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Natasha_Volkova [10]
3 years ago
5

Every year 3 Managers are promoted to Partner level.

Business
1 answer:
Sophie [7]3 years ago
6 0

Answer: 2 years

Explanation:

Years of existing of the firm=30 years

Number of associates= 300,

Number of Managers= 70;

Number of partners= 30;

Total number of workers=400

Number of years  associates has been changed in last 30 year=30/5=6

Number of years  managers has been changed in last 30 year=30/3=10

Number of times for partner=x

Number of years  partners has been changed in last 30 year=30/x=15

15x=30

x=30/2

x=2 years

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Gannon Company acquired 10,000 shares of its own common stock at $20 per share on February 5, 2014, and sold 5,000 of these shar
DiKsa [7]

Answer:

The credit entry for the issue of 5000 shares is:

Cr Treasury stock                                       $100,000

Cr Paid-in capital from treasury stock          $35,000

Explanation:

The par value of the common stock issue($20 per share) is credited to treasury stock account, while the excess of issue price of $27 over the par value of $20, $7 per share is credited to paid-in capital from treasury stock

The full double entries for the issue of 5000 shares is as follows:

Dr Cash ($27*5000)                                                 $135,000.00  

Cr Treasury stock($20*5000)                                                          $100,000

Cr Paid-in capital from treasury stock($7*5000)                                $35,000

Under International Financial Reporting Standards, the credit entries would be that par value is credited to equity share capital and the excess credited to share premium account.

                                 

3 0
3 years ago
The company employs a single employee who works all five weekdays and is paid on the following Monday. The employee works the en
Oksanka [162]

Answer:

Date             Account                Dr.           Cr.

Dec 30    Wages Expense     4,000

               Wages Payable           4,000

Explanation:

Employee worked the whole week which ended on Friday, December 30. The adjusting entry will require to record the accrued expense at end of the period. As the last day of period is Saturday, December 31 and he will be paid on Monday January 2. The accrual accounting requires to record an expense at the end of the year if it is incurred even if it is not paid yet.

Payroll expense = $800 x 5 days = $4,000

4 0
3 years ago
Consider the following five scenarios related to wage inequality. Please label each with the correct source of the identified wa
iren [92.7K]

Answer and Explanation:

1. Compensating differentials: Riley works a less risky job and is therefore paid less than his twin Rowland who drives Chemicals to and fro and is considered to do a more risky make job

2.talent/ability: Bert has a a natural talent and ability

3.Compensating differentials: Rosalie works harder than Henry and so earns more than him

4.Human Capital: Simon is paid more as he is considered to have more knowledge and experience. He is a masters degree while Denise has a bachelor's degree which is considered lower in valuing human capital in an organization.

5.Talent/ability:Bernice has a natural talent and ability

4 0
3 years ago
Todrick Company is a merchandiser that reported the following information based on 1,000 units sold: Sales $ 300,000 Beginning m
Gala2k [10]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Q=1000

Sales= $ 300,000

Beginning merchandise inventory= $20,000

Purchases= $200,000

Ending merchandise inventory= $7,000

Fixed selling expense= $ ?

Fixed administrative expense= $12,000

Variable selling expense= $15,000

Variable administrative expense= $ ?

Contribution margin= $60,000

Net operating income= $18,000

First, we have to calculate the variable administrative expense:

Contribution margin= sales - cost of goods sold - variable selling expense - variable administrative expense

60000= 300000 - (beginning inventory + purchase - ending inventory) - 15000 - variable administrative expense

variable administrative expense= 300000 - (20000+200000-7000)-15000-60000

variable administrative expense= $12000

Now, we can calculate the fixed selling expense:

Net operating income= contribution margin - fixed selling expense - fixed administrative expense

18000= 60000 - fixed selling expense - 12000

fixed selling expense= 60000-12000-18000

fixed selling expense= 30000

A)Sales= 300,000

Variable costs:

Cost of good sold= 213,000

Variable selling expense= 15,000

Variable administrative expense= 12,000

Total variable cost= 240,000

Contribution margin=$60,000

Fixed costs:

Fixed selling expense= 30,000

Fixed administrative expense= 12,000

Total fixed cost= $42,000

Net profit= $18,000

B) Revenue= 300,000

COGS= 213,000 (-)

Gross porfit= 87000

Selling expense= (30000+15000)= 45,000

Administrative expense= (12000+12000)= 24,000

EBITDA= 18,000

C) Selling price per unit= 300,000/1000= $300

D) Variable cost per unit= total variable cost/q= 240000/1000= $240

E) Contribution margin per unit= 60000/1000= $60

F) The contribution format income statement, because you can easily analyze the effect of each unit in the cost structure and net income.

6 0
3 years ago
Eight years ago you borrowed $142,000 at a fixed annual rate of 10.5 percent p.a. to buy a house. Your loan is a 30-year, monthl
Law Incorporation [45]

Answer:

   Payoff=\$131,338.81

Explanation:

Except for other fees or interests that you might owe, the<em> payoff </em>should be equal to the debt balance. Then, assuming no other fees or interests that you might owe, you just must calculate the balance of your debt after 112 payments (11 years, not 8).

There is a very important formula to calculate the outsdanging balance of a loan, whithout calculating the complete sheet of all the monthly payments:

       balance=Loan\times \dfrac{[(1+r)^n-(1 + r)^m]}{[(1+r)^n-1]}

Where:

  • balance is the outstanding balance after m months
  • r i s the fixed monthly rate: 10.5%/12 = 0.105/12
  • n is the number of total months of the loan: 30years × 12month/year = 360 months
  • m: 112

       balance=\$142,000\times \dfrac{[(1+(0.105/12))^{112}-(1 + (0.105/12))^{112}]}{[(1+(0.105/12))^{360}-1]}

      balance=\$131,338.81

3 0
3 years ago
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