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Kyle worked as a free-lance software engineer for the first three months of 2016. During that time, he earned $44,000 of self-employment income. On April 1, 2016, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle Inc. From April through the end of the year, Kyle earned $178,000 in salary. What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year?
Genesis Company manufactures digital televisions and computer monitors. The limiting resource for the company is 7,200 hours per month. Televisions have a contribution margin per unit of $400 and computer monitors have a contribution margin per unit ..
Suppose a corporation issues 5,000 shares of $1 par common stock for $30 per share. In addition to the increase in cash, what effect does this transaction have on the accounting equation?
Leighton Company purchased equipment for $510,000 which was estimated to have a useful life of 10 years with a salvage value of $10,000 at the end of that time. Depreciation has been entered for 7 years on a straight-line basis. In 2014, it is determ..
Olga is the proprietor of a small business. In 2015, the business's income, before consideration of any cost recovery or § 179 deduction, is $250,000.
question a on january 1 2012 fishbone corporation sold a building that cost 250000 and that had accumulated
Why the risk of fraud is related to revenue recognition a major focus of external audits? What is "period-end-reporting" and how might it affect revenue recognition?
From the case study, explain whether or not you agree with IBM’s cost-reduction decisions regarding both the pension plan overtime for employees and the acquisition of a competitor to protect IBM’s competitive position in the mainframe business. Exam..
An important focus of management accounting is decision-making authority. Everyone within an organization has some decision-making authority. How do employees and managers know what decision making authority they have regarding firm assets?
evaluate the predetermined overhead ratelogan products computes its pre-evaluated overhead rate annually on the basis
Calculating Ending Inventory in both units and dollars, Cost of Goods sold, Commission to Manager & Gross Profit for the given period and evaluate cost of goods available for sale and the number of units available for sale.
Create a balance sheet from a trial balance-Create a comparison of net income based on different methods of inventory accounting.
May 3, 2010, Leven Corp. negotiated a short- term loan of $ 685,000. The loan is due October 1, 2010, and carries a 6.86% interest rate. Use ordinary interest to calculate the interest. What is total amount Leven would pay on the maturity date?
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