Based on these data, the total selling and administrative expenses each year are the cost base is the absorption costing unit product cost rather than variable costing.
What are expenses ?Common expenses are the cost of goods sold, rental costs, labor costs, and utility costs. Although cost and expense are similar concepts and are sometimes used interchangeably, there are some differences that businesses need to consider. Costs usually refer to the price paid to acquire an asset, whereas expenses are ongoing expenses.For example, employee salaries and retail space rents.A cost is defined as an outflow of money or property to another person or entity in payment for an item or service.Expenses are costs incurred by a company and paid to suppliers or paid for products or services from other sources.Living expenses are expenses necessary to maintain daily life and health. They cover major categories of housing, food, clothing, healthcare and transportation. Understanding what is involved in each of these areas will help you budget.To learn more about expenses from the given link :
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What's the interest rate on a $14,000 loan that requires a semi-annual interest payment of $550? round to the nearest percent
The interest rate on a $14,000 loan that requires a semi-annual interest payment of $550 is 8%
The formula for calculating FV is P(1 + r/n)(nt) 550 = 14000(1 + r/2)(2.1), where r = 8%.
A sort of debt that a person or other entity accrues is a loan. On behalf of a company, bank, or government, the lender normally advances the borrower a set sum of money. In exchange, the borrower agrees to a particular set of conditions, which may include any fees, interest, a repayment timetable, and other demands.
The charge made by a lender to a borrower is known as an interest rate, and it is given as a percentage of the principal or the amount that was lent. The annual percentage rate, or APR, is typically used to express the interest rate on a loan (APR).
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a natural monopoly is one that arises from: group of answer choices mergers. patent law. economies of scale. copyright law. any government-imposed barrier to entry.
A natural monopoly is one that arises from: group of answer choices mergers. patent law economies of scale.
Hence, Option A is correct.
What makes a natural monopoly?
A natural monopoly can be defined as a particular market if a single firm can serve that market at lower cost than any combination of two or more firms. They arise when the largest supplier in an industry, often the first supplier in a market, has an overwhelming cost advantage over other actual or potential competitors
Examples of Natural Monopoly includes :
RailroadsElectrical powerWater TelecomHence, in the above statement Option A is correct.
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Building bonds puts on team-building events. The company charges a base rate of $45 per event, plus $7. 50 per participant. If an event costs $120, how many participants are there?.
Team building exercises are exercises that strengthen relationships between coworkers and promote cooperation among team members. Movie nights, Minute Madness, and team lunches are among instances.
What does management team building entail?Building a team is the process of fostering relationships among group members in order to more effectively accomplish the goals of the organization.
Why are relationships between team members and leaders crucial?But in the end, the relationships that form between team members and their leaders enable them to get over their differences and arguments. The editor for SHRM's workplace is Theresa Agovino.
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the price of a dozen eggs falls from $3 to $2.70. in response to this price change, the quantity supplied of eggs falls from 100,000 dozen eggs to 75,000 dozen eggs. what is the price elasticity of supply for eggs? 0.37 2 0.5 2.7
Twelve eggs are now $2.70 instead of $3. The number of dozen eggs supplied decreases from 100,000 to 75,000 as a result of the price shift. The price elasticity of egg supply is 3.33.
Define price elasticity of supplyPrice elasticity of supply is a metric that expresses how responsive a good's supply is to price changes. By dividing the percentage change in the quantity supplied by the percentage change in the price, it is calculated.
The quantity supply price elasticity is calculated as the difference between a percentage change in the quantity supplied and a percentage change in the price.
For eggs, the price elasticity of supply is:
% change in Quantity supply= 75,000- 100,000/75,000× 100=33.33%
% change in price = (2.70 - 3.00) ÷ 3.00× 100= 10.00%
Price elasticity of supply = 33.33/10.00=3.33
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a forecast of bond returns based largely on a prediction of the yield curve at the end of the investment horizon is called a .
