What is salary system?

Answers

Answer 1

Answer:

Salary systems – also referred to as compensation plans or pay structure – are a collection of steps, policies and practices employers use to pay employees for their work. Salary systems consist of more than producing a weekly, biweekly or bimonthly paycheck.

Explanation:


Related Questions

The direct write-off method: multiple choice follows the expense recognition (matching) principle. Is not permitted under GAAP. is permitted if results are similar to the allowance method. Is permitted if results are not similar to the allowance method.

Answers

Answer: is permitted if results are similar to the allowance method

Explanation:

The direct write-off method is refered to as an accounting method whereby the uncollectible accounts receivable are being written off as bad debt. Here, the bad debts expense account will be debited while the accounts receivable will be credited.

The direct write-off method is permitted if results are similar to the allowance method. For the allowance method, it should be noted that an estimation of the bad debt future amount will be charged to the reserve account once the sale takes place.

One of Hawk Company's customers returned products that cost Hawk $500, which was sold on account for $800. Which of the following correctly describes the affect of the return on the financial statements? Group of answer choices Gross profit decreases $800. Total current assets decrease $300. Sales returns and allowances increase $300. Net sales increase $300.

Answers

Answer:

Total current assets decrease $300

Explanation:

Based on the information given what correctly describes the effect of the return on the financial statements will be: TOTAL CURRENT ASSETS DECREASE $300 which is calculated as ($800-$500) reason been that INVENTORY INCREASES with the amount of $500 while ACCOUNTS RECEIVABLE on the other had DECREASES with the amount of $800 leading to DECREASE IN TOTAL ASSETS of the amount of $300.

Which of the following is/are subject to the restrictions of the fair debt collection practice act

Answers

The available options are:

A. Amelia, a business creditor attempting to collect her own debt from Bednar, a private party customer who had fallen six-months behind on payments to Amelia.

B. Mees, the owner of a debt collection agency, who is attempting to collect a debt as an agent of Big Corporation.

C. Nichole, a business creditor attempting to collect her own debt from Jared Incorporated, a business debtor that had fallen one-year behind on payments to Nichole.

D. The restrictions of the FDCPA would apply to Amelia the business creditor, Nichole the business creditor and Mees, the debt collection agent.

Answer:

B. Mees, the owner of a debt collection agency, who is attempting to collect a debt as an agent of Big Corporation.

Explanation:

The restrictions of the fair debt collection practice act apply only to the "DEBT COLLECTORS who obtain an account for a collection of debt that belongs to another company."

This is defined by the Federal Trade Commission (FTC) under the Fair Debt Collection Practices Act, Section 803, subchapter 6. The term DEBT COLLECTOR is carefully defined in six categories, and it does not involve business creditors attempting to collect their debt by themselves, the closest is their employees attempting to collect the debt on their behalf.

Hence, considering the available options, the correct answer is "Mees, the owner of a debt collection agency, who is attempting to collect a debt as an agent of Big Corporation."

Define and explain SMART?

Answers

Answer:

smart is a acronym that's stand for specific, measurable, achievable, realisticand timely .....

The following financial statement information is available for Houser Corporation: 2012 2011 Inventory $ 44,000 $ 43,000 Current assets 81,000 106,000 Total assets 432,000 358,000 Current liabilities 30,000 36,000 Total liabilities 102,000 88,000 The current ratio for 2012 is Group of answer choices .37:1. 2.7:1. .79:1. 4.24:1.

Answers

Answer:

2.7:1

Explanation:

Calculation to determine what The current ratio for 2012 is

Using this formula

The current ratio for 2012= Current assets/Current liabilities

Let plug in the formula

Current ratio for 2012= ($81,000/$30,000)

Current ratio for 2012=2.7:1

Therefore The current ratio for 2012 is 2.7:1

The evolution of the marketing concept can be explained best by the shift from a seller's market in which demand exceeds supply to a buyer's market in which supply exceeds demand.

a. True
b. False

Answers

Answer: True

Explanation:

The evolution of marketing implies the gradual development with regards to marketing over the years. It is explained as the shift from a seller's market where demand is more than the supply to a buyer's market where the supply is more than the demand.

