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IceJOKER [234]
3 years ago
11

As part of the initial investment, Ray Blake contributes equipment that had originally cost $101,300 and on which accumulated de

preciation of $75,975 has been recorded. If similar equipment would cost $158,400 to replace and the partners agree on a valuation of $51,500 for the contributed equipment, what amount should be debited to the equipment account
Business
1 answer:
Mrrafil [7]3 years ago
4 0

Answer:

This is a repeat question on Brainly but here you go.

<h2><em>$51,500 </em></h2>

Whether original cost or replacing cost is given in the question but we considered that cost in which the partner give their consent

So, the equipment amount should be debited at <em>$51,500 </em> instead of the original cost or the replacing cost

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Lemony Company made sales of $38,000 million during 2018. Cost of goods sold for the year totaled $16,340 million. At the end of
Evgesh-ka [11]

Answer:

Gross profit = 57%

Inventory turnover  = 8.60 Times

Explanation:

The gross profit percentage can be calculated by dividing the gross profit by sales. Inventory turnover can be calculated by dividing the cost of goods sold by the average inventory, in this case average inventory is not given in the question. Average inventory can be calculated by dividing the sum of opening and closing inventory with 2.

Gross profit =  (Sales - Cost of goods sold) / Sales x 100

Gross profit = (38,000 - 16,340) /38000 x 100%

Gross profit = 21,660/38,000 x 100

Gross profit = 57%

Inventory turnover = Cost of goods sold / Average inventory

Inventory turnover = 16340/1900

Inventory turnover  = 8.60 Times

Average inventory = (1800 + 2000) /2

Average inventory = 1900 Million

8 0
3 years ago
1. Explain why businesses pay overtime rates rather than employ more workers on the lower standard wage rate?
Alex Ar [27]

Answer:

Executive Summary

The labor market continues to recover, but a stubbornly high rate of underemployment persists as more than five million Americans are working part-time for economic reasons (U.S. BLS 2015a; 2015b). Not only are many of this type of underemployed worker, by definition, scheduled for fewer hours, days, or weeks than they prefer to be working, the daily timing of their work schedules can often be irregular or unpredictable. This both constrains consumer spending and complicates the daily work lives of such workers, particularly those navigating through nonwork responsibilities such as caregiving. This variability of work hours contributes to income instability and thus, adversely affects not only household consumption but general macroeconomic performance.

The plight of employees with unstable work schedules is demonstrated here with new findings, using General Social Survey (GSS) data. These findings (as well as key findings from other research) are highlighted below.

Irregular scheduling

About 10 percent of the workforce is assigned to irregular and on-call work shift times and this figure is likely low.1 Add to this the roughly 7 percent of the employed who work split or rotating shifts and there are about 17 percent of the workforce with unstable work shift schedules.

Six percent of hourly workers, 8 percent of salaried workers, and 30 percent of those paid on some other basis work irregular or on-call shifts. Adding in split or rotating shifts, the shares working unstable work schedules are 16 percent (hourly), 12 percent (salaried) and 36 percent (other).

By income level, the lowest income workers face the most irregular work schedules.

Workers paid under $22,500 per year are more likely to work on irregular schedules than workers in the income bracket above that (workers in the latter bracket who are salaried would be just above the current salary minimum threshold for assured FLSA overtime coverage).

Irregular shift work is associated with working longer weekly hours.

By occupation type, about 15 percent of sales and related occupations have irregular or on-call schedules.

By industry, irregular scheduling is most prevalent in agriculture, personal services, business/repair services, entertainment/recreation, finance/insurance/real estate, retail trade, and transportation communications.

Estimates of the proportion of the workforce with “variable hours,” in terms of not being able to specify a “usual” workweek (according to Current Population Survey, not GSS data), are remarkably consistent—almost 10 percent of workers overall. Being part-time more than doubled the likelihood of having hours that vary weekly. The share with variable workweeks also is higher in certain occupations and industries, such as sales, and lower in others, such as professional, managerial, and administrative support. Also, the prevalence is reduced for union members, married workers, government employees, whites, men, and workers with a higher level of education.

Nearly half of workers (45 percent) surveyed by the International Social Survey Program said that their “employer decides” their work schedule. Only 15 percent perceived that they were “free to decide” their work schedule. The remaining 40 percent felt they could “decide within limits.” This conforms to another study of “early career” workers; just under half of hourly early career workers surveyed in the National Longitudinal Study of Youth said they have their daily start and end times of work decided entirely by their employer, without their input.

Irregular scheduling and outcomes

Employees who work irregular shift times, in contrast with those with more standard, regular shift times, experience greater work-family conflict, and sometimes experience greater work stress.

Less than 11 percent of workers on “regular” work schedules report “often” experiencing work-family conflict in contrast with as many as 26 percent of irregular/on

8 0
3 years ago
Read 2 more answers
Carl jung's view of extroverted and introverted types serves as a basis of the ________.
ASHA 777 [7]
<span>Carl Jung's view of the extroverted and introverted types serves as the basis of the Myers-Briggs Type Indicator. This is a personality questionnaire that gives a type to a person based on social, organizational, thinking patterns, and other personality indicators.</span>
8 0
4 years ago
An optimal procedure for organizations to accept projects is to specify a return on investment (ROI) and fund only projects that
olga nikolaevna [1]

Answer:

False

Explanation:

Capital budgeting is needed in any project work as it entails the process and procedures taken in evaluation and selection of long-term investments that are consistent with the firm's goal of maximizing owner's wealth.

Normally, before a company invest or undergo any project, background work is done to know if the project will yet profit or no, feasibility study is carried out and things are put in place. If it is favourable for the firm and profit is high, firms may choose to invest after weighing the pros and cons (advantage and disadvantage) of the project before investment. So return of investment initial investment is not really considered when taking up a project as all project is done at their own risk.

7 0
3 years ago
Which of the following are examples of opportunity costs? Check all that apply.
gtnhenbr [62]

The answer is a and c I know this because if you spend time or money on on something you can not do the other and that is exactly what is happening.

7 0
3 years ago
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