Answer:
Journal entry to record accrued wages on December 31, 202x
Dr Wages expense 1,260
Cr wages payable 1,260
Journal entry to record wages expense on Friday, January 2
Dr Wages expense 840
Cr wages payable 840
Journal entry to record payment of wages on Monday, January 5
Dr Wages payable 2,100
Cr Cash 2,100
Answer:
10%
25.14 years
Explanation:
A financial calculator can be used to solve these problems
PMT = $-1,100
PV = $5,355.26
FV = 0
N = 7
Compute I = 10%
PMT = $-25,000
FV = $1,387,311
I = 6%
PV = 0
Compute N = 25.14 years
Contact the credit card company. Communication is key. As long as she does not have a habit of being late, they may offer her a grace period.
Answer:
a - Advantage
b - Advantage
c - Advantage
d - Advantage
e - Disadvantage
f - Advantage
g - Advantage
Explanation:
To begin with, most of the statements are advantages of the corporate form of business due to the fact that they describe and show how that type on entity has better ways to run business when it comes to comparing with other forms. Therefore that the fact of having ownership and management separated allows the business to have a better organization when it comes to the decision making process. Also the fact that stockholders' liability is limited so they do not are in danger beyond their participation in the company and so on with the other statements. The only statement that show a disadvantage is the one that states that the corporate form is exposure to double taxation so that implicates to pay more taxes and that generate money issues for the company.
Th increase in Gerald's income is a problem because the percentage increase in his income is lower than the increase in inflation. This means that the purchasing power in Gerald's income is lower.
Inflation is when the general price levels in an economy rises. Inflation reduces the purchasing power of money. The inflation rate in the US in 2020 was 1.2%.
Let us assume that Gerald's income is $1000.
After the raise, his income becomes: (1.02 x 1000) = $1020
As a result of the inflation, the increase in income needed to keep purchasing power constant is: (1.03 x $1000) = $1030.
The increase in Gerald's income is less than the inflation rate. This means that the purchasing power of Gerald would be lower.
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