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3 years ago

The journal entry to record employer payroll taxes owed affects ______.

Business

1 answer:

weeeeeb [17]3 years ago

5 0

Answer:

a) liabilities only

Explanation:

The journal entry to record the payroll tax expense is shown below:

Payroll tax expense A/c Dr

To Social security tax payable A/c

To Medicate tax payable A/c

To State Unemployment tax payable A/c

To Federal Unemployment tax payable A/c

(Being the payroll tax expense is recorded)

The payroll tax expense is shown on the debit side of the income statement whereas payroll tax payable is shown on the liabilities side of the balance sheet

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David bought 48 for cars at a yard sale of the cards three eighths were baseball cards how many car

Tatiana [17]

First find 1/8. 48/8 is 6. Then multiply by 3 since there are 3/8. 3x6 is 18. 18 cards. Hope this helps!

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3 years ago

Accounting for par, stated, and no-par stock issuances LO P1

sp2606 [1]

Answer:

Rodriguez Corporation

Journal Entries:

a. Debit Cash $176,900

Credit Common Stock $128,000

Credit Additional Paid-in Capital $48,900

To record the issue of 16,000 shares at $8 par value.

b. Debit Cash $176,900

Credit Common Stock $176,900

To record the issue of 16,000 shares at no par or stated value.

c. Debit Cash $176,900

Credit Common Stock $64,000

Credit Additional Paid-in Capital $112,900

To record the issue of 16,000 shares at $4 state value.

1. Issue of 16,000 shares of no par, no stated value common $94,900 cash.

Journal Entry:

Debit Cash $94,900

Credit Common Stock $94,900

To record the issue of 16,000 shares at no par or stated value.

2. Record the issue of 16,000 shares of $2 stated value common stock for $94,900 cash.

Journal Entry:

Debit Cash $94,900

Credit Common Stock $32,000

Credit Additional Paid-in Capital $62,900

To record the issue of 16,000 shares of $2 stated value for cash.

Explanation:

a) Data and Calculations:

Number of common stock shares issued = 16,000

Cash collected from the issue = $176,900

Date of issue = February 20.

b) When shares are issued at no par or stated value, the corresponding credit for the Common Stock account equals the cash realized. When the par value is less than the issued price, the corresponding credit above the par value is credited to the Additional Paid-in Capital account.

8 0

3 years ago

Machinery was purchased for $460000 on January 1, 2022. Freight charges amounted to $15000 and there was a cost of $34000 for bu

guapka [62]

Answer:

The amount of accumulated depreciation at December 31, 2023 = $88,800.

Explanation:

Determining the actual acquisition cost.

The actual acquisition cost = Purchase value + freight charges + Installation costs.

The actual acquisition cost = 460,000 + 15,000 + 34,000.

The actual acquisition cost = $509,000.

Determining the depreciable cost.

The depreciable cost = acquisition cost - Salvage value.

The depreciable cost = 509,000 - 65000.

The depreciable cost = $444,000.

Determining annual depreciation expense.

Annual depreciation expense = depreciable cost / number of years.

Annual depreciation expense = 444,000 / 10.

Annual depreciation expense = 44,400.

Determining the accumulated depreciation .

The accumulated depreciation = annual depreciation expense × number of years.

The accumulated depreciation = 44,400 × 2.

The amount of accumulated depreciation at December 31, 2023 = $88,800.

4 0

3 years ago

Inflation affects the real value of future dollars and can therefore make signing long-term wage and loan agreements seem risky.

Archy [21]

Answer:

future price uncertainty

Explanation:

Inflation is a persistent rise in the general price levels

Types of inflation

demand pull inflation – this occurs when demand exceeds supply. When demand exceeds supply, prices rise

cost push inflation – this occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the resultant effect

Shoe leather cost is when people try to spend money immediately so they would not be holding money for a long time. This is because money loses its value in an inflation.

Menu costs are the costs of changing price constantly as a result of inflation, When there is inflation, prices increases regularly. As a result prices needs to be updated regularly.

6 0

3 years ago

Service employees at the airlines' flight cancellation desks frequently encounter travelers who get emotional about canceled or

elixir [45]

Answer: Listen to the consumer

Explanation: In simple words, the employees working at the cancellation desks are the parts of customer relationship management. CRM involves interacting with the customers and providing them best service so that they enjoy a healthy experience with the organisation.

In the case of flight cancellation, the employees should listen to them properly as if in extreme cases any kind of alternative is possible then such customer must be helped.

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3 years ago