Answer:
429,260
Explanation:
Contract commencement date = July 1 , 2021
Contract payment term = $56,000 / annual
Additional 15% ($8,400) at the end of each year if occupancy exceeds 90%
Estimate of meeting occupancy threshold = 30%
At the year end 2012, Contract timeline = 6 month (1/2 year)
Base revenue recognized 56000/2 = $28,000
Additional payment = (8400*30% )/2 =$1260
Revenue recognized at December 31 , 2021 = $28000+ $1260 = $29,260
Answer:
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Answer:
Explanation:
In order to run a successful business each of these functions need to be present and functioning efficiently since each one depends on the other in order for the entire business to succeed. Production makes sure that the business has products to sell. Marketing makes sure that potential customers are aware of the products that the business sells. Finance makes sure that the pricing for those products, costs, and expenses (marketing) all lead to profitability when calculated. And finally, Management makes sure that all of these functions interact efficiently and are poised for success.
Answer:
Wages payable $3,094.10
Explanation:
the journal entry used to record the employee's salary is:
February 28, wages expense:
Dr Wages expense 4,600
Cr Retirement plan contribution payable 460
Cr Federal income taxes withheld payable 644
Cr FICA (Social Security) taxes withheld payable 285.20
Cr FICA (Medicare) taxes withheld payable 66.70
Cr Health insurance payable 50
Cr Wages payable 3,094.10
The net pay = gross pay ($4,600) - retirement plan ($460) - federal income taxes ($644) - FICA ($351.90) - health insurance ($50) = $3,094.10