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2 years ago

A commission employee derives their income from the number of items or goods that they produce. True or Flase

1 answer:

4 0

This statement is "false" or the second option. A commission employee is a person who additional compensation the employee receives for exceeding expectations. Therefore a commission employee cannot derives their income from the number of items or goods that they produce.

Hope this helps!

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A corporation reports the following year-end balance sheet data. The company's acid-test ratio equals:

Margaret [11]

Answer: 1.27

Explanation:

The acid test ratio of a company measure how well a company would be able to pay off its current liabilities using its most liquid current assets (current assets less inventory).

= (Cash + Accounts Receivable) / Current liabilities

= (40,000 + 55,000) / 75,000

= 95,000 / 75,000

= 1.27

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2 years ago

This video, carl describes paas, a type of cloud computing in which the customer provides the application software and data,

stepan [7]

Cloud computing company provides the information

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2 years ago

On December 31, 20X2 and 20X3, Apex Co. had 3,000 shares of $100 par, 5% cumulative preferred stock outstanding. No dividends we

Anarel [89]

Answer: the correct answer is a disclosure of $20,000

Explanation:

The annual preferred stock dividend is $15,000 = 3,000 x $100 x 5%. Total dividends in arrears at the end of 20X3 are therefore $20,000 = 2 years x $15,000 - $10,000 paid.

Dividends in arrears are footnoted only. They are not recognized as a liability until they are declared.

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2 years ago

The assets (what a business owns), liabilities (what a business owes), and capital (how much a

Sati [7]

Answer:

balance sheet

Explanation:

Businesses are required to prepare a balance sheet at the end of every financial year. The balance reports the net worth of a company. It lists all the assets and their values on one side and liabilities and equity on the side. The balance sheet follows the accounting equation to indicate the total assets on one side. It shows how the assets have been financed through liabilities and equity.

8 0

2 years ago

Tops Co. purchases equipment for $12,000 and has been using straight-line depreciation, estimating a 5-year life and $500 salvag

ololo11 [35]

Answer:

Annual depreciation= $1,850

Explanation:

Giving the following formula:

Purchase price= $12,000

Salvage value= $500

Useful life= 5 years

First, we need to calculate the annual depreciation and accumulated depreciation:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (12,000 - 500) / 5

Annual depreciation= 2,300

Accumulated depreciation (2 years)= 2,300*1= 4,600

Now, we can determine the annual depreciation with a 4 more years of useful life:

Book value= 12,000 - 4,600= 7,400

useful life= 4 years more

Annual depreciation= 7,400/4

Annual depreciation= $1,850

6 0

2 years ago