Answer:
storefront businesses mean electricity bills, water bills, employee payments, while a website you usually pay one fee and get paid.
The sticker price for a new car takes into account the compensation made to the salesperson who managed the sale. This compensation is an example of what type of cost?
A): dealer cost
B): shipping cost
C): manufacturing cost
D): sales commission
Answer:
D
Explanation:
cuz its D
This compensation is an example of sales commission cost. Thus, option D is correct.
What is manufacturing cost?The expenses incurred during the creation of a product are known as manufacturing costs. Direct material, direct labor, and manufacturing overhead costs are included in these expenses. Normally, the costs are shown as separate line items in the revenue statement. These expenses are incurred by an entity during the production process.
The materials employed in a product's construction are referred to as direct materials. The amount of the production process's labor costs that is specifically attributed to a unit of production is known as direct labor. The application of manufacturing overhead costs to units of production depends on many alternative allocation schemes, such as the number of direct labor hours or machine hours used.
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Vaughn Manufacturing, has 14900 shares of 4%, $100 par value, cumulative preferred stock and 60000 shares of $1 par value common stock outstanding at December 31, 2021. There were no dividends declared in 2019. The board of directors declares and pays a $102000 dividend in 2020 and in 2021. What is the amount of dividends received by the common stockholders in 2021
Answer:
$25,200
Explanation:
The computation of the dividend received by the common stockholder for the year 2021 is shown below:
The Annual preferred dividend is
= 14,900 × $100 × 4%
= $59,600
Dividend due to preferred dividend in 2020
= Arrears of 2019 + Dividend of 2020
= $59,600 + $59,600
= $119,200
But the Dividend Paid in 2020 is $102,000
Arrears of dividend at the end of 2020 (Preferred) is
= $119,200 - $102,000
= $17,200
Now,
Dividend paid to preferred in 2021 = 2021 dividend + Arrears
= $59,600 + $17,200
= $76,800
Now Dividend paid to Common stockholders in 2021 is
= Total dividend - Dividend paid to preferred in 2021
= $102,000 - $76,800
= $25,200
During the current month, a company that uses job order costing purchases $52,000 in raw materials for cash. It then uses $22,000 of raw materials indirectly as factory supplies and uses $20,100 of raw materials as direct materials. Prepare journal entries to record these three transactions
Answer:
Account Title Debit Credit
Raw materials inventory $52,000
Cash $52,000
Account Title Debit Credit
Factory Supplies $22,000
Raw materials $22,000
Account Title Debit Credit
Work in Process inventory $20,100
Raw materials $20,100
Blaze operates a restaurant in Cleveland. He travels to Columbus to investigate acquiring a business. He incurs expenses as follows: $1,500 for travel, $2,000 for legal advice, and $3,500 for a market analysis. Based on the different tax consequences listed below, describe the circumstances that were involved in Blaze's investigation of the business.
Answer: See explanation
Explanation:
Here are the tax consequences listed below:.
1. Blaze deducts the $7000 of expense
2. Blaze cannot deduct any of the $7000 of expense.
3. Blaze deducts $5000 of the expenses and ammortizes the $2000 over a period of 180 months.
1. Blaze deducts the $7000 of expense
The entire expenses of $7000 can be deducted by Blaze because the expenses have been incurred for the investigation of the business acquiring.
2. Blaze cannot deduct any of the $7000 of expense
Blaze cannot be able to deduct any of the $7000 of expense in a case whereby the business that was investigated wasn't a restaurant and in this case, he didn't acquire it.
3. Blaze deducts $5000 of the expenses and ammortizes the $2000 over a period of 180 months.
In this case, the business wasn't a restaurant but he still ended up getting the business.
