Answer:
The correct answer is
c. The balances in a special journal must always reconcile to the general ledger.
good luck
Answer:
b. Rennie is not eligible for overtime under the new FLSA regulations because, as a professional worker, she is exempt from overtime regulations.
Explanation:
According to the Fair Labor Standards Act (FLSA) certain employees are exempt from overtime regulations:
- executives (top management and board of directors)
- professionals: Rennie falls under this category because she already graduated from law school.
- administrative
- computer
- external sales
Anyone that falls under any of these categories, is exempt from overtime pay and other FLSA regulations.
Answer:
Ethics
Explanation:
Ethics also called moral philosophy involves how an individual systemises, defends and recommends the concept of right or wrong.
Summer is facing an ethical decision of either returning the bag or keeping it for herself. Her decision will be based on her definition of right or wrong.
If her moral philosophy is one that does not see theft as something that is wrong, she will decide to keep the bag. If on the other hand she sees keeping the bag that is not her own as wrong she will decide to return it.
Answer:
Given:
Demand = 15,000
Initial investment = $256,000
Variable cost = $15
Selling price = $30
Here, we'll first compute break-even quantity :
i.e. 


From above we can state that the demand is less than break-even quantity i.e. in this case the organization will not be able to recover the investment made.
<u><em>Therefore, the company's total margin will be less than its investment. </em></u>
<u><em>The correct option is (b)</em></u>
Answer:
See the explanation below.
Explanation:
The Accounting Officer,
ABC Co.,
12, Ogbere Road,
Ibadan, Nigeria.
28 July 2019
Dear Mr. James,
Re: Refund of $2,000 Excess Receipt and Rent Adjustment
Kindly take this as response to your request for a refund of $2,00 for extra rent that was paid in June.
After a careful examination of my bank statement, I discovered that my account was credited twice with the sum of $2,000 for the rent due to a bank error.
The adjustment is hereby made as follow:
<u>Details $ </u>
Amount received 4,000
Refund of excess payment <u> (2,000) </u>
Actual rent paid <u> 2,000 </u>
Kindly find enclosed in this letter an amount of $2,000 as the refund of the excess payment.
I look forward to receiving your response and acknowledgment of the receipt of the refund.
Yours sincerely,
Amcool.