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raketka [301]
3 years ago
8

Kelsey Gunn is the only employee of Arsenault Company. His pay rate is $23.00 per hour with an overtime rate of 1½ times for hou

rs over 40 in a workweek. For the week ending March 31, 20--, he worked 48 hours. Calculate his gross pay for the week using the overtime premium approach to calculate the overtime pay.
Business
1 answer:
Nikitich [7]3 years ago
5 0

Answer:

His gross pay is $1,196

Explanation:

Pay rate is $23.00 per hour with an overtime rate of 1½ times for overtime, then pay rate for per overtime hour  = $23 * (1+ ½) = $34.5

Kelsey Gunn worked 48 hours, in which 40 hours is in workweek and 8 hours is in overtime

His gross pay = 40 hours * $23.00 per hour + 8 hours  * $34.5 per hour =  40*23 + 8*34.5 = 1,196

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On March 15, American Eagle declares a quarterly cash dividend of $0.075 per share payable on April 13 to all stockholders of re
slava [35]

Answer:

The Journal entries are as follows:

(i) On March 15,

Dividend [0.075×220,000,000] A/c    Dr. $16,500,000

To dividend payable                                                         $16,500,000

(To record the declaration of cash dividends)

(ii) On March 30,

No Journal entry required

(iii) On April 13,

Dividend payable A/c   Dr. $16,500,000

To cash                                                       $16,500,000

(To record the payment of cash dividends for its 220 million shares)

6 0
3 years ago
Company XYY has recently won several bids and is now discussing how to structure the staff so that every contract can be success
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Answer:

Two structures that the company can use:

Functional structure: this is the most common type of organizational structure, and it might be the one that company XYY already uses.

In this structure, the firm is divided among departments that have a specific role, or function.

The most basic division would include a production department, a marketing department, a finance or accounting department, and a marketing department.

Flatarchy: a term that is a combination of the word "flat", and the word "hierarchy", it simply means "flat hierarchy".

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4 0
3 years ago
Read 2 more answers
Corporation M has $40,000 of current earnings and profits and $10,000 of accumulated earnings and profit. During the year Corpor
zzz [600]

Answer:

$40,000

Explanation:

Calculation to determine What amount of capital gain income will N recognize related to this distribution

Using this formula

N Capital gain income=N stock basis- M distribution

Let plug in the formula

N Capital gain income=$100,000-$60,000

N Capital gain income=$40,000

Therefore The amount of capital gain income that N will recognize related to this distribution is $40,000

6 0
3 years ago
The Commonwealth of Virginia filed suit in October 2014, against Northern Timber Corporation seeking civil penalties and injunct
tatyana61 [14]

Answer:

Northern Timber Corporation

1. Journal entries to record the change:

Debit Litigation Liability $1,000,000

Credit Cash $600,000

Credit Litigation Loss $400,000

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2. Northern can restate the 2014 and 2015 Retained Earnings to reflect the change in the litigation loss.

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a) Data and Calculations:

Records of probable loss from ultimate settlement:

2014:

Loss—litigation  1,000,000

Liability—litigation 1,000,000

2016:

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Analysis of Entries:

Litigation Liability $1,000,000

Cash $600,000

Litigation Loss $400,000

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At the start of this year 18 months rent was paid. At the year's end how will this affect the balance sheet
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At the end of the year the item of the prepaid rent which included in the current assets would be decreased by 12 months rent of the year and would be shown the balance of 6 months rent for the coming year
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3 years ago
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