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Athena Company's salaried employees earn two weeks of vacation per year. It pays $806,000 in total employee salaries for 52 weeks but its employees work only 50. Record Athena Company's weekly journal entry to record the vacation expense:
a. Debit Vacation Benefits Expense $16,835; credit Vacation Benefits Payable $16,835.
b. Debit Vacation Benefits Expense $15,500; credit Vacation Benefits Payable $15,500.
c. Debit Vacation Benefits Payable $620; credit Vacation Benefits Expense $620.
d. Debit Vacation Benefits Expense $16,120; credit Vacation Benefits Payable $16,120.
e. Debit Vacation Benefits Payable $15,500; credit Vacation Benefits Expense $15,500.
If a CPA knows that the client has a material error on a prior year’s return, he should not, without the client’s consent, disclose the error to the IRS.
A company has contribution margin per unit of $60 and a contribution margin ratio of 40%. What is the unit selling price? Contribution margin. Which statement is true when evaluating the margin of safety?
preparation of bank reconciliation statement.the bank statement for kaibab enterprises indicates a balance of 8509.00
Explain how activity based costing could overcome the deficiencies in the existing costing system -activity based costing to develop the cost for each activity centre.
brandywire homecare a not for profit business had revenues of 12 million in 2007. expenses other thatn depreciation
The board of directors of Dell declared cash dividends of $70,000 in 2011 after paying $40,000 cash dividends in 2010 and $50,000 in 2009.
Calculate purchase-price variances for the fourth quarter and for the year. How much of the price vari- ance is attributable to changes in foreign currency exchange rates?
Harry has two jobs. He earns $117,700 from his first job and $10,000 from his second job. How much total FICA withholding will Harry have withheld from his wages from working two jobs?
If an investment has cash outflows of Q dollars at the end of each year for three years, then the present value of these cash outflows under a 10% rate of return will be:
Are adjusting entries used in an accrual basis accounting system or in a cash basis accounting system?
Prepare a flexible manufacturing budget for the relevant range value using22,750 unit increments.
An Accountant made the following adjustment at December 31, the end of the accounting period: Prepaid insurance , beginning , $600. Payments for insurance during the period $2,400. Prepaid insurance ending $700. Journalized the adjusting entries. S..
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