All categories

2 years ago

What is a fringe benefit?

1 answer:

5 0

A fringe Benefit is a payment to employees other than wages or salaries. Fringe benefits are provided to both regular employees and minimum wage earners as an additional compensation. Fringe benefits are commonly tax-exempt which generally includes employee discounts, educational assistance, health insurance, personal use of the vehicles owned by the company, reimbursement of childcare and assistance and others.

You might be interested in

Who would be a member of the American Dental Assocoiciation

mario62 [17]

Answer:

The American Dental Association (ADA) is the professional association of dentists dedicated to serving both the public and the profession of dentistry. This association was founded by William Henry Atkinson. A retired dentist would be a member of the American dental association because he/she is still a dentist and can contribute to promoting public's health by providing quality oral health care. Correct answer: B

Explanation:

edge2020

6 0

2 years ago

ACME labs bought a new inspection device for $182,730. The accounting department has estimated that the device will have an annu

enyata [817]

Answer:

salvage value is $16,368.34

Explanation:

given data

initial cost = $182,730

annualized capital cost = $42,442

service life = 7 year

interest rate = 15%

solution

we get here first present value that is

annual value = rate × $\frac{present\ value}{(1 - (1+ r)^{-t})}$ .................1

put here value and we get

42,442 = 15% × $\frac{present\ value}{(1 - (1+ 0.15)^{-7})}$

solve it we get

present value = $176,576.5343

present value = initial investment + salvage value ..............2

we take here present value and initial investment will be negative

-176,576.5343 = -182,730 + salvage value(p/f,15%,7)

-176,576.5343 +182,730 = salvage value(p/f,15%,7)

6,153.465 = salvage value × 0.3759

salvage value = 16,368.34

3 0

3 years ago

Black and Decker decides to discontinue producing toasters in lieu of more versatile toaster ovens. In the process of discontinu

Andru [333]

Answer:

The correct answer is Gain or loss on the sale of equipment as part of continuing operations.

Explanation:

If a gross profit on sales is generated in the process of selling an item of property, plant and equipment, but additional expenses are also incurred, the only thing that is recognized in the income statement is the net profit.

Among the accounts of the income statement, only one record is made with the net profit that occurred in the process of the sale of the asset. Although the final effect on the income statement is the same as it had under the old regulatory framework, it can be said that with that single record among the income statements, what is sought is that high gross income and expenses are not shown high, as this could distort the different financial analyzes that will be carried out at the end of the year.

6 0

3 years ago

Latoya has $113.94 in her checking account. During the week she goes to an atm and withdraws $40. she is charged a usage fee of

Maksim231197 [3]

She has 168.49 in her bank account

3 0

2 years ago

Why do you think coins have been a more desirable form of money than paper currency throughout u.s history?

GrogVix [38]

Hello!!

The metal coins are/were made from is worth more tangibly than the paper that currency notes were written on.

Hope this helps! Thank you!!

6 0

3 years ago