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2 years ago

A noncomissioned employee in a company, your pay rate is based on

1 answer:

5 0

if you are an employee who is not working on a commission basis, then most likely, you are working as a salary based employee. Your salary would usually be based on your going rate or your market value to the employers. Based on your caliber, the employers will decide what your salary would be. For example, if you are a fresh grad, you will start with an entry level salary while if you are a manager, you will obviously be receiving a higher salary.

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Match each type of tax with an example of its use.

Fofino [41]

Answer:

Excise tax :$0.30 tax on a gallon gasoline

Consumption tax : 20% tax on wages earned

Income tax : 9% tax on the sale of luxuries

Explanation:

Excise tax are the taxes charged to individuals on purchase of certain goods. Excise taxes are included with the price of the product. One of the major excise tax is charged on the gasoline for vehicles.

Consumption tax are the indirect taxes that are charged on usage of goods and services. They are collected in the form of sales tax and value added tax.

Income tax is the tax collected by the government for earning money through business or work.

8 0

2 years ago

Android Products, Inc., agreed to accept a $1,000, one-year, 10 percent note from C. Mate. On its maturity date of December 16,

umka2103 [35]

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $1,100

To Interest revenue $100

To Note receivable $1,000

(Being cash received in respect of note receivable, interest accrual is recorded)

The computation of accrued interest is shown below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)

= 1,000 × 10%

= $100

8 0

3 years ago

Trumbull Company budgeted sales on account of $120,000 for July, $211,000 for August, and $198,000 for September. Collection exp

Andreyy89

Answer:

Total cash receipts 194,760

Explanation:

We will calculate base on the budget number provided.

We will multiply the month sales revenue by the amount expected to be colelcted on september

The receipts from account receivable on september:

60% of previous month:

60% of August: 198,000 = 118,800

36% from the second month:

36% of July: 211,000 = 75,960

Total cash receipts 194,760

5 0

3 years ago

Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a job-order costing system wi

Anna35 [415]

Answer:

the total manufacturing cost assigned to Job P90 is $3,792

Explanation:

The computation of the total manufacturing cost assigned to Job P90 is given below:

But before that the predetermined overhead rate should be calculated

So,

= ($2,800,000 ÷ 200,000) + $2

= $16

Now the total manufacturing cost is

= $1,472 + $1,056 + 79 × $16

= $3,792

hence, the total manufacturing cost assigned to Job P90 is $3,792

5 0

2 years ago

On January 1, Year 1, Greenfield, Inc. issues $100,000 of 9% bonds maturing in 10 years when the market rate of interest is 8%.

ELEN [110]

Answer:

When using a financial calculator to compute the issue price of the bonds, the applicable periodic interest rate ("I") is 3.923%

Explanation:

Hi, first, the discount interest rate that you have to choose is 8%, because 9% is the coupon rate (which in our case would be 9%/2=4.5% and this is used only to find the amount to be paid semi-annually).

Now we know we have to choose 8%, but this is an effective rate (I know this is an effective rate because no units were mentioned), and by definition it is a periodic rate, but it is not the rate that we need since the payments are going to be made in a semi-annual way, therefore we need to use the following equation.

$r(semi-annual)=[1+r(annual)]^{\frac{1}{2} } -1$

So, everything should look like this.

$r(semi-annual)=[1+0.08]^{\frac{1}{2} } -1=0.03923$

Therefore, the periodic interest that yuo have to use to calculate the price of the bond is 3.923%

Best of luck.

8 0

2 years ago