Answer:
$51,200
Explanation:
Gross income computation includes all forms of income such as wages, rents, royalties, dividend etc. However, gifts and inheritances are not considered as a part of the gross income.
Therefore, Sandy's gross income consist of her salary, and the interest income
Sandy's Gross income = 50000 + 1200
= $51,200
The inheritance of her grandmother's estate and car gift are not included as a part of Sandy's gross income.
Answer:
There are four major OMEs manufacturer trucks for the North American market
Answer: contingent
Explanation: It refers to the employment in which the job of an individual is not fixed with the company. In case of contingent employment, the employees are usually hired when there is a specific project to complete that needs extra work force.
Unlike seasonal employment the these employments are non recurring and there is no time fixed for employment that an individual could expect.
Thus, from the above we can conclude that the given case is an example of contingent employment.
Answer:
the yearly depreciation expense is $5,500
Explanation:
The computation of the yearly depreciation expense using the straight line method is as follows;
= (Purchase cost - salvage value) ÷ (estimated useful life)
= ($24,000 + $800 + $1,200 - $4,000) ÷ (4 years)
= ($26,000 - $4,000) ÷ (4 years)
= $22,000 ÷ 4 years
= $5,500
hence, the yearly depreciation expense is $5,500
Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a (n) <u>accounting process</u>.
The accounting process is the set of steps that allows the economic operations of an entity or company to be expressed through financial statements.
This process is essential for any company since they will be able to see their expenses and income, and thus make projections and help it to minimize entry errors of the company.
- During the accounting process, the economic operations of the company are compiled (purchases of materials, sales of products), together with the documents that guarantee each operation.
- Finally, before the accounting process is closed, adjustments or modifications can be made that allow a reliable balance.
Therefore, we can conclude that Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a (n) accounting process.
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