Answer:
$7,700 increase
Explanation:
We can determine the change in Wolverine's cash balance by deducting the cash disbursement and operating expenses from the cash receipts.\
Change in cash balance = Cash receipts - Cash disbursement - Operating expense
Change in cash balance = $48,000 - $33,800 -$6,500
Change in cash balance = $7,700
WORKING:
<u>Cash Receipts</u>
Sales
February ( 59,000 x 45%) $26,550
January ( 39,000 x 55%) $21,450
Total $48,000
<u>Cash disbursement</u>
Purchases
February ( 44,000 x 15%) $6,600
January ( 32,000 x 85%) $27,200
Total $33,800
<u>Operating expenses </u>
Incurred $9,400
Depreciation ($2,900)
Net $6,500
Answer:
Part a : If JumpStart paid cash
Office Supplies $870 (debit)
Cash $870 (credit)
Part b : If JumpStart placed it on account
Office Supplies $870 (debit)
Account Payable $870 (credit)
Part c : If JumpStart pays the amount due
Account Payable $870 (debit)
Cash $870 (credit)
Explanation:
Part a : If JumpStart paid cash
Recognise an expense for Office Supplies and reduce the assets of cash to reflect outflow of economic benefits in form of cash
Part b : If JumpStart placed it on account
Recognize an expense for Office Supplies and also recognise a Liability - Accounts Payable to reflect a present obligation created by JumpStart to its Supplier
Part c : If JumpStart pays the amount due
Derecognise the Liability - Accounts receivable since the liability has been settled and reduce the assets of cash to reflect outflow of economic benefits in form of cash due to settlement of Account
Answer:
Deitz Corporation
Cash Budget
For the Quarter ended March 31, 2020:
Beginning balance $33,300
Cash Collections From Customers 205,350
Sale of Equipment 3,330
Total available cash $241,980
Cash Payments:
Direct materials $47,730
Direct labor 77,700
Manufacturing overhead 38,850
Selling & Administrative 49,950
Purchase of Securities 15,540 $(229,770)
Ending Balance $12,210
Minimum Balance 27,750
Shortfall $15,540
Explanation:
Deitz Corporation uses this Cash Budget which it has prepared to understand its financial needs for the next quarter. For example, with the minimum balance of $27,750 most likely based on past experience the corporation will start making arrangements for some outside funds to the tune of $15,540 or more to meet its cash needs for the first quarter.
Answer:(1) The HR professional should have read the company policy and employment contract of each employees (2) Proper employees files should be maintained (3) order a reverse of the 11 percent pay increase untill the issue leading to the increase is looked into (4) The grievance will be on employee compensation and benefit (5) I will use the employee grievance process .
Explanation:
The human resources management is the process of supporting the accomplishment of organization objective by recruiting the needed human resources into the organization, integrating them into the organization as well as developing their potential for the overall benefit of the organization. The human resources management department is responsible for the personnel matters in the organization. In every organization, they usually have a company policy which is focused on how to resolve employees grievance in the organization. Therefore, as regard the case under review the HR professional should do the following to handle the issue at hand
(1) The HR manager should read the company policy on how a pay raise should be given to each employees, in addition to this the HR manager must also read the employment contract of each employees in order to know if the employees actually deserve a pay raise.
(2) with a view to prevent this in the future, the HR professional should ensure that employees files are properly maintained and before a pay raise can be granted to any employees in the future it should be in accordance with the contract agreement surrounding pay increases.
(3) The 11 percent pay raise that was already promised to the employees will be order to reversed back to the status quo untill the matter is looked into holistically to know if the employee actually deserve to have a pay raise in accordance with contract agreement surrounding pay increases.
(4) The grievance would be a formal notice to the management to register their dissatisfaction as regard the pay increase granted to only one employee that does not go across board.
(5) I will settle the grievances before involving other members of the grievance committee, I will then held a meeting with the representatives of the workers in private.then if the issue cannot be resolved at that level, I will investigate the matter further and the result will be made known to the workers and if the workers is not satisfied the matter will go to the management level where the fact of the matter will be looked into and a decision will be made to settle the grievance.
