Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 03, 2024

Question 47 (1 point) Michael is a commissioned salesperson who receives a monthly commission calculated as a 10% fixed percentage of sales. In addition, he

Question 47 (1 point)

Michael is a commissioned salesperson who receives a monthly commission

calculated as a 10% fixed percentage of sales. In addition, he receives a mid-month

advance of $900.00. For this month, Michael generated $40,000.00 in sales.

Calculate his commissions owing at month-end.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of External Auditing

Authors: Brenda Porter, Jon Simon, David Hatherly

1st Edition

0471962120, 978-0471962120

More Books

Students also viewed these Accounting questions

Question

★★★★★

On January 1, 2013, Pinnacle Corporation exchanged $3,200,000 cash for 100 percent of the outstanding voting stock of Strata Corporation. Pinnacle plans to maintain Strata as a wholly owned...

Answered: 1 week ago

Question

★★★★★

We set the budget once a year and then compare the actual profi t after the end of the fi nancial year. If actual profi t is below budget, then everyone needs to make more eff ort to ensure this...

Answered: 1 week ago

Question

★★★★★

Construct a diagram to represent the gasoline additive experiment described on page 52.

Answered: 1 week ago

Question

★★★★★

Complete the following chart indicating the corresponding Auditing Standards Board assertions and whether the assertion relates to transactions, balances, ordisclosures. PCAOB Assertien Corresponding...

Answered: 1 week ago

Question

★★★★★

Excel Online Structured Activity: Free Cash Flows The data for Rhodes Corporation's has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis...

Answered: 1 week ago

Question

★★★★★

Hi please could you solve these mcqs asap I have an exam in 15 minutes. 1.Which of the following statements best describes the concept of "two faces of debt"? Select one: a. Intermediaries issue...

Answered: 1 week ago

Question

★★★★★

Mr Satya, age 35,married to Rupanvita, age 33. He is a government employee, and his wife is a marketing manager with private company. He stays in Kolkata, and has a 10-months old son, Ajay. Over the...

Answered: 1 week ago

Question

★★★★★

its an initial dream to be "the destination of choice for Australian job seekers", SEEK was founded in Melbourne, Australia in 1997 by brothers Paul and Andrew Bassat, together with co-founder...

Answered: 1 week ago

Question

★★★★★

earch Scenario and activity: You are initially working with a selection of these small businesses that have been trading for three years and which now need annual trading statements to be compiled...

Answered: 1 week ago

Question

★★★★★

Your facility belongs to one of three health care delivery systems in the city. Competition is fierce. You have been asked to serve on a committee to study and recommend the retention or deletion of...

Answered: 1 week ago

Question

★★★★★

Read all the articles on journaling; what approach in the articles did you find helpful and why? Mention that you have reviewed the journaling materials and what you learned; let us know if you have...

Answered: 1 week ago

Question

★★★★★

4. What are the principal technologies and standards for wireless networking, communication, and Internet access?

Answered: 1 week ago

Question

★★★★★

1. Should managers monitor employee e-mail and Internet usage? Why or why not? The Internet has become an extremely valuable business tool, but its also a huge distraction for workers on the job....

Answered: 1 week ago

Question

★★★★★

1. What is net neutrality? Why has the Internet operated under net neutrality up to this point in time? What kind of Internet user are you? Do you primarily use the Net to do a little e-mail and...

Answered: 1 week ago

Previous Question Next Question