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lyudmila [28]
3 years ago
15

You are an accounting student at a university and also a talented guitar player. During summer vacation, you are hired full time

to do bookkeeping for a computer store. You work during normal business hours at the computer store. Your work there is supervised by the office manager, and you are paid an hourly wage. On Saturday nights, you play guitar at a pub. You bring your own instrument and you decide what music to play. You are paid a set price for this gig. A question arises at both the store and the pub as to whether you are an employee or an independent contractor. This question is important because employers have certain obligations to employees that do not apply to independent contractors. For example, employers are liable for the wrongful acts of employees but generally not for the acts of independent contractors. Likewise, employers must withhold payroll taxes for employees but not for independent contractors.
Required:
Are you an employee or an independent contractor at the store and at the pub?
Business
1 answer:
Travka [436]3 years ago
8 0

Considering the scenario described above, at the store, I am an employee. This is because I'm hired full-time.

Also, because an office manager is supervising me, that shows I am an employee.

Also, given that I work within normal business hours at the store, that is a characteristic of an employee. Again, payment of wages is associated with employee relations.

On the other hand, I work as an independent contractor at the pub because I decide the music to play and get paid per gig.

Also, given that I don't work at normal hours and get paid at a lump sum, this is an independent contractor working feature.

Hence, in this case, it is concluded that I worked as an independent contractor at the pub and an employee at the store.

Learn more here: brainly.com/question/20834227

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Barbra purchased a piece of real estate last year for $85,000. The real estate is now worth $102,000. If Barbra needs to have a
nlexa [21]

Answer:

$4,250

Explanation:

Current return = $102,000 - $85,000 = $17,500

Current rate of return = $17,500/$85,000 = 0.2, or 20%

Additional required rate of return = 25% - 20% = 5%

Dollar amount of income = 5% * $85,000 = $4,250

Therefore, Barbra needs $4,250 to reach her objective.

Check:

Total return = $17,500 + $4,250 = $21,250

Total required rate of return = $21,250/$85,000 = 0.25, or 25%.

6 0
3 years ago
Read 2 more answers
At December 31, 2021, the financial statements of Hollingsworth Industries included the following:
Degger [83]

Answer:

Basic EPS = $1.34 million

Diluted EPS = $1.23 million

Explanation:

As per the data given in the question,

Share on Jan-1 = 400 million

On Sep 1 Treasury shares = 12 million (36 million × 4 months ÷ 12  months )

No. of shares = 400 - 12 = 388 million

Basic EPS = Net income ÷ number of outstanding shares

= $520 million ÷ 388 million

= $1.34 million

Diluted EPS :

Net income = $520 million

After tax interest saving = $8 (20 million - (40% × 20 million ))

The 20 million is come from

= $520 million ×8%

= 20 million

Adjusted net income = $520 + $8 = $528 million

No. of shares as computed above = 388 million

Bond conversion shares = 40 million

Total share outstanding = 388 + 40 = 428 million

Diluted EPS = $528 million ÷ 428 million

= $1.23

5 0
3 years ago
Janine is 25 and has a good job at a biotechnology company. She currently has $5,000 in an IRA, an important part of her retirem
nexus9112 [7]

Answer:

$108,622.60

Explanation:

Calculation for the amount Janine's IRA will worth when she needs to start withdrawing money from it when she retires

Based on the information given we were told that She has the amount of $5,000 in an IRA, which is a vital part of her retirement nest egg in which She has well believes that her IRA will increase at an annual rate of 8%.

Secondly we were told that she is 25 age and plan to retire at the age of 65 which means that the number of years until her retirement will be 40 years(65 years-25 years)

Now let calculate how much she will be worth using this formula

Amount worth= Present value in IRA*(Annual rate increase)^ Numbers of years until retirement

Let plug in the formula

Amount worth=5,000 *(1 + 0.08)^40 =

Amount worth=5,000*(1.08)^40

Amount worth =5,000*21.72452

Amount worth= $108,622.60

Therefore Janine's IRA will be worth $108,622.60 when she needs to start withdrawing money from it when she retires.

7 0
3 years ago
If plant assets of a manufacturing company are sold at a gain of $1,000,000 less related taxes of $350,000, and the gain is not
alekssr [168]

Answer:

D. a gain of $1,000,000 and an increase in income tax expense of $350,000.

Explanation:

Given that

The gain is $1,000,000

And, the taxes is $350,000

So here the income statement that disclose the impact is that

There is a gain of $1,000,000 and also at the same time the income tax expense is rise by $350,000

Therefore the option d is correct

hence, the same would be considered

5 0
3 years ago
About how many Iphones were sold in 2016?
Bogdan [553]
About 18.65 million iphones were sold
5 0
3 years ago
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