All categories

3 years ago

When you hire an employee, he or she must complete Form I-9. This form

Business

1 answer:

Wittaler [7]3 years ago

3 0

Answer:

When you hire an employee, he or she must complete Form I-9. This form verifies that the employee is legally eligible to work in the United States.

Explanation:

One must fill Form 1-9 for every employee hired after November 6, 1986. The employee can be hired to perform labor and service in return for some ind of payment in the form of wages and other forms of remuneration. Remuneration can be described as anything that can be valued that is given as a trade for labor and services provided.

All employees have to complete section 1 of the form at the time of hire. The time of hire is the time that the worker starts employment; they are eligible for remuneration. Section 2 has to be completed withing three business days from the time of hire. For example, if one gets hired on Tuesday, then he/she must fill Section 2 by Friday.

Some scenarios occur when the employee is hired for less than three days. In such cases, Section 1 and 2 have to be completed on the day of hire. This generally means that if one gets hired on a Monday, then they have to complete Section 1 and 2 on the same day.

You might be interested in

On January 1, 2005 Franz Company purchased a truck that cost $22,000. The truck had an expected useful life of 5 years and a $4,

allochka39001 [22]

Answer: The amount of depreciation expense recognized in 2006, using the double declining balance method is $5,280.

And the journal entries required are:

Debit Depreciation expense $5,280

Credit Accumulated depreciation $5,280

Explanation: The double-declining method is otherwise known as reducing balance method. It is usually derived by using the formula below:

Double-declining depreciation = 2 X SLDP X BV

Where SLDP = straight-line depreciation percentage

BV = Book value of the asset (Cost minus depreciation)

So using the straight-line depreciation method, we need to remove the salvage value from the cost and then divided by 5 years. That is, ($22,000 - $4,000) / 5 years = $3,060 yearly depreciation expense.

However, under the double-declining method, we need to divide the 100% by the useful life of the asset first to get the SLDP then multiply by 2, that is, 100%/5 years = 20% x 2 = 40%.

So 40% x $22,000 in year 1 (December 31, 2005) is $8,800

In year 2 (December 31, 2006), 40% x $13,200 ($22,000 - $8,800) = $5,280 and so on. The depreciation expense would stop immediately it falls below the salvage value of $4,000.

So the book value of the asset at the end of year 2 is $7,920 ($13,200 - $4,000 accumulated depreciation).

5 0

3 years ago

Read 2 more answers

Barry joined the military after high school, where he learned how to maintain and fix airplanes. Now he does similar work for a

Studentka2010 [4]

The answer is B - this is how Barry splits his time.

8 0

3 years ago

Eugene Co. has inventory it purchased for $6,000. It sells the inventory to a customer for $10,000, including installation. Inst

Scrat [10]

Answer:

The necessary entries would be:

Dr Accounts receivable $11,000

Cr Sales revenue $10,000

Cr Deferred revenue $,1000

Explanation:

Revenue should be recognized in the books of account where the selling party has performed its obligation of delivering goods or rendering services as contained in the sales contract.

This contract contains provision of goods -inventory that have been delivered and rendering of services-installation that is in progress, as a result the revenue relating to the former is due to be recognized now while the later would be recognized when is installation is concluded.

5 0

3 years ago

Read 2 more answers

The epa is planning to stiffen the requirements for cleaning pollutants from the stacks of? coal-fired electricity generating? p

IgorLugansk [536]

<span>With respect to organizational change, this would also represent a change in the type of waste machines that are used in the Industry. Since the EPA is targeting a 30% reduction of waste generated by coal-fired powerplants, the manufacturing industries are now required to adapt the new method that is establish to minimize carbon footprint.</span>

8 0

3 years ago

Consider a portfolio comprised of four risky securities. Assume the economy has three states with varying probabilities of occur

olga nikolaevna [1]

Answer:

B. The portfolio expected rate of return must be the same for each economic state.

Explanation:

Variance formula = sum of (probability x (r - mean)^2)

r= expected return

if the expected return would be same for each economic state then the mean would equal to expected return which ultimately will give variance zero ( as r-mean would be 0).

Hence the correct option is B. The portfolio expected rate of return must be the same for each economic state.

8 0

3 years ago