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alexandr402 [8]
3 years ago
9

A company pays its employees $4,000 each Friday, which amounts to $800 per day for the five-day workweek that begins on Monday.

If the monthly accounting period ends on Thursday and the employees worked through Thursday, the amount of salaries earned but unpaid at the end of the accounting period is:
Business
1 answer:
Sever21 [200]3 years ago
8 0
I would say $800 since the unpaid amount is for the whole month and weekly they are paid on Friday so they would only be out the one day or the $800. In other words, for a month or if that is 4 weeks exactly they would get paid 4 x 4000=16000-800 = $15,200 on the Thursday.
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LIFO uses the ______ unit costs for Cost of Goods Sold on the income statement and the ______ unit costs for Inventory on the ba
Tasya [4]

LIFO uses the last unit costs for Cost of Goods Sold on the income statement and the first unit costs for Inventory on the balance sheet.

<h3>What is LIFO?</h3>

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

For example, if beginning inventory consists of 10 units at $10 per unit. In the middle of the month, 10 units were bought at $15 per unit. At the end of the month, 10 units were sold. Using LIFO, the cost of goods sold would be $150 ( 10 x 15). Ending inventory would be $100 ($10 x 10).

To learn more about LIFO, please check: brainly.com/question/13779572

3 0
2 years ago
Select the correct point on the graph. Which point on the graph indicates the lowest quantity supplied of goods? 9.00 8.00 Price
disa [49]

Answer:

It would be A

Explanation:

3 0
2 years ago
Archie Co. purchased a framing machine for $45,000 on January 1, 2021. The machine is expected to have a four-year life, with a
k0ka [10]

Answer: $10,000 and $25,000

Explanation:

DEPRECIATION FOR 2022.

Straight line method of depreciation means it depreciates by the same amount every year. You can calculate by

(Cost - Residual Value) / useful life.

=($45,000 - $5,000) / 4

= $10,000.

Each year the framing machine reduces by $10,000 meaning in 2022 the depreciation will be $10,000.

BOOK VALUE AT DECEMBER 31, 2022

We've established that every year the value drops by $10,000.

On December 31, 2021, it dropped by $10,000.

On December 31, 2022, it dropped by another $10,000.

Adding that together gives you 10,000 + 10,000 = $20,000.

$20,000 is the total depreciation at the end of 2022.

Subtract that figure from the cost,

=$45,000-$20,000

=$25,000.

BOOK VALUE ON DECEMBER 31, 2022 is $25,000.

8 0
3 years ago
Tim, who works for Peachtree Realty, referred a buyer to a broker who works for Pinetop Realty. The referring agent is to receiv
IrinaK [193]

Answer:

$1,312.50

Explanation:

Calculation for How much was the referring agent paid

First step is to find the buyer agent amount by using the buyer's agent percentage to multiply the buyer purchased amount of the home

Using this formula

Buyer agent amount =Buyer's agent percentage× Home purchased amount

Let plug in the formula

Buyer agent amount=1.5%×$350,000

Buyer agent amount=$5,250

The last step is to find How much was the referring agent paid

Using this formula

Amount referring agent paid =Buyer agent amount× Percentage of buyer side commission

Let plug in the formula

Amount referring agent paid=$5,250×25%

Amount referring agent paid=$1,312.50

Therefore the amount that the referring agent paid will be $1,312.50

5 0
3 years ago
Some recent financial statements for Smolira Golf Corp. follow:
nalin [4]

Answer:

1. The company's profit margin is 13.4% percent.

profit margin = net income / net sales = $45,064 / $336,329 = 13.4%

2. The total asset turnover is 0.82 times.

asset turnover ratio = net sales / average assets = $336,329 / [($387,891 + $432,000)/2] = $336,329 / $409,945.50 = 0.82

3. The equity multiplier is 1.7 times.

equity multiplier = average total assets / average total equity = $409,945.50 / [($205,936 + $275,000)/2] = $409,945.50 / $240,468 = 1.70

4. Using the Du Pont Identity, the company's ROE is 18.68% percent.

ROE = profit margin x asset turnover x equity multiplier (or financial leverage) = 0.134 x 0.82 x 1.7 = 0.1868 = 18.68%

4 0
3 years ago
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