The answer is D. A professional baseball team pays two players with identical batting averages different salaries
Answer:
a.
Taxes to be withheld from Gross Pay (Employee - Paid Taxes)
September Earnings Tax Rate Tax Amount
Subject to Tax
Federal Income tax $80.00
FICA - Social Security 800 6.20% $49.60
FICA - Medicare 800 1.45% <u> $11.60</u>
Total <u> $141.20</u>
FICA - Social Security = 800 * 6.2% = $49.60
FICA - Medicare = 800 * 1.45% = $11.60
b.
Date General Journal Debit Credit
Sep 30 Salaries Expense $800
Federal income tax payable $80
FICA taxes Payable - Social Security $49.60
FICA taxes Payable - Medicare $11.60
Salaries Payable $658.80
Salaries Payable = 800 - 80 - 49.60 - 11.60 = $658.80
Answer:
1. idealized influence
Explanation:
Idealized influence can be most expressed through a transformational leader's willingness to take risks and follow a core set of values, convictions and ethical principles in the actions he takes. It is through this concept of idealized influence that the leader builds trust with his followers and the followers, in turn, develop confidence in their leader.
Answer:
a. $14,000 and $14,000
b. $17,000 loss
Explanation:
a. The computation of the depreciation expense using the straight line method is shown below:
Straight-line method:
= (Acquired value of the truck - residual value) ÷ (useful life)
= (79,000 - $7,000) ÷ (5 years)
= ($70,000) ÷ (5 years)
= $14,000
In this method, the depreciation is same for all the remaining useful life
So for year 1 and year 2 the same amount of depreciation is to be charged
b. Now for computing the gain or loss first we have to determine the book value which is shown below:
For two years, the depreciation would be
= $14,000 × 2 years
= $28,000
Now the book value would be
= Acquired value of an asset - accumulated depreciation
= $79,000 - $28,000
= $51,000
So, the loss would be
= Book value - sale value
= $51,000 - $34,000
= $17,000
Answer:
$12,900
Explanation:
Amount of cash reported in the balance sheet refers to the cash balance in the bank and other short term investments that may be liquidated in 3 months or less.
It is a current asset in the balance sheet.
Amount of cash on balance sheet = $1,500 + $6,700 + $200 + $100 + $4,400
= $12,900