The most important factor in the
work process or industry is to retain the interest of the employee. And to
retain them, their salary or profit must be adjusted to the best value. Unless
the employee does not do his job properly, employees must receive bonuses or
benefits to ensure them to stay in the company. It will actually make them stay
longer, make them feel important and reduce costs for hiring new employees.
Answer:
Net Sales $2720
Explanation:
Hancock Corporation
Jan 6: Sales $ 1500
Add Jan 6 Sales $ 850
Less Jan 14 Sales Discount $ 30 ( 2% of $ 1500)
<u>Add Feb 28: Sales $ 400</u>
<u>Net Sales $2720 </u>
Only a 2% discount is given on the cash received on Jan 14 on the sales made on JAn 6 to S. Green because the cash is received within the first ten days of sales made. The cash received on Feb 2 is not given the sales discount as it is received after ten days of the sales made. That is sales were done on Jan 6 to M. Munoz. with the terms 2/10, n/30 meaning discount will be given within the first ten days . But as the payment was on Feb 2 almost 17 days later the discount is not given.
The term 2/10 n/30 means a two percent discount will be given if sales were paid within the first ten days. So a discount is given to S. Green but not M. Munoz as payment is done after 10 days.
Answer:
Explanation:
Bank Reconciliation: The bank reconciliation deals with the bank statement balance and the cash statement balance. The motive is to compare these two statements so that the organization can run in the smoothly manner.
There are various transactions due to which the bank statement balance and the cash statement balance do not match. To match these statements, we adjust the transactions accordingly.
The journal entries are shown below:
a. No journal entry required
b. Miscellaneous expense A/c Dr $16
To Cash A/c $16
(Being service charges is paid)
c. Cash A/c Dr $9 ($476 - $467)
To Utilities expense A/c $9
(Being correction is recorded)
d. No journal entry required
The preparation of the bank reconciliation statement is presented in the spreadsheet. Kindly find the attachment below:
Answer:
$82000
Explanation:
Gross income is defined as the total sum of money received (salary, wages, rents, interests and other form of earnings) that an individual or a household receive before any deductions or taxes. Hence,
Given that
Salary = 22000
Alimony = 10000
Punitive damage = 50000
Gross income = 22000 + 10000 + 50000
= $82000
The child support and compensatory damages are not added because they are not taxable.
Answer:
$5100
Explanation:
The cost of the inventory in $25000 and the cost of shipping it to the consignee, $500.
The cost of marketing brochures an comissions are recognized as expense and do not affect inventory. If 80% of the inventory was sold, 20% remains, which will have a carrying value of $25,500 X 20% = $5100
