Abdullah has been the Office Manager of your company for the last 20 years and is...
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Abdullah has been the Office Manager of your company for the last 20 years and is now at the end of his last signed contract. Originally, you hired him at a monthly basic wage of QR 2000. His basic wage is now QR 5000, and he receives a monthly housing and transportation allowance valued at QR 1500. Abdullah now wants to resign and return to Indonesia You will terminate him. a) How much notice you required to give him? b) What is the minimum end of service gratuity that you must pay him? (State what your calculation is based upon)? c) Are there any other benefits that you must pay on termination of Abdullah? a) I should give him 1-month notice because he has been working for more than 5 years b) 69230.4 QAR c) The payment of repatriation to home country should also be paid Required: 1. Prepare a March income statement for the business. 2. Prepare a March statement of owner's equity. The owner's capital account balance at February 28 was $0, and the owner invested $11,600 cash in the company on March 1 3. Prepare a March 31 balance sheet. Hint: Use the owner's capital account balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a March Income statement for the business. Assets: Liabilities: Equity: Revenues METRIX Income Statement Abdullah has been the Office Manager of your company for the last 20 years and is now at the end of his last signed contract. Originally, you hired him at a monthly basic wage of QR 2000. His basic wage is now QR 5000, and he receives a monthly housing and transportation allowance valued at QR 1500. Abdullah now wants to resign and return to Indonesia You will terminate him. a) How much notice you required to give him? b) What is the minimum end of service gratuity that you must pay him? (State what your calculation is based upon)? c) Are there any other benefits that you must pay on termination of Abdullah? a) I should give him 1-month notice because he has been working for more than 5 years b) 69230.4 QAR c) The payment of repatriation to home country should also be paid Required: 1. Prepare a March income statement for the business. 2. Prepare a March statement of owner's equity. The owner's capital account balance at February 28 was $0, and the owner invested $11,600 cash in the company on March 1 3. Prepare a March 31 balance sheet. Hint: Use the owner's capital account balance calculated in part 2. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a March Income statement for the business. Assets: Liabilities: Equity: Revenues METRIX Income Statement
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Based on the information provided your answers for parts a and c are correct However for part ... View the full answer
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