Answer:
Net income for the current period is $2,350.
Explanation:
Calculation of Net Income for the Current Period.
$ $
Fees earned 7,250
Less Expenses :
Rent expense 1,300
Salaries expense 2,300
Utilities expense 345
Insurance expense 650
Supplies expense 115
Depreciation expense—equipment 190 (4,900)
Net Income / (Loss) 2,350
All national banks must be members of the Federal Reserve System, while state banks can join if they wish
Answer:
A pay policy line <u>reflects the pay structure in the market, which always matches rates in the organization.</u>
Explanation:
A pay policy line is the salary level and organization chooses to pay its employees compared to the standard salary level in the market.
Organizations would prefer not to overpay or underpay their employees. Therefore they consider the standard pay structure of the market and match the amount they pay their employees to this structure.
Answer: $3,940
Explanation:
Purchase from Diamond
The company received a discount of 2% because they paid within 10 days as per the terms of the sale.
Cost of inventory from Diamond:
= (Cost of goods - Returns) * (1 - 2%)
= (4,100 - 1,100) * 98%
= $2,940
Purchase from Club
Discount period expired so the full $1,000 is paid.
Total inventory cost:
= 2,940 + 1,000
= $3,940
