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loris [4]
3 years ago
5

Hiring employees from outside the host country is an option many companies take when the local labor market does not offer enoug

h qualified people. True False
Business
1 answer:
Alinara [238K]3 years ago
6 0

Answer:

True

Explanation:

Some countries are known to have people with special skills and competences that may not be available to others.

Hence where a company sees that the skills and competence required may not be adequately available in  the local market, the company has the option of hiring employees from outside the country.

This may however be at a cost higher than the cost that would have been incurred if the company had hired the employee from the host country.

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Embree Corp. purchased a four-year insurance policy on May 1, Year 2, for $12,000, effective immediately. The company expensed t
BlackZzzverrR [31]

Answer:

a. Debit to Prepaid Insurance of $10,000

* Option for this question was missing so I have attached a similar question with this answer and answered accordingly.

Explanation:

Insurance purchased for four years was actually prepaid insurance on May 1, Year 2.

The company expensed all amount by positing following entry ( which is a wrong entry)

DR.   Insurance Expense  $12,000

Cr.    Cash                          $12,000

It should be entered as follow:

DR.   Prepaid Insurance   $12,000

Cr.    Cash                          $12,000

At the end of the year 2 8 months has been passed for which $2,000 is accrued and it will be recorded, as all the amount is charged to the expense account we will adjusted the remaining amount of $10,000 to correct this mistake.

Now at the end of year 2 the correct entry which will settle the expense and prepaid insurance as well is as follow.

DR.   Prepaid Insurance   $10,000

Cr.    Insurance Expense  $10,000

6 0
3 years ago
A buyer submits an offer to purchase to the listing agent. He finds out that more than several offers are coming in for the same
zmey [24]

A buyer submits an offer to purchase to the listing agent. He finds out that more than several offers are coming in for the same property. He can expect that all offers will probably be presented at the same time, and the seller will select among them.

Explanation:

In certain situations buyers have to consider multiple rival purchase deals. Sellers will deal with different deals in several ways.

Sellers should consider the "highest" bid; warn all potential buyers that other deals are "at the table;" they can "compare" one offer by put the another offer on the side pending a counter-offer vote, or they can "fight" one offer and refuse the other.

The various bargaining tactics that you can use in multiple deals agreements are advantages and disadvantages. The low initial bid may lead to the purchase of the property you want for less than the quoted price, or may lead to the acceptance of a higher offer from another bidder.

3 0
3 years ago
Answer the following questions using the information below: Cannady produces six products. Under their traditional cost system u
vampirchik [111]

Answer:

Given this change in the cost, the adequacy and quality of the estimated cost drivers and costs used by the system will determine the costing results for SR6 under the new system.

Explanation:

A cost driver can be described as the unit of an activity or any factor that makes the cost of an activity to fluctuate. An estimated cost driver is adequate and of the expected quality when quality or quantity is satisfactory or acceptable.

Therefore, given this change in the cost, the adequacy and quality of the estimated cost drivers and costs used by the system will determine the costing results for SR6 under the new system.

8 0
2 years ago
During the course of your examination of the financial statements of the Hales Corporation for the year ended December 31, 2021,
Natasha2012 [34]

Answer:

adjusting entries:

a. An insurance policy covering three years was purchased on January 1, 2021, for $6,600. The entire amount was debited to insurance expense and no adjusting entry was recorded for this item.

Dr Prepaid insurance 4,000

    Cr Insurance expense 4,000

b. During 2021, the company received a $850 cash advance from a customer for merchandise to be manufactured and shipped in 2022. The $850 was credited to sales revenue. No entry was recorded for the cost of merchandise.

Dr Sales revenue 850

    Cr Unearned revenue 850

c. There were no supplies listed in the balance sheet under assets. However, you discover that supplies costing $900 were on hand at December 31.

Dr Supplies 900

    Cr Supplies expense 900

d. Hales borrowed $25,000 from a local bank on October 1, 2021. Principal and interest at 12% will be paid on September 30, 2022. No accrual was recorded for interest.

Dr Interest expense 750

    Cr Interest payable 750

e. Net income reported in the 2021 income statement is $40,000 before reflecting any of the above items.

net income after adjustments = $40,000 + $4,000 - $850 + $900 - $750 = $43,300

4 0
3 years ago
During 2018​, Doug incurs the following deductible​ expenses:
Alexus [3.1K]

The amount of Doug's taxable income is <u>$27,700</u>.

<u>Explanation</u>:

<u><em>GIVEN</em></u>:

AGI = $35,000

State income​ taxes = $2300

Local property taxes = $3000

Medical expense = $800

Charitable contribution = $2000

Total deduction amount= State income​ taxes+Local property taxes+Charitable contribution

                                        = 2300+3000+2000

                                        = $ 7300

Total deduction amount= $7300

Taxable income= $35000- $7300

                         = $27,700

The amount of Doug's taxable income is <u>$27,700</u>.

3 0
2 years ago
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