Answers
Final answer:
The question asks to identify a problem in the liabilities section of a balance sheet, specifically in the payroll information, and suggest a solution. Possible issues could be inaccurate payroll calculations or inconsistencies between records. A possible solution could be auditing the payroll and implementing regular checks.
Explanation:
The question asks you to review the liabilities section of the balance sheet for a company named Rings and Things with a focus on the payroll information. It's important to note that without specific details from the balance sheet and payroll information, a precise issue can't be identified. However, typical problems in this area could include inaccurate payroll calculations or discrepancies between the balance sheet and payroll records.
A solution to these issues could involve auditing the payroll procedures to identify and rectify any errors or inconsistencies. Furthermore, regular checks and audits could be implemented to prevent these types of issues from occurring in the future. It’s fundamental that Janet and Omar ensure all records are meticulous and accurate to maintain a healthy balance sheet.
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Answer:
Explanation:
Most of the liability costs are coming from payroll, the individual salesperson. This employee only worked for 20 hours during April, and yet still makes an income of $1000 dollars. This means they have an hourly rate of $50 an hour, which is way more than the standard employee should be making. I would recommend Janet and Omar to decrease the hourly rate to something more standard, like minimum wage. This would decrease their liability costs by more than 50% because California's minimum wage rate is only about $12-13.
Related Questions
Suppose a nation has a labor force of 45.5 million workers and an unemployment rate of 6.15%. Instructions: Round your answers to two decimal places. a. How many workers in this nation are unemployed? million b. How many workers in this nation are employed? million
some people have jobs some people go to college. assuming these two statements are true most people that attend college have jobs
James, Inc., has purchased a brand new machine to produce its High Flight line of shoes. The machine has an economic life of 5 years. The depreciation schedule for the machine is straight-line with no salvage value. The machine costs $540,000. The sales price per pair of shoes is $77, while the variable cost is $29. Fixed costs of $245,000 per year are attributed to the machine. The corporate tax rate is 22 percent and the appropriate discount rate is 9 percent. What is the financial break-even point? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16)
Felicia is looking for a new job in the insurance industry. She used to work for the controller of a retail company. What items should she add to her resume to explain her work for the controller? Select the 2 that apply.
Answers
Answer:
$145,008
Explanation:
Outstanding checks at the end of November = $68,800 + $63,002 = $131,802
Outstanding checks at the end of December = $131,802 + $94,176 - $80,970 = $145,008
Therefore, the amount of outstanding checks at the end of December is $145,008.
Answers
Answer:
c) $767,464.54
Explanation:
The computation of the future value of an annuity is shown below:
As we know that
Future value of annuity F = Payment made × ((1 + rate of interest)^t - 1) ÷ rate of interest
= $3,400 × (1.092^35 - 1) ÷ 0.092
= $3,400 × 225.7249
= $767,464.54
Hence, the future value of an annuity is $767,464.54
Therefore the correct option is c.
Final answer:
Noma will have $767,464.54 in 35 years.
Explanation:
To calculate the future value of Noma's savings, we can use the formula for compound interest: FV = P(1 + r)^t, where FV is the future value, P is the principal amount, r is the interest rate, and t is the number of years. In this case, Noma plans to save $3,400 per year for 35 years with an annual interest rate of 9.2 percent. Plugging these values into the formula:
FV = 3400 * (1 + 0.092)^35
Calculating this expression, Noma will have a future value of $767,464.54 in 35 years.
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Answers
Answer:
$18.29
Explanation:
It is very simple as per the question to calculate the current stock price.
The formula for calculating the Stock price is,
P = D/(r-g)
Hence, we calculate as follows,
Price = 0.75/(0.105-0.064)
Price = 0.75/0.041
Price = $18.29
Good Luck.
2)It is a legal cross-licensing agreement.
3)It is an illegal tying arrangement.
4)It is an illegal cross-licensing agreement.
5)It is both a legal tying and a legal cross-licensing agreement.
Answers
Answer:
3) It is an illegal tying arrangement.
Explanation:
Tying is said to be an illegal arrangement where, for one to buy a product, the consumer must purchase another product that exists in a separate market. There isn't any legal backing but things work out well for all parties involved.
Interest received on municipal bonds of $ 20,000
The enacted tax rate for 20X0 is 30% and 25% thereafter. In its December 31, 20X0, balance sheet, Lake should report a deferred income tax liability of:
a.$4,500
b.$0
c.$3,750
d.$28,500
Answers
Answer:
b.$0
Explanation:
As we know that
When there is a temporary discrepancy between financial income and taxable income a deferred tax benefit or liability occurs. Temporary difference means an benefit or cost with respect to treatment that has just a timing gap.
Moreover, the Premium on officer's life insurance is tax deductible i.e $15,000 as it is paid by the company due to which difference arise between the financial and taxable income.
And,
Interest received on municipal bonds $20,000 are mostly exempt from federal income tax.
Therefore, it shows no such difference as it indicates the permanent difference
Answers
Answer:
The correct answer is b. Total revenue will fall.
Explanation:
The equation for the price elasticity of demand (PED) is ε =
where Q represents the quantity, P represents the price and d represents variation.
If the demand for a product is highly elastic, mathematically it means that the PED in absolute value is greater than 1.
|ε| > ⇒ |ε| > 1
Economically that means that the quantity demanded of that product will decrease more than proportionally to the increase in price of that same product. In other words, the company will experience that a increase in price of its product raises the revenue for each unit sold, but given that the PED is highly elastice an increase in price reduces the number of units actually sold to the extent the company's total revenue actually falls.