JESTION 26 The LRA prohibits the employer from treating part-time employees differently from comparable employees, unless there is a justtifiable reason for doing so. Which category of employees and employers will be exclude from this? (Select all the correct categories) O Fixed-term employee O First six months of employment O Employees' on probation O Employers' with less than 10 employees Employees' working less than 24 hours per month O Employees' working less than 24 hours per week A business, being the only business of that employer, who has been in operation less than 2 years and who employs less than 50 employees
Q: The Austin Manufacturing Company is considering buying an overhead pulley system. The new system has…
A: After-tax cash flows are the cash inflows and outflows that are adjusted for the effect of taxes.…
Q: Vaughn Manufacturing, Inc. can produce 100 units of a component part with the following costs:…
A: Direct material = $21,500 Direct labor = $7,000 variable Overhead = $22,000 Fixed Overhead = $14,000…
Q: Under the traditional reporting method for infrastructure assets, which of the following are…
A: Infrastructure assets are an essential component of a business's long-term activities and need to be…
Q: Blue Company is constructing a building. Construction began on February 1 and was completed on…
A: Interest capitalization is adding the cost of borrowing to the cost of the asset because the funds…
Q: Alice is a limited partner in Axel Partnership. Her share of the partnership's current ordinary…
A: After-tax cash flow refers to the amount of cash that remains after deducting all taxes from a…
Q: The discussion of EFN in the chapter implicitly assumed that the company was operating at full…
A: Capital intensity ratio tells that how much are the fixed assets are required for maintaining sales…
Q: The following information pertains to the January operating budget for ABC Corporation: January…
A: NON MANUFACTURING BUDGET Non Manufacturing Cost are those Cost which is not Associated with the…
Q: Wildhorse Company's ledger shows the following balances on December 31, 2025. 8% Preferred stock-$10…
A: Under this condition, the preferred stockholders are entitled to receive the current year's dividend…
Q: On its December 31, 2019 balance sheet, Kent's Company appropriately reported a $20,000 credit…
A: Calculation of Unrealized Loss Security Cost $ Fair Value at 12/31/20 ($) Gain / (Loss) $ X…
Q: A new partner's agreed capital is the O amount credited to the new partner O bonus given to the new…
A: The partnership comes into existence when or more persons agree to do the business and further share…
Q: Required 1. Determine the plantwide overhead rate for Laval using direct labor hours as a base. 2.…
A: Manufacturing cost -is the cost of manufacturing or producing the products or services and includes…
Q: Adam, Bruce and Calvin were partners, sharing profits and losses in the ratio of 6:2:2. The…
A: Partnership means where two or more person comes together to run the business and share profit or…
Q: Cassie was an original investor in DEF LLC, a construction company. She owns a 20% interest in the…
A: In LLC, a member's basis is increased by cash contribution, property contribution, income from…
Q: Marvel Parts, Incorporated, manufactures auto accessories. One of the company's products is a set of…
A: Variance is a term used in budgeting. It is the difference between a budgeted or standard cost and…
Q: Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at…
A: Budgeting simply means preparing budgets. There are different types of budgets. Direct materials…
Q: The following information refers to questions 17 and 18 inclusively. On July 1, 2009 Canuck Ltd.…
A: Exchange rate means the number of units of domestic currency given to get one unit of foreign…
Q: P15.8B (LO 5) (Computation of Basic and Diluted EPS) The information below pertains to Payson…
A: The portion of a company's profit that is allocated to each share of stock is known as earnings per…
Q: Compute estimated inventory at June 30 using the conventional retail inventory method.
