Sheila Williams, a medical secretary, earns $2,617 monthly for a 34-hour week. For overtime work, she receives extra pay at t regular hourly rate up to 40 hours and time and one-half beyond 40 hours in any week. During one semimonthly pay period, w worked 10 hours overtime. Only 2 hours of this overtime were beyond 40 hours in any one week. Compute the following amour Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your f answers to the nearest cent. a. The regular semimonthly earnings b. The overtime earnings c. The total earnings 1,308.50 ✔ 174.05 X Incorrect
Q: 1. SAN JUAN becomes subject to VAT for the first time. The following data are available for SAN JUAN…
A: ANSWER:- VAT payable (excess VAT input) =P 10,576 EXPLANATION:- To calculate the VAT payable, we…
Q: King Ltd. provides the following information about its contributed capitals from its balance sheet…
A: Answer:- Earnings available for the common shareholders:- The earnings that are accessible to…
Q: Express Delivery Company (EDC) is considering outsourcing Its Payroll Department to a payroll…
A: Payroll: - Payroll is the term commonly used to refer to the total amount of money a company pays to…
Q: Assets Liabilities Stock Year One $50,000 $25,000 $10,000 $15,000 Retained Earnings Suppose in year…
A: The accounting equation states that assets equals to sum of liabilities and shareholders equity. The…
Q: would you say that material mistakes found in a financial statement could lead to the auditors being…
A: A material mistake refers to that mistake in a financial statement of a company that may affect the…
Q: Dinnell Company, with a June 30 year-end, owns the following assets: A с 2017" 2019 $20,000 $100,000…
A: Depreciation is considered an expense charge on the value of the Asset. It can be calculated by…
Q: Sant Summa is a retailer that purchases merchandise inventory from Lee Co. Sant Summa record…
A: The sale and purchase of inventory is recorded in the books either using the gross method or net…
Q: Sunland Corporation has outstanding 200,000 common shares that were issued at $11 per share. The…
A: Stockholders' equity is one section of the statement of financial position which displays the…
Q: Tsuna wants to buy a luxurious ring worth P270,000. He can pay 30% of the price as down payment and…
A: Lets understand the basics. For answering this question, we are required to calculate equated…
Q: Equivalent Units of Production The following information concerns production in the Baking…
A: The equivalent units are calculated on the basis of percentage of the work completed during the…
Q: Stevie's Scooters plans to sell a standard scooter for $160 and a chrome scooter for $200. Stevie's…
A: BREAKEVEN POINT Break Even means the volume of production or sales where there is no profit or…
Q: P1-1C. The following are incomplete financial statements for Good Home Hardware. Calculate the…
A: Accounting statements The year-end records that are maintained by a company are classified as…
Q: On March 1, 2021, Gold Examiner receives $164,000 from a local bank and promises to deliver 100…
A: A journal entry records a business transaction in the accounting system of an organisation. Journal…
Q: hy would a company use multiple overhead ersus a single plantwide rate? Check all that apply) It…
A: The different ways of allocation of overhead to the production are single overhead rate and multiple…
Q: The following are brief descriptions of two companies in different lines of business. 1. Company A…
A: Revenue should be recognise as and when performace obligations satisfies not when cash received.…
Q: Baskin purchased 24,000 common shares (15%) of Robbin on January 1, Year 5, for $293,000 and…
A: INTRODUCTION: A journal is a book where all of a business's transactions are initially documented.…
Q: Blanton Plastics, a household plastic product manufacturer, borrowed $22 million cash on October 1,…
A: Working : Calculation of interest on December 31, 2024 Interest expense = $22,000,000 x 12% x 3/12 =…
Q: Click here to view factor tables (a) On January 1, 2020, Stellar Inc. purchased land that had an…
A: Answer: Please fallow the answer below: a) Determination of Land Amount recorded at January 1, 2020…
Q: Sheffield Shop had a balance in the Accounts Receivable account of $751000 at the beginning of the…
A: The average collection period measures how long it typically takes a company to collect and turn its…
Q: aying of its own common stock with a fair value of $40 per share. Parent paid legal and accounting…
A: Solution: 1. Land = $767,500 + $114,700 = $ 882,200 2. Building and equipment = $780,000 +…
Q: 1. Cute Camel is able to achieve this level of increased sales, but its interest costs increase from…
A: An income statement displays the revenues, costs, and profitability of a business over time. It is…
Q: (QuickBooks Online) A client messaged you saying that there might be something wrong with the bank…
A: Incorrect options:- Option B: This is an incorrect option as this button is used to resolve issues…
Q: Required information [The following information applies to the questions displayed below.] The…
A: The journal entries are prepared to keep the record of day to day transactions of the business on…
Q: Benson Company manufactures a personal computer designed for use in schools and markets it under its…
A: The fixed costs are not incurred for the special order. The variable costs are to be incurred for…
Q: Stock acquisition (fair value is different from book value) The following financial statement…
A: The company can invest in another company. The company that invests in another company is referred…
