Answer:
C) Recurrent Disability provision
Explanation:
The human body is a fantastic machine but sometimes when you have health problems they don't show up immediately.
For example you might get hit on the right side of your head severely and lose partial hearing from your right ear, but in a couple months you might notice that your short term memory has also been affected. Both disabilities were caused by the injury although one showed up before the other.
The insurance company has to provide the disability benefits without a new elimination period under the recurrent disability provision.
Answer:
(a) $500
(b) $620
(c) $180
(d) $72
Explanation:
Explicit costs refers to the which are incurred during running the business and these costs affects the profitability of the company.
Implicit costs refers to the opportunity cost of selecting some other alternative.
(a) Here, the explicit cost is the cost of purchasing materials = $500
(b) If I rent an electric saw, then the explicit cost is as follows:
= Purchasing cost of material + (Rent × No. of hours to build ramp)
= $500 + ($20 × 6 )
= $500 + $120
= $620
(c) If I use a handsaw, then the implicit cost is as follows:
= Hours to build ramp × A job pays $12 per hour
= 15 × $12
= $180
(d) If I rent an electric saw, then the implicit cost is as follows:
= Hours to build ramp × A job pays $12 per hour
= 6 × $12
= $72
Answer:
July 1
No Entry
Sep 1
Dr Cash $2,000
Dr Accounts Receivable $400
Dr Cost of goods sold $1,100
Cr Inventory $1,100
Cr Unearned Service Revenue $554
Cr Sales Revenue $1,846
Oct 15
Dr Cash $400
Dr Unearned Service Revenue $554
Cr Service Revenue $554
Cr Accounts Receivable $400
Explanation:
Preparation of the journal entries for Geraths in 2020.
July 1
No Entry
Sep 1
Dr Cash $2,000
Dr Accounts Receivable $400
($2400-$2000)
Dr Cost of goods sold $1,100
Cr Inventory $1,100
Cr Unearned Service Revenue $554
($600/$600+$2000*$2400)
Cr Sales Revenue $1,846
($2,000/$600+$2000*$2400)
Oct 15
Dr Cash $400
($2400-$2000)
Dr Unearned Service Revenue $554
Cr Service Revenue $554
($600/$600+$2000*$2400)
Cr Accounts Receivable $400
($2400-$2000)
Answer:
employment at will
Explanation:
According to my research on different employee responsibilities, I can say that based on the information provided within the question the company can state that the layoffs were instances of employment at will. This is because the employees were only showing up when it suited them, which is not part of their contract, the employees need to show up to work on time based on their work schedule.
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