There are three main stages with regards to the evolution of marketing and these are production concept, selling concept and the marketing concept.

how JSE reported the negative impact of the coronavirus on the economic conditions of South Africa

Answers

Answer:

Don't know bro soooooooooory

Explanation:

Llll

Barry Boots Inc. is considering adding a new line of boots. Based on preliminary market research, management has decided that each pair of boots should be priced at $300. Furthermore, management believes that the profit margin should be 30 percent of sales revenue.
What is the target cost?
a. $150.75
b. $225.50
c. $260.00
d. $157.50

Answers

Answer:

the target cost is $210

Explanation:

The computation of the target cost is shown below;

Given that

sale price   = $300

Profit margin = 30%

Now

Profit = $300 × 30%

= $90

Since the profit is $90

So, the Cost is

= sales - profit

= $300 - $90

= $210

hence, the target cost is $210

This is the answer but the same is not provided in the given options

An insurer sells a one-year policy to many people with the following loss distributions:Size of loss Probability of loss50,000 0.00530,000 0.0110,000 0.025,000 0.050 0.915Assume:1) The fair premiums, the administrative expenses and the profit loading are all paid at the beginning of the year;2) The claims are paid one year later;3) The interest rate is 8%;4) The administrative expenses are assumed to be 10% of the fair premiums;5) The profit loading is assumed to be 5% of the expected claim costs.Find the fair premium for the policy.

Answers

Answer:

Explanation:

The table can be computed as follows:

Size of loss       Probability of loss

50000                 0.005

30000                  0.01

10000                  0.02

5000                    0.05

0                           0.915

The expected claim for the cost can be calculated by multiply each of the loss sizes with their corresponding probability loss.

i.e.

[tex]= [50000 \times 0.005] + [30000 \times 0.01] + [10000 \times 0.02] + [5000 \times 0.05] + [0 \times0.915][/tex]

[tex]= 250 + 300 + 200 + 250 + 0[/tex]

[tex]= 1000[/tex]

Following the given assumptions:

The fair premium(X) of the policy is calculated as follows:

[tex]X= \dfrac{Expected \ Claim }{(1 + interest \ rate ) }+(Administrative \ Exp.\times X )+ exp. \ profit \ percentage[/tex]

[tex]X= \dfrac{1000}{(1 + 8\%)}+(10 \%\times X) +( 5\% \times 1000)[/tex]

[tex]X= \dfrac{1000}{(1 + 0.08)}+(0.1 X) + 50[/tex]

[tex]X-0.1X= \dfrac{1000}{(1.08)}+ 50[/tex]

0.9 X = 975.9259

X = 975.9259/0.9

Fair Premium (X) = 1084.36

As a manager, you are trying to decide how to best layoff 10% of your workforce. You are considering laying off the 10% who are the oldest in age, because you feel that they are closest to retirement anyway. Which of the following types of justice would you most likely violate the rules of by doing this?
A. Distributive
B. Procedural
C. Interpersonal
D. Informational

Answers

Answer:

B. Procedural

Explanation:

Remember, the procedural type of justice focuses on identifying the best way to treat others in a fair way, such as following the adhering to the rule of no bias when administering justice.

In this scenario, if the manager decides to select and lay off 10% of his workforce based on their age range, he would be unintentionally displaying an age bias in his selection process, which of course most likely violates the rules of this type of justice.

Which answer does not describe the benefits to the industry-wide practice of localization?
a) It is only used in the game industry
b) It creates wide audience appeal
c) It is time-saving
d) It is cost-effective

Answers

Answer:

a) It is only used in the game industry

Explanation:

The statement that does not describe the benefits to the industry-wide practice of localization is that "It is only used in the game industry."

This because Localization in business or industry practice is a means or process of modifying a product or service to fulfill the needs of a specific area or locality in terms of language, culture, or targeted population's perceptions.

