1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lesantik [10]
3 years ago
11

​Keith, an employee of​ Sunbeam, Inc., has gross salary for May of​ $15,000. The entire amount is under the OASDI limit of​ $118

,500 and thus subject to FICA. He is also subject to federal income tax at a rate of​ 20%. Which of the following is a part of the journal entry to record the disbursement of his net​ pay? (Assume a FICAOASDI Tax of​ 6.2% and FICAMedicare Tax of​ 1.45%.) (Round the final answer to the nearest​ dollar.)
Business
1 answer:
Ivanshal [37]3 years ago
5 0

Answer:

there are no options listed, but the journal entry to record Keith's salary should be:

May 31, wages expense

Dr Wages expense 15,000

Dr FICA taxes expense 1,147.50

Dr FUTA taxes expense 900

    Cr Federal income taxes withheld payable 3,000

    Cr FICA OASDI taxes withheld payable 930

    Cr FICA Medicare taxes withheld payable 217.50

    Cr FICA OASDI taxes payable 930

    Cr FICA Medicare taxes payable 217.50

    Cr Wages payable 10,852.50

I didn't include SUTA taxes or any other discount (e.g. health insurance, IRA contributions, union contributions, etc.) because sometimes they do not exist, but the previous ones always exist.

You might be interested in
During the initial homeowner meeting, the designer ascertains the homeowner’s preferences, financial constraints, and any specia
Liula [17]
The answer is A.) true
8 0
3 years ago
Firms face competing pressures in the marketplace–how to achieve lower costs through proven approaches to production, while look
Solnce55 [7]

Answer:

1. Pressures for local responsiveness may make it difficult to ______________________________.

 

monitor and adapt to changing customer tastes in a large number of foreign markets

2. __________________________is the most appropriate strategy when there are substantial differences across nations with regard to consumer tastes and preferences, and where cost pressures are not too intense.

Localization strategy

3. ___________________________ is the most appropriate strategy when the firm simultaneously faces strong pressures for both cost reductions and local responsiveness.

 

Transnational strategy

4. A firm facing low pressures for local responsiveness and few pressures to contain costs might best pursue a(n) _______________________.

international strategy

5. Markets are dynamic, and any firm will face competition. In time, international and localization strategies tend to become less viable, and managers need to ________________________________.

orient their companies toward either a global standardization or transnational strategy  

Explanation:

When a company's global business activities are coordinated via cooperation and interdependence between its head office, operational divisions, and internationally located subsidiaries or retail outlets, the entity tends to realize more competitive advantages than when it uses a single strategy.  This is why the transnational strategy is offering the best alternative for international businesses in the globalized economy.

7 0
3 years ago
Read 2 more answers
In a transaction between merchants, the additional proposed terms automatically become part of the contract unless
svp [43]
The correct answer would be d. all of the above
6 0
3 years ago
In its simplest form, amdahl's law maintains that if a given program would take one hour to run to completion with one processor
AlladinOne [14]
<span>20% is the maximum speed up possible for this program. For this problem, let's assign the time of 1 for the task when using a single processor. Now let's assume that we have an infinite number of processors available to handle the portion of the program that can be executed in parallel so that the execution time for that portion will be 0. That means that the total execution time with an infinite number of processors will be 1 * (0.80 + 0) = 1 * 0.80 = 0.80 So at best, the parallel program will take 80% of the time for the single threaded version. So the speed increase will be (1 - 0.80) / 1 = 0.20/1 = 0.20 = 20%</span>
4 0
3 years ago
The Yurdone Corporation wants to set up a private cemetery business. According to the CFO, Barry M. Deep, business is "looking u
jenyasd209 [6]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

5 0
4 years ago
Other questions:
  • Carol was preparing for the next employee appraisal at her company. She already had her work accomplishments documented and read
    6·2 answers
  • .Goehler, Inc. acquires all of the voting stock of Kenneth, Inc. on January 4, 2017, at an amount in excess of Kenneth's fair va
    12·1 answer
  • As of November 29, it appears that Notel will report earnings per share (EPS) of $1.15 for the quarter ended November 30. Which
    14·1 answer
  • Which theorist argues that members of a class are grouped by their value in the commercial marketplace?
    5·1 answer
  • Peggy-Sue's cookies are the best in the world, or so I hear. She has been offered a job by Cookie Monster, Inc., to come to work
    11·2 answers
  • Help me answer the questions below..
    15·2 answers
  • Need answers fast comment and ill answer as fast as I can starting with who asked first
    10·2 answers
  • Mcgahen Medical Clinic measures its activity in terms of patient-visits. Last month, the budgeted level of activity was 1,080 pa
    7·1 answer
  • Badger and Fox are forming a partnership. Badger invests a building that has a market value of $352,000; the partnership assumes
    12·1 answer
  • Which view is represented below?
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!