Answer:
A. Employer payroll tax expense includes FICA and State and Federal Unemployment tax.
= (250,000 * 7.65%) + (250,000 * 5.4%) + (250,000 * 0.8%)
= 19,125 + 13,500 + 2,000
= $34,625
B.
Date Details Debit Credit
March Payroll Tax expense $34,625
FICA Taxes $19,125
State Unemployment Taxes $13,500
Federal Unemployment Taxes $2,000
On January 2, 2017, Hannah Company sold a machine for $1,000 that it had used for several years. The machine cost $12,000, and had accumulated depreciation of $8,000 at the time of sale. What gain or loss will be reported on the income statement for the sale of the machine?
Answer:
Loss= -$3,000
Explanation:
Giving the following information:
Selling price= $1,000
Purchase price= $12,000
Accumulated depreciation= $8,000
First, we need to calculate the book value:
Book value= 12,000 - 8,000= $4,000
If the book value is higher than the selling price, the company loses from the sale:
Gain/loss= selling price - book value
Gain/loss= 1,000 - 4,000
Loss= -$3,000
Stockholders have residual claim on all assets after debt is paid and therefore have ____ risk than bondholders.
a) equal
b) higher
c) lower
Answer:
b) higher
Explanation:
As we know that the bondholders would be have more priority as compared with the shareholders either they have high risk as compared with the bond holders
So as per the given situation, in the case when the stockholder has the residual claim on all the assets after the payment of debt. This leads to high risk as compared with the bondholders
Therefore the correct option is B.
Question 3 of 10
When a nation's standards of financial reporting are transparent and effective:
OA. citizens tend to have greater confidence in the economy.
B. businesses are unable to foster good relationships with
customers
DC. businesses in the country tend to lose profits and resources.
OD. the country's laws can be more easily violated.
Answer:
A. citizens tend to have greater confidence in the economy.
Explanation:
When a nation's standards of financial reporting are transparent and effective, by extension, the citizens tend to have greater confidence in the economy.
This is because when the government are transparent about the financial affairs of the nation, the citizens are confident in the economy
If the Federal Reserve held the money supply constant in response, the effect on aggregate demand from the increase in government spending would be:___.
Answer: Smaller
Explanation:
If the Federal Reserve held the money supply constant in response, the effect on aggregate demand from the increase in government spending would be smaller than if the Fed were committed to maintaining a fixed interest rate.
A rise in Aggregate Demand would lead to more people demanding money to enable them to spend. If the Fed keeps the money supply constant therefore, the increase aggregate demand will be less than if the Fed was committed to maintaining a fixed interest rate.
This is because if the Fed wanted to maintain a fixed rate they would have increased money supply to match money demand which would have led to Aggregate demand increasing more than if they hold the money supply constant.
EASY ANSWER
You should plan to arrive _____ minutes early for an interview.
fifteen
ten
twenty
five
Answer:
10 or 15 bc of my mom
Explanation:
Answer:
Fifteen
Explanation:
I am trying to convince my dad to let me be Interior Designer. What are some resons for me to become a Interior Designer?
Answer:
Explanation:
1 You can manage your time according your scheduled projects.
2 You can have a lot of costumers around the world
3 It is a profitable niche if you are skilled.
4 Your brain always gonna be creative and curious.
5. You can travel around the world with your knowledge.
6. If you are a good one, you maybe have a lot of followers in your networks liking your work.
7 And if really is your passion job, you will be happy in your life.
Best regards
If the abnormal return for a stock during the first week is +5 percent and +3 percent during the second week, what is the abnormal return for the two-week period?
A) 5 percent
B) 3 percent
C) 8.15 percent
D) 8 percent
Answer:
C) 8.15 percent
Explanation:
The computation of the abnormal return for the two week period is as follows:
Abnormal return is
= (1 + first week abnormal return) × (1 + second week abnormal return) - 1
= (1 + 5%) × (1 + 3%) - 1
= 1.0815% - 1
= 8.15%
Hence, the correct option is c.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Most state and local income taxes are either
Answer:
tax collected on the purchase price of goods or services
Explanation:
tax collected on the purchase price of goods or services
Most state and local income taxes are either tax collected on sales.
What is Tax?Tax are levy or due paid by an individual, organization or firm. It is paid to the government purse and the money is used by the government for their spending.
The payment is compulsory and the amount to aly is determined by the government.
Therefore, most state and local income taxes are either tax collected on sales.
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An early 1970s government study ("Work in America") identified three chief sources of worker dissatisfaction. Which of the following is one of those sources?
Answer:
The right approach is "The rigidity of rules and regulations".
