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mylen [45]
3 years ago
13

After nearly 20 years with his company, Mike's job was outsourced. He wants his new job to offer not only a good wage but also j

ob satisfaction and a sense of accomplishment. He is focused on the:
Business
1 answer:
olga55 [171]3 years ago
8 0

Answer:

intrinsic rewards

Explanation:

In this scenario, it seems that Mike is focused on the intrinsic rewards of his job. These are rewards that come from within the employee themselves. For example, an employee who is motivated is working for his/her own satisfaction and finds meaning in their challenging work, which in term is the intrinsic reward. In this case, the job satisfaction and sense of accomplishment are the intrinsic rewards that Mike wants from his job.

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The unadjusted trial balance of PS Music as of July 31, 2016, along with the adjustment data for the two months ended July 31, 2
Masja [62]

Answer:

PS Music

1. End of Period Spreadsheet

13 Income Summary (Temporary accounts)

14 Fees Earned                      21,200.00

15 Wages Expense                 2,940.00

16 Office Rent Expense         2,550.00

17 Equipment Rent  Expense  1,375.00

18 Utilities Expense                 1,215.00

19 Music Expense                  3,610.00

20 Advertising Expense       1,500.00

21 Supplies Expense               925.00

22 Insurance Expense           225.00

23 Depreciation Expense        50.00

24 Miscellaneous Expense 1,855.00

Statement of Retained Earnings (Temporary accounts)

11 Retained Earnings

12 Dividends                       1,750.00

Balance Sheet (Permanent accounts)

1 Cash                                       9,945.00

2 Accounts Receivable            4,150.00

3 Supplies                                   275.00

4 Prepaid Insurance                2,475.00

5 Office Equipment                 7,500.00

6 Accumulated Depreciation

-Office Equipment                                          50.00

7 Accounts Payable                                  8,350.00

8 Wages Payable                                          140.00

9 Unearned Revenue                              3,600.00

10 Common Stock                                   9,000.00

11 Retained Earnings

2. PS Music

Income Statement for the year ended July 31, 2016

14 Fees Earned                                        $21,200.00

15 Wages Expense               $2,940.00

16 Office Rent Expense         2,550.00

17 Equipment Rent  Expense  1,375.00

18 Utilities Expense                 1,215.00

19 Music Expense                  3,610.00

20 Advertising Expense       1,500.00

21 Supplies Expense               925.00

22 Insurance Expense           225.00

23 Depreciation Expense        50.00

24 Miscellaneous Expense 1,855.00   $16,245.00

Net income                                             $4,955.00

Statement of Retained Earnings for the year ended July 31, 2016

11 Retained Earnings

Net income                      $4,955.00

12 Dividends                       1,750.00

Retained Earnings          $3,205.00

Balance Sheet as of July 31, 2016

1 Cash                                       9,945.00

2 Accounts Receivable            4,150.00

3 Supplies                                   275.00

4 Prepaid Insurance                2,475.00

Current assets                                            $16,845.00

5 Office Equipment                 7,500.00

6 Accumulated Depreciation       (50.00)    $7,450.00

Total assets                                               $24,295.00

Liabilities

7 Accounts Payable                8,350.00

8 Wages Payable                        140.00

9 Unearned Revenue            3,600.00   $12,090.00

10 Common Stock                 9,000.00

11 Retained Earnings             3,205.00    $12,275.00

Total liabilities and equity                       $24,295.00

3. A. Closing Journal Entries:

14 Debit Fees Earned $21,200.00

13 Credit Income Summary $21,200.00

To close the Fees Earned to Income Summary.

13 Debit Income Summary $16,245.00

Credit:

15 Wages Expense                 2,940.00

16 Office Rent Expense         2,550.00

17 Equipment Rent  Expense  1,375.00

18 Utilities Expense                 1,215.00

19 Music Expense                  3,610.00

20 Advertising Expense       1,500.00

21 Supplies Expense               925.00

22 Insurance Expense           225.00

23 Depreciation Expense        50.00

24 Miscellaneous Expense 1,855.00

To close the expenses to the Income Summary.

13 Debit Income Summary $4,955.00

11 Credit Retained Earnings $4,955.00

To close the net income to retained earnings.

11 Debit Retained Earnings $1,750.00

12 Credit Dividends $1,750.00

To close the dividends to retained earnings.