Q: Thad, a single taxpayer, has taxable income before the QBI deduction of $191,000. Thad, a CPA,…
A: Many owners of partnerships, S companies, sole proprietorships, and some trusts and estates may be…
Q: Jeremy (unmarried) earned $100,300 in salary and $6,300 in interest income during the year. Jeremy's…
A: A tax refund is a reimbursement to taxpayers who have overpaid their taxes, often due to having…
Q: Question V. The Belstock Company manufactures one product. On December 31, 2009, Belstock adopted…
A: Inventory valuation refers to the methods used by the company to determine the value of its…
Q: Following is a bank reconciliation for Zocar Enterprises for June 30, Year 2: Cash Account…
A: "Not sufficient funds" is referred to as NSF. An NSF check is one that the bank of the entity…
Q: Mulberry Street Sportswear as they appear on the adjusted trial balance as of December 31.…
A: The Multistep income statement categories the different expenses uder different heads. The gross…
Q: Sam Inc. issues 1,000 shares of $5 par value common stock when 500 shares of $30 par value preferred…
A: JOURNAL ENTRIES Journal Entry is the First stage of Accounting Process. Journal Entry is the Process…
Q: . University Catering sells 50 pound bags of popcorn in the university dormitories for P10 a bag.…
A: Lets understand the basics. Break even point is a point at which no profit no loss condition arise.…
Q: 1. Calculate the break even number of units if the fixed expenses are $7,000 and the contribution…
A: The concepts of cost volume profit analysis will be used here. Break-even point is the point at…
Q: From the following, please identify the 2 statements that are true as well as the 2 statements that…
A: 1.True. Convergence of accounting standards refers to creating a single set of rules or…
Q: Shown here are annual financial data for a merchandising company and a manufacturing company. Music…
A: Goods available for sale = Cost of purchases + Beginning inventory
Q: On Jan. 1, 2023 Apex Company purchases 30,000 shares of the common stock of Cary Industries for…
A: Under equity method of investment, investor company records investment at cost and then the…
Q: following information applies to the questions displayed below.] The following information…
A: There are three types.of valuation of inventory that are First in first out my method Last in…
Q: Which of the following statement is wrong with respect to deductible expenses incurred by an…
A: The fourth statement is incorrect because mixed income earners can claim more than just the 40%…
Q: Which of the following is an appropriate responsibility of the board?
A: The board is responsible for overseeing the internal audit function and ensuring that it is…
Q: A price company from time to time embarks on a research program when a special project seems to…
A: The accounting rules concerning fixed assets can be found in the accounting standards codification…
Q: The following are business transactions for the last month of operations. a) $190,000 of materials…
A: A journal entry is a form of accounting entry that is used to report a business transaction in a…
Q: Lawmakers should demand reform of government accounting standards?
A: Yes, lawmakers should demand reform of government accounting standards. Government accounting…
Q: Faye Faye Corporation's statement of financial performance for the year ended December 31, 20X2,…
A: Tax expense is the combination of current tax and deferred tax. Current tax is the taxes computed…
Q: a. Prepaid insurance of $400 has expired this month. b. At the end of the month, $1,525 of office…
A: Closing Entries - Closing entries are required to close the temporary accounts after making…
Q: Iowa Corporation Issued $4,000,000 par value, 5% convertible bonds, at 101 for cash. If the bonds…
A: Journal Entry :- The act of logging any transaction, whether or not it is an economic one, is known…
Q: If a merchandising company has a beginning inventory of $382,000 and an ending inventory of…
A: Cost of goods sold = Opening inventory + Purchased during the period - Closing inventory
Q: It has been suggested that published accounting statements should attempt to be relevant,…
A: Relevance: Accounting statements should provide information that is useful in making decisions. This…
Q: When adjusting for depreciation on a building, which of the following is one effect of the…
A: The accounting method of depreciation can be used to stretch out the expense of a tangible object…
Q: Crane's Market recorded the following events involving a recent purchase of merchandise: Received…
A: Lets understand the basics. Seller in order to attract early payments give discount terms. They term…
Q: These items are taken from financial statements of Beaulieu Limited for the year ended December 31,…
A: Working Note : Profit after Tax = Profit before tax - Tax expenses