The investment horizon is called bond's overall return over a five-year investment horizon is 50.5%.Assume the bond has a $1,000 face value. Due to the bond being purchased at par, the initial investment is equivalent to its $1,000 face value.
Thus, we have $1,000 multiplied by 9%, or $90, plus coupons Given that he is receiving 5 coupon payments after holding the bond for five years and that the reinvestment rate is 9.4%, the future value of these 5 payments at the conclusion of the investment horizon (i.e., at the end of year 5) is calculated as follows: (90/9.4%) L (1+9.4%)5 -1]=$543.+ At the end of the investment horizon, the price of the two-year remaining bond is computed as follows: 90/1.112 + 1,090/1.1122 = $962. (Since there is a $90 coupon payment in one year and a $90 coupon payment plus $1,090 in principle repayment in two years) => Total receipt at the end of the investment horizon = The future value of these 5 coupon payments at the end of the investment horizon + The cost of the two-year remaining bond at the end of the investment horizon = $543 + $962 = $1,505.
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how auditors can best protect themselves from litigation when an assurance client has a significant, undiscovered misstatement
Auditors are extremely significant individuals because, in the end, it is up to them to improve the credibility of financial statements for all different types of external users.
They may be held accountable for their actions in both civil and criminal court, just like other professionals.
Despite all the other cases that are still undiscovered, many fraud cases would have gone unnoticed if independent and qualified auditors hadn't been present. According to the code of professional conduct, auditors must exercise due caution when conducting their work. "Prudent person" refers to someone who takes reasonable care.
Due consideration typically means four things:
To evaluate financial statements, the auditor needs to have the necessary skills.The auditor owes it to the public to use this skill with reasonable care and diligence.The auditor performs his or her duties in good faith and with integrity, but he or she is not faultless.The auditor could be held accountable for negligence, malfeasance, or dishonesty but not for simple mistakes in judgment.Learn more about Auditors, here
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Average Accounting Return Rule
Based on the average accounting return rule, a project is acceptable if its average accounting return exceeds a target average accounting return.
A project is acceptable if its average accounting return exceeds a target average accounting return is known as, Average Accounting Return Rule.
Target average:
In economics, target average refers the average weight per animal agreed and set out in the Fourth Schedule to this agreement.
Given,
Here we need to find the a project is acceptable if its average accounting return exceeds a target average accounting return.
In order to find the term, we must know the definition of average accounting return,
It means the percentage rate of return expected on an investment or asset, compared to the initial investment's cost.
According to this definition, if its average accounting return exceeds a target average accounting return.
Therefore, this defines the average accounting return rule of the project.
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under absorption costing, fixed overhead is allocated to products sold, so when production is greater than units sold, net income will be
Under absorption costing, fixed overhead is allocated to products sold, so when production is greater than units sold, net income will be greater
The costing method known as absorption costing distributes variable and fixed overhead costs to each unit produced over the time period. It differs from variable costing in that regard. Fixed overhead costs are reported as expenses rather than being allocated to the units generated under variable costing. This indicates that fixed overhead expenses do not contribute to the cost of goods sold under variable costing.
When output exceeds the number of units sold, absorption costing allocates fixed overhead to the items sold, resulting in net income that is higher than that determined by variable costing. The costs ascribed to product units under absorption costing comprise both variable and fixed costs.
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A new CNC costs $35,000 today. You estimate you can sell it for $8,000 in 10 years. For the next nine years you estimate you can generate an additional $7,500 in revenue each year and it will cost you $1,000 each year for maintenance. Your MARR for this investment is 6%. What is the present value of the gain or loss on the CNC investment? Select one: a. - 35,000 b. -9,217 c. 13,680 d. 38,000 e. - 15,647
The present value of gain on the CNC investment is 13, 680.
How to calculate gain or loss on investment when MARR is given?To calculate the present value of loss or gain on the CNC investment, the following calculations as given in the table below are to be made.
Hence, by substracting the sum of cash inflow or revenue from CNC over 9 years and the final selling price from the initial investment gives out 13, 680 dollars (which is gain from investment on CNC).
