Answer: See explanation
Explanation:
Firstly, the interest revenue will be calculated as:
= 7,100 × 12% × 90/360
= 7100 × 0.12 × 0.25
= $213
Therefore, Jun's journal entry assuming the note is honored by the customer on October 31 will be:
Debit: Cash = $7313
Credit: Notes receivable = $7100
Credit: Interest revenue = $213.
Answer:
The answer is: The unemployment rate will increase
Explanation:
To calculate unemployment rate we use the following formula:
Unemployment Rate = Number of Unemployed People / Labor Force (unemployed + employed people)
To be considered unemployed, a person must be without a job, but actively looking for one.
The unemployment rate (UR) for Xenia would be:
UR = unemployed / (unemployed + part time workers + full time workers)
UR = 500 / 7,000 = 7.14%
Currently there are 2,000 people that are not considered unemployed since they are not working but they aren't looking for a job either. For example, if 500 of those would start looking for job and became unemployed, the new unemployment rate (UR) would be: 1000 / 7,500 = 13.33%.
So if more people start looking for a job, the unemployment rate will increase.
Answer:
$1,323
Explanation:
The computation of the gross pay for the employees is shown below;
Gross pay = ( Hours worked × Hourly rate ) + (Hours worked - excess worked hours) × Hourly rate × half yearly basis
= (46 hours × $27 ) + (46 hours - 40 hours) × $27 × 0.50
= $1,323
We simply applied the above formula to determine the gross pay for the employee without deducting any kind of taxes given in the question.
For example, assume retained earnings<span> is $1,000 at the beginning of the year and $1,500 at the end of the year. The company also paid $300 in </span>dividends<span> during the year. 2. Subtract beginning </span>retained earnings<span> from ending </span>retained earnings<span> to</span>calculate<span> the year's </span>retained earnings<span>.</span>
