3 reason why loading and unloading a school bus is dangerous?

Rainey Enterprises loaned $20,000 to Small Co. on June 1, 2018, for one year at 6 percent interest. Required Show the effects of

kari74 [83]

Answer:

See explanation

Explanation:

See the image below:

3 0

3 years ago

Urban Window Company had gross wages of $320,000 during the week ended July 15. The number of wages subject to social security t

marshall27 [118]

Answer:

wages expense 320,000 debit

cash 218,400 credit

FICA tax payable 2,160 credit

SUTA tax payable 240 credit

Social security payable 24,000 credit

wages income tax payable 75,200 credit

--to record July 15th payment to employees wages--

payroll tax expenses 26,400 debit

FICA tax payable 2,160 credit

SUTA tax payable 240 credit

Social security payable 24,000 credit

---to record the payroll tax for the week ended July 15th--

Explanation:

We multiply the wages subjet to taxation by each rate:

social security:

320,000 x 7.5% = 24,000

SUTA

40,000 x 5.4% = 2,160

FICA

40,000 x 0.6% = 240

For this three concepts, the employee will have liability for the same amount for payroll taxes

Income tax 75,200

net wages: 320,000 - 24,000 - 2,160 - 240 - 75,200 = 218,400

4 0

2 years ago

A local furniture store buys furniture from various manufacturers and resells the furniture to its customers. What type of marke

Bezzdna [24]

The type of marketing channel that this represents is direct.
This means that there are no intermediaries between the seller and the consumer. This local store buys the goods, and then sells it to the buyers itself - there is no third-party retailer or dealer which is going to do that for the local store - that would be indirect marketing, which is something this is not.

8 0

2 years ago

Internal Controls for Bank Lending

julsineya [31]

Answer:

1. False

The higher the figure, the higher the risk. Kindly note that loans are usually insured against default. The higher the amount insured, the higher the premium payable as insurance on such amounts.

2. False

It does not make for good internal control to have one person regardless of their position to have the final say on loans of great magnitude such as $5 Million. This can quickly degenerate into a situation where the officer involved is tempted to abuse that power. It makes for good corporate governance and risk management to ensure that the board is responsible for loans of such magnitude.

3. True

If a bank lost $100 in a thousand places, from loan default, that translates to a loss of $100,000. This relatively is large however it is small and will have less impact that a loss of a million dollars in 3 places. That's $ 3,000,000.

As already indicated, it makes for good loan disbursement governance, to ensure that there is at least two persons involved in the risk acceptance criteria (RAC) evaluation and loan disbursement process.

4. False

Separation of duties is the foundation of good internal control. It allows for greater objectivity. It is also key to carefully select signatories to loan disbursements. They have to be people of impeccable character and the company must exercise proper risk management to ensure that every protocol such as opportunity that may create the impulse or inclination to breach policy is removed completely.

Cheers!

5 0

2 years ago

Jonah owns a cleaning business with many satisfied customers who like the green cleaning products he uses. He recently discovere

AveGali [126]

Answer:

virtue ethics

Explanation:

Jonah most likely applying the ethical theory known as virtue ethics to his decision. This can be seen when he decides to purchase the more expensive spray mainly because lying is wrong. This shows that he has moral rules or virtues which he follows such as a strong character and honesty. To Jonah lying is bad and he personally believes it makes the world a worse place so therefore decides to go against the lying company and purchase another more expensive product.

4 0

2 years ago