Explanation:
Laws, as well as regulations throughout the red tape, are also rigid as well as unyielding. Clear, simple to comprehend. Because once we speak about administrative management, there have been many disadvantages to something like the mere implementation of that kind of principle to administer any organization.Maybe that's why the aforementioned is indeed the easiest alternative.
Direct examples of the functions of a financial system include
(Select all that apply.) ?
1. a business owner accepting payments via PayPal
2. a bank hiring three new tellers when a new branch opens
3. ensuring that personal information entered electronically is safe
4. a financial institution extending a line of credit to a small business
Joe Palucci earns $2,500 per PLEASE HELP!!!
Joe earns $2,500 per month. Out of those wages, $266 in federal income taxes,
$191.25 in FICA taxes, $120 in state income taxes, and $125 in health insurance
premiums were deducted. What percent is his take home pay of his gross pay? (Round
to nearest whole percent) (2 points) (include % sign)
Answer:
72%
Explanation:
you need to subtract 2,500-191.25-120-125-266
then take the answer and divide by 2,500
1797.75/2500
=72%
You have taken out a $350,000, 3/1 ARM. The initial rate of 6.0% (annual) is locked in for three years. Calculate the outstanding balance on the loan after three years. The interest rate after the initial lock period is 6.5%. (Note: the term on this 3/1 ARM is 30 years.)
A) $336,294.25
B) $2,098.43
C) $347,901.57
D) $2,183.95
Answer:
A) $336,294.25
Explanation:
Loan = 350,000
Rate 6%
Years = 30
PMT = PMT(Rate/12, 30*12, -Loan)
PMT = PMT(6%/12, 360, -350,000)
PMT = $2,098.43
Loan balance after 3 years = 27 years left
Loan Balance = PV(Rate/12, 27*12, -PMT)
Loan Balance = PV(6%/12, 324, -2,098.43)
Loan Balance = $336,294.25
The money lost by not working is called
it's called bankrupt
When the grocery store orders a large shipment of chocolate candy just before Valentine's Day, this type of inventory is typically called:_______
A. Smoothing Inventory
B. Hedge Inventory
C. Cycle Stock
D. Transportation Inventory
E. Anticipation Inventory
Answer:
E. Anticipation Inventory
Explanation:
In the case when the grocery store wants to order for a big chocolate shipment prior to the valentine day so there the inventory type would be anticipation inventory as it represents the demand anticipation for the forthcoming event i.e. valentine day
So the same is to be considered
Hence, the correct option is E
And, the other options are incorrect
Give an example of an official in public service who failed to show probity, and explain your
answer. :
Answer:
The perfect and perhaps most commonly known is former U.S. President Richard Nixon.
Explanation:
Nixon was President of the United States from 1969 to 1974, he was elected for two periods, but he only finished one and less than half the other one. The reason is that he was embroiled in the Watergate scandal: an espionage campaign of the Democratic Party from Republican officials, including Nixon himself.
With these acts, Nixon, as the highest public official in the nation, failed to show probity, and dishonored the office of the president. He was quick to renounce the presidency, and would have faced legal challenges if not for his Vice President, Gerald Ford, who became president as his replacement, and issued him a presidential pardon immediately after.
MCDONALDS GIVE DIRECTIONS
Answer:
TAKE A LEFT
Explanation:
ON 123 SESAME STREET
yessssssssssssssssssssssss
At contract maturity the value of a call option is ___________, where X equals the option's strike price and ST is the stock price at contract expiration.
a. max (0, ST - X)
b. min (0, ST - X)
c. max (0, X - ST)
d. min (0, X - ST)
Answer:
A. Max (0, ST - X)
Explanation:
call option which is also known as a "call", can be regarded as a contract, that exist between both buyer as well as the seller of the call option, in so that security exchange at a set price can occur. It should be noted that At contract maturity the value of a call option is Max (0, ST - X) where X equals the option's strike price and ST is the stock price at contract expiration.
The average number of times each dollar in the money supply is used to purchase goods and services is called:______.
a. the fractional reserve system.
b. the velocity of money.
c. the discount rate.
d. the quantity theory of money.
Answer:
o think the answer is the discount rate
The average number of times each dollar in the money supply is used to purchase goods and services is called the velocity of money.
What are the goods?The term Goods are products and resources that satisfy people's needs and wants. A good can be a natural science object, a provided service, or some accumulation of the two. Just about anything is good if it supplies some kind of benefit to consumers.
The velocity of money refers to The frequency with which an average dollar is spent on goods and services in a certain period of time is known as the velocity of money.
As a result, When the money supply and its velocity as a product grow more quickly than real GDP, prices rise.
