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expeople1 [14]
3 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]3 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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Tetious Dimensions is introducing a new product and has an expected change in net operating income of $790,000. Tetious Dimensio
saveliy_v [14]

Answer:

$620,000

Explanation:

to determine the net cash flow generated by the project, we can use the indirect method to determine cash flows:

net income = $790,000 x (1 - 30%) =               $553,000

net income adjustments:

  • depreciation expense                              $190,000
  • increase in accounts payable                   $42,000
  • increase in accounts receivable             ($79,000)
  • increase in inventory                              <u>  ($86,000) </u>

Project's cash flow                                           $620,000

                                       Without the          With the         change

                                       project                  project

Accounts receivable     $5,000                  $84,000        $79,000

Inventory                     $98,000                 $184,000        $86,000

Accounts payable       $75,000                  $117,000        $42,000

6 0
3 years ago
Do you believe self-regulatory practices are sufficient without governmental regulation to protect consumers? If not, what type
kaheart [24]

Self-regulatory practice is like serving Lion 50gms of meat after 10 days without any protection.It will go for a kill and Government intervention is highly required. Buying consumer goods,land and property, corporation and technology and locomotive.It is for working class, middle class , lower middle class.

Explanation:

  • Self-regulatory is related to one human mind taking decision.
  • In psychology it was always proven each human behavior.
  • Is  to dominate the other human irrelevant of there kindness.
  • Business run by single owner mostly dont pay suppliers, employees well.
  • If government steps in policies could be balanced for all the people.
  • Government works on decision by multiple people.It does not...
  • Single mind taking a decision.Consumers are cheated most of the time.
  • Regulators body  taking steps to curb the owners of business.
  • Example Ray kroc shuck hands with real owners of MC donalds that....
  • He would give royalty on a yearly basis but there was no paper work.
  • Of Government just a handshake they never got Royalty.
6 0
3 years ago
The reporting of financial conditions at the corporation so that can be evaluated. b. Legal protections for shareholders so that
gogolik [260]

Answer:

a) Financial Statements

b) Limited Liability

Explanation:

a) The reporting of financial conditions at the corporation so that it can be evaluated, is the aim of preparing <em>financial statements. </em>Financial statements<em> </em>are periodic reports prepared monthly or annually to show the financial health of a company. They are made up of the statement of profit or loss, statement of financial position, cash flow statements and statement of changes in equity.

b) Legal protections for shareholders so that they are not taken advantage of is the purpose of limiting the liability of shareholders. Limited liability relates to a shareholder's financial liability being limited to a fixed amount not exceeding his investment in the company or partnership. Nevertheless every shareholders is liable for his own actions personally.

6 0
2 years ago
The acronym now, when used by financial institutions, stands for ________ and is a type of interest-bearing checking account.
ololo11 [35]

The answer is negotiable order of withdrawal or short for the acronym NOW. The acronym NOW, when it is used in terms of financial institutions, in stands for Negotiable Order of Withdrawal, it is a type of interest-grossing checking account wherein a patron or customer is allowed to create drafts against cash held on deposit or in short words, the owner of the account can write an unlimited amount of checks for drafts or to be used.

5 0
3 years ago
Which of the following are miscellaneous taxes?
777dan777 [17]

Answer:

A) Hunting license fees

B) License plate fees

D) Marriage license fees

Explanation:

A miscellaneous tax is any tax levied other than incomes taxes or transfer taxes (e.g. excise taxes including sales and gasoline taxes, real estate transfer taxes, estate taxes, gift taxes). Transfer taxes are paid when the ownership of a property (including goods and services) is transferred from one person to another.

Sales taxes and gasoline taxes are both excise taxes, therefore they fall under the category of transfer taxes.

Inheritance taxes are called estate taxes, which also fall under the category of transfer taxes.

6 0
2 years ago
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