more?write two reasons
Answer:When the federal government spends more money than it receives in taxes in a ... spending over time in nominal dollars is misleading because it does not take ... defense spending as a share of GDP has generally declined since the 1960s, ... Healthcare expenditures include both payments for senior citizens (Medicare), ...
Explanation:
Western Company is preparing a cash budget for June. The company has $11,800 cash at the beginning of June and anticipates $30,200 in cash receipts and $34,900 in cash disbursements during June. Western Company has an agreement with its bank to maintain a minimum cash balance of $10,000. As of May 31, the company owes $15,000 to the bank. To maintain the $10,000 required balance, during June the company must:
Answer:
See below
Explanation:
With regards to the above, we need to compute first the preliminary balance
Preliminary balance = $11,800 + $30,200 - $34,900 = $7,100
Then compute the amount to borrow
Amount to borrow = Minimum cash balance - Preliminary balance
= $10,000 - $7,100
= $2,900
Therefore, to maintain the $10,000 required balance, the company must borrow $2,900 during June.
Banking requirements
Use the information presented in Midwestern Mutual Bank's balance sheet:
Bank's Balance Sheet
Assets Liabilities and Owners' Equity
Reserves $200 Deposits $675
Loans $800 Debt $250
Securities $1,000 Capital (owners' equity) $1,075
Suppose a new customer adds $100 to his account at Midwestern Mutual Bank, which the owners of the bank then use to make $100 worth of new loans. This would increase the loans account and___the___account. This would also bring the leverage ratio from its initial value of___to a new value of__. Which of the following do bankers take into account when determining how to allocate their assets?
A. The total value of liabilities.
B. The size of the monetary base.
C. The return on each asset.
Answer and Explanation:
In the case when the new customer added $100 to his account so this would rise the loan amount also at the same time it increased the reserve and debt account
The leverage ratio is
= Total asset ÷ equity
= $2,000 ÷ $1,075
= 1.8604
Now the new leverage ratio is
= $2,000 + $100 ÷ $1,075
= 1.9534
So the initial leverage ratio is 1.86 to the new value of 1.95
The bankers should taken into account for distributing the asset is return on each asset
Pearson Motors has a target capital structure of 45% debt and 55% common equity, with no preferred stock. The yield to maturity on the company's outstanding bonds is 8%, and its tax rate is 25%. Pearson's CFO estimates that the company's WACC is 12.50%. What is Pearson's cost of common equity
Answer:
the cost of equity is 17.82%
Explanation:
The computation of the cost of equity is shown below:
As we know that
WACC = weight of debt × cost of debt × (1 - tax rate) + weight of equity × cost of equity
12.50% = 0.45 × 8% × (1 - 0.25) + 0.55 × cost of equity
12.50% = 2.7% + 0.55 × cost of equity
9.8% = 0.55 × cost of equity
So, the cost of equity is 17.82%
On January 1, 20X7, Yarrow Corporation had 1,000,000 shares of common stock outstanding. On March 1, the corporation issued 150,000 new shares to raise additional capital. On July 1, the corporation declared and issued a 2-for-1 stock split. On October 1, the corporation purchased on the market 600,000 of its own outstanding shares and retired them.
Compute the weighted average number of shares to be used in computing earnings per share for 2021.
Increase Months
(Decrease) Outstanding Outstanding Share Months
Answer:
Yarrow Corporation
The weighted average number of shares to be used in computing earnings per share for 2021 is:
= 2,125,000 shares.
Explanation:
a) Data and Calculations:
Weighted-Average Number of Shares
Date Outstanding Shares Weight Weighted Average
January 1, 1,000,000 12/12 1,000,000
March 1 Issue 150,000 10/12 125,000
July 1 2-for-1 2,300,000 6/12 1,150,000
October 1 Treasury (600,000) 3/12 (150,000)
Total number 2,850,000 2,125,000
the meaning of socio economic issues
Answer:
Socio-economic issues are factors that have negative influence on an individuals' economic activity including: lack of education, cultural and religious discrimination, overpopulation, unemployment and corruption.
Kidder Company began its operations on March 31 of the current year. Projected manufacturing costs for the first three months of business are $156,800, $195,200, and $217,600, respectively, for April, May, and June. Depreciation, insurance, and property taxes represent $28,800 of the estimated monthly manufacturing costs. Insurance was paid on March 31, and property taxes will be paid in November. Three-fourths of the remainder of the manufacturing costs are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. The cash payments for manufacturing in the month of June are:___.
a. $294,000.
b. $235,200.
c. $183,200.
d. $381,500.
Answer:
Total cash disbursement June= $183,200
Explanation:
Giving the following formula:
Manufacturing costs:
May= $195,200
June= $217,600
We need to deduct the costs of depreciation, insurance, and property taxes. The first one is not a cash disbursement cost. The second and third are already paid.
