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MrRissso [65]
3 years ago
7

Mich Inc., a hardware store, has a rating system in place that rates employees on their friendliness, usefulness, and product kn

owledge. Based on the ratings an employee receives, he or she gets an incentive. The compensation strategy followed by Mich is most closely described as a(n):
Business
1 answer:
makvit [3.9K]3 years ago
7 0

Answer:

Customer-focused compensation strategy

Explanation:

Customer-focused compensation strategy is the rating system where the employees are rated based on the way customers are being serviced. In this scenario, Mich Inc. is rating its employees on their friendliness, usefulness, and product knowledge, so the compensation strategy followed by Mich is closely described as a customer-focused strategy.

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What does it mean if a company has a debt ratio of 101.5%?
7nadin3 [17]

Explanation:

Debt ratio is basically the ratio between the total debts and the total assets of a company. It shows the percentage of total debts of the company in accordance or in comparison of the total assets. If the debt ratio is high, it means the company has more liabilities than the assets. Higher debt ratio may lead a company towards default.

In this question, 101.5% debt ratio means the total liabilities of the company are 1.5% more than the total assets of the company. This shows that the company's debt ratio is high. Liabilities are more than the assets. In this situation, a company is considered at a risk if precautionary measures are not taken immediately.

6 0
3 years ago
On November 1, 2021, Aviation Training Corp. borrows $51,000 cash from Community Savings and Loan. Aviation Training signs a thr
nekit [7.7K]

Answer:

1. November 01,2021

Dr Cash 51000

Cr Notes Payable 51000

2. December 31,2021

Dr Interest expense 510

Cr Interest Payable 510

3. February 01,2022

Dr Interest expense 510

Dr Interest Payable 255

Dr Notes Payable 51000

Cr Cash 51,765

Explanation:

Preparation of to record the necessary entries

1. November 01,2021

Dr Cash 51000

Cr Notes Payable 51000

(Being to Record the issuance of note)

2. December 31,2021

Dr Interest expense 510

(51,000*6%*2/12)

Cr Interest Payable 510

(Being to record the adjustment for interest)

3. February 01,2022

Dr Interest expense 510

Dr Interest Payable 255

(51,000*6%*1/12)

Dr Notes Payable 51000

Cr Cash 51,765

(510+255+51000)

(Being to Record the repayment of the note at maturity)

6 0
2 years ago
You have just retired with savings of $2 million. If you expect to live for 57 years and to earn 7% a year on your savings, how
galben [10]

Answer:

Annual withdraw= $143,023.66

Explanation:

Giving the following information:

Present value (PV)= $2,000,000

Number of periods (n)= 57

Interest rate (i)= 7% a year

<u>To calculate the annual withdrawal, we need to use the following formula:</u>

Annual withdraw= (PV*i) / [1 - (1+i)^(-n)]

Annual withdraw= (2,000,000*0.07) / [1 - (1.07^-57)]

Annual withdraw= $143,023.66

6 0
3 years ago
Lana Reid is an accounting clerk at Tenity Enterprises who is paid $18.15 per hour. During a week’s pay period, she worked 39 ho
butalik [34]

Answer:

$720.25

Explanation:

Given data:

Lana salary per hour = $18.15

total hour of work by her is 39 hr 41  minutes

we know from hundredth hour pay method

hundredth hr for 41 mints is = \frac{(41}{60}) \times  100 = 68.33

so we have  39 hrs 41 minutes that can be written as = 39.6833

So, salary for 39.6833 is = $18.15 \times 39.6833 = $720.25

4 0
3 years ago
Companies that have preferred stock outstanding promise to pay a stated dividend for an infinite period. Preferred stock is trea
mel-nik [20]

Answer:

$74.63 per share

Explanation:

The computation of the value of preferred stock is shown below:

As we know that  

Value of the preferred stock = Annual dividend rate ÷ Returns on the stock

where,

Dividend on the preferred stock = Dividend rate × Par value

= 11% × $100

= $11

And, the return is 14.74%

So, the value of the preferred stock is  

= $11 ÷ 14.74%

= $74.63 per share

6 0
3 years ago
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