Answer:
Personally, I think that Adam Smith would criticize the capitalist systems of today, as these countries spend an enormous amount of resources on political and economic measures of social assistance (such as public health or subsidies for certain expenses). These expenditures in general, and especially the enormous amount of resources allocated to social welfare, are contrary to the theory of the invisible hand, by which markets and their mechanisms of competition are by themselves the only ones that benefit the population.
Answer:
The correct answer is $748.425
Explanation:
Wage Rate of Employee: $25
Over time of Employee: $25 + $12.5 = $37.5
Normal work hours: 40
According to data, total hours worked by employee: 45
Overtime hours: 5
So normal work hour wage would be: 40 * 25 = 1000
Overtime wage would be: 5 * 37.5 = 187.5
Total wage for the week:
1000+187.5 = 1187.5
This is the gross income.
NOW for net income, we would deduct all the taxes from the gross salary.
Federal income tax deductions: = 1187.5-350 = 837.5
Social Security is 6% of Gross pay. So 1187.5 * 0.06 = 71.25
Medicare Tax is 1.5% of Gross pay. So 1187.5 * 0.015 = 17.8125
Net Income = Gross salary - Federal income tax - Social security - Medicare Tax = 1187.5 - 350 - 71.25 - 17.1825
= $748.425
Debit cash:
Invested by owner, $30,000
Collection of account receivable 1,900
Performed consulting services for cash 4,200
Balance 4,800
Credit Purchased:
Equipment, $26,000
Cash payment of rent 1,000
Purchase of supplies for cash 2,500
Payment of account payable 900
Payment of salary 700
<span>Withdrawal by owner 200
</span>Cash:
Debit Balance 5,500
The initial investment by owner 20,000
Fee revenue earned 6,500
Credit Withdrawal by owner 16,000
<span>Payment of rent 5,000</span>
Answer:
Time value of money
Explanation:
The ability of money kept in a savings deposit to earn interest over time and the increase in the total interest in line with the length of time, brought us to a conclusion that <em>an amount of money to be received now, that is in the present, is worth more than the same amount if received in the future.</em>
The increase in the value of money as a result of interest earned on it, increases the value of money, this concept is what is referred to time value of money.
The statement that indicates the impact of the Globalization on the African farming community is use of modern methods of farming increased the crop production of the people.
<h3>What is Globalization?</h3>
Globalization is a term which refers to the interconnection and interaction of the economy with that of the world's economy. It involves the exchange of the knowledge, trade, technology and even people.
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The African farmers faced many challenges but still they are graced with a very appropriate soil type, which has been aided by modern irrigation practices, fertilizers.
Many of the international aggro-processing company that set up factory near the village in the hopes of obtaining easy and cheap labor. As a result of these factors, people's crop production has increased dramatically.
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