Therefore, The right option (B) is correct.
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A recipe for macaroni and cheese calls for 18 ounces of cheddar cheese to make 32 four-ounce portions. How much would cheddar would be needed to produce 40 eight-ounce portions?
Answer: 45 ounces of cheddar cheese is required to make 40 eight-ounce portions.
Explanation:
To find : Quantity of cheddar cheese required to make 40 eight-ounce portions.
Given: Quantity of cheddar cheese required to make 32 four-ounce portions. = 18 ounces
⇒ Quantity of cheddar cheese required to make 1 four-ounce portions. = [tex]\dfrac{18}{32}[/tex] ounces.
⇒ Quantity of cheddar cheese required to make 1 eight-ounce portions. = [tex]2\times \dfrac{18}{32}[/tex] ounces.
[tex]=\dfrac{18}{16}[/tex] ounces.
⇒ Quantity of cheddar cheese required to make 40 eight-ounce portions =
[tex]40\times\dfrac{18}{16}=45[/tex]
Hence, 45 ounces of cheddar cheese is required to make 40 eight-ounce portions.
True or False. Your employer is responsible to make contributions, on your behalf, to the Federal Insurance Contributions Act (FICA).
Answer:
True
Explanation:
Plz mark brainliest thxxx :) hope it helps
Your employer is responsible to make contributions, on your behalf, to the Federal Insurance Contributions Act (FICA) is a true statement.
The employers is the one that is responsible for paying employees contributions on their behalf for FICA by the fact that Employers do withhold FICA taxes from employees' wages, and therefore pay employer FICA taxes and later on go and report both the employee and employer shares to the IRS.Conclusively, the FICA taxes are payroll taxes that is used in handling social security and Medicare and as such, both employees and employers must contribute their fair share.
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If you decide not to spend $1,000 you earned at your summer job but instead intend to buy shares in a mutual fund, in terms of aggregate economic accounting you would be:_______.
A) consuming.
B) saving.
C) investing.
D) transferring.
Answer:
B)saving
Explanation:
Savings in accounting can be regarded as the amount that remains when the
individual's consumer spending is removed from disposable income that is earned by a consumer at a particular iperiod of time. For instance you decide not to spend $1,000 you earned at your summer job but instead intend to buy shares in a mutual fund, in terms of aggregate economic accounting you would be saving.
Which activity does the IRS allow nonprofit organizations to engage in?
advertising tax deductions for donations
compensating business owners based on profits
selling pharmaceuticals if it is a healthcare organization
increasing the value of shareholder’s investments
Will give brainliest to correct answer!
Answer: advertising tax deductions for donations
Explanation:
The activity does the IRS allow nonprofit organizations to engage in is
advertising tax deductions for donations.
What is IRS?It stands for Internal revenue service that administered the federal tax laws. In this, it contains the processing of tax return, tax payer service, and the enforcement.
So based on this, we can say that The activity does the IRS allow nonprofit organizations to engage in is advertising tax deductions for donations.
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Piper Pipes has the following inventory data: July 1 Beginning inventory 20 units at $120 5 Purchases 120 units at $112 14 Sale 80 units 21 Purchases 60 units at $115 30 Sale 56 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a LIFO basis?
a. $15,392.
b. $15,412.
c. $7,328.
d. $7,348.
Answer:
COGS= $15,412
Explanation:
Giving the following information:
July 1 Beginning inventory 20 units at $120
July 5 Purchases 120 units at $112
July 14 Sale 80 units
July 21 Purchases 60 units at $115
July 30 Sale 56 units
First, we need to calculate the number of units sold:
Units sold= 136
To calculate the cost of goods sold using LIFO (last-in, first-out), we need to use the cost of the last units incorporated into inventory:
COGS= 60*115 + 76*112
COGS= $15,412
The corporate certificate issued to an investor that has loaned money to the corporation or government is called a:________.
Answer:
Bond
Explanation:
The bond is a security of debt in which the issuer owes the debt holder and based on the terms and conditions of the bond have the obligation or responsibility to pay them the interest i.e. coupon or to make the repayment of the principal amount at some future date i.e. maturity date. Here the interest could be paid on monthly, semiannual, etc basis
Also the certificate is to be issued to an investor regarding the money loaned to the government
Therefore the above is the answer
The revenue cycle is a major cycle for most companies. Accounts receivable, revenue, and other accounts are tested through this cycle. Often there are misstatements found, including errors and/or fraud by the client.
