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Sucked into a wormhole while spending time in outer space, you land in a perfect world where accountants are worshipped and paid extravagantly. As an accountant, you're immediately offered a job at a local manufactory firm. In additional to a huge salary, you're also entitled to a year-end bonus of 5% of the company's profit after deduction for the bonus. At the end of the year the profit amount to $500,000 before accounting for your bonus. You're been asked to calculate your year-end bonus. Assuming you're honest, what will you inform management your year-end bonus should be? Remember, this is a perfect world so no income taxes exist. Show your calculations and round the nearest dollar.
Q. What is dividend? One idea of the statement of retained earnings is to connect the income statement and the balance sheet. The statement of retained earnings describes the c
stion 8 of 20 5.0 Points Merchandise lists for $5,000 with a trade discount of 10% and terms of 5/30, 3/60, n/90. If the purchaser is invoiced on April 12th and payment is m
Q. Choosing an accounting career? How companies have a choice in inventory cost methods among specific identification, LIFO, FIFO and weighted-average. Likewise one of the grea
Create an adjusted trial balance & journal entries Bank charges of $932.70 were not recorded in the books for 2014. These were credit card fees charged by the bank for Edwards
Q. Explain about Stockholders equity? Stockholders' equity demonstrates the owners' interest in the business. This interest is equivalent to the amount contributed plus the inc
Q. Explain Statement of retained earnings? The statement of retained earnings demonstrates the change in retained earnings between the beginning and end of a period e.g. a mont
Company A has only been in existence for two full years as a public company. Prior to this, it was a segment of large multinational and was spun off as stand-alone, public company.
A user buys a new transponder for $20. What debit and credit entries would need to be made?
What is articulation
a 50 petty cash fund has cash of 20 and valid receipts for 40. The entry to replenish the fund would include a
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