Bob and Karin founded a luxury health spa located near a natural hot springs. They each owned 30% of the company, with the remaining 40% owned by other shareholders. There were many expenses in the first few years, but by year 4, the company was doing well and had a large base of steady customers. Both Bob and Karin work long hours at the spa and work at marketing and operational tasks. Last week, Bob had an offer from a New York entity to build a luxury spa in Upstate New York and was offered a huge salary. Bob is going to take the offer. Discuss the legal protections that could keep Karin from assuming all the work while Bob continues to gain benefit of the company’s growth.
What will be an ideal response?
The answer should recognize that a vesting clause would impose equity forfeitures if a cofounder did not stay with the company.
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Partner compensation is reported on the income statement but is not used to compute net income
a. True b. False Indicate whether the statement is true or false
________ refers to consumer or other respondent panels that are set up by marketing research companies for the explicit purpose of conducting online surveys with representative samples
A) Random online intercept sampling B) Invitation online sampling C) Online panel sampling D) Systematic online sampling E) Snowball sampling
A company web site provides product information to potential customer, therefore firms are spending more money to create attractive web page designs
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The payroll records of a company provided the following data for the weekly pay period ended December 7: EmployeeEarningsto End of Previous WeekGross PayFederal Income TaxesMedical Insurance DeductionUnion DuesUnited WayRonald Arthur$ 54,000$1,200$216$125$15$15John Baines 40,500 900 162 125 15 30Ted Carter 45,000 1,000 180 150 -0- 20The FICA social security tax rate is 6.2% and the FICA Medicare tax rate is 1.45% on all of this week's wages paid to each employee. The federal and state unemployment tax rates are 0.6% and 5.4%, respectively, on the first $7,000 paid to each employee. Prepare the journal entries to (a) accrue the payroll and (b) record payroll taxes expense.
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