Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

David & Co. has seven employees who are paid weekly. For hourly wage employees, overtime is paid at 1 1/2 times more than the regular rate of pay, for hours worked over 40 in a week.

Mary, the office manager, is paid a salary of $375.00 per week plus a bonus of 3 % of all revenue over $6,000 per week. Stan, an office assistant, is paid a salary of $250.00 per week plus 5% of all telephone sales made in the office.

David, the office secretary, is paid a salary of $230.00 per week. Justin and William, placement workers, are paid an hourly wage of $8.95. Fernando is also a placement worker but is paid a commission of $35.00 for every job placement completed. Ryan, a part-time maintenance worker, is paid $6.75 per hour. For the week ending October 24th, the office recorded the following payroll information:

Total office sales for the week were $8,420.00.
Justin worked for 38 1/2 hours.
William worked for 41 1/4 hours.
Phone sales for the week were $1,375.00.
Fernando made seven job placements.
Ryan worked a total of 23 hours.

Instructions: Calculate the gross earnings for the workers at David & Co. for the week ending October 24th. Analyze and identify the employee who had the highest gross earnings.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M9983805

Have any Question?


Related Questions in Accounting Basics

Assignment -part a - you are working as an accountant in a

Assignment - Part A - You are working as an accountant in a local accounting firm. You have been approached by Oliver and Sydney, the owner of Sugariffic, a start-up wholesaler. They have chosen Xero as their cloud based ...

Accounting fundamentals assignment -financial statement

Accounting Fundamentals Assignment - Financial Statement Analysis - This assignment involves analysing the financial statements and other information relating to a number of Australian public companies. These companies a ...

Question - tribune manufacturing purchased a machine for 60

Question - Tribune Manufacturing purchased a machine for $60 000 on 1 January 2015 which is expected to have a 5 year useful life, no residual value, and to produce a total of 20 000 gadgets before it is scrapped. Assumi ...

Question time value of money future valueinstructions for

Question: Time Value Of Money: Future Value Instructions: For this milestone, submit a draft of the Time Value of Money section of the final project, along with your supporting explanations. Base your calculations on the ...

Question - the following data pertain to last years

Question - The following data pertain to last year's operations at Tredder Corporation, a company that produces a single product: Units in beginning inventory 0 Units produced 20,000 Units sold 19,000 Selling price per u ...

Question - given the following data what is the value of

Question - Given the following data, what is the value of the gross profit as determined by the LIFO method? Sales revenue 300 units at $15 per unit Purchases 240 units at $10 per unit Beginning Inventory 120 units at $9 ...

Question - paid audi company the interest due on the note

Question - Paid Audi Company the interest due on the note of April 15 and renewed the loan by issuing a new 60-day, 8% note for $225,000. Record both the debit and credit to the notes payable account.

Question - garfield gunman purchased as a held-to-maturity

Question - Garfield Gunman; purchased, as a held-to-maturity investment, $80,000 of the 9%, 5-year bond on Chester Corporation for $70,086, which provides an 11% return. Prepare Garfield's journal entries for (a) the pur ...

Question please discuss the validation or failure of the

Question: Please discuss the validation or failure of the theory of efficient markets and behavioral finance given the "Credit Crunch" or global financial crisis of 2007-2009. Your initial post must be in your own words, ...

Question - legacy issues 325000 of 5 four-year bonds dated

Question - Legacy issues $325,000 of 5%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $292,181 and their market rate is 8% at the issue date. Determ ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As