Most states require 150 semester Hours of college credit for which professional certification?
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Most states require 150 semester Hours of college credit for which professional certification?
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- 1. State University, a public university, has a policy of granting faculty members a one-year paid sabbatical leave after a period of seven years continuous employment. The leave is for further study, research or public service. A particular faculty member earns $70,000 per year. Assuming that the college maintains its books and records in a manner that facilitates the preparation of the government-wide financial statements and assuming that any appropriate accruals have been made, what is the appropriate entry to record the employee s salary paid while on sabbatical leave? a. Debit Expenditures $70,000; Credit Cash $70,000. b. Debit Expenses $70,000; Credit Cash $70,000. c. Debit Sabbatical Leave Payable $70,000; Credit Cash $70,000. d. No entry required. 2. State University, a public university, has a policy of granting faculty members a one-year paid sabbatical leave after a period of seven years continuous employment. The leave is for further study, research or public service. A…During 2019, Lincoln Company hires 23 individuals who are certified to be members of a qualifying targeted group. Each employee works in excess of 600 hours and is paid wages of $14,350 during the year. Determine the amount of Lincoln's work opportunity credit.An entity has 100 employees, who are each entitled to five working days of paid sick leave for each year. Unused sick leave may be carried forward for one calendar year. Sick leave is taken first out of the current year’s entitlement and then out of any balance brought forward from the previous year (a LIFO basis). At December 31, 2021, the average unused entitlement is two days per employee. The entity expects, on the basis of experience that is expected to continue, that 92 employees will take no more than five days of paid sick leave in 2022 and that the remaining eight employees will take an average of six and a half days each. The 2021 salary rate is P1,000 per day which increases by P50 each year. How much is the Liability for Compensated Absences as of yearend 2021? How much is the Sick Pay Expense for 2021?
- 1. State Community College, a public college, grants faculty members a one-year sabbatical leave after each seven years of service. There are no requirements for research, study or service during the compensated sabbatical leave. A particular faculty member earns $40,000 per year. Assuming that the college maintains its books and records in a manner that facilitates the preparation of the government-wide financial statements and assuming that any appropriate accruals have been made, what is the appropriate entry to record the employee s salary paid while on sabbatical? a. Debit Expenditures $40,000; Credit Cash $40,000. b. Debit Sabbatical Leave Payable $40,000; Credit Cash $40,000. c. Debit Expenditures $40,000; Credit Cash $40,000. d. No entry required. 2. State Community College, a public college, grants faculty members a one-year sabbatical leave after each seven years of service. There are no requirements for research, study or service during the compensated sabbatical leave. A…Lake Community College gives its faculty the option of receiving the balance of their contract at the end of the semester on May 17, 20--. The faculty can receive one lump-sum payment instead of receiving the remaining seven biweekly pays over the summer. Use the data given below to complete the Payroll Register on May 17. No employee has reached the OASDI ceiling, and all employees are taking the lump-sum payment. The state withholding rate is 2.0% of total earnings; the city withholding rate is 1.0% of total earnings. The biweekly wage bracket is used for federal income taxes. To calculate the tax withholdings, you must calculate the rounded tax for each pay and multiply by the number of pays in the lump-sum payment. Round all values to the nearest cent. Click here to access the Wage-Bracket Method Tables. For Period Ending May 17 Employee Name MaritalStatus No. ofW/HAllow. BiweeklyEarnings (a) Deductions (f) Total Lump-SumPayment (b) FICA (c) (d) (e) Net OASDI HI FIT SIT CIT…University at student supplies needs funds to obtain books before the start of the semester. The store manager signed a promissory note with a face value of 28,080. Find the ordinary interest rate if the interest charges over 180 days are 780.
- On December 1, 2019, AwakcAllNight Inc. sells 5,000 super caffeinated candy bars to Campus Grocers. The candy bars sell for 3 per bar. In addition, AwakcAllNight pays Campus Grocers a 900placement fee to ensure that its candy bars are always stocked prominently by the cash register. The 900 is paid at the end of each month based on the results of random inspections of Campus Grocers by AwakcAllNight to ensure that the terms of the contract are being followed. Required: 1. Determine the transaction price for Awake AllNights revenue contract. 2. Prepare AwakeAllNights journal entries to recognize sales revenue and pay Campus Grocers the placement fee.Campus Cellular provides cell phones and 1 year of cell service to students for an upfront, nonrefundable fee of $300 and a usage fee of $5 per month. Students may renew the service without paying another upfront fee for each year they are on campus (on average, students renew their service one time). What amount of revenue should Campus Cellular recognize in the first year of the contract?How much is the warranty expense for the year ended December 31, 2021? With the goal of attracting as much customers as possible in the CAR region, LISA Appliance Co. engaged in a customer satisfaction program and marketing strategy for two of their major lines of products: (1) electrical appliances and (2) household and office furniture. All branches in the region are participating in the company’s promotions. In the customer satisfaction program, LISA provides one-year warranty replacement of parts and labor of the electrical appliances sold. Based on past experience, the estimated warranty cost is 3% of sales. During 2021, total sales of electrical appliances was ₱7,200,000. Replacement parts and labor for warranty work totaled ₱184,000 during 2021. In the company’s marketing strategy for the household and office furniture section, customers are given a coupon for every ₱1,000 spent on these items. Customers may exchange 10 coupons plus ₱500 for a “hot and cold” water dispenser.…
- Subject : accounting' Lacy Crawford has a regular hourly rate of $21.60. In a week when she worked 40 hours and had deductions of $110.60 for federal income tax, $53.60 for social security tax, and $12.50 for Medicare tax, her net pay wasCampus Cellular provides cell phones and 1 year of cell serviceto students for an upfront, nonrefundable fee of $300 anda usage fee of $5 per month. Students may renew the servicefor each year they are on campus (on average, students renewtheir service one time). What amount of revenue shouldCampus Cellular recognize in the first year of the contract?$7,800 is placed for 4 bimonthly periods in a financial agency that offers 6% per semester. How much will they earn in interest and how much will accumulate at the end of the period?
