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3 years ago

The first federal minimum wage was established by the:

Business

1 answer:

maksim [4K]3 years ago

7 0

Answer:

The correct answer is letter "A": Fair Labor Standards Act.

Explanation:

The Fair Labor Standards Act (FLSA) signed in 1938 is a labor law of the United States that rules the minimum wage, overtime pay, record-keeping, and youth employment standards that affect part-time and full-time employees working in local, State and Federal governments.

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Skysong, Inc. began the year 2022 with retained earnings of $670000. During the year, the company sold additional shares of stoc

vlada-n [284]

Answer:

$787,000.

Explanation:

Skysong, Inc. generated a profit of $248,000 (633,000 - 385,000) during the year 2022. This amount has a credit balance in income statement, closing it would require a debit to it and a credit entry to match the debit is made to Retained Earnings account which is an item of Statement of Owners' Equity. Statement of Owners' Equity is a report that represents the Equity section of balance and accounts for any changes in the owners' equity during a period. The items included in this statement are Capital, Paid-up Capital, Retained Earnings, and Drawings. To calculate the ending balance of Skysong's retained earnings, we have to prepare a statement of owners' equity.

Statement of Owners' Equity

Capital Retained Earnings

Opening Balance - $670,000

Additional Stock $1,005,000

Profit for the Year 248,000

Dividends Paid (131,000)

Closing Balance $1,005,000 787,000

⇒ Skysong's retained earnings will be reported at $787,000 at the end of 2022.

7 0

4 years ago

Synovec Corp., which just paid $1.0 dividends per share, is experiencing rapid growth. Dividends are expected to grow at 30 perc

Valentin [98]

Answer:

$54.44

Explanation:

This is the stock of the company that is expected to have multiple growth stages.

In the first phase, company is expted to grow 30% per year, so dividend paid from Year 1 to Year 3 are D_1 = 1.0 x (1 + 30%); D_2 = 1.0 x (1 + 30%)^2 and D_3 = 1.0 x (1 + 30%)^3 respectively.

Dividend in Year 4 is D_4 = D_3 x (1 + 18%).

Dividend in Year 5 is D_5 = D_4 x (1 + 8%).

Terminal value in at Year 4 is T_4 = D_5/(Discount rate - Long-tern growth)

Value of this stock is discounted relevant cashflow from Year 1 to Year 4 (include terminal value).

Putting all the number together, we have intrinsic value of the stock = $54.44

7 0

4 years ago

Imagine that you borrow $1,000 for one year and at the end of the year you repay the $1,000 plus $100 of interest. If the inflat

brilliants [131]

Answer:

Explanation:

Data provided as per the question

Nominal interest rate = 100%

Inflation rate = 7%

The computation of the real interest rate is shown below:-

Real interest rate = Nominal interest rate - Inflation rate

= 10% - 7%

= 3%

Therefore, for computing the real interest rate we simply deduct the inflation rate from the nominal interest rate.

7 0

3 years ago

A financial system or budget in which there is a careful supervision of resources to prevent too much spending or excess is call

notsponge [240]

Answer:

the answer is Economy!

Explanation:

4 0

3 years ago

Eneri Company's inventory records show the following data: Units Unit Cost Inventory, January 1 10000 $9.20 Purchases: June 18 9

Gre4nikov [31]

Answer:

$206,000

Explanation:

Beginning inventory 10,000*9.2 $92,000

Purchases during the month (9000*8+ 6000*7) $114,000

Cost of Goods available for sale $206,000

3 0

3 years ago

Read 2 more answers