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2 years ago

In a lease contract, the party to whom the rights to use the asset are granted is called the:____.

1 answer:

6 0

A lease is a contractual arrangement where one party, called the lessor, provides an asset for use by the other party, referred to as the lessee, based on periodic payments for an agreed period. The lessee pays the lessor for the usage of the asset or property

The landlord is the party to the lease who owns the property and leases it to the tenant as a rental property for temporary possession. For example, in a rental house, the landlord is the landlord and the tenant is the tenant.

A lessor is either an individual or a legal entity such as a company or organization. The lessor is always the owner of the property. For example, for a car, the lessor can be the owner or car dealer who rents the car. The lessee is always the person who uses the property temporarily

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The following payroll journal entries for Oct. 15 were made by your predecessor. For FICA tax, assume that the social security r

krok68 [10]

Answer:

1. We have:

Payroll subject to the federal unemployment taxes = $22,000

Payroll subject to the state unemployment taxes = $22,000

2. Total payroll = $820,000

3. FICA taxes in payroll = $61,500

Explanation:

Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data.

The explanation of the answers is now provided as follows:

1. Determine the payroll amount subject to federal and state unemployment taxes in this payroll.

Payroll subject to the federal unemployment taxes = Federal unemployment tax payable / Federal unemployment tax rates = 176 / 0.8% = $22,000

Payroll subject to the state unemployment taxes = State unemployment tax payable / State unemployment tax rates = 1,188 / 5.4% = $22,000

2. What is the total payroll for Copperfield and Company shown in these journal entries?

Total payroll = Salaries Expense + Wages Expense = 647,800 + $172,200 = $820,000

3. What is Copperfield and Company’s share of FICA taxes in this payroll?

FICA taxes in payroll = Social security tax payable + Medical tax payable = $49,200 + 12,300 = $61,500

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4 0

3 years ago

John has to choose between two jobs: one that offers him $50 per hour and one that offers him $35 per hour. the opportunity cost

Viefleur [7K]

Answer:

$35 per hour

Explanation:

Data provided;

The John has 2 alternatives to choose from

Alternative 1 offers him $50 per hour

Alternative 2 offers him $35 per hour

John opts for the Alternative 1 i.e $50 per hour

Now,

The opportunity cost is given as the next high valued alternative and for the given question, we have the next high valued alternative of $35 per hour

Hence,

the opportunity cost of choosing the alternative 1 i.e job offering $50 per hour is $35 per hour

4 0

3 years ago

Debit CreditCash $2,870 Accounts Receivable $3,231 Supplies 800 Equipment 3,800 Accounts Payable 2,666 Unearned Service Revenue

nirvana33 [79]

Answer:

TRIAL BALANCE

Assets:

Cash $2,920

Accounts Receivable $3,051

Supplies $300

Equipment $4,300

Total assets 10,571

Liabilities + Stockholders' Equity

Accounts Payable $2,200

Unearned Service Revenue $875

Common Stock $6,000

Retained Earnings $1,496

Total liabilities + stockholders' equity 10,571

Explanation:

1.Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750.

Dr Cash 180

Cr Accounts receivable 180

2. The purchase of a computer printer on account for $500 was recorded as a debit to Supplies for $500 and a credit to Accounts Payable for $500.

Dr Equipment 500

Cr Supplies 500

3. Services were performed on account for a client for $890. Accounts Receivable was debited for $890 and Service Revenue was credited for $89.

Dr Accounts receivable 0

Cr Service revenue 801

4. A payment of $65 for telephone charges was recorded as a debit to Office Expense for $65 and a debit to Cash for $65.

Dr Office expense 0

Cr Cash 130

5. When the Unearned Service Revenue account was reviewed, it was found that service revenue amounting to $325 was performed prior to June 30 (related to Unearned Service Revenue).

Dr Unearned service revenue 325

Cr Service revenue 325

6. A debit posting to Salaries and Wages Expense of $670 was omitted.

Dr Wages expense 670

Cr Cash 0

7. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260.

Dr Accounts payable 466

Cr Cash 0

8. A dividend of $575 was debited to Salaries and Wages Expense for $575 and credited to Cash for $575.

Dr Retained earnings 575

Cr Wages expense 575

Service Revenue 2,380 + 801 + 325 = 3,506

Salaries and Wages Expense 3,400 + 670 - 575 = 3,495

Office Expense 940

net loss -929

Cash $2,870 + 180 - 130 = 2,920

Accounts Receivable $3,231 - 180 = 3,051

Supplies 800 - 500 = 300

Equipment 3,800 + 500 = 4,300

Accounts Payable 2,666 - 466 = 2,200

Unearned Service Revenue 1,200 - 325 = 875

Common Stock 6,000

Retained Earnings 3,000 - 575 - 929 = 1,496

4 0

3 years ago

ABC Corporation, has an issue of preferred stock outstanding that pays a $2.50 dividend every year in perpetuity. This stock iss

Liono4ka [1.6K]

Answer:

the required return on the preferred stock is 3.33%

Explanation:

The computation of the required return on the preferred stock is shown below:

= Dividend ÷ Selling price per share

= $2.50 ÷ $75

= 3.33%

Hence, the required return on the preferred stock is 3.33%

We simply applied the above formula

8 0

3 years ago

Explain how a manager at a Subway or any fast food restaurant restaurant can use feedforward control to get the best customer sa

egoroff_w [7]

Customer satisfaction is increased as a result of quality management, which also enables businesses to meet customer expectations. One of the key areas where businesses need to be knowledgeable enough is in the service quality.

<h3>What is Subway or any fast food restaurant?</h3>

One of the top brands on the global market is Subway, which places a high priority on maintaining the quality of its products and providing excellent customer service.

Some key features regarding the subway are-

It consistently emphasizes the quality of the ingredients as well as the eventual deliverables in its marketing methods.
The business is committed to providing natural food products that are healthful and free of artificial additives and calories.
The customers' health is directly correlated with the meal quality.
To remain competitive in the marketplace and achieve its goal of being the healthiest alternative in the fast food sector, the company must maintain the quality of the items.

To know more about the subway, here

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8 0

2 years ago