Answer:
A business office is one which is established by the individuals or government for the production and distributions of goods and services with a view of earning money by satisfying the consumers.
Explanation:
They are established by the industrial,trading and service businesses.
Answer:
Journal Entries
Date Accounts Titles Debit Credit
Nov 1 Warranty expense $3,120
($52,000 * 6%)
Estimated warranty payable $3,120
Nov 20 Estimated warranty payable $1,600
Cash $1,600
Dec 31 Vacation benefit expense $6,000
Vacation benefit payable $6,000
Dec 31 Employee bonus expense $1
,515
Employee bonus payable $1,515
<u>Working</u>
Bonus = 3% * (Net income-Bonus)
Let bonus= x
x = 3% * (52,000 - (1+x))
x = 0.03 * (52,000- (1+x))
x = 1560 - 1.03
1.03x = 1560
x = $1,560 / 1.03
x = $1,514.5631
Bonus= $1,515
The valuation of the fringe benefit will be 3600.
<h3>How to calculate the benefits?</h3>
The valuation of the fringe benefit will be calculated thus:
= (2 × miles in each direction) × number of weeks × benefit rate
= (2 × 24) × 50 × 1.50
= 48 × 59 × 1.50
= 3600
In conclusion, the valuation of the fringe benefit will be 3600.
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<span>machine. She uses a simulative approach to increase the effectiveness and efficiency. If Kelly is at the output stage of the process, then she is identifying the inputs utilized in the process for measuring the productivity.</span>
Answer:
The real income increased by $600
Explanation:
Data provided in the question:
Consumer Price Index in year 1 = 120
Consumer Price Index in year 2 = 125
Average nominal income in year 1 = $30,000
Average nominal income in year 2 = $32,000
Now,
We know
Real income = [ ( Nominal income ÷ CPI) ] × 100
Thus,
Real income in year 1 =[ ( $30,000 ÷ 120) ] × 100
= $25,000
Real income in year 2 = [ ( $32,000 ÷ 125 ) ] × 100
= $25,600
Therefore,
The change in real income from year 1 to year 2
= Real income in year 2 - Real income in year 1
= $25,600 - $25,000
= $600
The positive value means an increase
Hence,
The real income increased by $600
