The option that's true about Padraig’s gross pay and total employee benefits is "His total employee benefits are 12.5% of his annual gross pay of $64,000"
His annual gross pay is $64,000, his employment benefits will be:
= 12.5% × $64000
= 12.5/100 × $6400
= 0.125 × $64000
= $8000
Therefore, the annual compensation will be:
= $64000 + $8000
= $72000
In conclusion, the correct option is C.
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When you receive a loan, the money the lender gives you is called the LINE OF CREDIT. Answer B.
Answer:
On November 27
Debit Retained earnings $12,750
Credit Dividend payable $12,750
<em>(To record the dividend declared)</em>
On December 24
Debit Dividend payable $12,750
Credit Cash $12,750
<em>(To record dividend paid) </em>
Explanation:
- Dividends on gains on shares bought by the shareholders. They arise due to appreciation in share price and improvement in company's net income.
- The dividend payable was calculated as $.5 x 25,500 shares = $12,750.
- Dividends are usually paid out of retained earnings.
- The dividend payable account is debited when payment is to be made.
Explanation:
Win-win approach to reward
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