CONCEPT REVIEW: It is important in testing any cycle, especially revenue, to realize that misstatements will occur and to try to distinguish between errors and fraud
1. Many instances of misstatement are based on the inappropriate recognition of_______
2. One way to avoid misstatement of revenue is to ensure the client has proper______
3. Revenues are deemed to be earned when the company has______ what it must do to fulfill its obligation
4. Side______ can substantially alter the terms of a sale.
5. _______ needs to be assured in order to recognize revenue.
Answer and Explanation:
1. The misstatement would depend on when there is inappropriate revenue recorded
2. For avoiding the revenue misstatement, the client should have to cut off the policies
3. The revenues are earned at the time when the company achieved or accomplished for fulfiling its obligation
4. The side agreements could modify the terms of sales
5. For recording the revenue, the collectibility needs to be confirmed
Government agencies allow consumers to initiate transactions with government agencies, such as when they pay their taxes, pay traffic fines, or renew automobile registrations via the Internet. The online marketing domain involved is ____________ .
Answer:
affiliate marketing
Explanation:
In simple words, the affiliate marketing relates to the type of marketing under which the user and the handler of any online domain interact with each other due to the actions made by one or both of the parties. In this type of online marketing the transactions are done on the basis of the pre-defined information on the user end.
Thus, from the above we can conclude that the given case depicts affiliate marketing.
The online marketing domain involved is C2G.
The following information related to C2G is:
The full form of C2G is Consumer to Government. In this, the consumer provide the feedback related to the government authority. In this, the traffic fines, taxes are paid.Therefore we can conclude that The online marketing domain involved is C2G.
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A scope limitation sufficient to preclude an unqualified opinion always will result when management:__________
A) Prevents the auditor from reviewing the working papers of the predecessor auditor.
B) Engages the auditor after the year-end physical inventory is completed.
C) Requests that certain material accounts receivable not be confirmed.
D) Refuses to provide a representation letter acknowledging its responsibility for the fair presentation of the financial statements in conformity with GAAP.
Answer:
The answer is D.
Explanation:
A scope limitation in audit means circumstances hindering an auditor from carrying out his duties according to the audit procedure. A scope limitation can make an auditor issue a qualified opinion or a disclaimer of opinion depending on the materiality of the issue.
Back to the question, a scope limitation sufficient to preclude an unqualified opinion always will result when management refuses to provide a representation letter acknowledging its responsibility for the fair presentation of the financial statements in conformity with General Accepted Accounting Principle (GAAP)
Retained earnings can be decreased by all of the following except for Group of answer choices stock splits. some disposals of treasury stock. stock dividends. cash dividends.
Answer:
stock splits.
Explanation:
Retained earnings also known as accumulated earnings, can be defined as the total amount of net income held by a corporation for its future use after paying out dividends to its shareholders.
The retained earnings statement refers to a financial statement that enumerate changes in retained earnings for an organization over a specific period of time. The retained earnings statement is the statement of owner's equity that outlines details of changes in the amount of retained earnings (profits) over a specified period in an organization.
The main purpose of preparing a retained earnings statement is to boost investor's confidence and improve market value.
Retained earnings can be decreased by the following; some disposals of treasury stock, stock dividends, cash dividends except for stock splits.
Question 10 of 10
Harland just got his second major credit card, so his credit score rose from
671 to 711. According to the following table for a $150,000 mortgage, how
much less per year would Harland have to pay on a $150,000 mortgage with
the new credit score?
FICO
score
720-850
Interest
rate
5.59%
Monthly
payment
$860
700-719
5.71%
$872
$924
675-699
6.25%
7.40%
620-674
560-619
500-559
8.53%
$1039
$1157
$1238
9.29%
Answer: 2004
Explanation:
Superfine Company collected the following data in preparing its cash flow statement for the year ended December 31, 2017: Amortization of bond discount $ 1,000 Dividends declared 22,500 Dividends paid 19,000 Gain on sale of equipment 3,000 Proceeds from the sale of equipment 5,000 Proceeds from the sale of treasury stock (carrying amount $32,500) 37,500 Purchase of BAS Inc. bonds (par value $100,000) 90,000 Required: Determine the following amounts that should be reported in Superfine’s 2017 statement of cash flows. What amount should Superfine report as net cash used in investing activities? What amount should Superfine report as net cash provided by financing activities?
Answer: a. ($85,000) ; b. $18500
Explanation:
a. What amount should Superfine report as net cash used in investing activities?
Sale of equipment = $5,000
Less: Purchase of bond = ($90,000)
Net cash used in investing activities = ($85,000)
b. What amount should Superfine report as net cash provided by financing activities?
Proceeds from treasury sold = $37500
Less: Dividend paid = ($19,000)
Net cash provided by financing activities will be: = $18500
