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Olenka [21]
3 years ago
13

Lois and Peggy are the only two accountants at a construction company. They split the accounting work in the company according t

o their preferences. They also split the salary, which is actually a single senior accountant's salary, equally between the two of them. In the context of employee benefits, this scenario best exemplifies _______.
Business
1 answer:
9966 [12]3 years ago
3 0

Answer:

A job-sharing plan.

Explanation:

Job sharing is a kind of adaptable work plan in which two individuals work part-time timetables to finish the work one individual would do in a solitary all day job.

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The statement that reports net income or loss for a certain period in time is the
Mars2501 [29]

Answer:

The correct answer is: Income statement.

Explanation:

The Income Statement is a report that measures a company's financial performance over a specific accounting period. This statement is also known as the Profit and Loss Statement and Earnings Statement. The Income Statement shows a company's <em>revenues, expenses, net profit, </em>and <em>net loss</em> from both operating and non-operating activities.

8 0
3 years ago
Johnson Company calculates its allowance for uncollectible accounts as 10% of its ending balance in gross accounts receivable. T
Margaret [11]

Answer:

<em>Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"</em>

1. Gross accounts Receivable = Allowance Account balance at beginning / 10%

= $30,000 / 10%

= $300,000

2.     Year   Account Title                              Debit     Credit

       2021  Bad debt expense                   $105,000

                  ($500,000*10% + $55,000)  

                         To Allowance for Doubtful Accounts   $105,000

3.  Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account

= $30,000 - (- $50,000)

= $30,000 + $50,000

= $80,000

4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000

4 0
3 years ago
A rich relative has bequeathed you a growing perpetuity. the first payment will occur in a year and will be $ 3 comma 000$3,000.
MAVERICK [17]
A. For knowing today's value of the bequest we need to know the period of time.
When the first payment occure and how many payments were made. 
b. Immediate value of bequest is $3,000 After one year it needto be 1.16*3,000=$3,480 Plus the second payment will be 1.04*3,000=$3,120
8 0
3 years ago
On January 1, 2020, National Retail purchased $100,000 of GEH Company bonds at a discount of $10,000. The GEH bonds pay 6% inter
rusak2 [61]

Answer:

Cr Interest revenue $3,624

Explanation:

Dr Investment in bonds 100,000

    Cr Cash 90,000

    Cr Discount on investment in bonds 10,000

the first coupon payment:

(90,000 x 4%) - $3,000 = $600

Dr Cash 3,000

Dr Discount on investment in bonds 600

    Cr Interest revenue 3,600

the second coupon payment:

(90,600 x 4%) - $3,000 = $624

Dr Cash 3,000

Dr Discount on investment in bonds 624

    Cr Interest revenue 3,624

4 0
3 years ago
Do women spend more time talking on the phone than​ men? a student collects data from students at her university and reports a​
zalisa [80]

<u>Answer</u>:

<u>No</u>

Explanation:

Remember, that as used in statistics the Confidence intervals <em>only</em> ascertain the extent to which a sample is uncertainty or certainty, that is, the student report of a​ 90% confidence interval is just a probability the university population of men and women surveyed would fall under this range of value ​(minus 150,30).

Therefore, it cannot be concluded that mu​(women) is higher than mu​(men.

3 0
3 years ago
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