Gain on CNC investment = -35, 000 + 48678.16 = 13,678.16 (approximately 13, 630 dollars).
What is MARR?The Minimum Acceptable Rate of Return (MARR) or discount rate is minimum rate of return at which an individual or a company would make a decision to invest on an asset or a project.
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as james markets his bike tires to sporting goods manufacturers, what trade credit terms would be the most favorable to him, not the manufacturers?
The net 15 trade credit term will be most favorable to him as the manufactures need to pay the money within 15 days of purchase.
What are trade credit terms?Trade credit is a business agreement in which a customer can purchase goods without paying cash immediately but paying the supplier at a later scheduled date. Usually, businesses that operate with trade credits give buyers 30, 60, or 90 days to pay, with the transaction recorded through an invoice.
An invoice containing the term net 15 means that full payment is due in 15 days after the invoice date. Net 15 is part of a company's payment terms. Instead of asking a client to pay immediately after a product has been delivered or service performed, the vendor gives the client time to pay the invoice.
Therefore, the net 15 trade credit term is favorable for James.
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Your question is incomplete, the complete question will be
Leandroff corporation leases its corporate headquarters building. This lease cost is fixed with respect to the company's sales volume. In a recent month in which the sales volume was 28,000 units, the lease cost was p697,200. To the nearest peso, how much is the total lease cost at a sales volume of 29,200?.
Leandro agency leases its company headquarters construction. This rent cost is fixed with admire to the enterprise's sales extent is $ 26.41.
Let's understand while taking batters in as B and lessor as A
There is a lease agreement between Party A and Party B, where Party A is the owner [Lessor] of the Building and B is the lessee of the Building. B agreed to pay a fixed amount of lease cost, which will vary as per sales volume. However there is a range in which the lease cost will remain the same, and if this range is exceeded then the increased lease cost must be paid by B. This cost has the feature of semi-fixed cost, which will increase with the increase in capacity [Volume].
Since the question suggest that the sales volume has been in the range, hence the lease cost in totality will not be increased. The per unit cost will be the total lease cost divided by sales volume.
Lease cost per unit would be = $ 697,200 / 26,400
= $ 26.41 per unit.
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what will most likely be the result of using an unplanned approach, in which each employee's pay is independently negotiated
Explanation:
An unplanned approach will likely result in unfairness and dissatisfaction among the employees.
B. Most of the employees prefer planned pay because negotiation with the management takes time
Indicate which of the functions of money (a medium of exchange, a unit of account, and a store of value) each of the following performs in the U.S. economy. Check all that apply. Medium of Exchange Unit of Account Store of Value Demand deposit Mexican peso House Plastic credit card Given your answers to the previous task, indicate whether each of the following is considered money in the U.S. economy. Money Yes No Demand deposit Mexican peso O o House Plastic credit card
The following is considered money in the U.S. economy are Demand deposit & U.S. Penny.
What is meant by Demand deposit ?Money stored in demand accounts at commercial banks is known as demand deposits or chequebook money. These account balances are typically regarded as money and make up the majority of a nation's strictly defined money supply. Simply explained, they are bank deposits that may be withdrawn immediately and without warning.Demand deposits are often regarded as a component of the strictly defined money supply since they may be used to pay for goods and services and to repay debts via checks and draughts. Demand deposits and currency are typically included in definitions of a nation's money supply. Demand deposits make up the majority of the money supply in the majority of nations.Learn more about Demand deposit refer to :
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Selected information relating to Yost Company's operations for the most recent year is given below:Activity:Denominator activity (machine-hours)21,200Standard hours allowed per unit2.2Number of units produced9,500Costs:Actual fixed overhead costs incurred$65,000Fixed overhead budget variance$2,840F The company applies overhead cost to products on the basis of standard machine-hours.Required:1.What were the standard machine-hours allowed for the actual production? (Round "Standard machine-hours allowed per unit" to 1 decimal place.)2.What was the fixed portion of the predetermined overhead rate? (Round "Predetermined overhead rate" to 1 decimal place.)3.What was the volume variance? (Indicate the effect of variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Round "Fixed portion of the predetermined overhead rate" to 1 decimal place.)
