Answer:
At the end of March, Paul’s Painting hired five temporary employees to work on a project that began on April 5 and ended on April 28. Paul’s received 100% of the total payment for the project on May 3. In this situation, both cash basis accounting and GAAP require that Paul’s recognize the employees’ total salary expense in April.
Explanation:
A collection of accounting rules and standards usually followed, for financial reporting is known as GAAP (generally accepted accounting principles) .
For businesses, GAAP needs accrual accounting.
Accrual accounting operates on the basis of matching both revenue and expenses. Revenues and the related expenses occur concurrently, though the cash transaction concerning thereto might happen in some other period.
In the situation given in the question, the revenue from the project is earned in April, subsequently, the salary expense related to that work should also be recognized in the same period due to an accrual basis.
Answer:
$12,240
Explanation:
Social security Tax = $80,000 x 12.4%
Social security Tax = $9,920
Medicare Tax = $80,0000 x 2.9%
Medicare Tax = $2,320
Total tax = $9,920 + $2,320
Total tax = $12,240
Marketing is the study and management of exchange relationships. It is the business process of creating relationships with and satisfying customers.
Answer:
the Link Between Stress and Alcohol. ... One way that people may choose to cope with stress is by turning to alcohol. Drinking may lead to positive feelings and relaxation, at least in the short term. Problems arise, however, when stress is ongoing and people continue to try and deal with its effects by drinking alcohol.
Explanation:
Answer:
B, the ability to determine its own nationally-oriented monetary policy.
Explanation:
When a country merges its currency with another to form/create a single currency, the nation must give up its ability to make monetary policies with the country.
This is because the creation of a single currency has now joined both countries as one monetarily. For this reason, both nations have to come to an agreement on monetary policies that will apply in both country as soon as there is a currency merger.
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