Cash disbursement June:
Manufacturing costs June= (217,600 - 28,800)*0.75= 141,600
Manufacturing costs May= (195,200 - 28,800)*0.25= 41,600
Total cash disbursement June= $183,200
The way the staff looks tells the customer a great deal about the way the organization is managed.
True
False
Hilton Company manufactures two products: Product A100 and Product X500. The company currently uses a plantwide overhead rate based on direct labor-hours. The Hilton Company is considering implementing an activity-based costing (ABC) system that allocates its manufacturing overhead to four cost pools. The following additional information is available for Hilton Company as a whole and for Products A100 and X500.
Activity Cost Pool Activity Measure Estimated Overhead Cost Expected Activity
Machining Machine-hours $231,000 11,000 MHs
Machine setups Number of setups $180,000 300 setups
Production design Number of products $94,000 2 products
General factory Direct labor-hours $260,000 13,200 DLHs
Activity Measure Product Y Product Z
Machine-hours 8,000 3,000
Number of setups 60 240
Number of products 1 1
Direct labor-hours 7,000 6,200
Required:
a. What is the company’s plantwide overhead rate?
b. Using the plantwide overhead rate, how much manufacturing overhead cost is allocated to Product Y and Product Z?
c. What is the activity rate for the Machining activity cost pool?
d. What is the activity rate for the Machine Setups activity cost pool?
e. What is the activity rate for the Product Design activity cost pool?
Answer:
Results are below.
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 765,000 / (7,000 + 6,200)
Predetermined manufacturing overhead rate= $57.95 per direct labor hour
Now, we can allocate overhead to each product:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Product Y:
Allocated MOH= 57.95*7,000= $405,650
Product Z:
Allocated MOH= 57.95*6,200= $359,390
Finally, the allocation rates based on ABC:
Machining= 231,000 /11,000= $21 per machine hour
Machine setups= 180,000/300= $600 per setup
Production design= 94,000 / 2= $47,000 per product
Families of goods or services having similar characteristics or methods of creation are called__________.
Answer:
Strategic business units
Explanation:
Answer:
Families of goods or services having similar characteristics or methods of creation are called__________ strategic business units.
Suppose today is May 1, 2016, and your firm produces breakfast cereal and needs 200,000 bushels of corn in July 2016 for an upcoming promotion. You would like to lock in your costs today because you are concerned that corn prices might rise between now and July. Each contract is for 5,000 bushels; the settle price for July 2016 is $5.18 per bushel. Suppose corn prices are $5.14 per bushel in July. What will your cumulative mark to market be
Answer: -$8000
Explanation:
Based on the information given in the question, the cumulative mark to market will be calculate as:
= (5.14 - 5.18) ×
= 0.04 × 200,000
= 8000
The cumulative mark to market is gotten as - $8000 and since it's negative, it implies that a loss was incur by the investor in the future contracts.
Which do you feel is the best organization form for a political speech and why?
Answer:
is there any options
Explanation:
Top Sound International designs and sells high-end stereo equipment for auto and home use. Engineers notified management in December 2018 of a circuit flaw in an amplifier that poses a potential fire hazard. Further investigation indicates that a product recall is probable, estimated to cost the company $2.8 million. The fiscal year ends on December 31. Should this contingent liability be reported, disclosed in a note only, or neither?
Answer:
Yes
Explanation:
Since in the question it is mentioned that the product recall is probable and predicted that the cost to the company is $2.8 million so this represent the contingent liability as it is probable & estimated
So the same should be disclosed and reported
Hence, the answer should be yes
The same is to considered relevant
what is the yearly salary or hourly wage of a librarian?
Answer:
$61,920, or $29.77
Explanation:
Answer:
The average hourly rate for Librarian ranges from $27 to $38 with the average hourly pay of $32.
Explanation:
The average salary for a Librarian is $58515 per year in United States.
Salaries start from $34630 and go up to $93050.
On March 1, LGE asks to extend its past-due $6,000 account payable to Tyson. Tyson agrees to accept $1,400 cash and a 180-day, 8%, $4,600 note payable to replace the account payable. (Use 360 days a year.)(1) Prepare the March 1 entry for LGE.(2) Prepare the September 27 entry for LGE when it pays the note and interest to Tyson.
Answer: See explanation
Explanation:
1. Prepare the March 1 entry for LGE.
Debit: Account payable - Tyson = $6000
Credit: Cash = $1400
Credit: Note payable = $4600
.(2) Prepare the September 27 entry for LGE when it pays the note and interest to Tyson.
Debit: Notes Payable = $4600
Debit: Interest expense = ($4600 × 8/100 × 180/360) = $184
Credit: Cash = $4784
what is the yearly salary and hourly wage for a novel author? it's for a project.
