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tresset_1 [31]
4 years ago
14

You have just taken a job as an entry-level manager for a company that provides rug-cleaning services. The company has a large n

ational presence, with offices in 40 U.S. states. You know you are starting at the bottom of the management ladder, but you hope to grow and rise through the ranks to become a senior manager. What is your likely salary range when you first take the job?
Business
1 answer:
Aleks [24]4 years ago
4 0

Answer:

$35,000 - $60,000

Explanation:

First, the Multiple Options

$35,000-$60,000

$80,000-100,000

$26,000-29,000

$45,000-120,000

$14,000-20,000

Premises for Assumption and Choice

The first premise is that the job is entry level while the second premise is that the job is that of a manager. The third and final premise is that the rug-cleaning service is a big company with national presence across 40 U.S.states.

With these premise in mind, first, managers' salaries are usually higher than  normal workers, as such, it should be higher than $14,000-$20,000 for a start. Secondly, because the job is entry level the salary range is not expected to be as high as senior managers or even middle level managers. Middle level managers should earn about $45,000-$120,000 while high level managers should earn $80,000 - $200,000.

Finally, since it is a large conglomerate, the salary range will be higher than $26,000 - $29,000 which may be an appropriate range for low-level managers in a smaller conglomerate.

This leaves the $35,000 - $60,000 salary range for the job

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A company uses the retail method to estimate inventories. The following information is for the first six months of the current y
Tanya [424]

Answer:

The correct answer is $240,000.

Explanation:

According to the scenario, given data are as follows:

Beginning inventory at cost = $70,000

Beginning inventory at retail = $100,000

Net purchases at cost = $270,000

Net purchases at retail = $360,000

Total sales = $320,000

According to the LIFO method.

Particulars                        Cost                       Retail              Cost/Retail Ratio

Beginning inventory             $70,000                $100,000                     70%

Net purchases                      $270,000              $360,000                     75%

Total Inventory                     $340,000             $460,000

Total sales                                                       $320,000

Ending inventory ( Estimated )

($360,000-$320,000)× 75%  $30,000

$70,000 × 70%                      $70,000

Ending inventory at cost         $100,000

Estimated cost of goods sold   $240,000.

Hence the correct answer is $240,000.

7 0
3 years ago
Paid-ln Capital:
Firdavs [7]

Answer:

a. General Journal:

Date     Description                            Debit            Credit

Feb. 6  

Stock Dividend (Retained earnings) $15,000

Stock Dividend Payable                                         $15,000

To record the declaration of 5% stock dividend or new 1,500 shares

Feb. 15

Stock Dividends Payable                 $15,000

Common Stock                                                     $15,000

To record the distribution of the stock dividend

July 29:

Treasury Stock                                $17,000

Paid-in Capital in Excess of Par    $28,900

Cash Account                                                      $45,900

To record the repurchase of 1,700 shares of treasury stock at $27 each.

Nov. 27:

Cash Dividend                                $2,980

Dividend Payable                                                 $2,980

To record the declaration of a $0.10 per share cash dividend on 29,800 common stock shares outstanding

b. Retained Earnings Statement for the year ended December 31, 2016:

Retained Earnings b/f       $161,000

Dividends (stock)                 (15,000)

Dividends (cash)                   (2,980)

Ending balance                

c. Stockholders' Equity Section of the Balance Sheet at December 31, 2016:

Paid-in Capital:

Common Stock—$10 Par Value; 350,000 shares

authorized, 31,500 shares issued and outstanding :  $315,000

Treasury Stock, 1,700 shares                                           (17,000)

Paid-ln Capital in Excess of Par—Common                    281,100

Total Paid-in Capital                                                        579,100

Retained Earnings                                                          143,020

Total Stockholders' Equity                                          $722,120

Explanation:

a) Stock Dividend:  5% of stock outstanding was 1,500 (30,000 x 5%).  The effect of the stock dividend is to increase the Common Stock shares from 30,000 to 31,500 shares.  This is also reflected in the Common Stock account at the par value of $10, totalling $15,000 (1,500 x $10).  This is because the market value of $27 per share does not involve any cash flows for the entity, but an inflow for the stockholders who decide to sell their shares at that point.  The Retained Earnings is also reduced by $15,000, just as it is in the case of cash dividend.

b) Paid-in Capital in Excess of Par:

beginning balance     $310,000

Treasury stock             (28,900)

ending balance          $281,100

This account reflects the changes in Treasury stock above and below the par values.  It is also used to record the above and below the par values when shares are issued.

c) Treasury Stock:  This is a contra account to the Common Stock.  It records the repurchase of entity's own stock.  Two methods are allowed for accounting for treasury stock.  One is the par value method, where the differences in par value are recorded in the Paid-in Capital in Excess of Par.  The other method is the costing method, where the differences in par value are recorded in the Treasury stock account.

4 0
4 years ago
What is negative communication from citizens​
vesna_86 [32]

bad words,  bad language, mean insults, talking nasty.

8 0
3 years ago
Ferris owns an apartment in an apartment complex. The apartment-complex rules require the owner of each apartment to maintain it
lara31 [8.8K]

Answer:

Correct option is (d)

Explanation:

Creditor beneficiary is a party who is entitled to enjoy the benefits of the contract that has been put in place. They are not actively involved in the contract but are entitled to receive the benefit of contract executed by the promisor.

In this case, Erica is a third party creditor beneficiary for whom Ferris is legally obligated to perform his duties as the rules require owner to maintain the apartment which Ferris failed to oblige. So, Ferris breached contractual obligation to her.

3 0
4 years ago
Which sentence describes the human resources department? Marcos works in the human resources department of a company. He builds
nexus9112 [7]

I think the first sentence

8 0
4 years ago
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