What is VISA? Is it a bank?

Explain why two employees at a company, earning the same gross pay, might have different net pays.

larisa [96]

Answer:

see below

Explanation:

Two employees with the same gross pay will have different net pay because of differences in deductions. Net pay is the amount that reflects in the employee's bank account after all deductions. Involuntary deductions are mandatory and comprise statutory deductions such as social security, medicare, taxes, or others prescribed by the state or the courts. To a large extent, employees with similar gross pay will have the same statutory deductions.

Voluntary deductions are employee-initiated. They include mortgages, retirement plans, medical, life assurance, dental, and general insurance. These deductions are not uniform. Each employee will have a different amount deducted depending on their preferences. Voluntary deductions contribute significantly to two employees with the same gross pay to have different net pay.

5 0

4 years ago

Vibrant Company had $970,000 of sales in each of three consecutive years 2016–2018, and it purchased merchandise costing $535,00

Leni [432]

Answer:

Explanation:

From the give information; we are to:

1. Determine the correct amount of the company’s gross profit in each of the years 2016–2018.

The correct amount of the company's gross profit in each of the years 2016 - 2018 can be seen as computed in the table below.

VIbrant Company Income statement

2016 2017 2018

Sales 970,000 970,000 970,000

-

Cost of good

sold:

Beginning 270,000 270,000 270,000

Inventory

+

Purchase 535,000 535,000 535,000

The cost of good

available for sale 805000 805000 805000

is:

-

Ending Inventory 270,000 270,000 270,000

Cost of good sold 535,000 535,000 535,000

Gross Profit 435 000 435000 435000

N:B ;

Gross Profit = Sales - Cost of good sold

Gross Profit = 970000- 535000

Gross Profit = 435000

2. Prepare comparative income statements to show the effect of this error on the company's cost of goods sold and gross profit for each of the years 2016−2018.

For 2016; the comparative income statement is computed as follows:

Debit Credit

Sales 970000

Less:(-)

Cost of good sold

Beginning Inventory 270000

Add Purchase 535000

Cost of goods available 805000

for sale

Less (-)

Ending Inventory 250000

Cost of good sold 555000

Gross profit 415000

For 2017; the comparative income statement is computed as follows:

Debit Credit

Sales 970000

Less:(-)

Cost of good sold

Beginning Inventory 250000

Add Purchase 535000

Cost of goods available 785000

for sale

Less (-)

Ending Inventory 270000

Cost of good sold 515000

Gross profit 455000

For 2018; the comparative income statement is computed as follows:

Debit Credit

Sales 970000

Less:(-)

Cost of good sold

Beginning Inventory 270000

Add Purchase 535000

Cost of goods available 805000

for sale

Less (-)

Ending Inventory 270000

Cost of good sold 535000

Gross profit 435000

8 0

3 years ago

City residents were recently surveyed about issues of importance in their neighborhoods. Most agreed that crime was a big concer

Feliz [49]

Having more police around would decrease the crime rates because the criminals would either be scared of getting caught or would attempt and get caught.
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Therefore, your answer would be
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D. City residents will support mayoral candidates who propose increasing the size of the police force.
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Hopefully, that helped!

8 0

3 years ago

Read 2 more answers

Why are more people using honey today than in previous years?

Anarel [89]

During time, honey was the most appreciated sweetener, was called the nectar of gods and was used in many ways. As the population increased, sugar took place to honey. But the sugar is not so healthier like honey is. Honey contains important B-complex vitamins, several minerals and amino acids, besides, honey has many flavors. On the other hand, it not at all cheaper than sugar.

So your answer is B and C

7 0

3 years ago

A(n) ___________ is the development of a product that is closely related to one or more products in the existing product line bu

Nutka1998 [239]

Answer:

b) line extension

Explanation:

this is definition so I can't tell you any clearer.

if you wish to deeper on what is line extension, I suggest you to read more in this link https://en.wikipedia.org/wiki/Product_line_extension

5 0

4 years ago