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vivado [14]
4 years ago
11

In order to improve the cash flow of the company, neal emerald decided to postpone depositing all employment taxes a few months

ago. he told his sales manager, " i’ll pay up before the irs catches up with me." what risks does emerald face by not upholding his responsibility for the collection and payment of employment taxes? is this ethical if he indeed does pay before he gets caught? why or why not?
Business
1 answer:
jok3333 [9.3K]4 years ago
5 0

The correct answer to this open question is the following.

No, it is not ethical.

The risks that Emerald faces by not upholding his responsibility for the collection and payment of employment taxes is that, first of all, this is not correct. He has an obligation, a moral and a fiscal obligation to report on time the employment taxes. That is why his actions are not ethical although he indeed does pay before he gets caught. That decision could be a business decision to buy some time and trying t fix other problems, but a true leader does not need to cover things with wrongdoings. What can of example is he showing to his employees?

Later on, on another occasion, he won't have the moral authority to demand ethical behavior from his employees. He is not setting an example.

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Bill marks up his goods 38% on cost. A Nikon camera cost Bill $410. What is Bill's selling price? (round to the nearest cent)
mezya [45]

Answer:

$565.8

Explanation:

Selling price is equal to cost price plus mark-up

In this case:

Cost of the Nikon camera is $410

The preferred mark-up is 38%

Actual markup is 38% of $410

=38/100 x $410

=0.38 x  $410

=$155.8

Selling price = $410 + $ 155.8

=$565.8

6 0
4 years ago
Bob Knox is paid on a piece-rate basis. He is paid 30 cents for each unit he produces. For overtime work, he receives in additio
Tresset [83]

Answer:

Bob Knox will be paid $598.5 for 45 hours worked.

Carson Morris will be paid gross pay $903.1 for 50 hours worked.

Explanation:

Bob Knox is paid on piece-rate basis, which means he will be paid based on the units he produced. To calculate his pay

1,890 units × $0.3 = $567

$567 ÷ 45 hours worked = $12.6 per hour

To calculate his overtime pay we multiply by 0.5 because he is paid one half of regular pay as overtime.

$12.6 per hour × 0.5 = $6.3 per hour

$6.3 per hour × 5 hours overtime = $31.5

$31.5 + $567 = $598.5.

Carson Morris is paid average rate basis for overtime. His pay will be calculated as follows,

( 36 hours × $16.00 per hour) + (14 hours × $17.50 per hour ) = $821 for (36 + 14) 50 hours.

$821 ÷ 50 hours = $16.42 per hour

$16.42 × 0.5 = $8.21 per hour

$8.21 per hour × 10 hours overtime = $82.10

=$82.1 + $821 = $903.1

3 0
4 years ago
Consistently the investment target of pension funds, publicly traded real estate companies, and real estate funds, large commerc
iogann1982 [59]

Answer:

investment-grade property

Explanation:

Investment-grade property are properties that have a high degree of public and consumer appeal. They are properties that every institutional investors will want to have in its portfolio. The attraction of Investment-grade property may be the quality, size, location, scarcity of such in the location, proximity to valued infrastructure or public utility e.t.c. Investment grade property are more valued than those that are not graded.

3 0
3 years ago
When using the accounting equation, recording the purchase of equipment for cash would include an increase to the (Cash/Equipmen
Fiesta28 [93]

Answer:

Equipment account increases , and cash decreases with same amount

Explanation:

In the case of acquisition of a new equipment , the equipment account is debited (increase) while the cash account is credit with the same amount of money used for the purchase .

Purchase of an equipment is a balance sheet item , which means it is recorded in the balance sheet and not the income statement as it is not an expense.

The asset register must also be updated with the value of the newly acquired item

7 0
3 years ago
Arkansas Corp. is preparing its statement of cash flows using the indirect method. It provides the following information about t
givi [52]

Answer:

C. ​$(44 comma 000​)

Explanation:

The computation of cash flow from investing activity is shown below:

Purchase of equipment for cash ($63,000)

Sale of equipment ($19,000)

Net cash flow from investing activity = - $63,000 + $19,000 = - $44,000

In this activity, the purchase of fixed assets should be negative as it is an outflow of cash whereas the sale of fixed assets should be positive as it is an inflow of cash.

7 0
3 years ago
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