On April 1, 2020, Republic Company sold equipment to its wholly owned subsidiary, Barre Corporation, for $40,000. At the time of the transfer, the asset had an original cost (to Republic) of $60,000 and accumulated depreciation of $25,000. The equipment has a five year estimated remaining life. Barre reported net income of $250,000, $270,000 and $310,000 in 2020, 2021, and 2022, respectively. Republic received dividends from Barre of $90,000, $105,000 and $120,000 for 2020, 2021, and 2022, respectively. What was the amount of the credit to depreciation expense on the 2020 consolidation worksheet
Answer:
$750
Explanation:
Calculation for What was the amount of the credit to depreciation expense on the 2020 consolidation worksheet
2020 Credit to depreciation expense=[($60,000/5 years )-($60,000-$25,000/5 years)]/5 years*9/12
2020 Credit to depreciation expense=[($60,000/5 years )-($35,000/5 years)]/5 years*9/12
2020 Credit to depreciation expense=[($12,000-$7,000)/5 years*9/12]
2020 Credit to depreciation expense=$5,000/5 years*9/12
2020 Credit to depreciation expense=$750
Therefore the amount of the credit to depreciation expense on the 2020 consolidation worksheet is $750
Wearing a headset or earplugs while driving is legal
A. As long as you keep the volume down
B. For any person operating an authorized emergency vehicle
C. Even if you keep both ears covered
D. Only if your radio is broken
If a monopolist could perfectly price-discriminate: (LO1, LO4) a. The marginal revenue curve and the demand curve would coincide. b. The marginal revenue curve and the marginal cost curve would coincide. c. Every consumer would pay a different price. d. Marginal revenue would become negative at some output level. e. The resulting pattern of exchange would still be socially inefficient.
Answer:
a. The marginal revenue curve and the demand curve would coincide.
Explanation:
Monopolistic competition can be defined as the market structure which comprises of elements of competitive markets (having many competitors) and monopoly. Under monopolistic competition, organizations
If a monopolist could perfectly price-discriminate (LO1, LO4), the marginal revenue curve and the demand curve would coincide.
A pump has failed in a facility that will be completely replaced in 3 years. A brass pump costing $6000 installed will last 3 years. However, a used stainless steel pump that should last 3 more years has been sitting in the maintenance shop for a year. The pump cost $13,000 new. The accountants say the pump is worth $7000 now. The maintenance supervisor says that it will cost an extra $500 to reconfigure the pump for the new use and that he could sell it used ( as is) for $4000. (a) What is the book cost of the stainless steel pump
Answer: $7,000
Explanation:
The book value of the pump is the same as the value stated by the accountants.
The accountants are skilled in the field and most probably used accounting assessment techniques which were based on certain assumptions by accounting bodies so their valuation of the pump is to be considered the book value.
On July 1, 2020, Bonita Inc. made two sales.
1. It sold land having a fair value of $904,970 in exchange for a 4-year zero-interest-bearing promissory note in the face amount of $1,423,984. The land is carried on Bonita's books at a cost of $596,000.
2. It rendered services in exchange for a 3%, 8-year promissory note having a face value of $409,570 (interest payable annually).
Bonita Inc. recently had to pay 8% interest for money that it borrowed from British National Bank. The customers in these two transactions have credit ratings that require them to borrow money at 12% interest.
Record the two journal entries that should be recorded by Bonita Inc. for the sales transactions above that took place on July 1, 2020.
Answer:
Date Account Title Debit Credit
July 1, 2020 Notes receivable $1,423,984
Land $596,000
Discount on notes receivable $519,014
Gain on disposal $308,970
Working
Gain on disposal = 904,970 - 596,000 = $308,970
Discount on notes receivable = 1,423,984 - 596,000 - 308,970 = $519,014
Date Account Title Debit Credit
July 1, 2020 Notes receivable $409,570
Discount on Notes receivable $183,115
Service revenue $226,455
Working
Maturity value of Note = 409,570 / ( 1 + 12%)⁸ = $165,418
Interest payable = 3% * 409,570 = $12,287.10
Present value of interest payable = Interest * PVIFA, 12% , 8 years
= 12,287.10 * 4.9676 = $61,037
Service revenue = Maturity value of note + Present value of interest
= 165,418 + 61,037
= $226,455
The creation of a single market through regional economic integration offers significant opportunities because markets that were formerly protected from foreign competition are increasingly open.
a. True
b. False
Answer:
true
Explanation:
Entertainer's Aid plans five annual colossal concerts, each in a different nation's capital. The concerts will raise funds for an endowment which would provide the World Wide Hunger Fund with $3,000,000 per year into perpetuity. The endowment will be given at the end of the fifth year. The rate of interest is expected to be 9 percent in all future periods. How much must Entertainer's Aid deposit each year to accumulate to the required amount
Answer: $5,569,758.43
Explanation:
First you need to find the present value of the Perpetuity at the end of the fifth year.
Present value of Perpetuity = Amount / Interest rate
= 3,000,000 / 9%
= $33,333,333.33
Given an interest rate of 9%, Entertainer's aid should deposit an amount per year that would lead to the endowment having $33,333,333.33 at the end of the fifth year.
