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pav-90 [236]
3 years ago
6

. George worked 52 hours last week. In his job, any hour past 40 hours is considered overtime. His overtime pay is 1.5 times his

hourly rate, which is $22.50. What was his net income for last week?
Business
1 answer:
stiks02 [169]3 years ago
3 0
Find how much time he worked overtime.
52-40=12
Find his overtime salary.
22.5*1.5=33.75
Calculate how much money he makes for 40 hours.
40*22.5=900
Calculate how much money he made in overtime.
33.75*12=405
Add both earnings together.
900+405=1305

George earned 1305$ last week.
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Equity Method for Stock Investment On January 4, Year 1, Ferguson Company purchased 108,000 shares of Silva Company directly fro
r-ruslan [8.4K]

Answer:

a)

January 4, year 1, investment in Silva Company (36% of outstanding stocks)

Dr Investment in Silva Company 5,184,000

    Cr Cash 5,184,000

July 2, year 1, distributed dividends ( $292,000 x 36%)

Dr Cash 104,400

    Cr Investment in Silva Company 104,400

December 31, year 1, net income reported by Silva Company ($971,000 x 36%)

Dr Investment in Silva Company 349,560

    Cr Revenue from investment in Silva Company 349,560

b)

Balance of Investment in Silva Company = $5,184,000 - $104,400 + $349,560 = $5,429,160

Explanation:

Since Ferguson exercises significant influence over Silva Company, they must record the investment using the equity method.

7 0
3 years ago
These items are taken from the financial statements of Windsor, Inc. at December 31, 2017.
nordsb [41]

Answer:

To make balance sheet we first have to calculate net income/net profit for the year.

<em><u>Net profit Calculation</u></em>

Service revenue            $ 13,524

Insurance expense        ($     718 )

Depreciation expense   ($ 4,876)

Interest expense           ($ 2,392)

Profit                              $ 5,538

<em><u></u></em>

Balance Sheet

Asset

Non-Current Asset

Land                                                            $56,304                                                            

Buildings                                                     $97,336

Accumulated depreciation—buildings      ($41,952)

Equipment                                                   $75,808

Accumulated depreciation—equipment   ($17,222)

Total non Current Asset                            $170,274

Current Asset

Cash                                                              $10,893

Accounts receivable                                    $11,592

Prepaid insurance                                         $2,944

Current Asset                                               $25,429

Total Asset                                                   $195,703

Equity

Common stock                                              $55,200

Retain Earning (36,801+5,538)                     $42,339

Total Equity                                                   $97,539

Liability

Non-Current Liability

Current Liability

Accounts payable                                           $8,740

Notes payable                                                $86,112

Interest payable                                               $3,312

Total Current Liability                                  $98,164

Total Liability + Equity                                $195,703

5 0
3 years ago
The most noticeable difference between common-law and code-law systems is found in the laws governing _____.
Elis [28]

The laws governing intellectual property are where common-law and code-law systems most obviously diverge. 

<h3>What is intellectual property ?</h3>

The collection of intangible assets that a company or person possesses and is legally entitled to guard against illegal use or application by third parties is referred to as intellectual property.

The concept of intellectual property was developed on the premise that some works produced by the human mind should be afforded the same legal protections as material possessions.

Hence, the difference between common-law and code-law systems is found in the laws pertaining to intellectual property.

Learn more about Intellectual property here:

brainly.com/question/17348419

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6 0
1 year ago
A stock split: increases the total value of the common stock account. decreases the value of the retained earnings account. does
yarga [219]

Answer:

decreases the total owners' equity on the balance sheet.

Explanation:

Company's board of director decisions to increase the number of outstanding shares, by issuing more shares to current share holders : is referred to as Stock Split.

Stock Split decision effects the stock prices. It leads to decreased stock prices, as the number of outstanding shares has increased. The fall in price of stock : leads to reduced value of share capital, which is a part of Equity. So, it finally decreases the total owners equity on balance sheet

3 0
3 years ago
Innovative Creations Corporation is designed along functional lines. New product development is very slow and the process is pla
fenix001 [56]

Answer:

A) Coordiantion, is the correct option

Explanation:

Bad coordination in a company leads to a decrease in productivity. Coordination between departments is important, lack of it may have adverse effects may it be sales of production. The functional and management training imparted by the company is a way to make the teamwork in coordination so the operation of the business is smooth. The solution to the communication gap is to have open system communication with all the departments, interdepartmental communication is very very crucial.

5 0
2 years ago
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