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Ksenya-84 [330]
3 years ago
14

What is the difference between subcontractors and contractors

Business
1 answer:
tino4ka555 [31]3 years ago
6 0

Answer:

here you go

Explanation:

Subcontractor vs Independent Contractor: Everything You Need to Know

Subcontractor vs Independent contractor is a difference in employment relationship with a laborer. 3 min read

Subcontractor vs Independent Contractor

Subcontractor vs Independent contractor is a difference in employment relationship with a laborer. Independent contractors are employed and paid directly by the employer while subcontractors are employed by an independent contractor and are paid by them.

Difference Between Subcontractor and Independent Contractor

Independent contractors labor for themselves, but are employed by an employer to do a project or for a specific period of time. These contractors set their own rates and schedules for labor and payment. Typically, they are paid through the accounts payable department at a company. This independent contractor then employs subcontractors who are paid and controlled by the contractor but who still performs labor for the employer. Independent contractors labor for themselves, but are employed by an employer to do a project or for a specific period of time. These contractors set their own rates and schedules for labor and payment. Typically, they are paid through the accounts payable department at a company. This independent contractor then employs subcontractors who are paid and controlled by the contractor but who still performs labor for the employer. The House of Representatives provides oversight for laws governing these relationships, and details can be found here.

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Glenn sells a piece of equipment used in his business for $31,500 during 2019. The equipment was purchased on July 1, 2017, at a
Schach [20]

Answer:

A gain of $16,100

Explanation:

When the amount received from the disposal of an asset is higher than the carrying value of the asset, the company makes a gain on disposal.

The carrying amount of an asset is the difference between the cost of the asset and the accumulated depreciation of the asset.

Carrying amount

= $22,000 - $6,600

= $15,400

Gain/(loss) on sale of asset

= $31,500 - $15,400

= $16,100

6 0
4 years ago
Gino's Restaurant is a popular resaurant in Boston, Massachusetts. The owner of the restaurant has been trying to better underst
RideAnS [48]

The answer & explanation for this question is given in the attachment below.

 

7 0
3 years ago
A ___________ is a measure that summarizes a particular characteristic of an entire group of numbers.
Harrizon [31]

A statistic is a measure that summarizes a particular characteristic of an entire group of numbers.

Statistics is considered the universal language of the sciences which involves information, numbers, visual graphics in order to summarize information and its interpretation.

Statistics is the science of collecting, interpreting, and describing data. A statistic is any quantity computed from values in a sample which is considered for a statistical purpose.

Statistical measures are a descriptive analysis technique which is used to summaries the characteristics of a data set. This data set represent the whole population or a sample of it.

Hence, a statistic measure summarizes a particular characteristic of an entire group of numbers.

To learn more about the Statistical measures here:

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6 0
2 years ago
University Car Wash built a deluxe car wash across the street from campus. The new machines cost $213,000 including installation
nadezda [96]

Answer:

Please refer explanation and tables attached

Explanation:

1. Double-declining balance Method:

This is where the asset's value is depreciated at twice the rate than the straight line method. The depreciation amounts would be higher in the early years of the asset's life and gradually reduce towards the end. Hence, it does not mean that the depreciation amount would be higher than the straight line basis.

Straight Line depreciation per year = 1/6* x 100 = 16.67%

*as it is useful for six years

Hence double-depreciation value = 16.67% x 2 = 33.34%

It is calculated as depreciation rate x book value of asset at the beginning of the period.

Please refer attached table one for all years depreciation.

2. Activity based depreciation is whereby an asset is depreciated based on the asset’s activity such as the number of hours worked or the number of units produced, during a particular period of time. Activity based depreciation per year is calculated as:

[(Cost - Salvage value) x activity performed during the period] / Total estimated life activity of the asset

Please refer attached table two for all years depreciation.

4 0
4 years ago
LM Products has total assets of $48,900, total debt of $21,750, long-term debt of $18,100, owners' equity of $27,150, dividends
kondaur [170]

Answer:

-$1,908

Explanation:

Current liabilities:

= Total debt - Long term debt

= $21,750 - $18,100

= $3,650

Retained earnings:

= Net income - Dividend

= $5,500 - $1,925

= $3,575

Increase in assets:

= Total assets × Percentage increase in sales

= $48,900 × 4%

= $1,956

Increase in liabilities:

= Current liabilities × Percentage increase in sales

= $3,650 × 4%

= $146

Increase in retained earnings:

= Retained earnings × (1 + 4%)

= $3,575 × 1.04

= $3,718

Therefore,

External financing need:

= Increase in assets - Increase in liabilities - Increase in retained earnings

= $1,956 - $146 - $3,718

= -$1,908

7 0
3 years ago
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