Set Up an Equation That Can Be Used to Solve

question 81

Multiple Choice

Set up an equation that can be used to solve the problem. Solve the equation and answer the question asked.
-Because the budget cutbacks, MaryAnn was required to take a 19% pay cut. If she earned $51,000 before the pay cut, find her salary after the pay cut.

• A) $50,903.10
• B) $41,310
• C) $4131
• D) $50,031

---

Definitions:

Accounting Standards

Formal guidelines and principles designed to improve the transparency and consistency of financial reporting and accounting practices.

Financial Statements

Financial statements are formal records of an entity's financial activities and position, including the balance sheet, income statement, and cash flow statement.

FASB

The Financial Accounting Standards Board, an organization responsible for establishing accounting and financial reporting standards in the United States.

Single-Entry Accounting

An accounting system in which the flow of income and expenses is recorded in a running log, basically like a checkbook.