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expeople1 [14]
4 years ago
6

M Corp. has an employee benefit plan for compensated absences that gives each employee 15 paid vacation days. Vacation days can

be carried over indefinitely. Employees can elect to receive payment in lieu of vacation days. At December 31, 2021, M's unadjusted balance of liability for compensated absences was $28,200. M estimated that there were 200 total vacation days available at December 31, 2021. M's employees earn an average of $141 per day. In its December 31, 2021, balance sheet, what amount of liability for compensated absences is M required to report
Business
1 answer:
Irina-Kira [14]4 years ago
3 0

Answer: $28,200

Explanation;

There are 200 vacation days available as at December 31, 2021.

The liability compensated absences will be the amount that M Corp. owes employees should they take those 200 vacation days.

= 200 * 141 per day

= $28,200

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Identify which of the following statements are true for the corporate form of organization. (You may select more than one answer
Likurg_2 [28]

Answer:

a) Ownership rights cannot be easily transferred. - True

b) Ownership rights cannot be easily transferred.  - False

c) Owners have unlimited liability for corporate debts.  - False

d) Capital is more easily accumulated than with most other forms of organization.  - True

e) Corporate income that is distributed to shareholders is usually taxed twice.  - True

f) It is a separate legal entity. It has a limited life.  - False

g) Owners are not agents of the corporation. - True

Explanation:

A corporation is an organization established by the issuance (and purchase) of shares. It is identified as a separate legal entity from the owners and the liabilities of the owners is limited to the amount invested (in form of shares or stock). Ownership rights can easily be transferred through various means. One of such means is the sale of shares or stock in the secondary market.

The company pays company income tax on income earned while the shareholders (owners) also paid tax on dividend income. It has an unlimited life and is expected to continue to perpetuity.

The board of directors, managers of the company are the agents of the corporation acting on behalf of the owners.

5 0
3 years ago
Bello, Inc., has a total debt ratio of .31.
lutik1710 [3]

Answer:

a. Debt Equity ratio is calculated by dividing long term Debt by total equity of the company.

b.Equity Multiplier or P/E ratio=Market value per share/Earning per share.

Explanation:

a. Debt Equity ratio is calculated by dividing long term Debt by total equity of the company. The Debt Equity ratio can be calculated using the Market value of debt or equity. It can also be calculated using the book values of debt or equity which are included in the balance sheet of the company.

b. Equity multiplier is also known as price /earning ratio. A price/earnings ratio or P/E ratio is the ratio of the market value of a share to the  annual earnings per share. For every company whose shares are traded on a  stock market, there is a P/E ratio. For private companies (companies whose shares are not traded on a stock market) a suitable P/E ratio can be selected and  used to derive a valuation for the shares.

Equity Multiplier or P/E ratio=Market value per share/Earning per share.

4 0
3 years ago
What is the first step creating a budget
juin [17]

The first step is to find out how important a plutocrat you make each month. You’ll want to calculate your net income, which is the quantum of plutocrats you earn lower levies. still, anyhow if you’re part-time or full-time, the quantum listed is likely your net income If you admit a regular stipend through your employer.

Keep in mind that if you’re enrolled in a health insurance plan, flexible spending account (FSA), and/or a retirement account through your employer, the money is often automatically withdrawn from your paycheck. You’ll want to subtract those deductions to make sure you have a clear picture of your take-home pay.

If you freelance, are self-employed, or simply don’t receive a regular paycheck, you’ll need to subtract taxes from your income amount. The self-employment tax rate is 15.3%, according to the IRS. You can use this TaxAct calculator to estimate how much taxes you’re required to pay in a year. Then you can divide by 12 to get a monthly estimate.

What is a flexible spending account (FSA)?

A flexible spending account (FSA) is a type of savings regard that provides the account holder with specific duty advantages. An FSA is occasionally called a “flexible spending arrangement” and can be established by an employer for workers. The account allows you to contribute a portion of your regular earnings; employers also can contribute to workers’ accounts. Distributions from the account must be used to repay the hand for good charges related to medical and dental services.

Learn more about flexible spending accounts (FSA) visit: brainly.com/question/20388870

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7 0
2 years ago
A company has decided to discontinue a component of its business but, when the reporting period ends, the component has not yet
azamat

Answer: income from operations for the year and the amount by which the component’s fair value less cost to sell is less than book value

Explanation:

Discontinued operations is simply and accounting term which means the parts of the core business of a company that have either been shut down or divested.

With regards to the question, the amount that the company would report as income from discontinued operations would be the income or loss that was gotten from operations, that is revenues, the expenses, gains and the losses and the impairment loss.

Therefore, the correct answer will be option B "Income from operations for the year and the amount by which the components fair value less cost to sell is less than the book value".

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3 years ago
What do you think of when you hear the word geography?
professor190 [17]
physical properties of Earth's surface and the human societies spread across it.
6 0
3 years ago
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