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bogdanovich [222]
3 years ago
6

Wilson is offered a job in Kansas City that pays $50,000 and a job in Dallas that pays $60,000. Which pair of CPIs would ensure

that the two salaries have the same purchasing power?a. 100 in Kansas City and 124.5 in Dallas b. 80 in Kansas City and 100 in Dallas c. 125 in Kansas City and 150 in Dallas 0 d. 100 in Kansas City and 140 in Dallas
Business
1 answer:
Svetradugi [14.3K]3 years ago
4 0

Answer:

option C is correct CPI in Kansas City is 125 and in Dallas is 150.

Explanation:

given data

Kansas City pays = $50,000

Dallas that pays = $60,000

solution

we know that CPI base year is always  = 100

first we get here real salary value in Kansas City that is express as

Real Value = Salary in Kansas City × (CPI base year ÷ CPI current year) ..........1

put her value we get

Real Value = $50,000 × \frac{100}{125}

Real Value =  $40000

and now we get here real salary value in Dallas that is express as

Real Value = Salary in Dallas City × (CPI base year ÷ CPI current year) ..........2

put her value we get

Real Value = $60,000 × \frac{100}{150}

Real Value =  $40000

so now we can see that both value is same in both city with CPI Kansas City = 125 and CPI Dallas = 150

so here correct option is c. 125 in Kansas City and 150 in Dallas  

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Brown Co. pays weekly salaries of $10,500 on Friday for a five-day workweek ending on that day. Assuming the end of the accounti
ra1l [238]

Answer:

c.credit to Wages Payable for $6,300.

Explanation:

The journal entry to record the wages expense is shown below;

Wages expense dr ($10,500 × 3 ÷ 5) $6,300

      To Wages payable $6,300

(being the wages expense is recorded)

Here the wages expense is debited as it increased the expense and credited the wages payable as it increased the liabilities

8 0
3 years ago
Nov. 5 Purchased 850 units of product at a cost of $10 per unit. Terms of the sale are 3/10, n/60; the invoice is dated November
pickupchik [31]

Answer: Please see explanation column for answer

Explanation: A perpetual inventory system maintains inventory balances ensuring that records are continually made immediately when purchases or sale are made together with any returns which are recorded in inventory accounts.

To record purchase of merchandise

Date         Account                                    Debit       Credit

Nov 5    Merchandise Inventory         $8500

         Accounts payable                                               $8,500

To record return of merchandise purchased

Nov 7      Accounts payable                  $300

       Merchandise Inventory                                          $300

To record payment of inventory

Nov 15    Accounts payable                $8,200                      

              Cash                                                                  $7,954

          Merchandise Inventory                                         $246

Calculation =

Nov 5 - Cost of merchandise purchased =  No of units x unit price = 850 x 10 =$8500

Nov 7 - Cost of merchandise returned =  No of units returned x unt price = 30 x 10 = $300

discount received = Balance from accounts payable  x discount rate = (8,500- 300) x 3%= 8200 x 0.03=  $246

   Cash  =    Accounts payable    - Merchandise Inventory = $8200 - 246 =$7984.

4 0
3 years ago
Tanning Company analyzes its receivables to estimate bad debt expense The accounts receivable balance is $300 000 and credit sal
pentagon [3]

Answer: Bad Debt Expense 28,000 Allowance for Doubtful Accounts 28,000

Explanation:

Account receivable = 300,000

Percentage uncollectible = 10%

Current balance = 2000

Adjustment to allowance for uncollectible accounts is given by :

(Account receivable ×percentage uncollectible) - current balance

(300,000 × 10%) - 2000

(300,000 × 0.1) × 2000

30,000 - 2000 = 28,000

Therefore, adjustment should be :

bad debt expense debit 28,000

allowance for doubful account credit 28,000

6 0
3 years ago
Omar is covered by a disability income policy. he is hurt while performing an occupation more hazardous than the occupation list
Alex73 [517]

I believe the answer is: Reduce the benefit level

If the individual performing an occupation more hazardous than the occupation listed in his policy, The insurance company had the right to perceive that the individual is involving himself in necessary risk, which provide them with a legal ground to reduce his benefit level.

6 0
3 years ago
Each wholesale bag of flour is sold in 25kg bags. Using this information, calculate a new column of data of that works out how m
Sav [38]

Answer:

I know the answer

Explanation:

6 0
2 years ago
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