Leslee is a loan processor who is not required to perform her duties at the direction of or subject to the supervision. Leslee is an independent contractor.
An independent contractor is a self-employed person who is contracted in order to perform work for or provide services to another entity as a non-employee. Thus, independent contractors are not employees, nor are they eligible for employee benefits.
Here, as Leslee is a loan processor, so she is not required to perform her duties at the direction of or subject to the supervision and instruction of an individual who is licensed. As she is an independent contractor.
Hence, companies may also hire an independent contractor to do a job.
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Answer:
correct option is b
Preferred Stock for $2,500,000 and Paid-in Capital in Excess of Par Value—Preferred Stock for $500,000
Explanation:
given data
issues = 50,000 shares
preferred stock = $50 par value
cash = $60 per share
Cash = $3,000,000
solution
here entry will be as
Journal Entry are
Cash = 50000 × $60 = $3000000
cash = $3000000 Dr
and
Preferred Stock = 50000 × $50 =
Preferred Stock = $2500000
so
Paid-in Capital in Excess of Par Value - Preferred Stock = 50000 × (60-50)
Paid-in Capital in Excess of Par Value - Preferred Stock = $500000 credit
so
correct option is b
Preferred Stock for $2,500,000 and Paid-in Capital in Excess of Par Value—Preferred Stock for $500,000
Answer:
D. Cannot be determined given the information provided.
Explanation:
The accounting equation deals with the 3 elements of the balance sheet namely; assets, liabilities and equity and the relationship between them as shown below.
Assets = Liabilities + Equity
Given;
Total asset = $288,000
Equity = Retained earnings + common stock
= 40,000 + 100,000
= $140,000
Liabilities = $288,000 - $140,000
= $148,000
Liabilities include; Notes Payable 88,000, Salaries Payable ? Accounts Payable ?
Since the Salaries Payable and Accounts Payable are not known, the right option is D. Cannot be determined given the information provided.
Answer: The answer is A.
Explanation: The student was given admission to Oxnard University. and he was admitted unconditionally .
Answer:
Explanation:
Purchase of a bond is an investment. Interest paid every six months is known as a coupon payment.
Profit or loss = (Income from sale + coupons)- original price
In 18 months, the investor would receive income from the sale of the bond($9,500) in addition to the three-six month coupons payments amounting to = $300 * 3 = $900
Profit or loss = ($9,500 +$900) - $10,000
Profit or loss = $10,400 - $10,000
Profit = $400