A: Particulars Cost Retail Beginning inventory 43,040 64,000 Add: Purchase 1,38,560 1,78,880…
Q: Fisher Fixtures manufactures three types of lighting fixtures, with model names of Silver, Gold, and…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: SB Exercise E8-5 to E8-10 [The following information applies to the questions displayed below.]…
A: Budgeted Income Statement Budgeted Income Statement is a Statement that a company use to estimate…
Q: Foley Corporation has the following capital structure at the beginning of the year: Share capital…
A: The dividend is declared to the shareholders from the retained earnings of the business. The net…
Q: egon Co.'s employees are eligible for retirement with benefits at the end of the year in which both…
A: Companies provide the retirement options to the employees and companies make provisions for that in…
Q: Peter, James, and John are partners with capital investments of P450,000, P350,000 and P500,000…
A: The total partnership capital is the sum of all the capital balance of the old partners plus the…
Q: Record each of the following transactions and events of Hertz Note: Round to nearest whole dollar.…
A: In accounting, a journal is a chronological record of all financial transactions that occur in a…
Q: Prepare the journal entries for these transactions, assuming that the common stock has a par value…
A: Organizations issue common stock to collect money for the establishment and running of the company.…
Q: On January 1, 2024, Oriole Ltd., which uses IFRS, entered into an eight-year lease agreement for a…
A: Lease is kind of arrangement where equipment can be used by payment of periodic payments and no…
Q: Crosby Company owns a chain of hardware stores throughout the state. The company uses a periodic…
A: INTRODUCTION:- This is a question related to inventory accounting using the periodic inventory…
Q: TipTop Flight School offers flying lessons at a small municipal airport. The school's owner and…
A: Flexible budget performance report is the one wherein all the revenue and spending, activity…
Q: The current asset section of Guardian Consultant's balance sheet consists of cash, accounts…
A: Debts To Equity Ratio = Debts / Shareholder Equity 1.4 = Total Debts / $2,500,000 Total Debts =…
Q: Rios Co. is a regional insurance company that began operations on January 1, 20Y2. The following…
A: Any brokerage paid while purchasing shares becomes part of investment and debited to the investment…
Q: Universal Foods issued 8% bonds, dated January 1, with a face amount of $160 million on January 1,…
A: Commercial organizations used journal entries to record their financial transactions in their…
Q: If the City of Sulphur bought $400,000 of supplies and used $300,000 in the current year, what is…
A: SUPPLIES Supplies is a Current Assets until it not utilised by the organisation. Supplies…
Q: Earnings and profits for purposes of corporate taxation are the same as ret earnings. Celect one:…
A: Retained earnings are earning available after payment to all and payment of dividends also and that…
Q: Dazzle Company purchased a new car for use in its business on January 1, 2020. It paid $28,000 for…
A: Depreciation Expense :— It is the allocation of depreciable cost over the life of asset.…
Q: I. V. Increases in retained earnings Extended terms obtained from key suppliers A term loan from its…
A: Company needs money for growth and expansion and money can be raised internally and may be raised…
Q: Barry and his wife Mary have accumulated over $4 million during their 45 years of marriage. They…
A: Gift tax is a tax on the transfer of property by one individual to another while receiving nothing,…
Q: P6.3 (LO 1, 2, 3), AP Excel Lavish Towel Company completely stocked out of its cotton yarn for…
A: Preparing Production Budget as follows: Production Budget Particulars Amount Budgeted sales…
Q: The following income statement and additional year-end information is provided. Sales Cost of goods…
A: Cash flow statement can be prepared by using two methods .One is Indirect method and other one is…
Q: Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions…
A: Total fixed costs will remain same at 400,000, $900,000 and $1,200,000 total sales. Variable costs…
Q: eta of 1.2, Stock B has a beta of 0.6, the expected rate of return on an average stock is 12…
A: Risk free rate = 7% Beta of A= 1.2 Beta of B = 0.6 Market rate = 12% Required return = Risk free…
Q: Han Company has three products in its ending inventory. Specific per unit data at the end of the…
A: Net Realizable value = Selling price - cost to sale Product 1 = $40 - $6 = $34 Product 2 = $120…
Q: plaski Company manufactures and sells a single product called a Ret. Operating at capacity, the…
A: The term financial advantage refers to the amount of the incremental profit that the company would…
Q: ollowing information applies to the questions displayed below.
A: Transaction/ Adjustment Current Assets Non Current Assets Current Liabilities Non Current…
Q: Required information [The following information applies to the questions displayed below.] The Shirt…
A: As per FIFO method, the sales of 930 T-shirts is from:- Particulars Units Amount Jan 20th…
Q: Early in 2025, Swifty Equipment sold 500 Rollomatics at $5,500 each. During 2025, Swifty spent…
A: Answer:- Journal entry:- In the company's books, a journal entry serves as a record of a business…
Q: More info 1. On February 1, Braun sold the vehicles to Direct Produce, Inc. for$20,000. 2. On March…
A: Tangible fixed assets are the resources the companies employ in order to generate revenues spanning…
Q: Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and…
A: Absorption costing method:— Under this method, product cost is calculated by adding direct material,…
Q: How much discretionary Financing needed by Ford in 2021?