Future value of annuity = Annuity * Future value of annuity interest factor, 9%, 5 years
33,333,333.33 = Annuity * 5.9847
Annuity = 33,333,333.33 / 5.9847
= $5,569,758.43
MyPillow uses television advertising and wanted to see whether the TV ads reached more viewers during the daytime spots or the prime-time spots. MyPillow wanted to adjust its TV spots to reach the greatest number of viewers. To get real-time reactions, MyPillow decided to conduct mobile market research because _______. a. most people do not multitask using smartphones b. using a mobile app is difficult and confusing c. most people do not use their desktop computers while watching TV d. fewer respondents are reached than in conducting telephone research
Answer:
c
Explanation:
If MyPillow wants to get real time update, it means it wants to get update as people are watching tv. In order to reach its audience, it would be right to reach them on the medium they use while watching tv. If most people do not use their desktop computers while watching TV , it would not be appropriate to use desktop computers.
But if people watch tv and use their phone, the appropriate means of carrying this research is through mobile.
The trial balance for Pioneer Advertising Inc. is shown below.
PIONEER ADVERTISING INC.
Trial Balance
October 31, 2017
Debit Credit
Cash $14,000
Supplies 2,300
Prepaid Insurance 700
Equipment 4,500
Notes Payable $4,600
Accounts Payable 2,100
Unearned Service Revenue 1,200
Common Stock 7,200
Retained Earnings –0–
Dividends 500
Service Revenue 11,600
Salaries and
Wages Expense 3,900
Rent Expense 800
$26,700 $26,700
Assume the following adjustment data.
1. Supplies on hand at October 31 total $700.
2. Expired insurance for the month is $300.
3. Depreciation for the month is $80.
4. Services related to unearned service revenue in October worth $600 were performed.
5. Services performed but not recorded at October 31 are $300.
6. Interest accrued at October 31 is $90.
7. Accrued salaries at October 31 are $1,200.
Prepare the adjusting entries for the items above assuming financial statements are computed each month. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
No. Date Account Titles and Explanation Debit Credit
1. Oct. 31
2. Oct. 31
3. Oct. 3
4. Oct. 31
5. Oct. 31
6. Oct. 31
7. Oct. 31
Answer:
Adjusting Entries
October 31, 2017
Supplies expense Dr $1600 ($2300-$700)
Supplies Cr $1600
October 31, 2017
Insurance expense Dr $300
Prepaid insurance Cr $300
October 31, 2017
Depreciation expense Dr $80
Accumulated depreciation Cr $80
October 31, 2017
Unearned Service Revenue Dr $600
Service Revenue Cr $600
October 31, 2017
Accounts Receivable Dr $300
Service Revenue Cr $300
October 31, 2017
Interest Expense Dr $90
Interest payable Cr $90
October 31, 2017
Salaries and Wages Expense Dr $1200
Salaries and Wages Payable Cr $1200
The income statement for the month of June, 2018 of Sarasota Enterprises contains the following information:
Revenues $6740
Expenses:
Salaries and Wages Expense $2900
Rent Expense 1530
Advertising Expense 740
Supplies Expense 270
Insurance Expense 110
Total expenses 5550
Net income $1190
The entry to close the expense accounts includes a:_______
a) debit to Salaries and Wages Expense for $2900.
b) credit to Rent Expense for $1530
c) debit to Income Summary for $1190.
d) credit to Income Summary for $5550.
Answer:
b) credit to Rent Expense for $1530
Explanation:
Date Accounts and Explanation Debit Credit
Income Summary $5,550
Salaries & Wages Expense $2,900
Rent Expense $1,530
Advertising Expense $740
Supplies Expense $270
Insurance Expense $110
(To Close the expense accounts)
Quick answer needed!
Criminal Law means..
A. Power of a court to decide a case
B. Group of laws defining and setting punishments for offenses against society
C. Law dictated from above
A company purchased a new delivery van at a cost of $58,000 on January 1. The delivery van is estimated to have a useful life of 4 years and a salvage value of $4,600. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31
Answer:
Annual depreciation= $13,350
Explanation:
Giving the following information:
Purchase price= $58,000
Useful life= 4 years
Salvage value= $4,600
To calculate the annual depreciation using the straight-line method, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (58,000 - 4,600) / 4
Annual depreciation= $13,350
Marketers for a chain of office supply stores notice that sales of notebooks,
pens, and other supplies used by students jump every August as families
prepare for school. How should this observation affect the schedule of ads
for these products?