Hence, it doesn't apply to the GAME INDUSTRY alone but rather to every industry.

Also, there are lots of advantages of Localization of products, which includes wide acceptance across the targeted audience, time-saving, as it focuses on a particular region, and cost-effective as the target population can be easily satisfied compared to satisfy global market all in one product make up style.

Your company has an average inventory of $70 million. Annual cost of goods sold (COGS) is $280 million. Profit in the most recent year was $140 million. What are annual inventory turns for your company

Answers

Answer:

the annual inventory turns for your company is 4 times

Explanation:

The computation of the annual inventory turns is shown below:

= Annual cost of goods sold ÷ average inventory

= $280 million ÷ $70 million

= 4 times

Hence, the annual inventory turns for your company is 4 times

Therefore the above formula should be applied and the same should be used

This tutorial comprises of two sections. Answer all the questions.

Section A

1. Marketing Sciences Ltd specialize in carrying out product trials for the companies such as Tesco, GlaxoSmithKline and Vodafone.

a) Business carries out product trials on new products in order to

A) Guarantee sales levels

B) Assess levels of demand

C) Achieve economy of sales

D) Collect secondary research

Answer:

b) Explain why this answer correct?

Answers

Answer:

a)

D) Collect secondary research

b) By testing products, a company can collect more information for statistics and parts of each product.

illings and collections between an Enterprise Fund and the General Fund A city uses an Enterprise Fund to provide electricity to its citizens and to its General Fund. A total of $50,000 was billed to the General Fund and collected 30 days later. Prepare the journal entries necessary to record these transactions, and label the fund(s) used. Note: Under the Fund column, select the appropriate fund in which the transaction is recorded (GF: General Fund or ISF: Internal Service Fund).

Answers

Answer:

Enterprise Fund due from General Fund (Dr.) $50,000

Revenue from service (Cr.) $50,000

Explanation:

The enterprise fund is used to provide electricity to the citizens. The revenue will be recorded as service charges for providing the electricity. Enterprise fund will be due from General fund which is billed for $50,000.

Suppose that the money supply of a country is $75 billion and the velocity of money is 3. The economy's total production quantity is 522 billion units. Instructions: In part a, round your answer to 2 decimal places. In part b, enter your answer as a whole number.
a. According to monetarist thought, what will be the average price of a good produced in this economy?
b. What is this country's GDP?

Answers

Answer:

      a. $0.43

      b. $224.46 billion

Explanation:

a. Monetarists subscribe to the Quantity theory which is:

Money Supply * Velocity = Average price * Total production quantity

So, average price is:

Average Price = (Money Supply * Velocity) / Total production quantity

Average price = (75 * 3) / 522

= $0.43

b. The GDP is the final value of goods and services produced in the country so the GDP is:

= Price level * Total Production quantity

= 0.43 * 522 billion

= $224.46 billion

You are planning to make monthly deposits of $90 into a retirement account that pays 10 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 19 years?

Answers

Answer:

$71,644.27

Explanation:

Future value of the deposit in 19 years = Monthly deposit * [(1 + interest rate/12)^12*No. of years - 1] / (interest rate/12

= $90 * [(1 + 10%/12)^12*19 - 1] / (10%/12)

= $90 * [6.63346333924 - 1] / 0.008333

= $90 * 6.63346333924/0.008333

= $90 * 796.0474

= $71644.269835

= $71,644.27

Truck-Or-Treat specializes in leasing trucks to delivery companies. It is considering adding 25 more trucks to its available stock. Doing so will not change the risk of the company's business. The trucks depreciate over five years under the straight-line depreciation method, all the way to zero. Truck-Or-Treat believes that these newly added trucks would be able to bring the company $220,000 in annual earnings before taxes and depreciation (i.e., sales revenue minus costs of goods sold) for five years. The company is unlevered. It is in 21 percent tax rate bracket. The required annual rate of return on Truck-Or-Treat's unlevered equity is 15 percent. The risk-free rate, e.g., the Treasury bill rate, is 6 percent per year.

