1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jarptica [38.1K]
3 years ago
7

Ted works as a painter for local businesses on weekends, and he often provides services in exchange for property. In 2018, Ted p

rovided painting services in exchange for $1,275 of car repair services, $3,570 of groceries, and a certificate of deposit (CD) for $4,050. The (CD) matures next year with interest. Finally, Ted received a gift card that can only be applied for $850 of clothing at a local mall. Ted has only applied the gift card to purchase $100 of clothing. Compute Ted's 2018 gross income assuming that he uses the cash basis of accounting.
Business
1 answer:
nalin [4]3 years ago
7 0

Answer:

$4.945

Explanation:

According with the information, you should sum all the numbers mentioned, with the exception of the $.4050 of the (CD) and make another operation. The reason is the methodology of cash basis of accounting, with this type of methodology where you suppose that every income that you receive independently must be available immediately, in this case the $1,275 of car repair services, $3,570 of groceries, and the $100 were resources that you already used, it means that you make effective gross income of  $4.945. Remain the $750 of the clothing that you still haven't used and the $4.050 of the certificate of deposit that will be effective (cash) the next year.

You might be interested in
disadvantages of the structure include organizational complexity, increased administrative costs, slow decision making, and diff
Sophie [7]

A company's organizational structure is the hierarchy that defines its management and communications. The disadvantages of organizational structure include lopsided management lines, increased bureaucracy, slowed communications, and increased inflexibility.

<h3>What exactly is an organizational structure?</h3>

A system that defines how specific activities are directed in order to achieve an organization's goals is referred to as an organizational structure. Such activities include rules, roles, and responsibilities.

  • Many of the problems with using a simple organizational structure revolve around the workload of the owner or the person at the top. If the owner of a company is required to approve every decision, he may become overworked.
  • The three main organizational structures are hierarchical, sequential, and matrix.

Hence, the organizational structure of a company is the hierarchy that defines its management and communications. Organizational structure disadvantages include lopsided management lines, increased bureaucracy, slowed communications, and increased inflexibility.

To learn more about organizational structure refer to:

brainly.com/question/2636977

#SPJ4

8 0
1 year ago
An estimated three-quarters of what product sold in naples originate in the black market?
Ivanshal [37]
<span>This is because the tax on a carton of cigarette is about $10plus. It used to be $3plus before the Obama administration and when the cost of tax is added to the sales price, it makes it more expensive for the average consumer, however, black market sellers usually avoid paying taxes thats why it is black market.</span>
7 0
3 years ago
An associate professor of physics gets a $200 a month raise. She figures that with her new monthly salary she can buy more goods
azamat

Answer:

The correct answer is a. Her real and nominal salary have risen.

Explanation:

The term nominal salary refers to the salary literally expressed in money; It is the sum of money paid to the worker for the work done during the stipulated day. When referring to the nominal salary we cannot give ourselves a general idea about the level or real value of the salary. The true value of this salary depends entirely on the level of the prices that correspond to the objects of personal consumption, also on the value of the services that are required, as well as the volume of taxes, among other common expenses.

For its part, the real salary refers to the salary expressed with respect to livelihoods and services available to the worker with his salary; Indicates the amount of consumer items that the worker is able to acquire, as well as services that a worker can buy with his nominal salary (which is handled in the monetary amount that the worker receives)

7 0
4 years ago
Stiner has chosen to accrue the liability for compensated absences at the rates of pay in effect when the compensated time is ea
marshall27 [118]

Answer:

True

Explanation:

A compensated absence is employee time off with pay, which can arise in such situations as sick leave, holidays, vacations, and jury duty. To account for compensated absences, it is not necessary to separately recognize them when they are earned and used within the same period, since it is typically rolled into the general compensation expense. However, they must be charged to expense and recorded as a liability when they are earned and their use is deferred to a later period.

An employer should accrue a liability for compensated absences payable to employees for their future absences, but only if all of the following conditions are met:

• The payment obligation for future absences is based on employee services already rendered.

• The amount of the obligation can be reasonably estimated.

• Payment is probable.

• The obligation is for employee rights that vest or accumulate.

5 0
3 years ago
5. A firm currently produces its desired level of output. Its marginal product of labor is 400, its marginal product of capital
gizmo_the_mogwai [7]

Answer:

D.

Explanation:

Firms will hire more labor when the marginal revenue product of labor is greater than the wage rate, and stop hiring as soon as the two values are equal.

7 0
4 years ago
Other questions:
  • What may happen if the threaded heating element in percolator is not very tightly mounted
    14·1 answer
  • How are credit unions similar to banks? A. They both seek to make a profit. B. They both give out loans. C. They're both owned b
    15·1 answer
  • If demand for a product is inelastic, what would you predict will happen to the demand when it's price rises?
    7·1 answer
  • What term is used to describe an experiment run by an ad agency where the ad agency will recruit consumers to come watch a tv se
    9·1 answer
  • Lew Co. sold 200,000 corrugated boxes for $2 each. Lew's cost was $1 per unit. The sales agreement gave the customer the right t
    5·1 answer
  • When Ford discovered the fault with its Pinto model that caused the car to explode easily when hit from the rear, what action sh
    11·1 answer
  • Expliquen la siguiente frase:
    8·1 answer
  • How water utility company caters for their interests and what may happen if their expectations are not met.​
    8·1 answer
  • The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following the month of sale, and
    9·1 answer
  • Chamberlain Co. wants to issue new 17-year bonds for some much-needed expansion projects. The company currently has 12.2 percent
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!