A. They should expose audiences to three ads for these products in
August
B. They should advertise these products more heavily in August.
C. They should not let the temporary spike in sales affect their
planning.
D. They should not bother advertising these products in August.
Marketers for a chain of office supply stores notice that sales of notebooks, pens, and other supplies used by They should advertise these products more heavily in August Option(b) is correct.
What does Advertisement means?The meaning of Advertising is an industry used to call the consideration of general society to something, regularly an item or administration.
The meaning of notice is the method for correspondence wherein an item, brand or administration is elevated to a viewership to draw in interest, commitment, and deals.
Commercials (frequently abbreviated to promotions or adverts) come in many structures, from duplicate to intuitive video, and have developed to turn into a significant component of the application commercial center.
Commercials are a reliable strategy for contacting a group of people. By making a connecting promotion, and spending to the point of arriving at your objective clients, ads can quickly affect business.
Therefore Option(b) is correct.
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Answer:
Explanation:
just took the test!
I need help with this question
Answer:
still need help ?
Explanation:
Answer:
true
Explanation:
Parker, Inc. has a cash balance of $20,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows:
April May June
Cash collections 25000 24000 24000
Cash payments:
Purchases of direct materials 4000 5300 6200
Operating expenses 5300 6000 5300
There are no budgeted capital expenditures during the quarter. Based on the above data, calculate the projected cash balance at the end of April.
a. $41,000
b. $35,000
c. $45,000
d. $25,000
Answer:
$35,700
Explanation:
Projected cash balance at the end of April = Cash Balance at the beginning of the month + Total cash collection in the month - Total cash payments during the month
Projected cash balance at the end of April = $20,000 + $25,000 - ($4,000 + $5,300)
Projected cash balance at the end of April = $35,700.
Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $243,600 and 8,600 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $244,600 and actual direct labor-hours were 5,900.The applied manufacturing overhead for the year was closest to:
Answer:
The applied manufacturing overhead for the year was closest to $167,147
Explanation:
Overheads rate = $243,600/ 8,600 = $28.33
Applied manufacturing overhead = $28.33 x 5,900
The applied manufacturing overhead for the year was closest to $167,147
You would like to estimate the weighted average cost of capital for a new airline business. Based on its industry asset beta, you have already estimated an unlevered cost of capital for the firm of 10%. However, the new business will be 22% debt financed, and you anticipate its debt cost of capital will be 6%. If its marginal corporate tax rate is 31% and effective tax rate is 20%.
Required:
What is your estimate of its WACC?
Answer: 9.32%
Explanation:
The cost of levered capital is needed to calculate WACC.
Cost of levered capital = Cost of unlevered capital + (Cost of unlevered capital - cost of debt)(1 - tax) * Debt to equity ratio
Debt-equity ratio
= 22% / (100% - 22%)
= 28.205%
Cost of levered capital = 10% + (10% - 6%) * (1 - 31%) * 28.205%
= 10.78%
WACC = (Weight of debt * after tax cost of debt) + (Weight of capital * cost of capital)
= (22% * 6% *(1 - 31%)) + (78% * 10.78%)
= 9.32%
Mateo Inc. had the following inventory situations to consider at January 31, its year-end.
(a) Goods held on consignment for Schrader Corp. since December 12.
(b) Goods shipped on consignment to Lyman Holdings Inc. on January 5.
(c) Goods shipped to a customer, FOB destination, on January 29 that are still in transit.
(d) Goods shipped to a customer, FOB shipping point, on January 29 that are still in transit.
(e) Goods purchased FOB destination from a supplier on January 25, that are still in transit.
(f) Goods purchased FOB shipping point from a supplier on January 25, that are still in transit.
(g) Office supplies on hand at January 31.
If the item should not be included in inventory, state in what account, if any, it should have been recorded?
Answer and Explanation:
The explanations are as follows:
a) If the goods held on consignment for someone else so the same would not be involved as it would be included in S Corp inventory
(b) It Should be included.
(c) It Should be included.
(d) It Should not be included.
(e) It Should not be included. It would be included in supplier inventory
(f) It Should be included.
(g) It should be included in the office supplies only
a crawling peg is a system where the exchange rate is constantly devalued true or false
Answer:
False
Explanation:
A crawling peg is a system of exchange rate adjustments in which a currency with a fixed exchange rate is allowed to fluctuate within a band of rates.
