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Strike441 [17]
3 years ago
11

Sally received $50,000 of compensation from her employer and she received $400 interest from a corporate bond. What is the amoun

t of Sally's gross income from these items?
A) $400
B) $50,000
C) $50,400
Business
1 answer:
VLD [36.1K]3 years ago
5 0

Answer:

C) $50,400

Explanation:

If Sally received $50,000 of compensation from her employer and she received $400 interest from a corporate bond, then the amount of Sally's gross income from these items is $50,400

Sally's income taxable is not only her employment compensation but also the interest she earns from a corporate bond is subject to income tax.

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kari74 [83]

Answer:

does not allow market forces like supply and demand to determine what how much and at what price they should produce goods

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3 years ago
Colaw Co. pays all salaried employees on a biweekly basis. Overtime pay, however, is paid in the next biweekly period. Colaw acc
fgiga [73]

Answer:

salaries expense   81,000  debit

    salaries payable               81,000 credit

Explanation:

the recurrring salaries for a biwweekly salaries is 270,000

In two weaks assuming five-day work week, there is 10 days.

so we divide to get the expected wages per day the recurring salaries by the amount of days of that period:

270,000 / 10 = 27,000 per day

Then, we multiply by the 3 days from the current period:

27,000 x 3 = <u>81,000</u>

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3 years ago
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Luba_88 [7]

Popularity and warranty

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adelina 88 [10]

Answer:

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Explanation:

The Matching Principle of accounting holds that revenues should be matched with expenses. Hence the name.

This is to say, that revenues should only be recognized when the associated expenses with those revenues have been spent.

For example, in numeral a), we can see that Norfolk Southern Corporation recieved cash in advance, but it only recognized revenue once it had performed the services associated with that cash collection.

4 0
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Managers can be classified in terms of either their level in the organization at which they work and or their area of specializa
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Answer is true.

Managers who are classified in terms of their level in the organization are known by titles such as store manager, assistant manager or co-manager.

Managers who are classified by their area of specialization have titles such as the marketing manager, the accounting manager or the sales manager.

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