Answer: 1009.75
Explanation:
Computation of Net Pay
Hourly wage 30 × 46. = 1380
Excess hours 30×1/2×(46-40) =90
Total Gross =1470
Less:
Income Tax 350
Social Security ta 1470×6%. 88.2
Medicare tax 1470×1.5% 22.05
Net Pay 1009.75
Hence Option B is correct.
Answer:
$1,700,000
Explanation:
The computation of the NET accounts receivable (the cash realizable value) at December 31, 2019 is shown below:
= Account receivable - allowance for doubtful debts
= $2,000,000 - $300,000
= $1,700,000
By deducting the allowance for doubtful debts from the account receivable we can get the net account receivable or the cash realizable value
Therefore we ignored the bad debt expense
Answer:
Grouper Inc. is involved in a lawsuit at December 31, 2020
It is given that Grouper will be liable for $863,600 as a result of this suit. Therefore, the journal entry for this situation is as follows;
On December 31, 2020
Lawsuit loss A/c Dr. $863,600
To Lawsuit liability $863,600
(To record the lawsuit loss of the Grouper Inc.)
Answer:
fight for the same benefit or gain
Explanation:
For example, if there are two firms in an industry. The goal of the two firms would be to maximise profit. To achieve this, the two firms would engage in various competitions in order to attract customers.
For example, they may differentiate their products or give discounts in order to attract customers and so increase profits