Standard machine hours for actual production is 20900 hours, the predetermined overhead rate is $3.2 per machine hour and $960U for fixed overhead volume variance
1) Standard hours allowed for actual production= Actual units produced*Standard hours per unit
= 9500*2.2 = 20900 hours
2) Predetermined overhead rate= Budgeted fixed overheads/Budgeted number of hours
We were given Fixed overhead budget variance= $2840F
Budgeted Fixed overheads - Actual fixed overheads= $2840F
Budgeted fixed overheads= 2840+$65000 = $67840
The standard number of hours is 20900
So, predetermined overhead rate= $67840/20900 = $3.2 per machine hour
3) Fixed overhead volume variance = Standard rate*( Standard hours - Budgeted hours)
$3.2*(20900-21200)
= $3.2(-300) = $960U
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In the first half of the 19th century, canal building was important to economic growth because canalsanswer choicescould be used in all seasons of the yearprovided access to free homesteads in the Westcharged lower rates than the transcontinental railroadallowed faster transport of farm and industrial produc
Shipping goods like grain and lumber from the Midwest to the East Coast was significantly cheaper and faster thanks to the Erie Canal.
Why the construction of canals raised in the 19th century?The maritime transportation system expanded even further thanks to canals. The Erie Canal in New York was the biggest and most significant, authorised by the state assembly in 1817 and finished eight years later. This incredible feat of engineering, which stretched from Buffalo to Albany, constructed an artificial river that connected the Great Lakes to the Hudson River, which flows into the Atlantic. It was 12.1 metres (40 feet) wide and 1.2 metres (four feet) deep. Shipping goods like grain and lumber from the Midwest to the East Coast was significantly cheaper and faster thanks to the Erie Canal. The shipment of these items increased dramatically and immediately as a result, and the state's investment in the enormous undertaking paid off handsomely.
Within 12 years, incoming toll income had more than covered the whole cost of building the canal. New York City was firmly established as the nation's financial and commerce hub by the 1840s and had grown to be its premier commercial port. The rest of the state of New York developed as well, particularly the canal-bound cities of Rochester and Syracuse.
What effect did canals have on economic growth?Canals opened up new markets in terms of location and accessibility since they made it possible to carry a larger volume of commodities more precisely and inexpensively. Now, interior trade might be connected to seaports.
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how does the balanced scorecard concept help guide logistics managers in the development of a performance measurement system?
You and the companies will benefit from using a balanced scorecard to gather a variety of feedback regarding the supply chain operations, such as strategic data for top-level decision-makers, diagnostic feedback to direct improvement, knowledge of trends in performance measures over time, feedback on the efficacy of the performance metrics themself, and data that will be used to forecast future business activities.
The supply chain of an organization has roughly equal layers. The balanced scorecard tackles the four criteria of financial, customer, internal process, and learning and growth at each level of the supply chain.
Businesses take repeated measurements in each of these categories and then cycle through a system where they concentrate on weak performance and enhance performance.
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which item is most likely to be included in a routine request?
Most frequently, a regular request will contain the rationale for the request.
What is a routine request?Any request that does not seek secret, impounded, or confidential information is considered a routine request. This includes requests for information that is found in case files, dockets, indexes, lists, or schedules.
To make a standard request, put your requests or inquiries in a bulleted list, explain why you're asking for something or what it will accomplish after you've asked for it, leave out any irrelevant information, and end politely and effectively.
