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3 years ago

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. She might want to open a

Business

1 answer:

Morgarella [4.7K]3 years ago

6 0

Answer:

b) bed and breakfast.

Explanation:

A bed and breakfast is actually a type of lodging which offers overnight accommodation and breakfast for its customers. They are not usually a public establishment and do not require much rooms as they typically have about four to six rooms.

Therefore, because Cynthia is a hospitality worker that works in the lodging industry, and also likes to cater to a small group of people, she would likely open a bed and breakfast.

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Emily Turnbull, president of Aerobic Equipment Corporation, is concerned about her employees’ well-being. The company offers its

sweet-ann [11.9K]

Answer:

1. Salary expense = $2,300,000

Withholdings = $494,500

Salary payable = $1,805,500

2. Total fringe benefits = $185,150

3. Payroll tax = $494,500

Explanation:

1. Employee salary expense is given as $2,300,00

Withholdings is given as $494,500. This is the sum total of federal and state FICA taxes and unemployment tax.

Salaries payable is employee salary expense less withholdings.

Salaries payable = 2,300,000 - 494,500

= $1,805,500

2. Employer-provided fringe benefits includes medical insurance, dental insurance, life insurance and voluntary retirement plan contribution. The corporation matches employee contributions to a voluntary retirement plan up to 6% of their salaries and employee contribution to voluntary retirement plan is $115,000. Since this amount is 5% of salaries, the corporation will contribute an equal amount.

Medical insurance premiums paid by employer = $46,000

Dental insurance premiums paid by employer = $16,100

Life insurance premiums paid by employer = $8,050

Employer contribution to voluntary retirement plan = $115,000

Total fringe benefits = $185,150

3. Employer payroll taxes includes Federal and state FICA taxes and unemployment tax.

Federal FICA tax (rate of 7.65%) = (7.65/100) * 2300000 = $175,950

State FICA tax (rate of 7.65%) = (7.65/100) * 2300000 = $175,950

Unemployment tax (rate of 6.20%) = (6.20/100) * 2300000 = $142,600

Total pay roll tax = 175950 + 175950 +142600

= $494,500

8 0

4 years ago

If a journal entry and posting for the use of one month of rent from the prepaid rent account during the year is accidently omit

tensa zangetsu [6.8K]

Answer:

Expenses will be understated, hence, Net Income will be overstated.

Rent prepaid will be overstated, hence, current assets will be overstated.

Explanation:

Ordinarily, rent prepaid is meant to be credited every month to the tune of the the value that has been consumed and then added to period expenses to reduce net income.

In the statement of Financial Position, the same amount that has been consumed should be used to reduce balance in rent prepaid account, otherwise, current assets will be overstated if no adjustment is made.

4 0

4 years ago

For the past 8 months, Jinan Corporation has experienced a steady increase in its cost per unit even though total costs have rem

Gemiola [76]

Answer:

a decrease in the total amount of units produced while fixed costs remain the same (that is why they are called fixed).

Explanation:

For example, company A produces 1,000 units with a total variable cost per unit of $10 plus $10,000 total fixed costs. Company A's total costs = $20,000

If company A's production level decreases to 950 units, their total costs = $19,500. Therefore a 5% decrease in production units only decreases fixed costs by 2.5%.

Company A's total costs were evenly split between variable and fixed costs, but sometimes either variable or fixed costs are proportionally larger. If the fixed costs of company A had been 67% of total costs instead of 50%, the 5% decrease in units produced would have reduced total costs by only 1.7%.

So the larger the proportion of fixed costs, a change in the number of units produced will have a smaller impact in the total costs of the company.

6 0

3 years ago

One of the main factors when determining which companies to buy policies from is whether or not the company is _____ strong.

Valentin [98]

One of the main factors when determining which companies to buy policies from is whether or not the company is Death benefit strong.

Fundamental business information includes things like profitability, revenue, assets, liabilities, and growth potential.
You can compute a company's financial ratios using fundamental analysis to assess the viability of an investment.

Three basic valuation techniques are employed by business professionals when determining a firm's value as a continuing concern:

(1) DCF analysis,

(2) similar company analysis,

(3) precedent transactions.

<h3>What death benefit means?</h3>

To start, let's define death benefit: It's the money – lump sum or otherwise – that gets paid to your beneficiaries if you die while your life insurance policy is in effect.

Learn more about death benefit from company brainly.com/question/14275460

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4 0

2 years ago

Refer to Exhibit 5-5. If the airline charges price P1 for both aisle seats and middle seats, the result will be Group of answer

OverLord2011 [107]

Answer:

a surplus of middle seats and the equilibrium quantity of aisle seats.

Explanation:

Aisle seats are already preferred by people. So, increasing rate of middle seats will make people more attracted towards aisle seats. So, a surplus of middle seats and the equilibrium quantity of aisle seats.

7 0

4 years ago