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1 year ago

When an employee works in year 1 but is paid in year 2, the company must recognize an expense in years) ______.

Business

1 answer:

Ivanshal [37]1 year ago

4 0

When an employee works in year 1 but is paid in year 2, the company must recognize an expense in years 1 only.

An expense is the monetary value of tasks that an organization causes to create income. As the well-known saying goes, "it costs cash to bring in cash.

Normal expenses incorporate installments to providers, worker compensation, manufacturing plant leases, and hardware devaluation.

Organizations are permitted to discount charge deductible costs on their annual government forms to bring down their available pay and hence their assessment obligation.

To learn more about Expenses.

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Explanation:

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They will pay net $229,030 after paying a 7.5% commission to their broker.

<h3>What is commission?</h3>

Commissions are a type of variable-pay compensation for provided services or sold goods.
Commissions are a typical method of encouraging and rewarding salespeople. It is also possible to create commissions to promote particular sales behaviors.
For instance, when offering significant discounts, commissions might be decreased.
When you buy, you normally pay a commission, and when you sell, you typically pay another commission. Investment commissions are not regarded by the IRS as a tax-deductible item.
Instead, the commission is included in the cost basis of the investment, giving you a small tax break.

<h3>Calculation of net payment:</h3>

= 100% - 7.5%

= 92.5%

= $247,600 x 92.5%

= $229,030

Hence, they will pay net $229,030 after paying a 7.5% commission to their broker.

Learn more about commision here:

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