Answer:
The retained earnings of Amos company for the year ended 31st December 2017 is $1,016,400.00
Explanation:
In calculating retained earnings for 2017, I began with prior year retained earnings of $866,000,deducted depreciation net of taxes not recorded previously.
After,having adjusted retained earnings for prior year, I added net income for the year 2017 of $216,000
Finally,I deducted dividends paid during 2017 of $25000 to arrive at closing retained earnings for 2017 as shown in the attached.
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Answer:
C. Part-time employees should be compensated with an hourly wage
because the number of hours they may work each month
changes
<u>Multiple-choices</u>
employee is compensated?
A. Part-time employees should be compensated with a salary
because the number of hours they may work each month
changes
O
B. Part-time employees should be compensated with an hourly wage
because the number of hours they work each month is always the
same.
O
C. Part-time employees should be compensated with an hourly wage
because the number of hours they may work each month
changes
O
D. Part-time employees should be compensated with a salary
because the number of hours they work each month is always the
same.
Explanation:
Part-time workers are called to duty on a need basis. Usually, part-time workers are assigned specific tasks to perform is within a particular duration. Their contribution is measured in terms of hours worked or completed units of output.
Part-time workers contrast with full-time workers who report for duty every working day. Part-time workers are not required to work for certain hours per week or month like full-time workers. The number of hours that a part-time worker works in a week varies from time to time. Therefore, the best way of compensating them is through an hourly rate.
Answer:
The correct answer is a) Physical space for the gallery.
Explanation:
<u>Variable costs</u> fluctuate according on the production of goods of a company, while <u>fixed costs</u> stay the same regardless of the production output. Reviewing all the options:
- Wages paid to three part-time employees <u>vary</u> depending on the amount of hours they work.
- Accountant's fees for preparing tax returns <u>vary</u> depending on the time spent preparing the records.
- The costs of purchasing art work to sell in the gallery <u>vary</u> depending on the amount of art purchased and its value.
That leaves us with option A. The physical space for the gallery. Buildings and rent are known to be a Fixed cost for companies because they stay the same regardless of the production output.