Solution:
The home sells for = $120000
The commission that is paid by the seller is 3 percent
Therefore, commission = 3% of $120000 = $3600
The sales-person is on a 65 percent commission schedule with her broker which means that the saleperson gets the 65 percent amount of the commission.
Thus, the amount which is received by the salesperson from the given transaction is = 65% of $3600 = $2340
Therefore, the salesperson receives $2340 amount from the said transaction.
Answer:
more workers are willing to work as the market wage increases.
Explanation:
IF the labour supply curve is upward sloping, its that means there is a positive relationship between wages and labour supply. The higher the wages, the higher the number of workers willing to work. The lower the wages, the lower the number of workers willing to work
Please check the attached image for a upward sloping labour supply curve
Answer:
Contingent liabilities refer to those obligations which might arise in the near future based upon the happening or non happening of a certain event and it's outcome.
Such liabilities are recorded if there is likeliness of an event happening and when they can be reasonably quantified and estimated.
In the given case, the automobile manufacturer will probably be required to recall it's products. The amount can be estimated.
In such cases, such expense is to be recognized in the income statement and at the same time a liability for such expenses needs to be created in the balance sheet. Product recall refers to replacement of defective products by the manufacturer. It is similar to a warranty.
Reporting on Dec 31 would be as follows,
Warranty Expense A/C Dr. $2.5
To Warranty Liability $2.5
(being product recall liability for for 2.5 million created)
What kind of absurd logic is that?
oh, let me not talk for a few days maybe I might end up sounding like a girl. yeah, good luck with that mate.
All variable costs s<span>hould be subtracted from the sales price per unit to compute the unit contribution margin.</span>
