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Vlad [161]
3 years ago
10

McGinnis Construction is a cash-basis company with a fiscal year-end of June 30. McGinnis’ employees earn a normal weekly wage o

f $12,500 during a five-day work week. June 30 falls on a Thursday for the current year. McGinnis also performed services of $40,900 during the last four days of June, but they are not paid in full until July 8. As a result of operations, there will be an ________ of McGinnis’ net income for the most recent fiscal year of:
Business
1 answer:
viva [34]3 years ago
5 0

Answer:

As a result of operations, there will be an understatement of McGinnis’ net income for the most recent fiscal year of 30900

Explanation:

Services             40900

Weekly wage     10000

FY end on June  30900

The cash basis is a method of recording accounting transactions for revenue and expenses only when the corresponding cash is received or payments are made. Thus, you record revenue only when a customer pays for a billed product or service, and you record a payable only when it is paid by the company

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Brandy has some money saved for college and also receives a work-study position to help pay for her college tuition. If Brandy g
Elanso [62]
Brandy has some money saved for college and also receives a work-study position to help pay for her college tuition. If Brandy graduates from college, she will not have to repay the work-study compensation because that income is not a loan.

Thus the answer is letter A.
<span>>>The work-study program caters part-time employment to undergraduates and graduates to help with college expenses. There are two different kinds of work-study: Federal Work-Study and non-Federal Work-Study.</span>
6 0
3 years ago
The Shoe Box is considering adding a new line of winter footwear to its product lineup. When analyzing the viability of this add
Sindrei [870]

Answer:

D)the research and development costs to produce the current winter footwear samples.

Explanation:

Research and development costs associated with the current winter footwear samples will not impact the performance of the proposed new line.

When analyzing the viability of the new product line up, the company should only consider the projected expenses and revenues arising from the project. A project is viable if its benefits outweigh its shortcomings. One way of establishing viability is by doing a cost-benefit analysis.

For the Shoe Box company, the new project line may have some effects on the sales of current products. The new projects will demand new counters. The company must also consider expected revenues and taxes. All these have elements of cost and benefits directly associated with the proposed product line.

7 0
3 years ago
Liliana needs to furnish her new apartment. She found all the items she wanted on the manufacturer's website and can save over $
maw [93]

Answer: The price that Liliana will pay for shipping the furniture may be higher than the amount she saved.

Explanation:

Liliana wants a new furniture for her apartment which she found on the website of the manufacturer. From the information given in the question, we were informed that she will save $500 when she buys from the manufacturer directly.

From the information provided, the deal is good since she'll save $500 but the only thing that might stop her from making the purchase is when the shipping fee is more than the $500 she'll save. In that case, buying the furniture isn't really worth it as other options may be considered.

8 0
3 years ago
Show your work and explain in a full sentence how 4 2-6 is equivalent to 3 8-6.
klemol [59]

Answer:

4\frac{2}{6} = 3\frac{8}{6} = \frac{26}{6}

Explanation:

Given

4\frac{2}{6} and 3\frac{8}{6}

Required

Show that they are equivalent

To do this, we simply convert both fractions to either decimal or improper fraction

Using improper fraction

4\frac{2}{6} = \frac{6 * 4 + 2}{6}

4\frac{2}{6} = \frac{24 + 2}{6}

4\frac{2}{6} = \frac{26}{6}

3\frac{8}{6} = \frac{6 *3+8}{6}

3\frac{8}{6} = \frac{18+8}{6}

3\frac{8}{6} = \frac{26}{6}

After converting both to improper fraction, we have:

4\frac{2}{6} = 3\frac{8}{6} = \frac{26}{6}

<em>Hence, both are equivalent</em>

3 0
3 years ago
True or False: Reducing trade restrictions, thereby increasing access to more economical foreign goods, would increase the prosp
Zolol [24]
The answer is true. because if the government allow trades to take place people would be able to exchange goods from countries to countries.
6 0
3 years ago
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