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Question - Jerry Lopez works for Lightning Bolt Ltd. His annual salary is $100 000 and he is paid weekly. As part of his employment agreement, he is entitled to four weeks' annual leave each year. He receives a leave loading of 17.5 per cent.
Required -
(a) Provide the weekly journal entries to record the recognition of Jerry Lopez's annual leave entitlements.
(b) Provide the appropriate journal entries, assuming that Jerry Lopez takes two weeks' annual leave after being employed for one year and assuming that the tax deducted from the payment for the two weeks is $1200.
when a plant asset is retired from productive service, (without any sale) that originally cost $100,000 and had accumulated depreciation of $80,000, the correct accounting treatment is what?
What is the warranty period for Polaris' products? and How does management establish and adjust the warranty reserve
Allowance for Doubtful Accounts has a credit balance of $23000 at the end of the year, before adjustments
Ivanna, who has three children under age 13,Determine what The amount of Ivanna and Sergio's credit for child and dependent care expenses is
Novak Inc. was incorporated in 2016 to operate. Prepare all entries Novak should have made in its accounting records during August 2017 relating to this lease.
utech company bottles and distributes livit a diet soft drink. the beverage is sold for 50 cents per 16-ounce bottle to
Question - Office World manufactures commercial office furniture. Based on the above transactions, prepare the January income statement for Office World
Two acquaintances have approached you about investing in business activities in which each is involved. Compute the ROI of Nateisha and Tian
What is junior accountant. Explain (with reasons) whether you agree with the junior accountant or not for each of the note (1 to 14) above respectively.
Paid installers and other employees a total of $82,000 for salaries for the year. Assume the Social Security tax rate is 6 percent and the Medicare tax rate is 1.5 percent.
calculate the sales mix variance, A company manufacturing Pens , expects to sell 100 ball pens, with a contribution margin
How much income must be reported by each employee? How much may Lamar deduct for group term life insurance premiums
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