Required:
Calculate the maximum price that Truck-or-Treat should be willing to pay for the purchase of the new trucks if it remains an unlevered company. (In other words, what should be the "initial investment" of this unlevered truck project such that the project's NPV equals $0?

Answers

Answer:

The maximum price that Truck-or-Treat should be willing to pay for the purchase of the new trucks if it remains an unlevered company is $510,702.49.

Explanation:

Let:

x = Maximum price for the new truck = initial investment = ?

AEBTD = Annual earnings before taxes and depreciation = $220,000

T = Tax rate = 21%, or 0.21

n = Number of years = 5

Since the it is assumed that Truck-or-Treat remains an unlevered company, this implies the required annual rate of return on Truck-Or-Treat's unlevered equity of 15 percent is the relevant rate of return to use.

Therefore, we have:

r = required annual rate of return = 15%, or 0.15

D = Annual depreciation = Maximum price for the new truck / Number of useful years = x / 5 = 0.2x

P = Annual cash flow = ((AEDTD - D) * (1 - T)) + D = ((220000 - 0.2x) * (1 - 0.21)) + 0.2x = ((220000 - 0.2x) * 0.79) + 0.2x = 173,800 - 0.158x + 0.2x = 173,800 - 0.042x

Using the formula for calculating the present value (PV) of an ordinary annuity, we have:

PVP = Present value of annual cash flow = P * ((1 - (1/(1 + r))^n) / r) = (173,800 - 0.042x) * ((1 - (1/(1 + 0.15))^5) / 0.15) = (173,800 - 0.042x) * 3.3521550980114 = 582,604.56 - 0.140790514116479x

For the NPV of this unlevered truck project to be equal to $0, we must have:

x = PVP

That is:

x = 582,604.56 - 0.140790514116479x

Solving for x, we have:

x + 0.140790514116479x = 582,604.56

x(1 + 0.140790514116479) = 582,604.56

x1.140790514116479 = 582,604.56

x = 582,604.56 / 1.140790514116479 = $510,702.49

Therefore, the maximum price that Truck-or-Treat should be willing to pay for the purchase of the new trucks if it remains an unlevered company is $510,702.49.

An analyst feels that Brown Company's earnings and dividends will grow at 25% for two years, after which growth will fall to a constant rate of 6%. If the projected discount rate is 10%, and Brown's most recently paid dividend was $1, the value of Brown's stock using the multistage dividend discount model is closest to:____.
A. $31.25.
B. $33.54.
C. $36.65.

Answers

Answer:

C. $36.65

Explanation:

Calculation to determine what the dividend discount model is closest to:

Dividend discount model =$1(1.25) / 1.1 + [$1(1.25)2/ (0.10-0.06)] / 1.1

Dividend discount model = $36.65

Therefore the value of Brown's stock using the multistage dividend discount model is closest to:$36.65

The first step in the control process is ________. A) setting the desired morals
B) measuring actual performance
C) comparing performance against expectations D) applying managerial control

Answers

Answer:

comparing performance against expectations

Assume BarnesandNoble.com has 289 business math texts in inventory. During one month, the online bookstore ordered and received 1,855 texts; it also sold 1,222 on the web. What is the bookstore’s inventory at the end of the month? If each text costs $59, what is the end-of-month inventory cost?

Answers

Answer:

I don't wanna assume I'm just answering for them points

Uber is a tech company that connects its mobile phone app users who have a trip request with nearby Uber drivers who use their own cars. Because of its low cost and time efficiency, it has become a very popular means of transportation among college students. As new semester begins, many students have returned to Boston from their home. Analyze the effects on the Boston Uber market.
1. What happens to equilibrium price?
2. What happens to equilibrium quantity?

