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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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Jennifer works as a clerk in a company. The essential function of her job is producing memoranda using word processing software.

patriot [66]

Answer:

Americans with the Disability Act of 1990.

Explanation:

Crippling Arthritis can get worse with the time.If the is left untreated then the disease always attack five joints at least.So according to the Americans with the disability act.This act protects individuals form discrimination having disability.So the employer has to provide accommodations to Jennifer.

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3 years ago

The consumption function shows the relationship between consumption spending and _______. The slope of the consumption function

Stella [2.4K]

Answer:

Consumption Function : Relationship between Consumption Spending & Income

Consumption Function Slope = Marginal Propensity Curve (MPC)

Change in Consumption = Change in Income X MPC

Explanation:

Consumption Function is the curve representing relationship between Consumption spending and Income.

C = a + bY ; where :- C = Consumption , Y = Income , a = Autonomous Consumption i.e consumption at 0 level of income , b = MPC i.e additional consumption consumed from additional income = ΔC / ΔY

b = MPC i.e change in C due to additional change in Y = ΔC / ΔY is the slope of Consumption Function

MPC = ΔC / ΔY .

So, change in consumption i.e ΔC = MPC X ΔY

6 0

3 years ago

Stacy purchased a stock last year and sold it today for $4 a share more than her purchase price. She received a total of $1.15 p

dusya [7]

Answer: B. The capital gains yield is positive.

Explanation:

The Capital Gains Yield is a percentage figure that tells how much an investment has increased in price from it's acquisition.

It works by taking the new value and dividing it by the original value.

Using Stacy as an example, the Stock increased by $4 so assuming she bought the stock for even $0.1 then her Capital Yield is,

= 4/0.1

= 40 * 100%

= 4000% which is positive

As long as the stock was sold for more than it was bought, Capital Yield Gain is positive.

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3 years ago

A young couple has $300,000 that they have used to aggressively trade growth stocks. They place their account with a Registered

EastWind [94]

Answer:

the investment advisor should do nothing

Explanation:

In the scenario that is being described, the investment advisor should do nothing. This is because the investment advisor did nothing wrong or illegal, he simply followed the instructions that were strictly provided by the clients, therefore acting in accordance with the customers' wishes. Meaning that he has nothing to fear from the client's being accept because they have no standing to take legal action against the advisor.

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3 years ago

PA1.

kolezko [41]

Question: Colonels uses a traditional cost system and estimates next years overhead will be $480,000, with the estimated cost driver of 240,000 direct labor hours. It manufactures three products and estimates these costs:

Small Medium Large

Units 32,000 12,000 4,000

Direct Material cost $5 $8 $9

Direct Labor Hrs / Unit 4 Hrs 6 Hrs 10 Hrs

If the labor rate is $25 per hour, what is the per-unit cost of each product?

Answer:

Step 1: Identify Absorption Basis

Here, absorption basis is Labor hours.

Step 2: Find the Overhead Absorbed Rate by dividing total Overhead by total absorption basis.

The formula is as under:

Overhead Absorbed=Total Overhead / Total Absorption Basis... Equation 1

By putting values in Equation 1:

Overhead absorption Rate OAR =$480,000 / 240,000 Machine Hrs = $2 per Labor hour

Step 3: Now calculate overhead per unit for product Small, Medium and Large by simply multiplying OAR with Direct Labor hours consumed per unit

Overhead per unit for Product X= OAR * Direct Labor hours consumed per Product X....................Equation 2

Now simply put the values in Equation 2 of direct labor used by each product and calculate Overhead per unit.

For Product Small:

Overhead per unit for Product Small= $2 * 4 direct labor hours= $8 per unit

For Product Medium:

Overhead per unit for Product Medium= $2 * 6 direct labor hours= $12 per unit

For Product Large:

Overhead per unit for Product Large= $2 * 10 direct labor hours= $20 per unit

Step 4: Add the per unit prime cost to Overhead cost per unit calculated in the Step 3 to calculate the total unit cost of the product. Prime cost is the sum of all direct costs. In this question, Prime cost includes Direct labor cost and Direct material cost.

Now first of all find prime cost of each product by using following formula:

Prime cost per unit for Product X= (Direct material cost per unit of Product X) + (Direct labor cost per unit of Product X)............Equation 3

Thereafter add prime cost to overhead unit cost calculated in step 3.

For Product Small:

Prime cost per unit for Small= ($5 per unit) + ($25 per direct labor hour * 4 number of direct labor hours)=$5 per unit + $100 per unit= $125 per unit

Total Unit cost of product Small= Overhead cost per unit for Small + Prime cost per unit for Small =$125 per unit + $8 per unit=$133 per unit

For Product Medium:

Prime cost per unit for Medium= ($8 per unit) + ($25 per direct labor hour * 6 number of direct labor hours)=$5 per unit + $150 per unit= $155 per unit

Total Unit cost of product Medium= Overhead cost per unit for Medium + Prime cost per unit for medium =$155 per unit + $12 per unit=$167 per unit

For Product Large:

Prime cost per unit for Large= ($9 per unit) + ($25 per direct labor hour * 10 number of direct labor hours)=$9 per unit + $250 per unit= $259 per unit

Total Unit cost of product Large= Overhead cost per unit for Large + Prime cost per unit for Large =$259 per unit + $20 per unit=$279 per unit

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3 years ago