B. Posting the closing entries:

14 Fees Earned

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                                    21,200.00

Income Summary                 21,200.00

15 Wages Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   2,940.00

Income Summary                                       2,940.00

16 Office Rent Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   2,550.00

Income Summary                                       2,550.00

17 Equipment Rent  Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   1,375.00

Income Summary                                       1,375.00

18 Utilities Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   1,215.00

Income Summary                                       1,215.00

19 Music Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   3,610.00

Income Summary                                       3,610.00

20 Advertising Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   1,500.00

Income Summary                                       1,500.00

21 Supplies Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                       925.00

Income Summary                                        925.00

22 Insurance Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                      225.00

Income Summary                                       225.00

23 Depreciation Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                         50.00

Income Summary                                       50.00

24 Miscellaneous Expense

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                     1,855.00

Income Summary                                      1,855.00

11 Retained Earnings

ACCOUNT TITLE                         DEBIT    CREDIT

Income Summary                                    4,955.00

Dividends                                 1,750.00

Balance                                   3,205.00

12 Dividends

ACCOUNT TITLE                         DEBIT    CREDIT

Balance                                   1,750.00

11 Retained Earnings                               1,750.00

4. Post-Closing Trial Balance

August 1, 2016

ACCOUNT TITLE                         DEBIT    CREDIT

1 Cash                                       9,945.00

2 Accounts Receivable            4,150.00

3 Supplies                                   275.00

4 Prepaid Insurance                2,475.00

5 Office Equipment                 7,500.00

6 Accumulated Depreciation

-Office Equipment                                          50.00

7 Accounts Payable                                  8,350.00

8 Wages Payable                                          140.00

9 Unearned Revenue                              3,600.00

10 Common Stock                                   9,000.00

11 Retained Earnings                               3,205.00

Total                                    24,345.00 24,345.00

Explanation:

a) Data and Calculations:

PS Music

ADJUSTED TRIAL BALANCE

July 31, 2016

ACCOUNT TITLE                         DEBIT    CREDIT

1 Cash                                       9,945.00

2 Accounts Receivable            4,150.00

3 Supplies                                   275.00

4 Prepaid Insurance                2,475.00

5 Office Equipment                 7,500.00

6 Accumulated Depreciation

-Office Equipment                                          50.00

7 Accounts Payable                                  8,350.00

8 Wages Payable                                          140.00

9 Unearned Revenue                              3,600.00

10 Common Stock                                   9,000.00

11 Retained Earnings

12 Dividends                            1,750.00

13 Income Summary

14 Fees Earned                                     21,200.00

15 Wages Expense                 2,940.00

16 Office Rent Expense         2,550.00

17 Equipment Rent  Expense  1,375.00

18 Utilities Expense                 1,215.00

19 Music Expense                  3,610.00

20 Advertising Expense       1,500.00

21 Supplies Expense              925.00

22 Insurance Expense           225.00

23 Depreciation Expense        50.00

24 Miscellaneous Expense 1,855.00

25 Totals                           42,340.00 42,340.00

4 0
3 years ago
Suppose that Steve heads to the local hamburger shop with $3, expecting to spend $2 for his favorite burger and $1 for French fr
PtichkaEL [24]

Answer:

Income effect

Explanation:

The effect is because the customer purchasing power has been changed due to which he is now able to buy more to fulfill his needs and wants. The income effect occurs due to two reasons.

Number 1. The real income of the person has been increased which means his purchasing power has been increased. This means previously you were earning $2000 a month and now you are earning $10000 a month. Now you can buy New Iphone every month because your real income has been increased and this has increased your purchasing power.

Number 2. The price of the product has been fallen and now it is in range of the purchasing power of the customer. This means that if Iphones 11 are available at $100 then everybody buy Iphone 11. This is because the product is in the range of purchasing power of greater number of customers.

5 0
3 years ago
My boss really does not understand the technical aspects of the job my group is trying to complete. I understand the intricacies
dimaraw [331]

I have emerged as the team leader

4 0
3 years ago
The restaurant sector continues to grow despite the hurting economy.<br><br> O True<br><br> O False
Mkey [24]

Answer:

True.

Explanation:

^^

5 0
2 years ago
Bouchard Company's stock sells for $20 per share, its last dividend (D0) was $1.00, and its growth rate is a constant 6 percent.
Delicious77 [7]

Answer:

The answer is 11,3%

Explanation:

The cost of common stock is common stockholders’ required rate of return. There are 3 methods to calculate the cost of common stock:

i- Dividend discount model or DMM

ii- Capital asset pricing model or CAPM

iii- Bond yield plus risk premium approach

Because of the information provided by the exercise, the correct method to use is de Dividend discount model.

Knowing the current market price of a stock and the last dividend paid, we can calculate the required rate of return, which is equal to the cost of common stock.

rs=(D1/P0)+g

D1= expected dividend

P0= current market price of the stock

g= dividend’s growth rate

To calculate D1 you need to use the following formula= D0x(1+g)

<u>Using the exercise information:</u>

D1=D0*(1+g)=1*1,06=1,06

P0=20

g=0,06

rs=(1,06/20)+0,06=0,113*100=11,3%

5 0
3 years ago
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