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Ostrovityanka [42]
3 years ago
8

This year Ed celebrated his 25th year as an employee of Designer Jeans Company. In recognition of his long and loyal service, th

e company awarded Ed a gold watch worth $250 and a $2,000 cash bonus. What amount must Ed include in his gross income
Business
1 answer:
wlad13 [49]3 years ago
4 0

Answer:

Both of these must be included in the gross income.

Explanation:

The reason is that the employee income that is taxable includes all the benefits in monetary amount and benefits in kind. These benefits are paid to employee as a share of salary to manage his motivation. These incomes must be included in the gross income to calculate his gross income.

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In QuickBooks Online, the Products and Services list contains the items that will appear on your client's purchase and sales tra
fenix001 [56]

Answer:

A relevant account from the chart of accounts

Explanation:

QuickBooks is an accounting software that is designed to assist users with little accounting experience manage their financial records.

Transactions in QuickBooks are classed as products and services. These are mapped to relevant accounts in the chart of accounts.

For example mapping can be done to asset or liability accounts.

When mapping there are three classes products and services can be mapped to:

-Inventory

-Non inventory

-Services

When setting up new product and service the appropriate class is chosen and relevant account is assigned to the product or service.

For example sales tax is mapped by default to sales tax payable account.

7 0
2 years ago
Read 2 more answers
Koby, age 16, works after school at FastFood from 4 p.m. until 11 p.m. On Friday night, therestaurant manager sees that Koby is
guapka [62]

Answer:

find answer in the explanation below

Explanation:

Koby is 16 and that means he is under age for a start. That initial statement makes Fastfood liable.

As it can be seen from the question, the golden rule applies to Koby's case as it is clear he has other things to do with his time.

Primarily, he is a student and that means he has school work to do alongside putting in some hours at Fastfood. But then, he still has the right to be treated right which in this case means him getting some rest. It is therefore safe to say that the manager of Fastfood is trying to take advantage of Koby and should have given him rest.

if he had gotten some rest, he wouldn't have fallen asleep while driving and been in the accident.

Cheers

7 0
2 years ago
Margaret, a consumer in a DTPA lawsuit, was able to prove that the licensee in her suit knowingly failed to disclose information
Naddik [55]

Answer and explanation:

The Deceptive Trade Practices Act (DTPA) of 1973 protects consumers from misleading information provided during the sale of a good or service. If a defendant is found liable in a DTPA lawsuit, the plaintiff is entitled to <em>monetary damages for the recovery of economic damages, anguish damages, discretionary damages, </em>and <em>attorney's fees</em>.

7 0
2 years ago
What are the steps for the software engineering institute model for risk management?
Dahasolnce [82]

Answer:

A

Explanation:

Identify, analyze, plan, track, and control

4 0
2 years ago
M and M, Inc. produces a product that has a variable cost of $4.90 per unit. The company's fixed costs are $37,200. The product
iragen [17]

Answer:

So the amount of sales needed will be $144000

Explanation:

We have given selling price per unit =$8

Variable cost per unit = $4.90

Contribution margin per unit = 8-4.90=$3.1

Contribution margin Ratio = \frac{contribution\ margin}{sales}=\frac{3.1}{8}=0.3875

Fixed costs =  $37200

Target profit= $18600

Required Sales amount to earn the desired profit = \frac{Fixed costs + Target net income}{Contribution Margin Ratio}

=\frac{37200+18600}{0.3875}=$144000

3 0
3 years ago
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