Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $768,000
Service Charge Expense A/c $32,000
To Accounts Receivable A/c $800,000
(Being the cash is received and the remaining balance is debited to the cash account )
The computation of the service charge expense is shown below:
= Accounts Receivable × service charge percentage
= $800,000 × 4%
= $32,000
Answer:
e. Country B, where education is well-developed and social stratification is lacking.
Explanation:
Country B will be the best option because the population is well-developed in terms of education, so there will be availability of skilled labour for the production plant.
Also lack of social stratification means there is no well-developed social stratification into upper, middle, and lower classes. Success will be due to individual achievement, so the people will be motivated to work hard and exploit the opportunity of growing in the new production plant.
Answer:
B. $19,687 mil
Explanation:
The statutory tax rate is the percentage imposed by law; the effective tax rate is the percentage of income actually paid by an individual or a company after taking into account tax breaks (including loopholes, deductions, exemptions, credits, and preferential rates).
Now, in our question, statutory tax rate is 35%, but effective tax rate is 15%. This implies, with the help of tax breaks or loopholes, company managed to pay only 15% of its income as taxes.
This 15% of income = $2,953 mil
Hence, pretax income = 2,953/15% = $19,686.67 mil = $19,687 mil
Answer:
a. a majority of both shareholders and directors must approve.
Explanation:
Whenever a corporation decides to dispose off all of it's assets or substantially all of it's assets to another corporation, following points are noteworthy
- The Board of directors first have to propose a resolution regarding disposition which has to be approved
- Secondly post approval of the said resolution, the act of "disposition" also requires approval by the corporation's shareholders.
- Such approval must be obtained by majority of the votes cast in it's favor.
In short, disposition of all or substantially all the assets requires an approval of a majority of both shareholders and directors.
The answers are as follows:
1. TRUE.
Shift schedule is a practice used in manufacturing industries to increase the numbers of hours that is used in production process. The shift divides the hours in the day into specific period and assign teams that will work during each period. The shift practice is usually employed in production run in order to ensure efficient use of all resources during the production process. Production run are typically schedule into one or two shifts; which may be during the day alone or during the day and night.
2. FALSE
Hiring the needed complement will eliminate OVERTIME, not the second shift. Hiring the needed complement usually remove the need for all overtime. Hiring the needed complement will make having a second production run team possible and this second team can handle the production process that ought to be done through overtime.
3. FALSE.
It is the duty of the management to strive to DECREASE STAFF TURNOVER.
Staff turnover refers to the rate at which employees are leaving a company and new employees are been absorbed. High staff turnover will make the company to spend more money on resources and training of new staffs.
4. TRUE.
During periods of high demand, production usually increases and more workers are hired. Instead of hiring more workers, a company that has two production shifts may decide to add more workers to the first shift in order to increase the amount of work that could be done. This will result in the decrease in the number of the workers in the second shift.
5. FALSE
Increasing training hours decreases needed complement. Increasing the training hours will equip the workers with the needed knowledge which will make them more effective and productive. This will decreases the complement needed for the production process.
6. RECRUITING COST [B].
In a situation where a company has to hire more workers to the one it already has on ground as a result of increased production, then the company will have to spend extra money in the process of recruiting the needed workers.
7. DECREASE [B]
If the productive index is already at 100%, adding overtime will decreases the productivity index. This is because, overtime has a way of reducing the efficiency and the productivity of the workers, thus decreasing the amount of work done by them.
8. FALSE.
Workers training is entered in hours. The amount of training received by workers are measured in hours. The higher the training hours, the higher the amount of training which a worker has undergone and the higher will be the value of that worker to the company.
9. C
Each company is expected to have a base amount of $1,000 for each new worker that is hired. The company may decide to eliminate all other recruiting costs but this base amount can not be eliminated.
10. SEPARATION COST [C].
Separation cost are incurred when production level decreases and/ or automation level increases.
Separation cost refers to the cost that is needed to lay off an employee from an organisation. When the production level decreases or the company decide to automate their production processes, then some workers will have to be sacked and these workers have to be paid some money before they leave the company. This result in increase in the amount of money that the company will spend on separation cost.
