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On January 4 an employee has gross pay of $1,800. EI Rate 1.83% CPP Rate 4.95%. The company has a bi-weekly payroll schedule.
Required:
Question 1: Calculate and record the EI and CPP amounts that would be deducted from the employee's gross pay.
Caring Community Hospital, a not-for-profit hospital, recorded the following transactions. For each of the transactions, indicate which revenue classification would be affected by selecting the appropriate revenue or gain classification from the list..
Compute the Current ratio, Inventory turnover, Receivables turnover, Book value per share, Earnings per share, Debt to total assets, Profit margin on sales and Return on common stock equity.
A cash discount is usually granted to all of the following except
Give one example of business activities in which revenue is recognised over time. Explain the rationale in recognising revenue over time instead
Truck Company trades its used delivery trucks for a new models at Greenwich GMC. The used trucks have a book value of $60,000 (original cost $140,000 less $80,000 accumulated depreciation). The new trucks have MSRP of $80,000. Prepare the journal ent..
Determine the following for Kermit Company: Flexible-budget operating income, Flexible-budget variance, in terms of contribution margin and Flexible-budget variance, in terms of operating income.
When a small change in sales results in a large change in operating income, one possible reason is that the firm is employing a relatively high degree
The codified rules in ASC 932 are largely based on two former FASB statements: Other former FASB statements that have special impact on the industry are: The SEC's rules for oil and gas producing companies are found in:
GB Service Corporation has two service departments, Administration and Accounting, and two operating departments, East and West. Administration costs are allocated on the basis of employees, and Accounting costs are allocated on the basis of number o..
Prepare consolidation journal entries for the period ended at 30 June 2017. Prepare the consolidation worksheet for the period ended 30 June 2017.
Identification of relevant costs - Identify all the relevant costs that HMI should consider in evaluating the special sales order from LawnPro
What type of intangible assets is subject to amortization? What are three different methods of amortization? Record the entry for the premium payment.
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