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awson manufacturing has four categories of overhead. the four categories and expected overhead costs for each category for next year are as follows: maintenance $180,000 materials handling 27,000 setups 24,000 inspection 90,000 currently, overhead is applied using a predetermined overhead rate based upon budgeted direct labor hours. 20,000 direct labor hours are budgeted for next year. the company has been asked to submit a bid for a proposed job. the plant manager feels that obtaining this job would result in new business in future years. usually bids are based upon full manufacturing cost plus 15 percent. estimates for the proposed job are as follows: direct materials $3,000 direct labor (600 hours) $9,000 number of material moves 4 number of inspections 6 number of setups 8 number of machine hours 80 in the past, full manufacturing cost has bee
Amount of inspection costs allocated to proposed job = $540.
Inspection cost :Inspection Fees means the wages of a Board inspector plus overheads or, if a consulting engineer is employed, the fees for his/her services to the Board. "Plan" means any plan, profile, drawing, sketch or copy thereof published, used or prepared for or in connection with the work covered by the Agreement.
Calculating :Amount of inspection costs allocated to the proposed job =
90000/1000 × 6
= $540
What does overhead rate mean?Overhead costs are the costs assigned to producing a product or service. Overhead costs are costs that are not directly related to production. Headquarters expenses. The overhead rate, also known as the standard overhead rate, is the cost that companies allocate to production to get a more complete picture of the cost of their products and services. The overhead rate is calculated by adding overhead costs and dividing that cost by a specific measure.
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Liza has always wanted a horse, and she has finally saved enough money to buy one very soon. In marketing terms, liza is a.
A market is a consumer, actual or potential, who is willing and able to spend money to meet an unmet need. Liza is a market since she has the money to buy a horse very soon and not simply wants one.
Resources are things that are used to create commodities and services. A certain market segment is referred to as a target group. One of the categories used to categorize the entire market is referred to as a market segment.
What is the term for the process of segmenting the whole market into smaller groups that might purchase your product?
In order to better understand the target market, market segmentation divides a market into subsets depending on factors like as demographics, needs, priorities, shared interests, and other psychographic or behavioral factors. You can use this targeting in your product, sales, and marketing strategies by understanding your market segments.
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n 2015, poultry farmers were able to sell cage-free eggs for a price that more than offset the higher costs of raising cage-free chickens. by 2019, most of that higher return had been wiped out by the entry of additional farmers into the cage-free egg market, which caused the price of those eggs to decline. this example indicates that in a competitive market,
The example above illustrates that in a competitive market, prices stay reasonable as there are many sellers of the same commodity.
Economic fundamentals show that when businesses compete for customers, the result is cheaper pricing, better goods and services, more variety and more creativity. Not just in market segments, but also in labour markets, competition is essential. Businesses that want to retain employees must raise pay and upgrade working conditions.
There is evidence that markets in the United States have become less competitive and more concentrated across a wide range of industries. These trends toward greater concentration have a number of causes, including technological change, the growing importance of "winner take all" markets and laxer government regulation.
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Should you budget with gross or net income?.
While there are a whole bunch if not thousands of various ways to budget, there are some universal truths when it involves budgeting. As an example, it is best to not pay quite you are transportation in, and your budgeting financial gain ought to be supported by your lucre, not your gross financial gain.
Your lucre ought to be the quantity that helps you originate your budget. once you've got calculated your monthly lucre, track your defrayment habits, beginning with what proportion you wish for mounted prices like mortgage, loan payments, or utility bills.
Gross financial gain is beyond net financial gain and includes total revenue or income, whereas lucre refers to web profits in any case expenses, taxes, and deductions are taken out. Your personal lucre is often your wage.
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Mcewan Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on 44,000 direct labor-hours, total fixed manufacturing overhead cost of $286,000, and a variable manufacturing overhead rate of $3.50 per direct labor-hour. Job X941, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data: Total direct labor-hours : 400 Direct materials : $ 800Direct labor cost $ 5,900 Required: Calculate the selling price for Job X941 if the company marks up its unit product costs by 20%. (Round your intermediate calculations and final answer to 2 decimal places.)
For the financial positions given above, it can be concluded that the selling price for the job X941 will be $256.80 for the McEwan Corporation under the job-order costing system.
The computation for the selling price can be done using the following computations related to the same.
