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1 year ago

Licensee mike was owed a commission from seller jane. jane has refused to make payment. what recourse does licensee mike have?

1 answer:

5 0

Licensee mike was owed a commission from seller jane. jane has refused to make payment. The recourse licensee mike has is he can seek damages from his broker.

A sales commission is typically an amount paid to an employee upon completion of a task for the sale of a specified quantity of goods or services. Employers sometimes use sales commissions as an incentive to increase employee productivity. Commissions may be paid in addition to or in lieu of salary.

Commission-based compensation benefits employees because they are ultimately in control of their income. In many ways, when a company uses commission payments, it doesn't limit an employee's potential to increase their income. Jobs that typically earn commissions include:

Learn more about commission here:brainly.com/question/25169847

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Journalize the following transactions for Combs Company.

lions [1.4K]

Answer:

No Account Titles and Explanation Debit Credit

A. Raw material inventory $13,800

Direct material price variance $740

($13,800 - $13,060)

Account payable $13,060

(To record purchase of materials)

B. Work in process inventory $13,780

6,890 * ($13,800/6,900)

Direct material quantity variance $220

($13,780 - $13,560)

Raw materials inventory $13,560

6,780 * ($13,800/6900)

(To record materials issued to production)

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2 years ago

Imagine you have $30 to spend. You are thinking of buying new soccer shoes because yours

Nitella [24]

Answer:

video game

Explanation:

because I don't go outside, I'm a gamer

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2 years ago

When a government collects more revenue in one year than it spends, there is a budget?

murzikaleks [220]

This is a profit, which increases next year's budget.

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2 years ago

The actual cash received from cash sales was $3,930 and the amount indicated by the cash register total was $3,880. the journal

Nuetrik [128]

The actual cash received from cash sales was $14,356 and the amount indicated by the cash register total was $14290

a.what is the amount deposited in the bank for the day's sales?

14,356
Because this is the amount which is actually received by sales

b.What is amount recorded for the day's sales?

14,290
Because this is the amount which has been recorded in the cash register.

c.How should the difference be recorded?

Dr Cash 14,356
Cr Over/Short 66
Cr Sales 14,290

d. If a cashier is consistently over or short what action should be taken?

First of all we need to find out that whether the cashier is genuinely making mistakes or there is a case of theft.There would be some close monitoring. If they are just mistakes, maybe some extra mentoring in cash handling would help.

E5-18

Part a and b are informational and thus we dont have to do anything with them.

Part c and d are reconciling terms.

Parts e and f needs entries to adjust the company's books. For e there needs to be a debit to cash for the incorrect amount and a credit for the correct amount. For f there needs to be a credit to cash.

E.
(Dr) Cash in bank $540
(Cr) Accounts payable $540
$710 - $170

F.
(Dr) Bank charges $50
(Cr) Cash in bank $50

Bank reconciliation:
Cash balance per book $24,010
Add: error $540
Less: Debit memo $50
Adjusted book balance $24,500

Cash balance per bank $22,750
Add: Deposits in transit $9,100
Less: Outstanding checks $7,350
Adjusted bank balance $24,500

Hope you get it.

Get back to me in case you have any doubts.
I would be happy to help.

5 0

2 years ago

What is the 2016 repayment limitation for a single taxpayer who has income at a 350% poverty level?

GarryVolchara [31]

I'm assuming single means non-married, in that case your max repayment would be $1,250

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2 years ago