The correct statement is : ( B ) Workers needed fair compensation for their labor.
<h3>Reason for the establishment of the federal minimum wage </h3>
The federal minimum wage was established to protect workers by providing fair compensation for their labor and establishing a
standard of living. The federal minimum wage was first introduced to cushion the effect of the post -depression era.
Hence we can conclude that the correct statement is Workers needed fair compensation for their labor.
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<span> The </span>income statement<span> reports revenues and expenses and the resulting </span>net income
Answer:
1. Values of assets:
Land improve = $295,000
Land = $878,368
Building = $6,175,500
Equipment = $304,200
Furniture/fixture = $88,200
2. Interest expenses = $505,428
Explanation:
See the attached file for the calculation
Answer:
The Journal entry is as follows:
Cash A/c Dr. $2,27,500
Loss on sale of Receivables A/c Dr. $20,500
Due from Commercial Factor A/c Dr. $10,000
To Recourse liability $8,000
To Accounts Receivable $2,50,000
(To record the sale)
Working notes:
Cash received
:
= $250000 - Finance Charge - Amount retained (Due from factor)
= $250000 - 5% of 250000 - 4% of 250000 = 250000 - 12500 - 10000
= $2,27,000
Loss on sale of receivables
:
= ($250000 × 5%) + Recourse obligation (as the factoring is with recourse)
= $12500 + 8000
= $20,800
Employee classifications identify employees who are exempt from requirements set by the Fair Labor Standards Act (FLSA) and determine the benefits they receive. You may have heard the terms “full-time” and “part-time” before, but there are even more employee classifications that involve jobs that offer varying compensation, duration and work hours.
When applying for jobs, paying attention to employment classification can guide you to the career that provides you the work-life balance and compensation you need. In this article, we explore a list of different employee classifications to help you decide which might be right for you
There are a number of classifications into which an employee might fall. These classifications include: Full-time, Part-time, Temporary, Intern and Seasonal. Employees are usually classified based on the hours worked, the expected duration of the job, and the job duties..
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