Predetermined overhead rate = Variable overhead + Fixed overhead
Predetermined overhead rate = $3.50 + ($286,000/44000) = $10
and,
Total cost = Direct materials + Direct labor + Overhead applied
Total cost = $800 + $5,900 + (400*$10)
Total cost = $10,700
So now, the the selling price will be,
Selling price = Unit product costs * 20/100
Selling price = ($10,700/50) * 20%
Selling price = $256.80 per unit
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when brokers owe a duty of the highest care and confidentiality to their principals, whose interest they promote even at the cost of some greater benefit to themselves, it is called a(n):
When brokers owe a duty of the highest care and confidentiality to their principals, whose interest they promote even at the cost of some greater benefit to themselves, it is called a(n) a. Fiduciary relationship
In the field of business, a fiduciary relationship can be described as a kind of relationship in which the position of own of the parties is increased to such a level that the other party causes benefit to it even by overlooking its own benefits.
Brokers are people who have to have strong relationships in order to finalize deals in between sellers and buyers. Doing so, they might interest their clients with high care and confidentiality, sometimes overlooking their own benefit in order to benefit the client. Hence, this is a fiduciary relationship.
Although a part of your question is missing, you might be referring to this question:
when brokers owe a duty of the highest care and confidentiality to their principals, whose interest they promote even at the cost of some greater benefit to themselves, it is called a(n):
a. fiduciary relationship
b. trust relationship
c. contractual relationship
d. none of these
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first guaranty bank wants to borrow funds to purchase a $22 million building for its new branch location and wants to issue long-term securities to cover the financing of the new branch location.
The given case is of Bond Issuances where First Guaranty Bank wants to borrow funds to purchase a $22 million building for its new branch location and wants to issue long-term securities to cover the financing of the new branch location.
One way for businesses to raise capital is through issuing bonds. An investor and a company borrow money from one another through bonds. The investor consents to provide the company with a particular sum of money over a specific time period. Periodic interest payments are given to the investor in return.
Public bodies, financial institutions, businesses, and supranational organisations all issue bonds in the primary markets. Underwriting is the most typical technique for issuing bonds. A syndicate of securities companies or banks will purchase the whole issue of bonds from the issuer and resale them to investors when a bond issuance is underwritten. The risk that it won't be able to sell the issue to end investors is assumed by the security company. Primary issuance is organised by bookrunners, who also serve as the bond issuer's advisers on timing and price issues, have direct contact with investors, and arrange the bond issue.
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Which description best fits the definition of M2 money supply?
M2 money supply is the money supply that includes currency, checking accounts in banks, traveler's checks, savings deposits, money market funds, and certificates of deposit.
The best fits the definition of M2 money supply is the checks savings deposits
The M2 money supply is a measure of the money supply and includes cash, check deposits, and readily convertible cash. M2 is a broader measure of money than M1, which includes only cash and check deposits. A savings account is the bank account at the retail bank. Common features include a limited number of withdrawals, lack of checking and linked debit card functionality, limited money transfer options, and the inability to over withdraw. refers to the type of bank account that you open to save a portion of your Interest rates on savings accounts are fairly modest. Investing in fixed deposits is he one of the safest investment options. The rate the bank offers on his FD makes FD a good option.
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an organization's reputation can be fleeting, whereas its image is usually consistent over time. true false
False, A company's reputation can change quickly, whereas its image is usually consistent over time.
A social entity's reputation is an opinion about that entity formed as a result of social evaluation based on a set of criteria such as behavior or performance. Reputation is a pervasive, spontaneous, and highly effective social control mechanism. A person's social standing in society is determined by their reputation. It is an indication of his or her power. A person with a good reputation is definitely preferred for better jobs and leadership positions.
The best talent in the industry is easier to recruit and keep around when an employer has a good reputation. Prospective employees consider corporate social responsibility, financial performance, staff reviews, media coverage, and brand value when deciding whether to work for a company.
