Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Flip earns a salary of $7,500 per month during the year. FICA taxes are 8% on the first $100,000 of gross earnings. Federal unemployment insurance taxes are 6.2% of the first $7,000; however, a credit is allowed equal to the state unemployment insurance taxes of 5.4% on the $7,000. During the year, $25,600 was withheld for federal income taxes and $5,700 was withheld for state income taxes.
Instructions
(a)Prepare a journal entry summarizing the payment of Flip's total salary during the year.
(b)Prepare a journal entry summarizing the employer payroll tax expense on Flip's salary for the year.
(c)Determine the cost of employing Flip for the year.
On the statement of cash flows prepared by the indirect method, a $50,000 gain on the sale of investments would be:
Determine the rate and efficiency variances for the variable overhead item power cost and indicate whether those variances are unfavourable or favourable.
Imperial Foods checkbook balance on December 31, Year 1 was $122,400. In addition, Imperial held the following items in its safe on December 31.
a company entered into a franchise agreement to operate a franchised location beginning on january 1 2014. the terms of
The Allegheny Valley Power Company common stock has a beta of 0.80. If the current risk-free rate is 6.5%(Krf)and the expected return on the common stock as a whole is 16%(Km)
MSA Computer Corporation manufactures two models of minicomputers,the Alpha 4 and the Beta 5. Determine the most profitable number of Alpha-4 model of minicomputer to produce during the coming month.
the cost of the two-year-old machine is 190000. it has an estimated residual value of 45000 and has an estimated useful
A company has capital of $200 million. It has an EROIC of 9%, forecasted constant growth of 5%, and a WACC of 10%. What is its value of operations? What is its intrinsic MVA?
If a firm issues a bond to raise money to finance a project, does this debt financing yield a zero net present value? ( assuming that the market is efficient in pricing and tax consequences are irrelevant). yes or no. explain?
Explain how "rules-based" accounting standards differ from "principles-based" standards. How might fundamentally changing accounting standards from bright-line rules to principle-based standards help prevent another Enron-like fiasco in the future..
the cost accountant for a drug company has informed you thatthe companys materials quality variance for a allegra was
based on the segment income statement below sorbet is considering eliminating itsnbspmangonbspline.revenue
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd