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andreyandreev [35.5K]
3 years ago
14

Gourd Supermarkets has an extensive training program for all new employees and then has all employees spend a day in customer se

rvice and workplace safety training each year.
Required:
What contract is it:
a. old social
b. new social?
Business
2 answers:
iVinArrow [24]3 years ago
7 0

Answer:

Old social contract

Explanation:

Old social contract is a type of contract that emphasises the long term commitment between the employer and the employee and stable conditions are defined for both parties.

New social contract on the other hand is one that is short term, and there is little commitment to the contract from both parties.

In the given scenario Gourd Supermarkets provides extensive training program for all new employees. They then spend a day in customer service and workplace safety training each year.

This shows a long term commitment, so it is a form of old social contract.

disa [49]3 years ago
7 0

Answer: a. Old social contract

Explanation: this is an old social contract which is defined as one between an employee and the employer (organisation, business, company or firm) where the employee contributes his/her ability, education, loyalty, and commitment to the organization, and expect wages and benefits, work, advancement, and training in return. Thus, the old social contract emphasizes on long-term commitments with stable conditions between employers and employees. The old social contract is in direct contrast with the new social contract which exists between an employee and an organization wherein the employee takes personal responsibility for employability and the employer gives challenging assignments, lateral career moves, and creative development opportunities.

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Which accounting principle is adopted to make adjustments to the trial balance so that the debit and the credit side balances? T
antiseptic1488 [7]

Answer:

The accrual principle

The main purpose of adjusting entries is to update the accounts to conform with the accrual concept. At the end of the accounting period, some income and expenses may have not been recorded, taken up or updated; hence, there is a need to update the accounts.

8 0
3 years ago
Read 2 more answers
Carmen manufactures a unit called A2. Variable manufacturing costs per unit of A2 are as follows:The Don Company has offered to
myrzilka [38]

Answer:

Accepted

Explanation:

In this question, we have to compare the make or buy options which are shown below:

Particulars                                                    Make                    Buy

Direct materials (5,000 units × $1)           $5,000

Direct labor (5,000 units × $10)               $50,000

Variable manufacturing overhead

(5,000 units × $5)                                     $25,000

Fixed manufacturing overhead              $60,000           $110,000 (5,000 units  × $22)                                                                                  

Total                                                        $140,000                $110,000

Since in buy decision, the cost is minimum. So, the company should accept this offer

8 0
4 years ago
On December 31, 2019, the Income Statement section of the worksheet for Capeletti Distributors contained the following informati
Yuliya22 [10]

Explanation:

The closing journal entries are as follows

1. Sales $249,500

  Interest Income $120

  Purchases Returns and Allowances $1,500

  Purchases Discounts $1,430

                   To Income Summary $252,550

(Being revenue account closed)

2. Income summary A/c Dr $227,280

               To Sales Returns and Allowances $3,400

               To Sales Discounts $2,400

               To Purchases $133,400

               To Freight In $1,700

               To Rent Expense $8,000

               To Utilities Expense $2,830

               To Telephone Expense $1,440

               To Salaries Expense $65,100

               To Payroll Taxes Expense $5,170

               To Supplies Expense $1,600

               To Depreciation Expense $2,000

               To Interest Expense $240

(Being expenses accounts are closed)

3. Income summary A/c Dr $28,570

                 To John Capeletti, Capital $28,570

(Being the net income is closed)

The calculation is shown below:

= $40,900 + $252,550 - $227,280 - $37,600

= $28,570

4. John Capeletti, Capital $25,700

                 To John Capeletti, Drawings $25,700

(Being drawing account is closed)

7 0
4 years ago
In May of 2021, Raymond Financial Services became involved in a penalty dispute with the EPA. At December 31, 2021, the environm
Natasha2012 [34]

Answer:

$882,000

Explanation:

According to IAS 37, Provisions, contingent liability and contingent assets,  A provision is a liability of uncertain timing or amount. The liability may be a legal obligation or a constructive obligation.

An entity recognises a provision if it is probable that an outflow of cash or other economic resources will be required to settle the provision. Furthermore, the standard requires that a provision is measured at the amount that the entity would rationally pay to settle the obligation at the end of the reporting period or to transfer it to a third party at that time.

The amount to be accrued for is the settlement offer of $882,000 which was accepted before the financial statement was issued. This settles the uncertainty in the amount to be provided for.

4 0
4 years ago
Heller Enterprises reports the following information. 2017 2016 Cash $10,800 $10,600 Operating assets $18,500 $18,800 Operating
AnnyKZ [126]

Answer:

The company's residual operating income (ROPI) for 2017 is $9,960. The right answer is D.

Explanation:

In order to calculate the company's residual operating income (ROPI) for 2017 we would have to use the following formula:

Company's Residual operating Income = NOPAT - [ WACC x NOA at beginning ]

Where, NOPAT = Net operating profit after tax for 2017 = $10,200, WACC = weighted average cost of capital = 6%

NOA at beginning = Net operating assets at beginning of the year (NOA of 2016 closing) = $18,800 - $14,800 = $4000

Therefore, Company's residual operating income = $10,200 - [ 6% x $4000 ] = $9,960

3 0
3 years ago
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