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what are the steps for constructing a financial plan? what role do financial statements play in the construction of financial plans
Financial planning is very much like some other arranging process. In this manner, one needs to recognize his desired objectives to accomplish through monetary preparation.
For arranging, there is a requirement for assets. The assets are the resources and the income accessible for the venture. The resources and money are put resources into a way that assists one with accomplishing the decided monetary objectives.
Financial planning is a course of recognizing the monetary goals and the assets and the ways of accomplishing them.
Accordingly, financial planning essentially includes three stages:
Distinguishing monetary targets or objectives.
Deciding the accessible assets.
Choosing where and how to utilize the accessible assets.
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Financial statements of a business are written in the form of balance sheets, income sheets or cash flow sheets which contain the activities of the past and future of the company and help in constructing a financial plan.
Steps for constructing a financial plan :
First and foremost identifying the financial condition of the business is important.Set short-term and long-term goals for the company.Identifying the sources of investments.Creating a budget through an integrated investment strategy of short-term and long-term goals. Creating emergency funds for emergencies to face.Planning and managing the payment of taxes and debts.Protection with insurance.And finally reviewing, Re-evaluating and monitoring the planning from time to time.Role of financial statements in the construction of financial planning.
Income statements help in identifying the financial situations of profits and losses by providing data on the expenses and revenue of the company.Cash flow statement -CFS helps in the generation of investment with the data of previous fund investments.Balance sheets help in identifying the company's assets and liabilities for strong debt management in planning. Statements of changes further help in the planning of future growth of the company both internally and externally.
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prepare the employer's september 30 journal entry to record accrued salary expense and its related payroll liabilities for this employee.
2,126.40 is the employer september 30 journal entry of record accrued salary expense and its related payroll liabilities for this employee.
The employer journal to record salary expense and related payroll liabilities only take FICA - SS , FICA - M and Federal income taxes withheld.
FICA - SS = 128,400 - 5,400 = 123,000
FICA - SS = $2,400 (current) x .062 = $148.80
FICA - M = $2,400 x .0145 = $34.80
Debit Salary expense 2,400 and Credit FICA - SS 148.80,
FICA - M 34.80 , Employee federal income taxes payable 90
Salary payable = 2,400 - (148.80 + 34.80 + 90) = 2,126.40
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on jan 15 ABC Co sold a piece of land for 4000 when the original cost of the land was 4000. show how to journalize the transaction into the cash receipts journal by selecting all of the correct actions below
1. 4000 is entered in the cash dr column
2. sold land is entered in the explanation column
3. 4000 is entered into the other accounts cr column
4. land is entered into the accounts credited column
The correct actions to show the journalized transaction of the sale of the piece of land by ABC Co. are:
1. 4,000 is entered in the cash dr column2. sold land is entered in the explanation column3. 4,000 is entered into the other accounts cr column4. land is entered into the accounts credited columnHow to record the sale of the land?When land is sold, as ABC Co just did, the cash account is to be debited by the amount the land was sold for. This is because cash is increasing from the sale and so, like normal assets, will be debited to show an increase.
Land will be credited with the value of the land which is $4, 000. This shows that the land is no longer owned by the company and like other assets, when an asset leaves a company, it is credited.
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in the context of organizational decisions at the tactical management level, decisions are often used in resolving conflicts between two divisions.
In the context of organizational decisions at the tactical management level, Unstructured decisions are often used in resolving conflicts between two divisions.
What is unstructured decision with example?Unstructured decisions require the decision-maker to exercise judgment, assessment, and understanding of the problem definition.Contrarily, structured decisions can be handled efficiently by following a set process because they are repeated and routine.An unstructured choice can involve deciding how to handle a labor dispute or how to establish guidelines for the use of new technologies.A semi-structured choice is one in which the majority of the necessary criteria are known, but the decision may still be impacted by the decision-experience maker's and other external influences.By using a relational database, structured data is arranged.However, semi-structured data is organized using XML/RDF in some cases.To learn more about organizational decisions refer
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