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3 years ago

Explain why two employees at a company, earning the same gross pay, might have different net pays.

Business

2 answers:

aliina [53]3 years ago

5 0

Answer:

Gross pay is the total amount of money an employee is entitled to at the end of a working period while Net pay is the money an employee gets at the end of a working period after all necessary deductions must have been done.

Explanation:

Gross pay of two emloyees might be the same without having the same net pay because the deductions made from the gross pay to arrive at their net pay may be different. deductions such as pension, housing allowances, car allowances, transport allowances vary across employees and this might lead to the discrepancy.

Orlov [11]3 years ago

4 0

It would be depending on how they filled out their tax forms before starting the job. Some people may have children to claim on their tax returns and some people may only be able to claim only theirself .

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he company rented an office for $ 3600 per month starting from January 1, 2018. On that day, ABC prepaid the rent through June

pickupchik [31]

Answer:

The balance in the Prepaid Rent account as of April 30, 2018 = $7,200

Explanation:

Monthly rent = $3,600

Rent paid on 1 January = $3,600 $\times$ 6 = $21,600

Out of which Prepaid Rent = $3,600 $\times$ 5 = $18,000

for 5 months

Prepaid rent account as on April 30 balance will be of rent for May and June,

That is $3,600 $\times$ 2 = $7,200

Only this amount will be outstanding in prepaid rent as for the month till April each month rent would have been adjusted from February to April.

Final Answer

The balance in the Prepaid Rent account as of April 30, 2018 = $7,200

8 0

3 years ago

In its first year of operations, Crane Company recognized $29,500 in service revenue, $6,100 of which was on account and still o

Montano1993 [528]

Answer: See explanation

Explanation:

1. Calculate the first year's net earnings under the cash basis of accounting, and the first year's net earnings under the accrual basis of accounting.

The first year's net earnings under the cash basis of accounting will be:

Service revenue = $23400

Less: Expenses = $14310

Net income = $9090

The first year's net earnings under the accrual basis of accounting will be:

Service revenue = $29500

Less: Expenses = $15500

Net income = $14000

2. Which basis of accounting (cash or accrual) provides more useful information for decision-makers?

It should be noted that the accrual basis of accounting gives decision makers more useful information. This is due to the fact that the decision makers will probably want to know the revenue and the expenses that were incurred for a particular period and every other necessary details.

8 0

3 years ago

Name one form of collusion

Vera_Pavlovna [14]

Answer:

price fixing

Explanation:

The collusion occurs when firms agree to collaborate in a way that disrupt markets such as fixing prices above the actual price to alter the equilibrium of the market

3 0

3 years ago

Read 2 more answers

If a company rents a warehouse, it must pay rent for the warehouse whether it is full of inventory or completely vacant. Other e

Aleksandr [31]

As the output is increased or decreased, these (B) fixed costs remain unchanged.

<h3>What are fixed costs?</h3>

Fixed costs, also known as indirect costs or overhead costs in accounting and economics, are corporate expenses that are independent of the volume of goods or services generated by the business.
They are usually recurrent, such as monthly interest or rent.
These expenses are frequently capital expenses.

<h3>Explanation -</h3>

Dependent refers to a variable that changes when other factors change.
Fixed cost refers to a cost that doesn't change when the number of goods produced increases or decreases.
Opportunity cost refers to the benefit that you would have received from the option that was not chosen.
Marginal cost refers to the change in the cost when you produce an additional unit.
According to this definition and as the statement refers to a cost that doesn't change.

Therefore, as the output is increased or decreased, these (B) fixed costs remain unchanged.

Know more about fixed costs here:

brainly.com/question/3636923

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Complete question:

If a company rents a warehouse, it must pay rent for the warehouse whether it is full of inventory or completely vacant. Other examples include executives' salaries, interest expenses, depreciation, and insurance expenses. As the output is increased or decreased, these _______ costs remain unchanged.

a. dependent

b. fixed

c. opportunity

d. marginal

5 0

2 years ago

Discount Airlines is preparing a contribution margin report segmented by route. The following information is available: Atlanta/

IgorC [24]

Answer:

17.3%

Explanation:

The contribution margin ratio is shown below:

Contribution margin ratio = Contribution margin ÷ Sales × 100

where,

Contribution margin is

= Sales - variable cost

Sales arise from passengers ($1,250 × 7,100) $8,875,000

Less:

Food ($7 × 7,100) $497,00

Selling ($90 × 7,100) $639,000

Fuel ($15 × 190,000) $2,850,000

Wages ($20 × 190,000) $3,800,000

Total variable cost ($7,338,700)

Contribution margin $1,536,300

So, the contribution margin ratio is

= $1,536,300 ÷ $8,875,000

= 17.3%

8 0

3 years ago