Select the correct answer.
A farmer uses one pound of fertilizer to grow crops on his land. He decides to increase the amount of fertilizer added to the soll to three pounds
to obtain a greater yield. The size of the garden and the amounts of seeds, water, and sunlight remain the same. The farmer keeps increasing
the amount of fertilizer (to four, five, and six pounds, etc.), and continues to gain higher yields. However, since the other factors of production
remain constant, the increase in crop yleld is lower than the increase in a single factor of production (fertilizer). What is the term for this
phenomenon?
OA
economic order quantity (EOQ)
OB.
law of diminishing returns
Ос. .
economy of scale
OD
labor productivity
O E production control
Answer:A
Explanation: bc i am a nerd xd
Your firm’s biggest client is coming to town today. You have been assigned the important task of showing him the town and being his host while he is here. You have done your research on him. His biography, posted on the Internet, portrays him as a philanthropist and family man. On his first night in town, he asks you to find female entertainment for him. You ask your boss what this means. Your boss says, "It means what you think it means. Keep him happy. He’s really important to the firm . . . and to your year-end bonus." You feel conflicted about your next steps.
Required:
What best describes this situation?
Answer:
Ethical dilemma
Explanation:
This scenario causes a situation of ethical dilemma or also known as ethical paradoxes or moral dilemma. In ethical dilemma both the available choices are wrong and are conflicting with each other the decision between right and wrong is ethics, but when such a situation arises the decision is to be taken by the person facing this ethical dilemma and his/her actions solely depends on the moral choices of the person and his/her views about ethics.
There are two closing entries. The first one is to close ____ and ____ to ______; second, close ____ to ____. a. expenses, assets, retained earnings, capital stock, dividends b. revenues, expenses, retained earnings; dividends, retained earnings c. dividends, retained earnings, expenses; revenues, retained earnings d. retained earnings, dividends, revenue; assets, liabilities
Answer: B. revenues, expenses, retained earnings; dividends, retained earnings
Explanation:
Closing entries simply refers to the journal entries that are made by an economic entity at the end of a particular accounting period which is then moved from the temporary accounts with regards to the income statement to the permanent accounts which are on the balance sheet.
There are two closing entries which includes closing revenues, and expenses, to retained earnings and secondly, close the dividends, to the retained earnings .
A nominal scale contains _____. the properties of classification, order, equal distance, and unique origin mutually exclusive and collectively exhaustive categories as well as the property of order, but not distance or unique origin mutually exclusive and collectively exhaustive categories, but without the properties of order, distance, and origin the four major sources of error the properties of order, classification, and equal distance between points but no unique origin
Answer:
mutually exclusive and collectively exhaustive categories, but without the properties of order, distance, and origin
Explanation:
Nominal Scale can be regarded as measurement scale which utilize numbers as tags/ label in classification of object. It is a scale that handles
non-numeric variables. It should be noted that nominal scale contains mutually exclusive and collectively exhaustive categories, but without the properties of order, distance, and origin
Arnold Vimka is a venture capitalist facing two alternative investment opportunities. He intends to invest $1 million in a start-up firm. He is nervous, however, about future economic volatility. He asks you to analyze the following financial data for the past year’s operations of the two firms he is considering and give him some business advice.Company Name
Larson Benson
Variable cost per unit (a) $ 18.00 $ 9.00
Sales revenue (8,100 units × $31.00) $ 251,100 $ 251,100
Variable cost (8,100 units × a) (145,800 ) (72,900 )
Contribution margin $ 105,300 $ 178,200
Fixed cost (25,000 ) (97,900 )
Net income $ 80,300 $ 80,300
Required:
1. Use the contribution margin approach to compute the operating leverage for each firm.
2. If the economy expands in coming years, Larson and Benson will both enjoy a 11 percent per year increase in sales, assuming that the selling price remains unchanged. Compute the change in net income for each firm in dollar amount and in percentage. (Note: Since the number of units increases, both revenue and variable cost will increase.)
3. If the economy contracts in coming years, Larson and Benson will both suffer a 11 percent decrease in sales volume, assuming that the selling price remains unchanged. Compute the change in net income for each firm in dollar amount and in percentage. (Note: Since the number of units decreases, both total revenue and total variable cost will decrease.)
