What is usually paid on a biweekly or monthly basis for professional employment.

1 answer:

4 0

Salary is usually paid on a biweekly or monthly basis for professional employment.
When employees work every day, they get paid after a certain period of time (usually after two weeks or at the end of the month) for the job they have finished. There is also a type of payment called a wage, however, wages are paid either daily or weekly.

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Firm A has fixed operating costs of $100,000, variable operating costs per unit of $8 and a selling price of $20 per unit. Inter

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3 years ago

Vasco Company purchased equipment on January 1, 2001 at a purchase price of $50,000. Vasco paid $2,500 in shipping costs on the

Lynna [10]

Answer:

The amount of depreciation expense is $3,871.86.

Explanation:

Sum-of-the-years digits method is determined by: (Remaining useful life/Sum of the years' digits) x Depreciable cost.

Depreciable cost = Cost - Salvage value

Depreciable cost = $50,000 + $2,500 - $5,000 = $47,500

Insurance premium is usually for a period of 1 year. This will be treated as prepayment instead of being added to the cost of the equipment. Shipping cost is added based on the recommendation of IAS 16 Property, Plant and Equipment.

Depreciation expense = 6/21 x $47,500 = $13,571.43 for Year 2001

Depreciation expense = 5/21 x $47,500 = $11,309.52 for Year 2002

As at December 2002, the accumulated depreciation will be $13,571.43 + $11,309.52 = $24,880.95; so, net book value is $52,500 - $24,880.95 = $27,619.05.

Change in estimate: 8/55 x $27,619.05 - $1,000 = $3,871.86.

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Problem 10-01A a-c (Video) (Part Level Submission)

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Where is a more popular place a thief would go to troy to steal your personal information?

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Cleveland Company purchased $2,700 of inventory on account from Pinto Industries on March 8th. The terms were 2/15, n/45. Clevel

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Accounts Payable $2900

Cash $2691

Inventory $209

Cleveland didn't pay during the discount period,

So the amount due is $2,700 - 450 = $2,250

Cash was charged in freight charges prior to delivery of the invoice.

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