Answers

Answer:

1. The price for Uber services increases.

2. The quantity of Uber services sold increases.

Explanation:

As the college students use the uber so here the number of students are rised up that means the demand is more when the semester is started i.e. the price is more

Also the uber has one attribute i.e. surge pricing which represent the law of demand and the supply. In the case when the demand is more or the supply is less the price would increase

So overall the price and the quantity should increased

g A(n. ________ determines which areas of a firm's operations represent strengths or weaknesses (currently or potentially. compared to competitors. A. transactional analysis B. internal analysis C. structural analysis D. break-even analysis

Answers

Answer:

B. internal analysis

Explanation:

An internal analysis is the detailed examination with respect to the internal components of the company. It can be tangible or intangible like assets, process, etc. It helps to make the decision in an accurate manner also it identify the areas in which the growth or revised plan should be done. Moreover, it shows the strength and weakness of the company and the same should be compared to its rivalrs

Therefore, the option b is correct

As compared to a traditional income statement format, an income statement organized by cost behavior does not include:As compared to a traditional income statement format, an income statement organized by cost behavior does not include:

Answers

Complete Question:

As compared to a traditional income statement format, an income statement organized by cost behavior does not include:

a contribution margin.

b cost of goods sold.

c operating income.

d revenues

Answer:

As compared to a traditional income statement format, an income statement organized by cost behavior does not include:

b cost of goods sold.

Explanation:

Cost behavior describes the classification of costs into four main patterns because of the way they respond to changing activity levels.  The four basic cost behavior patterns are fixed, variable, mixed (semi-variable), and step.  These cost behavior patterns remain valid within the relevant production and sales range or activity level or volume.

The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2016, included the following income accounts: Account Title Debits Credits Sales revenue 2,720,000 Cost of goods sold 1,600,000 Selling and administrative expenses 440,000 Interest expense 60,000 Unrealized holding gains on investment securities 100,000 The trial balance does not include the accrual for income taxes. Lindor's income tax rate is 30%. 2 million shares of common stock were outstanding throughout 2016. Required: Prepare a single, continuous multiple-step statement of comprehensive income for 2016, including appropriate EPS disclosures. (Round EPS answers to 2 decimal places.)

Answers

Answer and Explanation:

The preparation of the single, continuous multiple-step statement of comprehensive income for 2016 is presented below;

Sales revenue $2,720,000

Less; cost of goods sodl $1,600,000

Gross profit $1,120,000

Less:

Operating expense

Selling and administrative expenses -$440,000

Operating income $680,000

Less: interest expense -$60,000

Income before income tax $620,000

Less: income tax expense (25% of $620,000) -$155,000

Net income $465,000

Other comphrensive income

Gain on debt securities (75% of $100,000) $75,000

Comphrensive income $540,000

Earning per share ($465,000 ÷ 2,000,000 shares) $0.23

Richie Rich has been approved for a 90% loan. Richie is under contract to purchase a home for $400,000 and put $5,000 earnest money down with the contract. If Richie's lender is charging 1% origination, 1% discount, and the title company fees total $1,350, how much does Richie need to bring to closing

Answers

Answer:

Richie Rich

The total amount that Richie needs to bring to closing the transaction is

= $43,550.

Explanation:

a) Data and Calculations:

Cost of home purchase contract = $400,000

90% loan to be given Richie = $360,000 ($400,000 * 90%)

Therefore, 10% will be provided by Richie = $40,000 ($400,000 * 10%)

Earnest money down payment = $5,000

Balance required from Richie = $35,000 +

Additional 1% of $360,000 for origination fee = $3,600 ($360,000 * 1%)

Additional 1 of $360,000 for discount = $3,600 ($360,000 * 1%)

Title charge = $1,350

Total amount that Richie needs to bring to closing the transaction = $43,550 ($35,000 + $3,600 + $3,600 + $1,350).

Cocoa nibs from Nigeria last year was supplied at $9 per 10 pounds. This year the demand has increased and that same supply of Nigerian cocoa nibs is priced at $12 per 10 pounds. What will most likely happen to supply of Nigerian cocoa nibs this year?
a. There will be an increase in quantity supplied.
b. There will be a decrease in quantity supplied.
c. The supply curve will shift to the left.