Answer:
Arnold Vimka
1. Operating leverage, using the contribution margin approach:
Larson Benson
Operating leverage 1.31 2.22
2. Change in net income for each firm in dollar amount and in percentage, following 11% increase in the units sold:
Larson Benson
Variable cost per unit (a) $ 18.00 $ 9.00
Sales revenue (8,991 units × $31.00) $278,721 $ 251,100
Variable cost (8,991 units × a) (161,838 ) (80,919 )
Contribution margin $ 116,883 $ 170,181
Fixed cost (25,000 ) (97,900 )
Net income $ 91,883 $ 72,281
Net income $ 80,300 $ 80,300
Change in net income ($) $11,583 ($8,019)
Change in net income (%) + 14.42% -9.99%
3. Change in net income for each firm in dollar amount and in percentage, following 11% decrease in the units sold:
Larson Benson
Variable cost per unit (a) $ 18.00 $ 9.00
Sales revenue (7,209 units × $31.00) $ 223,479 $ 223,479
Variable cost (7,209 units × a) (129,762 ) (64,881 )
Contribution margin $ 93,717 $ 158,598
Fixed cost (25,000 ) (97,900 )
Net income $ 68,717 $ 60,698
Net income $ 80,300 $ 80,300
Change in net income($) -$11,583 ($19,602)
Change in net income (%) -14.42% -24.4%
Explanation:
a) Data and Calculations:
Larson Benson
Variable cost per unit (a) $ 18.00 $ 9.00
Sales revenue (8,100 units × $31.00) $ 251,100 $ 251,100
Variable cost (8,100 units × a) (145,800 ) (72,900 )
Contribution margin $ 105,300 $ 178,200
Fixed cost (25,000 ) (97,900 )
Net income $ 80,300 $ 80,300
Contribution margin approach to computing the operating leverage:
= Contribution margin/net operating income
Larson Benson
Contribution margin $ 105,300 $ 178,200
Net operating income $ 80,300 $ 80,300
Operating leverage 1.31 2.22
Journalize the following transactions in the accounts of Sedona Interiors Company, a Restaurant Supply Company that uses the allowance method of accounting for uncollectible receivables: May 1. Sold merchandise on account to Beijing Palace Co., $18,900. The cost of the merchandise sold was $11,200. Aug. 30. Received $8,000 from Beijing Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Dec. 8. Reinstated the account of Beijing Palace Co. that had been written off on August 30 and received $10,900 cash in full payment.
Answer:
May 1
Dr Account receivable-Beijing Palace Co., $18,900
Cr Sales $18,900
May 1
Dr Cost of goods sold $11,200
Cr Merchandise inventory $11,200
Aug. 30
Dr Cash $8,000
Dr Allowance for doubtful account $10,900
Cr Account receivable-Beijing Palace Co.$18,900
Dec. 8
Dr Account receivable-Beijing Palace co.$10,900
Cr Allowance for doubtful account $10,900
Dec. 8
Dr Cash $10,900
Cr Account receivable-Beijing Palace Co. $10,900
Explanation:
Preparation of the Journal entries in the accounts of Sedona Interiors Company
May 1
Dr Account receivable-Beijing Palace Co., $18,900
Cr Sales $18,900
May 1
Dr Cost of goods sold $11,200
Cr Merchandise inventory $11,200
Aug. 30
Dr Cash $8,000
Dr Allowance for doubtful account $10,900
($18,900-$8,000)
Cr Account receivable-Beijing Palace Co.$18,900
Dec. 8
Dr Account receivable-Beijing Palace co.$10,900
Cr Allowance for doubtful account $10,900
Dec. 8
Dr Cash $10,900
Cr Account receivable-Beijing Palace Co. $10,900
A restaurant chain hires two new restaurant managers. One manager is a woman, and one is a man. Both candidates are equally qualified for their positions. The restaurant chain owner wanted to save money and so he offered the job to the woman at a salary $10,000 lower than what he offered the man. This is a violation of The Equal Pay Act of 1963. Which entity, of notified, would enforce the Equal Pay Act of 1963 on behalf of these employees
Answer:
Equal Employment Opportunity Commission
Explanation:
The entity that would be involved in this case is the the EEOC. That is the equal employment opportunity commission. The violation that has occurred here is that both the man and the woman are equally qualified for this job but the owner wants to pay the woman a smaller salary compared to what he wants to pay the man. The EEOC handles such matters of discrimination to employees and workers based on gender, race, religion etc.