A: Discretionary funding is typically used to finance new projects, research and development,…
Q: A company's calendar-year financial data are shown below. The company had total assets of $339,000…
A: Ratios are the measures that are used to analyze the financial statements that are income statement…
Q: Prepare a partial balance sheet to show how the information related to this contract would be…
A: As per percentage of completion method, revenue and gross profit are recognized over time as per the…
Step by step
Solved in 4 steps
- Under IAS 19 on Employee Benefits, which of the following terms best describes other long-term employee benefits a. Benefits not falling due wholly within twelve months of the end of the period in which the service is rendered. b. Benefits which are payable after completion of employment c. Benefits payable as a result of an entity's decision to end an employment before the normal retirement care. d. Benefits which fall due within twelve months of the end of the period in which the service is rendered.Unless exempted under the appropriate legislation salaried employees are entitled to overtime for hours worked in excess of the minimum standards.. Select one: True FalseSection 5-EMPLOYEE DATA: FORM W-4 AND STATE WITHHOLDING 0ALLOWANCE CERTIFICATES How long does a new employee have to submit a completed W-4? How must the employer withhold FIT until the W-4 is received from a new employee? On March 2, 2020, Mischa submits a new W-4. If payday is Friday, what is the date of the first paycheck that must reflect Mischa’s new W-4? On March 23,2020, Paul submits a new W-4. If Paul is paid the last weekday of each month, what is the date of the first paycheck that must reflect Paul’s new W-4? On October 2, 2020, Janet starts a part-time job. She did not owe federal income tax in 2019 and does not expect to earn enough to pay federal income tax for 2020, so she claims exempt from federal income tax withholding on her 2020 Form W-4. Does Janet need to submit a W-4 in 2021? If so, by when—and how does her employer withhold if she does not do this?
- The employees are entitled to 10 days holiday leave per calendar year. Unused holiday leave may be carried forward until the employee leaves the employment of the entity, at which time the entity will pay the employee for all unused holiday leave. The holiday leave is. a termination benefit a postemployment benefit a short-term employee benefit other long-term employee benefitWhich of the following types of employee benefits are not covered by AASB 119/IAS 19? Select one: a. Annual leave. O b. Wages. OC. Long service leave. Od. Share-based payments. Time left 1:43:46 Re 1 10Which of the following statements are reasons employers may choose to delay eligibility of employees to participate in a retirement plan? 1. Employees do not start earning benefits until they become plan participants (except in defined benefit plans, which may count prior service). 2. Since turnover is generally highest for employees in their first few years of employment and for younger employees, it makes sense from an administrative standpoint to delay their eligibility. A. 1 only. B. 2 only. C. Both 1 and 2. D. Neither 1 nor 2.
- Which of the following types of payment are exempt from unemployment taxable wage base: a. Standby payments. b. Noncash Christmas gifts of significant value. c. A union's payment to its striking members. d. Bonuses.Which of the following compensation will be subject to graduated rates? a) Basic salary whether or not the employee is a minimum wage earner. b) Basic salary only if the employee is not a minimum wage earner. c) 13th month pay and other benefits not exceeding P90,000. d) Fringe benefits received by supervisory or managerial employeeIn the case where an employer is delinquent in paying contributions to the state for SUTA: a. experience ratings may be decreased. b. their employees may not be eligible to collect unemployment benefits. c. the employer may be required to contribute monthly rather than quarterly. d. a 100% penalty may be imposed.
- The maternity benefit of the female employee under RA 11210, otherwise known as the 105-day Expanded Maternity Leave Law, shall pertain to the: a) Full pay or full salary b) Actual cash benefit received from SSS c) Salary differential d) All of the aboveUnder ASC 710-10-25-1, an employer shall accrue a liability for employees' compensation for future absences if all the following conditions are met: I. The employer's obligation relating to employees' rights to receive compensation for future absences is attributable to employees' services already performed. II. The paid absence can be taken in a later year-the benefit vests (will be compensated even if employment is terminated) or the benefit can be accumulated over time. III. Payment of the compensation is probable. IV. The amount can be reasonably estimated. If the amount cannot be reasonably estimated, None of the other answers is correct. O There is no need to disclose it. The employer shall accrue a liability in balance sheet. The employer shall disclose it in the notes to financial statements.Question 32: What statement about Form l-9 is accurate? Answer: A. O The employee submits one or two documents to verify employment eligibility. В. O It was significantly revised and expanded in 2020. C. O A company submits this to request an EIN. D. O It is also referred to as Publication 15. Question 33: Match each incentive plan to its definition. Profit-sharing Employee receives a portion of the company's profits after exceeding a predetermined level DROP HERE Employee may purchase shares of the business after meeting predetermined goals Stock options DROP HERE Sabbaticals Paid leave after working a predetermined number of years DROP HERE Monies received for reaching a specific sales/production goal Cash incentives DROP HERE Question 34: Rachel is a server at a family restaurant in Omaha, NE. As a tipped employee, she receives an hourly wage that is less than the federal minimum wage. This week, her combined hourly wages and tips was less than the federal minimum wage. What happens…