<span>The natural rate of unemployment will drop in this instance. By increasing spending and/or decreasing taxes, aggregate demand is boosted, leading to more people being employed to meet the demand. This moves the natural rate of employment out to a greater level than previously experienced.</span>
Because Chuck filed a claim to get overtime pay, he will most likely will get the overtime based on his average hourly rate and the average number of hours he worked over the allotted 40 hours per week.
Overtime payment refers to a compulsory payment that must be paid to an employee that work outside the official work hours.
- The overtime provisions are provided by the Fair Labor Standards Act (FLSA).
So, he will get the overtime based on his average hourly rate and the average number of hours he worked over the allotted 40 hours per week.
Therefore, the Option A is correct.
Missing word includes <em>"A. Chuck will get overtime based on his average hourly rate and the average number of hours he worked over the allotted 40 hours per week. B. Chuck will get one set amount for overtime based on the industry standard for similarly situated executives In his field. C. Chuck will not get overtime pay because he an executive who earns more than $100.000 a year. D. Chuck will be paid overtime wages because Dewey. Inc., is a private business pe here to search"</em>
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Answer:
$11,230
Explanation:
The city of Springvale imposed a net income tax on all businesses
Each business will make a payment of 1% for any amount up to $100,000 and 1.5% for any amount above $100,000
The net income generated by Springvale Bar and Grill is
= $782,000- $100,000
= $682,000
Therefore, it's city income tax is calculated as follows
(1/100+100,000) + ( 1.5/100+682,000)
( 0.01+100,000) + ( 0.015+682,000)
= 1000 + 10,230
= $11,230
Hence, Springvale Bar and Grill will pay a net income tax of $11,230
Answer:
The deferred value of the tax is $3,768
Explanation:
As per the book, the debt is given as 2% of the Credit sales thus
Credit sales * 2% = 678000 * 2% = $13,560
As per the data, the write off for the tax payment is given as
Actual write off = $1,000
Now the tax rate is given as 30%
So the deferred tax asset is given as
Deferred tax asset for 20x1 =(Debt-Writeoff)*Rate
Deferred tax asset for 20x1 = (13560 - 1000) * 30% = $3,768
Deferred tax asset for 20x1 = $3,768
Answer:
Journal entries will be as follows;
Explanation:
1.The machine purchased is an asset so machinery a/c will be debited.
The cash used to purchase the machine is an outflow so it's credited on the cash a/c
2. Electricity wiring on the machine is part of the acquisition cost, hence we debit machinery account and the cash paid for that is credited on cash a/c
3. Cost of securing it in place is also an operating cost hence you debit machinery a/c and credit the cash used to pay for it in the cash a/c
<u>Journal entries</u>
1. Machinery account Dr 192,000
Cash account Cr 192,000
2.Machinery account Dr 8,000
Cash account Cr 8,000
3.Machinery account Dr 1,600
Cash account Cr 1,600