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Sheila Williams, a medical secretary, earns $3,575 monthly for a 35-hour week. For overtime work, she receives extra pay at the regular hourly rate up to 40 hours and time and one-half beyond 40 hours in any week. During one semimonthly pay period, Williams worked 10 hours overtime. Only 2 hours of this overtime were beyond 40 hours in any one week. Compute the following amounts. Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent. a. The regular semimonthly earnings $ b. The overtime earnings $ c. The total earningsCarrie Overwood works fluctuating work schedules. Besides her fixed salary of $1,044 per week, her employment agreement provides for overtime pay at an extra half-rate for hours worked over 40. This week she worked 48 hours. Compute the following amounts. Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent. a. The overtime earnings: $87.04 1044/48= 21.75 21.75 x 0.5= 10.88 8x 10.88= 87.04 b. The total earnings: $1,131.04 1044+ 87.04= 1,131.04 c. If this was a BELO plan with a pay rate of $23.45 per hour and a maximum of 48 hours, how much would Overwood be paid for 42 hours? $ NOTE: I already figure out letter A & B. I just need help with letter C please.Stefani Wilson, a medical secretary, earns $3,650 monthly for a 372-hour week. For overtime work, she receives extra pay at the regular hourly rate up to 40 hou and time and one-half beyond 40 hours in any week. During one semimonthly pay period, Wilson worked 6 hours overtime. Only 2 hours of this overtime were beyo 40 hours in any one week. Compute the following amounts. Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent. a. The regular semimonthly earnings 1,825
- Carrie Overwood works fluctuating work schedules. Besides her fixed salary of $1,044 per week, her employment agreement provides for overtime pay at an extra half-rate for hours worked over 40. This week she worked 48 hours. Compute the following amounts. Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent. a. The overtime earnings: $87.04 b: the total earnings: $1,131.04 c. If this was a BELO plan with a pay rate of $23.45 per hour and a maximum of 48 hours, how much would Overwood be paid for 42 hours? $ 1,008.35 23.45x42=984.90 0.5x2x23.45= 23.45 984.90+23.45 =1,008.35 Note: I already figured out A &B. I just need help with letter C. I got 1,008.35 for letter C but it marks it wrong am I doing anything wrong.Carrie Ortiz works fluctuating work schedules. Besides her fixed salary of $1,070 per week, her employment agreement provides for overtime pay at an extra half-rate for hours worked over 40. This week she worked 46 hours. Compute the following amounts. Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent. a. The overtime earnings $fill in the blank 1 69.78 b. The total earnings $fill in the blank 2 1,139.78 c. If this was a BELO plan with a pay rate of $23.45 per hour and a maximum of 46 hours, how much would Ortiz be paid for 43 hours? $fill in the blank 3 1,149.10 HELP! I don't get CColleen Prescott is a salaried employee who works fluctuating work schedules. She is paid a fixed salary of $920 each week, with an agreement with her employer that overtime (over 40 hours) will be paid at an extra half-rate, based on the actual hours worked. This week she worked 42 hours. Compute the following amounts. Round all divisions to two decimal places and use the rounded amounts in subsequent computations. Round your final answers to the nearest cent. a) the overtime earnings? b) the total earnings? c) If this was a BELO plan with a pay rate of $21 per hour and a maximum of 45 hours, how much would Prescott be paid for 42 hours?
- An employee with an annual salary of $77278 is paid every month. What is the gross pay per pay period? Report your answer to two decimal places AND with correct units. Answer:Kyle Forman worked 45 hours during the week for Erickson Company at two different jobs. His pay rate was $14.75 for the first 40 hours, and his pay rate was $11.30 for the other 5 hours. Round your overtime rate and other interim computations to two decimal places and use the rounded amount in subsequent computations. Round the final answers to the nearest cent. Determine his gross pay for that week if the company uses the one-half average rate method. a. Gross pay $ fill in the blank 1 b. If prior agreement existed that overtime would be paid at the rate for the job performed after the 40th hour, the gross pay would be $ fill in the blank 2Calculate gross pay for each of the following employees. All are paid an overtime wage rate that is 1.5 times their respective regular wage rates.NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation. Anita Workman receives tips from customers as a standard component of her weekly pay. She is paid $2.60/hour by her employer and receives $291 in tips during the most recent 44-hour workweek.Gross Pay = $
- Kyle Forman worked 45 hours during the week for Erickson Company at two different jobs. His pay rate was $13.75 for the first 40 hours, and his pay rate was $10.60 for the other 5 hours. Round your overtime rate and other interim computations to two decimal places and use the rounded amount in subsequent computations. Round the final answers to the nearest cent. Determine his gross pay for that week if the company uses the one-half average rate method. a. Gross pay b. If prior agreement existed that overtime would be paid at the rate for the job performed after the 40th hour, the gross pay would beCalculate gross pay for each of the following employees. All are paid an overtime wage rate that is 1.5 times their respective regular wage rates. 1.Samuel Worthy earns both $8.10/hour and a 14% commission on all sales. During the most recent week, he worked 41 hours and made total sales of $12,000.NOTE: For simplicity, all calculations throughout this exercise, both intermediate and final, should be rounded to two decimal places at each calculation.ME Gall Schneewels is a nurse at Central City Hospital. She is paid $32.87 per hour and has a 40-hour standard workweek. During the biweekly pay period from January 11 to 24, she worked a total of 88 hours. Required: What is her gross pay? (Round your intermediate calculations and final answer to 2 decimal places.) Groes pay $ 3,007.61 Check my work