Annie Adams is a 19-year-old accounting clerk with Quijen Accounting Solutions. During the first month of her employment with a firm, she noticed that she received $369.75 for her first semimonthly pay covering 87 regular hours. Did the employer pay her correctly? Explain.
What will be an ideal response?
Yes. An employee who is less than 20 years of age may be paid $4.25/hour for the first 90 days of employment.
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The accounting principle that assumes that inflation will not take place or will be immaterial is:
a. monetary unit. b. historical cost. c. realization. d. going concern. e. None of the answers are correct.
Indicate on the blanks below the letter of the type of activity (O = operating activity, F = financing activity, I = investing activity, N = noncash transaction) each of the following transactions represents. _____ 1. Firm sold 8,000 shares of its own common stock for cash. _____ 2. Sold $200,000 worth of products for cash. _____ 3. Paid $120,000 dividend. _____ 4. Received $1,500 in interest
income. _____ 5. Exchanged 6,000 shares of stock for 15-year bonds. _____ 6. Paid $121,000 to the U.S. Treasury for income taxes. Fill in the blank(s) with correct word
The effort to sell better-quality products is known as ________
Fill in the blanks with correct word
For writing effective sentences, writers can use planned repetition of words to emphasize important points
Indicate whether the statement is true or false