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2 years ago

Your employer withholds money from each paycheck. what is this money used for?

1 answer:

6 0

some of their employees' pay in order to cover payroll taxes and (((income tax))).Money may also be deducted, or subtracted, from a paycheck to pay for retirement or health benefits.

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what is the white-box approach in auditing systems? select all statements that apply. multiple select question. the white-box ap

ira [324]

The white-box approach in auditing systems are :-

It is adequate when automated systems applications are relatively simple.

It is to audit around the computer.

The advantage of this approach is that the systems will not be interrupted for auditing purposes.

Auditing is defined as the on-web page verification interest, which include inspection or exam, of a procedure or nice device, to ensure compliance to requirements. An audit can follow to a whole company or might be precise to a function, system, or production step.

An audit is an "unbiased exam of financial facts of any entity, whether or not earnings oriented or not, no matter its length or legal form while such an exam is carried out on the way to specific an opinion thereon.”

The reason of an audit is to shape a view on whether the records presented within the financial record, taken as a whole, reflects the monetary function of the company at a given date.

Learn more about auditing here : brainly.com/question/24317218

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4 0

1 year ago

AudioCables, Inc., is currently manufacturing an adapter that has a variable cost of $0.50 per unit and a selling price of $1.40

Sedaia [141]

Answer: Yes. AudioCable should buy a new equipment

Explanation:

Audiocables Inc. without new equipment:

Selling price: $1.40

Variable cost: $0.50

Fixed cost: $14,000

Sales: 30000 units

Total cost = Fixed cost + Variable cost

= $14000 + ($0.50 × 30000)

= $14000 + $15000

= $29000

Revenue = Sales × Selling price

= 30000 × $1.40

= $42000

Profit = Revenue - Total Cost

= $42000 - $29000

= $13000

Audiocables Inc. with new equipment:

Selling price: $1.40

Variable cost: $0.60

Fixed cost: $14,000 + $6000 = $20000

Sales: 50000 units

Total cost = Fixed cost + Variable cost

= $20000 + ($0.60 × 50000)

= $20000 + $30000

= $50000

Revenue = Sales × Selling price

= 50000 × $1.40

= $70000

Profit = Revenue - Total Cost

= $70000 - $50000

= $20000

From the calculations made, AudioCable buy a new equipment as profit generated is more.

5 0

3 years ago

At December 31, 2019, Skysong Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 108,966

Fittoniya [83]

Answer:

Earnings per share from continuing operations is $3.41 per share.

Earnings per share from discontinued operations is -$0.53 per share.

Explanation:

The earnings per share data can be computed by preparing a partial income statment as follows:

Skysong Corporation

Income Statement (Partial)

As at December 31, 2019

Particulars Amount ($)

Continuing operations

Income from continuing operations before taxes 22,887,900

Taxes on continuing operations (22,887,900 * 35%) (8,010,765)

Income from continuing operations after taxes 14,877,135

Preferred dividends declared (1,089,660)

Income from continuing operations after pref. div. 13,787,475

Discontinued operations

Discontinued operations (loss before taxes) (3,284,900)

Tax benefit on discontinued oper. (3,284,900 * 35%) 1,149,715

Discontinued operations (loss after taxes) (2,135,185)

Earnings per share:

Continuing operations (13,787,475 / 4,044,060) 3.41

Discontinued operations (2,135,185 / 4,044,060) (0.53)

5 0

3 years ago

Present and Future Values for Different Periods:

DiKsa [7]

Answer:

1. $636

2. $674.16

3. $566.04

4. $534

Explanation:

PV = FV ÷ (1 + r/n)^(t × n)........(1)

PV = present value

FV = Future value

r = rate per period

t = number of years

n = number of compounded period per year

FV = P(1 + r/n)^(t×n)...............(2)

FV = Future value

P = principal

r = rate per period

n = number compounded period per year

t = number of year

NO 1.

P= $600

t = 1

n = 1

r = 6% = 0.06

Using equation 2

FV = 600(1 + 0.06/1)^(1 × 1) = $636

NO 2

P = $600

n = 1

t = 2

r = 0.06

Using equation 2

FV = 600(1 + 0.06/1)^(2 × 1) = $674.16

NO 3.

FV = $600

r = 0.06

t = 1

n = 1

Using equation 1

PV = 600 ÷ (1 + 0.06/1)^(1 × 1) = $566.04

NO 4.

FV = $600

r = 0.06

n = 1

t = 2

Using equation 1

PV = 600 ÷ (1 + 0.06/1)^(2 × 1) = $534

8 0

3 years ago

Kelly Company issued $100,000 of 5%, 10-year bonds at 102 to a single investor. Each of the $1,000 bonds was convertible into 10

Angelina_Jolie [31]

Answer:

The amount credited to common stock upon conversion of the bonds is $101000

Explanation:

When the bond was issued there would been a debit of $102000($100000*$102/$100) to cash account and credit of $102000 to liabilities split into $100000 bonds payable and $2000 bond premium.

However, on conversion to common stock with premium of $1000 outstanding in the books,the amount to be credited into common stock account is the issue value less outstanding premium.

The amount credited to common stock=$102000-$1000=$101000

This can be shown with entries below:

Dr Bond payable $100000

Dr Bond premium $1000

Cr Common stock $101000

3 0

3 years ago