Answer:
A. stock value of the company
The statement <u>A. Grayson is underemployed</u> best describes the Grayson's situation.
<u>Explanation</u>:
A person is said to be underemployed if he works for low wage or works for the job that does not make use of his skills.
Underemployment occurs due to excess of labor availability in-spite of work demand. The technological change may also cause underemployment. Underemployment causes due to decline in the economy.
In the above scenario, Grayson was underemployed due to downturn in the economy. He previously worked as a field technician but he was laid off due to decline in economy. Later he was appointed as stock employee at Home Depot.
Answer: b. to adjust for interest earned or fees charged.
Answer:
The Retained Earnings of Wolfpack Construction as of the end of the year will be $12,000.
Explanation:
Wolfpack Construction
Balance Sheets
As of End of Year
Assets $
<em>Current Assets:</em>
Cash 5,000
<em>Fixed Assets:</em>
Land 13,000
Equipment 21,000
<em>Total Assets 39,000 </em>
Liabilities and Stockholders’ Equity
<em>Current Liabilities:</em>
Accounts payable 2,000
<em>Long Term Liabilities:</em>
Notes payable 15,000
<em>Equity:
</em>
Common stock 10,000
Retained earnings 12,000
<em>Total Liabilities and Stockholder's Equity 39,000 </em>
Answer: equivalent units will equal to units started and completed plus work in progress at 50% completion level
Explanation:
The number of equivalent units will be units started on completed during the current Period plus 50% of work in progress. There were no work in progress units at the beginning of the period. The current period's production consist of only units started and completed and work in progress at 50% completion level.