Answers

Answer:

Option "a" is correct.

Explanation:

Below is the given values:

The last year supply of Cocoa nibs at $9 = 10 pounds

This year the supply of Cocoa nibs at $12 = 10 pounds

The supply and price of a commodity are directly related to each other. Thus it is given that price increases from $9 to $12. So, the producer will induce to supply more quantity when the price increases.

Therefore, Option "a" is correct.

Park uses a perpetual inventory system. Determine the cost assigned to ending inventory and to cost of goods
sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Round per unit costs to
three decimals, but inventory balances to the dollar.) For specific identification, ending inventory consists of
225 units, where 90 are from the March 30 purchase, 80 are from the March 20 purchase, and 55 are from
beginning inventory.

Answers

Answer:

below

Explanation:

The price attributed to final inventory and cost of goods sold is specific identification.

Explain about the specific identification?

The method of precise identification concerns inventory valuation, specifically keeping track of each individual stock item and allocating costs per item rather than collectively. A company is functional and usable when it can identify, mark, and keep track of each item or unit in its inventory.

To track individual inventory items, the specific identification method is used. When individual items can be clearly identified, such as when they have a serial number, stamped receipt date, bar code, or RFID tag, this method is appropriate.

Employed by businesses like furniture shops, car dealerships, jewellery shops, and art galleries, among others. The main characteristic that sets the specific identification method apart from LIFO and FIFO techniques is individual tracking.

To learn more about specific identification refer to:

https://brainly.com/question/26871573

#SPJ2

Which strategy to minimize political vulnerability and risk has the advantage of engaging the power of several investors and banks in the host country whenever any kind of government takeover or harassment is threatened?

Answers

Answer:

expanding the investment base

Explanation:

In the case of expanding the Investment base it includes the different investors and the bank for the financing purpose with respect to the investment made in the host country. This would create an advantage for engaging the bank power at the time of takeover done by the government or harassment should be threatened

Beth owns a corporate office park in Ohio. Her ownership rights include the right to sell or give away the property without restriction, as well as the right to commit waste, if she chooses. Beth's ownership interest is:

Answers

Answer:

Fee Simple Absolute

Explanation:

The 6 types of modern freehold estates, distinguished by duration includes;

1. Fee simple absolute

2. Life estate

3. Fee tail

4. Fee simple determinable

5. Fee simple subject to a condition subsequent

6. Fee simple subject to an executory limitation

And also

The types of Fee Simple includes

A) Fee Simple Absolute

B) Defeasible Fees

Fee Simple Absolute

This is regarded as an absolute ownership. It is a never ending period of time with no hindrance or limitations on its inheritability. it also cannot be ended or shuffled on the happening of any event. It is also regarded as the right to possess now, even until the end of time.

Its characteristics includes:

1. The holder has all the rights or entitlement.

2. The duration is never ending that is, the interest is absolute because the interest will not end on the occurrence of an event or condition

3. There is no future interest that follows it

3. The owner has the right of possession, alienation, and exclusion

And others.

Maplewood Co. uses process costing to account for the production of canned energy drinks. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Cost per equivalent unit has been calculated to be $4.00 for conversion costs and $3.00 for materials. 2,000 units were in beginning inventory (100% complete for materials, 80% for conversion). 8,000 units were started and completed during the period. Ending inventory still in process was 4,000 units (100% complete for materials, 40% forconversion). The value of ending inventory using the FIFO method would be:______.
A. $18,400.00B. $23,133.20C. $31,933.20D. $65,000.00

Answers

Answer:

A. $18,400.00

Explanation:

The computation of the  value of ending inventory using the FIFO method would be shown below:

Value of ending inventory = Materials + Conversion costs

where,  

Materials = (4000 units × 100%) × $3 per unit

= $12,000

And,  

Conversion costs = (4000 units × 40%) × $4 per unit

= $6,400

So, the ending inventory is

= $12,000 + $6,400

= $18,400

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