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anyanavicka [17]
3 years ago
9

If your gross pay is $1500 each pay period, and you are paid semimonthly, what is your yearly gross pay?

Business
1 answer:
Ronch [10]3 years ago
8 0

Answer:

$39,000

Explanation:

Ideally, we'd know if every pay period is 2 weeks, but that's pretty standard. They say semimonthly because if you look at a calendar over a year, there are a couple of months where you will have 3 paychecks.

So. 52 weeks/year, divided into 2-week pay periods = 26 pay periods/year.

26 x 1,500 = 39,000

Please let me know if you have any questions about this.

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Darell Hair​ Stylists's adjusted trial balance and statement of​ owner's equity follow.
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Total Assets = Total Liabilities and Stockholder's Equity = $20,200

Explanation:

An unclassified balance sheet is a type of balance sheet that does not present assets and liabilities under different categories. It only presents all assets in order of liquidity and liabilities in order of the shortness of their terms.

This can be prepared for this question as follows:

Darell Hair​ Stylists

Unclassifed Balance Sheet

At December 31​, 2018

<u>Particulars                                                       Amount ($)         </u>

Cash                                                                     1,000

Accounts Receivable                                            900

Office Supplies                                                      600

Equipment                                                         19,700

Accumulated Dep. - Equipment                     <u>  (2,000)  </u>

Total Assets                                                     <u>  20,200  </u>

Accounts Payable                                                 900

Interest Payable                                                    550

Notes Payable                                                    3,400

Common Stock                                                 10,650

Retained Earnings, Dec. 31, 2018                  <u>   4,700  </u>

Total Liabilities and Stockholder's Equity   <u>  20,200 </u>

Since Total Assets and Total Liabilities and Stockholder's Equity as it is normally required, that indicates that the unclasified balance sheet has been prepared accurately.

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